#7.1

Unit Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense $ 7.00 $ 4.00 $ 1.50 $ 5.00 $ 3.50 Fixed administrative expense $ 2.50 Sales commissions $ 1.00 Variable administrative expense $ 0.50 Required: 1. Assume the cost object is units of production: a. What is the total direct manufacturing cost incurred to make 20,000 units? b. What is the total indirect manufacturing cost incurred to make 20,000 units? 2. Assume the cost object is the Manufacturing Department and its total output is 20,000 units. a. How much total manufacturing cost is directly traceable to the Manufacturing Department? b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department? 3. Assume the cost object is the company's various sales representatives. Furthermore, assume the company spent $50,000 of its total fixed selling expense on advertising and the remainder of the total fixed selling expense…

What should the "Direct Labor" be?

10

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Problem 7-16 (Algo) Comparing Traditional and Activity-Based Product Margins [LO7-1, L07-3, LO7-4, LO7-5] Hi-Tek Manufacturing, Inc., makes two types of industrial component parts-the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement $ 1,657,500 1,224,620 432,880 620,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $4 (187,120) Hi-Tek produced and sold 60,500 units of B3o0 at a price of $19 per unit and 12,700 units of T500 at a price of $40 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: в300 T500 Total Direct materials $ 400,600 $ 120,400 $ 162,700 $ 42,000 563,300 162,400 498,920 Direct labor Manufacturing overhead Cost of goods sold $…

Factory overhead is: 6150000

How can I do this problem? Required: Calculate the cost per equivalent unit for materials, labor and manufacturing overhead and in total Cost per equivalent unit-Weighted-Average Method         Material Labor Overhead Working in process, May 1….   $18,000 $5,500 $27,500 Cost Added during May   238,900 $80,300 $401,500 Equivalent units of production   35,000 33,000 33,000

A corporation's cost data is: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense What is the amount of product costs, if 4,000 units are produced? Multiple Choice O O O O $57,200 $8,800 $44,400 $53,200 Cost per Cost per Unit Period $ 6.00 $ 3.35 $ 1.75 $ 1.00 $ 0.40 $ 8,800 $ 4,000

5 Vista Company reports the following information. Direct materials Direct labor Variable overhead Fixed overhead Units produced Compute its product cost per unit under absorption costing. Multiple Choice $76.00. $152.00. $171.00. $ 44 per unit 64 per unit $ 44 per unit $ 380,000 per year 20,000 units < Pr

Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $ 5.00 $ 2.90 $ 1.25 $1.00 $ 0.55 Cost per Period $21,000 $7,500 If 4,000 units are produced, the total amount of direct manufacturing cost incurred is closest to:

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nable Robin Company has the following balances for the current month: Direct materials used $10,000 $25,000 $ 9,800 $ 2,000 $ 6,450 $ 9,650 $ 4,300 Direct labor Sales salaries Indirect labor Production manager's salary Marketing costs Pactory lease What ere Robin's prime costs?

What type of cost exhibits the behavior shown below? Manufacturing Volume (Units) Cost Per Unit 50,000 $1.95 70,000 1.95   Select one: a. Discretionary fixed cost b. Step-fixed cost. c. Semivariable cost.d. Variable cost. e. Fixed cost

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Chhom Incorporated, manufactures and cells two products Product F and Product U4 Data concerning the expected production of each product and the expected total direct labor hours (DLH required to produce that output appear below Product F9 Product 04 Total direct labor-hoursi Expected Direct Labor-Hours Total Direct Production 300 600 Activity Cost Pools Labor-related Production orders order size Per Unit 4.0 2.0 The direct labor rate is $25.90 per DLH The direct materials cost per unit is $285 for Product F9 and $244 for Product 4 The company is considering adopting an activity based costing system with the following activity cost pools, activity measures, and expected activity Activity Measures DLHS orders MHS Estimated Overhead Cost Product $ 42,600 67,630 137,820 $ 248,050 Labor-Hours 1,200 1,200 2,400 1,200 400 3,300 Expected Activity Product U 1,200 GOO 3,100 Total 2,400 1,000 4,400

Per Unit Total\\nDirect materials $ 5.00 \\nDirect labor 2.00 \\nSupervision 1.90 $ 123,500\\nDepreciation 1.40 $ 91,000\\nVariable manufacturing overhead 0.60 \\nRent 0.60 $ 39,000\\nTotal product cost $ 11.50 \\n \\n\\nIf Futura decides to make the starters, a supervisor would have to be hired (at a salary of $123,500) to oversee production. However, the company has sufficient idle tools and machinery such that no new equipment would have to be purchased. The rent charge above is based on space utilized in the plant. The total rent on the plant is $81,000 per period. Depreciation is due to obsolescence rather than wear and tear.\\n\\n \\n\\nRequired:\\n\\nWhat is the financial advantage (disadvantage) of making the 65,000 starters instead of buying them from an outside supplier?

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Identify the semi-variable costs:                                                                          10,000 units              18,000 units Materials                                                           $15,000                     $27,000Labour                                                              $13,000                     $19,400Rent                                                                  $11,500                     $11,500Selling overheads                                               $30,000                     $46,000   Question 2 options:   1)  materials and labour   2)  labour and rent   3)  rent and selling overheads   4)  labour and selling overheads

Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense What is the total conversion cost? Multiple Choice O O O $106,000 $74,000 $97,000 $49,000 $ 12,000 25,000 $ 15,000 20,000 $ 8,000 12,000 $70,000 $ 37,000 $ 37,000 $ 35,000 $ 20,000

The East Company manufactures several different products. Unit costs associated with Product ORD210 are as follows: Direct materials $54Direct manufacturing labor 8Variable manufacturing overhead 11Fixed manufacturing overhead 25 Sales commissions (2% of sales) 5Administrative salaries 12Total$115What are the period costs per unit associated with Product ORD203 ? Oa. $120 b. $50 c. $17© d $18

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McGown Corporation has the following information: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Raw materials purchases Direct labor Manufacturing overhead applied Indirect materials Compute the total current manufacturing costs. Multiple Choice O Beginning Inventory (1/1) $ 23,500 $79,200 $259,300 18,400 36,000 Ending Inventory (12/31) $ 37,300 $ 105,600 81,100 86,400 0 27,400 27,200

Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense $8.70 $5.70 $3.20 $6.70 $5.20 $4.20 $2.70 $2.20 Required: 1. What is the incremental manufacturing cost incurred if the company increases production from 28,000 to 28,001 units? 2. What is the incremental cost incurred if the company increases production and sales from 28,000 to 28,001 units? 3. Assume that Kubin Company produced 28,000 units and expects to sell 27,630 of them. If a new customer unexpectedly emerges and expresses interest in buying the 370 extra units that have been produced by the company and that would otherwise remain unsold, what is the incremental manufacturing cost per unit incurred to sell these units to the customer? 4. Assume that Kubin Company produced 28,000 units and expects to sell 27,630 of them. If a new customer unexpectedly emerges and expresses interest in buying…

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