ACCT 6301 Ch 4 Quiz

Test yourself ABC Company is producing three products, A, B and C in Direct labor hours their unit. A В C 10,000 15,000 25,000 Number of orders 15 25 10 placed During the year 2019,the total overhead expenses Machine set up hours 150 300 50 are; Requirement 1. Calculated pre-determined overhead rate if overhead is applied based on the direct labor hours .Compute overhead rates using activity based costing. Determine the difference in the amount of overhead allocated to each Procurement cost RO200,000 Machine set up cost RO100,000 product between the two methods.

S Activity Cost Pool Labor-related Purchase orders Product testing Template etching General factory Activity Cost Pool Labor-related (DLHS) Activity Measure Direct labor-hours Number of orders Number of tests Number of templates Machine-hours Product A Product B Product C Product D Cost $ 19,250 $ 1,820 $ 6,320 $ 960 $ 68,600 Total Overhead Cost 2. The expected activity for the year was distributed among the company's four products as follows: Expected Activity 1,375 DLHS Expected Activity Product A Product B Product C Product D 300 650 125 300 20 65 180 190 Purchase orders (orders) Product testing (tests) 65 0 80 Template etching (templates) 250 0 26 10 4 General factory (MHs) 3,800 2,000 1,200 2,800 Using the ABC data, determine the total amount of overhead cost assigned to each product. 455 orders 395 tests 40 templates S 9,800 MHs

Units produced Production runs per quarter Direct materials cost per unit Direct labor cost per unit Supervision Setup labor Incoming inspection Total overhead Manufacturing overhead in the plant has three main functions: supervision, setup labor, and Incoming material Inspection. Data on manufacturing overhead for a representative quarter follow: $ 288,750 336,000 241,500 $ 866,250 Standard 14,000 a. Using current costing system b. Using proposed ABC system 50 $30 50 Required: a. Compute the unit costs for the two products, Standard and Premium, using the current costing system at Benton (using direct labor costs as the allocation basis for overhead). b. Compute the unit costs for the two products, Standard and Premium, using the proposed ABC system at Benton. Note: For all requirements, do not round Intermediate calculations. Round your answers to 2 decimal places. S S Answer is complete but not entirely correct. Premium 3,500 25 $64 75 Unit cost Standard 120.00 X S 117.67 X S…

Subject: acounting

Estimated Estimated Cost Drivers Activity Cost Overhead Street Mountain Pools Costs Tires Tires Machine set ups $  90,000 150 350 Assembling $500,000 25,000 15,000 Inspection $400,000 180 320   Question Using the activity-based costing approach, determine the applied overhead rates for Darter Company.

Cost per Unit Direct materials. Direct labor Shakti Company budgets overhead cost of $108,000 for the year. The company reports the following for its standard and deluxe models. Standard $ 14 20 Deluxe $ 25 29 Required 1 Required 2 Saved Complete this question by entering your answers in the tabs below. 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 7,200 direct labor hours. 2. The standard model uses 2 direct labor hours per unit and the deluxe model uses 3 direct labor hours per unit. Compute overhead cost per unit for each model. 3. Compute the total product cost per unit for both models. Required 3 >

Please do not give solution in image format thanku

please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)

COST ACCOUNTING

please put a step by step solution and explanation

Need help with this question from the prior chapter this is one of them I'm stuck on

Course: Accounting for Decision Making and Control   The  West Point plan of  Walkers Electronics Company has the following standards  for component C91: Standards:             Material                                                          2 units of material B             Material Price                                                 $10 per unit of B             Direct labor                                                     1 hour             Wage rate                                                       $10 per direct labour hour             Variable support cost rate                              $25 per direct labour hour Actual results for March             Used 4,200 units of B, purchased at $9.75 per unit of B             Paid for 2,000 direct labour hours at $11 per hour             Incurred $48,000 of variable support costs             Manufactured 2,000 units of component C91 Required: Determine  any  (5)  five of following variances for March: Total direct material…

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

Preparation of Process Accounts (Without process losses and no WIP) Practice Problem 1 Following figures show the cost of a product which passes through three processes. In January 2020, 1000 units were produced. Prepare the process accounts and find out cost per unit of each process. Particulars Process I (in RO) Process II (in RO) Process III (in RO) Raw Materials 50,000 30,000 20,000 Wages 30,000 25,000 25,000 Direct Expenses 7,000 3,000 5,000 Overhead expenses were RO 12,000 and it should be apportioned on the basis of wages.

