1. WHAT WOULD BE THE PER UNIT OVERHEAD COST FOR PRODUCT SENEN IF DIRECT LABOR HOURS WERE THE ALLOCATION BASE?2. WHAT WOULD BE THE PER UNIT OVERHEAD COST OF PRODUCT PETER IF ABC WERE USED?3. WHAT WOULD BE THE PER UNIT OVERHEAD COST OF PRODUCT SENEN IF ABC WERE USED? 6. JYD Corporation produces three products. The production and cost data show thefollowing:ProductPeterSenenEthelUnits Produced10,00030,00060,000Direct Labor Hours20,00010,00020,000Number of setups5007501,250Number of shipments1,0001,1251,375Engineering change orders755025Overhead costs include setups P450,000; shipping costs P700,000 andengineering costs P900,00.What would be the per unit overhead cost for product Senen if direct labor hourswere the allocation base?Pls answer like this 17.2813.67

. WHAT WOULD BE THE PER UNIT OVERHEAD COST FOR PRODUCT SENEN IF DIRECT LABOR HOURS WERE THE ALLOCATION BASE? 2. WHAT WOULD BE THE PER UNIT OVERHEAD COST OF PRODUCT PETER IF ABC WERE USED? 3. WHAT WOULD BE THE PER UNIT OVERHEAD COST OF PRODUCT SENEN IF ABC WERE USED?

. WHAT WOULD BE THE PER UNIT OVERHEAD COST FOR PRODUCT SENEN IF DIRECT LABOR HOURS WERE THE ALLOCATION BASE? 2. WHAT WOULD BE THE PER UNIT OVERHEAD COST OF PRODUCT PETER IF ABC WERE USED? 3. WHAT WOULD BE THE PER UNIT OVERHEAD COST OF PRODUCT SENEN IF ABC WERE USED?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Q.How do managers plan for variable overhead costs?

A: The cost which is dependent upon the level of output and changes if the level of output fluctuates…

Q: Product costs are expensed Group of answer choices When the product unit cost is calculated. When…

A: Solution: Product costs is capitalized in inventory when same is produced. However when products are…

Q: Which of the following would be included in the cost of a product manufactured according to variable…

A: Variable costing: Variable costing is a method that considers only the variable cost and ignores all…

Q: How does the planning of fixed overhead costs differ from the planning of variable overhead costs?

A: Variable cost: The cost which fluctuates on the basis of the output level produced. The variable…

Q: 38) A predetermined overhead rate is calculated by dividing actual overhead cost by the actual…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Identify the following as fixed costs (F), variable costs (V), or mixed costs(M). direct labor…

A: A cost that changes, in total dollar amount, with the change in the level of activity is called…

Q: What is the basic difference between absorption costing and variable costing? What are the…

A: Product costs are those kinds of costs which is related to the procedure of production directly like…

Q: What is an overhead consumption ratio? What is activity-based product costing? Explain how costs are…

A: Overhead consumption ratio: The overhead consumption ratio simply estimate the proportion of each…

Q: Is hiring of specialized manufacturing equipment a manufacturing overhead cost? Explain why or why…

A: Overhead cost is the sum of all indirect costs which are not directly traceable to the final goods…

Q: how do I find total over- or underapplied fixed manufacturing overhead?

A: Overhead: Overhead refers to the costs, which are utilized in business activities, however cannot be…

Q: What does the following statement mean? “Accounting for overhead involves an important costbenefit…

A: Overheads are typically accounted by accumulating costs and dividing the total costs by the total…

Q: Which among the following is not a direct cost? a. Labour b. Raw material c. Factory wages d.…

A: Introduction : Direct costs: The cost which are directly linked to the manufacturing of a product…

Q: When materials and supplies are used in a product that will be sold to customers, the usage of the…

A: The answer for the multiple choice question and relevant explanation are presented hereunder :…

Q: Explain the benefits of using a predetermined overhead rate instead of an actual overhead rate.

Q: Which of the following are period costs? *

A: Period costs are also known as period expenses. These are expenses that are incurred during a given…

Q: Why factory overhead is computed based on direct labor?

A: Refer Step 2 for explanation

Q: The marginal cost is: Select one: a. Is the incremental cost of an activity, such as producing a…

A: Marginal cost refers to the additional cost.

Q: What are the three common approaches for assigning overhead costs to products?

Q: Is it possible to have under- or overapplied overhead costs in a process costing system? Explain.

A: Process Costing: Process costing is a method of cost accounting, which is used when the production…

Q: Which one of the following activity shows semi-variable cost behaviour A. Unit level activity B.…

A: A semi-variable cost, also known as a semi-fixed cost or a mixed cost, is a cost composed of a…

Q: When would job-order costing be used instead of process costing?

A: Job order costing: Job order cost system provides a separate record of each particular quantity of…

Q: What are the justifications for using practical capacity as the denominator volume when…

A: Fixed cost volume variance: The fixed cost volume variance is the difference between the budgeted…

Q: In your own words, explain the difference between absorption costing and variable costing methods.…

A: Absorption costing: Its also called as Full costing.

Q: What is the difference between a product cost and a period cost? Give three examples of each. 2.…

A: The costs can be classified as classified as product cost, period cost, direct costs or indirect…

Q: Calculate the total absorbtion rate used to apportion manufacturing overhead by?

