ACCT 701 ICQ for Module 02 SOLUTIONS

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Problem 3-11 (Algo) T-Account Analysis of Cost Flows [LO3-2, LO3-3, LO3-4] Selected T-accounts of Moore Company are given below for the just completed year:   Raw Materials Bal. 1/1 35,000 Credits ? Debits 160,000     Bal. 12/31 45,000       Manufacturing Overhead Debits 188,400 Credits ?           Work in Process Bal. 1/1 40,000 Credits 530,000 Direct materials 110,000     Direct labor 210,000     Overhead 218,400     Bal. 12/31 ?       Factory Wages Payable Debits 225,000 Bal. 1/1 19,000     Credits 220,000     Bal. 12/31 14,000   Finished Goods Bal. 1/1 60,000 Credits ? Debits ?     Bal. 12/31 90,000       Cost of Goods Sold Debits ?       Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of…

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Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Units Produced Total Costs Period 1 2 0 400 $ 2,525 3,325 3 800 4,125 4 1,200 4,925 5 1,600 5,725 6 2,000 6,525 7 2,400 7,325 8 2,800 8,125 9 3,200 8,925 10 3,600 9,725 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. High-Low method - Calculation of variable cost per unit Total cost at the high point Variable costs at the high point Volume at the high point Variable cost per unit Total variable costs at the high point Total fixed costs Total cost at the low point Variable costs at the low point Volume at the low point Variable cost per unit Total variable costs at the low point Total fixed costs High-Low method - Calculation of fixed costs+ (2) Estimated cost if 3,000 units are produced: Estimated total cost

Cost Accounting assignment 1) Mixed cost – high-low method analysis Byrnes Company accumulated the following data concerning a mixed cost, using units produced as the activity level. Month Units produced Total cost $14,740 $13,250 March 9,800 8,500 April May 7,000 7,600 8,100 $11,100 $12,000 $12,460 June July a. Compute the variable-cost and fixed cost elements using the high-low method. b. Using the information from your answer to part (a), write the cost formula. c. Estimate the total cost if the company produces 8,000 units.

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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced Total Costs 1 0 $ 2,900 2 460 3,774 3 860 4,534 4 1,260 5,294 5 1,660 6,054 6 2,060 6,814 7 2,460 7,574 8 2,860 8,334 9 3,260 9,094 10 3,660 9,854 Exercise 21-6A (Algo) Appendix: Measuring costs using regression LO P1 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. Cost equation = + per unit

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O & https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%25 E pter 1 Assignment i Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Variable cost per unit sold W 90% Save & E= Che

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Problem 2-62 (Static) Cost Concepts (LO 2-1, 6) The accountant at Roland Industries provides you with the following information for the first quarter: Direct labor costs Direct materials inventory, January 1 Direct materials inventory, March 31 Direct materials purchased during the quarter Finished goods inventory, January 1 Finished goods inventory, March 31 Manufacturing overhead for the quarter Work-in-process inventory, January 1 Work-in-process inventory, March 31 Required: a. Compute the following. 1. Total prime costs 2. Total conversion costs 3. Total manufacturing costs 4. Cost of goods manufactured 5. Cost of goods sold $ 202,000 20,700 17,100 271,500 61,000 80,400 293,000 11,700 8,900

AA Period Ccb Home | bartl... of 15 ezto.mheducation.com 22 my.post.edu... Total variable cost 6- Unit 1-C... Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Okay Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: G what is the h... Average Cost per Unit $7.00 $ 4.50 $ 1.40 $ 4.00 $ 4.00 $ 2.10 $ 1.10 $ 0.55 + Init 1 - C... You 6. If 12,500 units are produced and sold, what is the total amount of variable costs related to the units produced and sold? (Do not round intermediate calculations.) 00 ct

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Period Ccb Home | bartl... of 15 ! 2 Required information [The following information applies to the questions displayed below.] my.post.edu... X 9- Unit 1 - C... Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Total fixed manufacturing cost Okay 3 9. If 8,000 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production? 4 5 G what is the h... Init 1 - C... CO 6 7 Average Cost per Unit $ 7.00 $ 4.50 $ 1.40 $ 4.00 $ 4.00 $ 2.10 $ 1.10 $ 0.55 You 8 9 0 ct de

Question 5 Mr. A is a garment manufacturer and has given the following details for calculating the total cost for the period: Direct materials from requisition R-20: $1,000 Direct labor from Time ticked T-29: $150 Estimated Overhead: $300 No Chatgpt other wise I will give unhelpful rating Determine the Total cost for the period from the given information.

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Online teachin X /v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSes The manufacturing costs of Carrie Industries for the first three months of the year are provided belo Total Cost Production January $93,300 2,300 units February 115,500 3,100 March 79,500 1,900 a. Using the high-low method, determine the variable cost per unit. per unit b. Using the high-low method, determine the total fixed costs. %24

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