10

Module 4 - Activity-Based Costing: Activity 1 Problem on Activity based costing: Babes Manufacturing, Inc. Provided the following information for the month of October, 2020: Product Honey Product Hapi 850 units Number of units produced Activities/Cost Drivers: 450 units Materials handling Production set-up Quality inspections Machine depreciation Additional data: 900 kilos 9 runs 80 hours 3,200 kilos 15 runs 120 hours 280 hours 505 hours Direct material per unit Direct labor Factory overhead is applied at the rate of 100% based on direct labor cost Estimated overhead costs for October, 2020 amounts to P160,000. The product is selling at 20% above cost. P400.00 P600 50% of direct materials Factory overhead costs estimates for year 2020: Estimated number Estimated Acfivity Cost Drivers of cost drivers Overhead cost Materials handling Production set-up Quality inspections Machine depreciation Machine hours No. Of kilos No. Of rund Inspection hours 50,000 kilos 300 runs 4,000 hours 20,000…

Required information Use the following information for the Exercise below. (Algo) [The following information applies to the questions displayed below.] Barnes Company reports the following for its product for its first year of operations. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 36 per unit $ 26 per unit $12 per unit $ 70,000 per year $3 per unit $ 28,000 per year Exercise 6-5 (Algo) Computing gross profit at different production levels LO P2 The company sells its product for $140 per unit. Compute gross profit using absorption costing assuming the company (a) produces and sells 2,800 units and (b) produces 3,500 units and sells 2,800 units. (a) 2,800 Units Produced Gross profit using absorption costing and 2,800 Units Sold Sales Cost of goods sold Gross profit (b) 3,500 Units Produced and 2,800 Units Sold

COMPLETE QUESTIONS 3, 4 and 5. I have already completed the first two questions. The answer to the first question is= predetermined overhead rate is 130%. The answer to the second question is= underapplied over head by $4200.

EXERCISES Variable costing versus absorption costing Yellowstone Fabricators uses a process cost system and applies actual factory overhead to work in process at the lend of the month. The following data came from the records for March: E10-1 L01 Direct materials.... $200,000 Direct labor. $100,000 Variable factory overhead.. $ 80,000 Fixed factory overhead. $ 60,000 Similar to $ 40,000 25,000 Recall and Review 1 Selling and administrative expenses Units produced... Units sold... 20,000 Selling price per unit... $25 There were no beginning inventories and no ending work in process inventory. From the information presented, compute the following: 1. Unit cost of production under absorption costing and variable costing. 2. Cost of the ending inventory under absorption costing and var- iable costing. Comparative income statements-variable and absorption costing Using the information presented in E10-1, prepare comparative income statements for March (a) under absorption costing and (b)…

Compute for Requirements #4,5,6

Problem

from the above list of 7 types of costs indicate which costs are direct materials and which are mfg overhead

Assume a company is conducting a time-driven activity-based costing study in its Purchasing Department. To aid the study, the company provided the following data regarding its Purchasing Department and three of its many jobs:   Number of employees 14 Average annual salary per employee $ 39,312 Weeks of employment per year 52 Hours worked per week 40 Practical capacity percentage 90%     Requisition Processing Bid Evaluation Inspection Minutes per unit of the activity 30 15 45     Job A Job B Job C Number of requisitions processed 9 5 6 Number of bid evaluations 8 3 4 Number of inspections 6 2 8  How much cost would be assigned from the Bid Evaluation activity to Job A?

Overhead assigned to KJ22 product?

Overhead assigned to KL37?

Question Content Area Complete this production cost report: Enter all amount as positive values. If required round "Cost per unit" answers to two decimal place. Production Cost Report Beginning inventory 21,000     Started during the month 76,000     Total units to account for fill in the blank 1     Completed and transferred out 73,000     Ending work in process fill in the blank 2     Total units to account for fill in the blank 3             Work in process completion percent 100% 25%     Materials Units Conversion Units Total Units Completed and transferred out 73,000 73,000 73,000 Ending work in process fill in the blank 4 fill in the blank 5 fill in the blank 6 Total units to account for fill in the blank 7 fill in the blank 8 fill in the blank 9                 Costs to account for Materials Conversion Total Beginning work in process $3,500 $16,000 $19,500 Transferred in — — — Incurred during the period 25,600 47,200 72,800 Total costs…

NOT GRADED PLEASE ASSIST ME    Traditional Product Costing Versus Activity-Based CostingAssume that Panasonic Company has determined its estimated total manufacturing overhead cost for one of its plants to be $192,000, consisting of the following activity cost pools for the current month: Activity Centers Activity Costs Cost Drivers Activity Level Assembly setups $39,000 Setup hours 1,500 Materials handling 9,000 Number of moves 300 Assembly 120,000 Assembly hours 12,000 Maintenance 24,000 Maintenance hours 1,200 Total $192,000       Total direct labor hours used during the month were 8,000. Panasonic produces many different electronic products, including the following two products produced during the current month:   Model X301 Model Z205 Units produced 1,000 1,000 Direct materials costs $9,000 $9,000 Direct labor costs $6,500 $6,500 Direct labor hours 500 500 Setup hours 50 100 Materials moves 25 50 Assembly hours 800 800…

Subject : Accounting