A: The absorption rate is assigned according to the various allocation grounds. Hours of direct work…

Q: What does it means when the Overhead rates in the direct method have a figure which is higher than…

A: Overheads: It refers to the business indirect expenses that are required to run a business activity.…

Q: What is the difference between a Job Order Cost System and a Process Cost System? Give an example…

A: Cost accounting system: Cost accounting system of an organization consists of procedures and…

Q: Direct material used Direct labor Variable manufacturing overhead Fixed manufacturing overhead…

A: Formula: Per Unit cost = Direct materials + Direct labor + Variable manufacturing overhead + Fixed…

Q: How do you calculate the predetermined overhead rate do you have an example

A: An allocation rate used to estimate the manufacturing costs is termed as predetermined overhead…

Q: Atlanta Systems produces two different products, Product A, which sells for $450 per unit, and…

A: The indirect costs include the factory overhead costs incurred into the production process. The…

Q: "Under variable costing system, the unit product cost includes:" "Direct materials, direct…

A: Variable costs are those costs which changes directly with change in level of activity. If level of…

Q: Which cost accounting method assumes that the cost of production is driven by the number of units…

A: Methods of costing Different industries follow different methods for ascertaining cost of their…

Q: ost accounting method assumes that the cost of production is driven by the number of units produced?…

A: The basic premise of ABC Costing is that each activity within an organization consumes resources,…

Q: Explain why the fixed manufacturing overhead cost per unit changes when there is a change in the…

A: Manufacturing overhead costs: "The costs, which do not relate directly with the manufacturing of…

Question

1. WHAT WOULD BE THE PER UNIT OVERHEAD COST FOR PRODUCT SENEN IF DIRECT LABOR HOURS WERE THE ALLOCATION BASE?

2. WHAT WOULD BE THE PER UNIT OVERHEAD COST OF PRODUCT PETER IF ABC WERE USED?

3. WHAT WOULD BE THE PER UNIT OVERHEAD COST OF PRODUCT SENEN IF ABC WERE USED?

6. JYD Corporation produces three products. The production and cost data show the
following:
Product
Peter
Senen
Ethel
Units Produced
10,000
30,000
60,000
Direct Labor Hours
20,000
10,000
20,000
Number of setups
500
750
1,250
Number of shipments
1,000
1,125
1,375
Engineering change orders
75
50
25
Overhead costs include setups P450,000; shipping costs P700,000 and
engineering costs P900,00.
What would be the per unit overhead cost for product Senen if direct labor hours
were the allocation base?
Pls answer like this 17.28
13.67

Definition Definition Indirect costs incurred while producing goods or services. Overhead costs cannot be directly attributed to products or services. Overhead includes indirect material cost, indirect labor cost, rent, utilities expenses, and depreciation. Since these costs directly affect the profitability of a company, managing overhead becomes an important task for management.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Please explain:: What is the purpose of an overhead rate What are the steps to apply the overhead cost to a product What does it represent when the overhead cost for over-applied
Which costing system would be more efficient when direct materials and direct labor costs are high, and overhead costs are low?
Comp4-1 (similar to) i More Info Mass Delivery Service completed the following transactions during December 2 A (Click the icon to view the transactions.) Accrued Salaries Expense, $1,000. b. Depreciation was recorded on the truck using the straight-line method. Assume la useful life of five years and a salvage value of $1,000. c. Prepaid Insurance for the month has expired. d. /Office supplies on hand, $300. e. Unearned Revenue earned during the month, $1,000. f. Accrued Service Revenue, $1,250. Read the requirements. Acc. = Accumulated, Dep. = Depreciation, Exp. = Expense.) (Click the icon to view the adjustment information.) Mass Delivery Service Worksheet December 31, 2018 Print Done Unadjusted Trial Balance Adjustments Account Title Debit Credit Mass Delivery Service began operations by receiving $15,000 cash and a truck with a fair value of $10,000 from Ripley Mass. The business issued Mass shares of common stock in exchange for this contribution. Cash 28,060 Dec. 1 Accounts…
Indicate whether the following statement is true or false, then support your view. By using a single cost pool and a single cost driver to allocate overhead, the more traditional methods of overhead assignment fully considers the influence on cost of the different activities that occur to make a product.
When used as the denominator in the calculation of an overhead rate, which of the following will cause the least amount of overhead to be applied? a. Theoretical activity level b. Expected activity level c. Practical activity level d. Normal activity level
How does time and motion study works? How could this method or process quantify the labor standard cost? Also, is it really reliable? Why?
Do the engineering decisions account for the majority of product costs?
| What reasons is product cost information needed, job order cost system and process cost system?
Which of the following is not considered a cost of manufacturing a product? Group of answer choices direct materials cost factory overhead cost salaries of the administrative assistants direct labor cost
Prime cost is? A)Group of answer choices B)indirect materials cost and direct labor cost. C)direct materials cost and direct labor cost. D)direct labor cost and indirect labor cost. E)direct materials cost and indirect labor cost.
Which of the following is not a method of cost absorption? (a) Percentage of direct material cost (b) Machine hour rate (c) Labour hour rate (d) Repeated distribution method
Why are overhead costs allocated to products and not traced to products as direct materials and direct labor are?