-/1Question 24View PoliciesCurrent Attempt in ProgressTomy Toys is planning to sell 200 action figures and to produce 190 action figures in July. Each action figure requires 100grams of plastic and a half hour of direct labor. The cost of the plastic used in each action figure is $5 perEmployees of the company are paid at a rate of $15.00 per hour. Manufacturing overhead is applied at a rate of 120 % ofdirect labor costs. Tomy Toys has 90,000 grams of plastic in its beginning inventory and wants to have 80,000 grams inits ending inventory. What is the amount of budgeted direct labor cost for the month of July?100 grams.O $1,500.O $1,425.O $2,850.O $3,000.(2 ATthpinsprt schomehzdelete444+&7%5inubackspace6PenterKHpausectreI

Answered: -/1 Question 24 View Policies Current…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company produces three components on the same machine. The components are used i the manufacture of a finished product. The budget for next year indicates a requirement for 3,000 units of each component, but only 60,000 hours of machine time will be available. Additional components can be purchased from an external supplier to meet any production shortfall. Component Machine hours per unit A B с 9 5 O $537,000 O $543,000 O $549,000 O $553,000 12 Show Transcribed Text Variable production cost per unit $ per unit 45 70 56 Purchase price from external supplier $ per unit 65 78 80 What is the minimum total variable cost at which the 3,000 units of all three components can be obtained?
Soul Socket Inc. manufactures socket wrenches. . For next month, the vice president of production plans on producing 4,450 wrenches per day. The company can produce as many as 5,000 wrenches per day, but is more likely to produce 4,500 per day. . The demand for wrenches over the past three years averaged 4,250 wrenches per day. • Fixed manufacturing costs per month total $374,000. . The company works 22 days a month. • Fixed manufacturing overhead is charged on a per-wrench basis. a. What is the overhead rate per wrench based on Theoretical Capacity? [Select] b. What is the overhead rate per wrench based on Practical Capacity? [Select] c. What is the overhead rate per wrench based on Normal Utilization? [Select] d. What is the overhead rate per wrench based on Master Budget Utilization? [Select]
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Clone Computers assembles and packages personal computer systems from brand-name components. Its Home Office PC System is assembled from components costing $1400 per system and sells for $2000. Labour costs for assembly are $100 per system. This product line's share of overhead costs is $10,000 per month. a. How many Home Office systems must be sold each month to break even on this product line? b. What will be the profit or loss for a month in which 15 Home Office systems are sold?
Answer all subparts a to f.if answered within 30mins,it would be helpful Accounting ETS manufactures a component for its computer products. The annual demand for thiscomponent is 2500 units. The annual cost of maintaining inventory is10% per unit and the cost of preparing an order and setting up productionfor the order is $ 50.The machine used to make this part has a production rate of 10,000units per year and the cost is $ 22 per unit.a. Find the EPQ(Economic Production Quantity)A. How long does it take to produce the batch?B. How many batches will be produced per year?C. What is the maximum inventory level?D. What is the total cost per year?E. A supplier offers to sell a similar component for $ 25 per unit with a charge$ 5 per service per order. Should the company accept the offer?F. Find the average inventory level for each situation
Ceder Company has compiled the following data for the upcoming year: Sales are expected to be 16,000 units at $52 each. Each unit requires 4 pounds of direct materials at $2.40 per pound. Each unit requires 2.1 hours of direct labor at $13 per hour. Manufacturing overhead is $4.90 per unit. Beginning direct materials inventory is $5,400. Ending direct materials inventory is $6,950. Selling and administrative costs totaled $138,720. Determine Ceder's budgeted cost of goods sold. Complete Ceder's budgeted income statement.
d
Becker Bikes manufactures tricycles. The company expects to sell 360 units in May and 490 units in June. Beginning and ending finished goods for May are expected to be 100 and 65 units, respectively. June's ending finished goods are expected to be 75 units. Each unit requires 3 wheels at a cost of $6 per wheel. Becker requires 20 percent of next month's material production needs on hand each month. July's production units are expected to be 460 units. Compute Becker's direct materials purchases budget with respect to wheels for May and June. Budgeted cost of wheels purchased May June
kk.4
Wheel and Tire Manufacturing currently produces 1,000 tires per month. The following per unit data apply for sales to regular customers: Direct materials Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing costs Select one: The plant has capacity for 3,000 tires and is considering expanding production to 2,000 tires. What is the total cost of producing 2,000 tires? a. $39,000 b. $78,000 C. 1. $62,000 $20 3 d. they are all wrong 6 10 $39
Q5: Clone Computers assembles and packages personal computer systems from brand-name components. Its Home Office PC System is assembled from components costing $1400 per system and sells for $2000. Labour costs for assembly are $100 per system. This product line's share of overhead costs is $10,000 per month. a) How many Home Office Systems must be sold each month to break even on this product line? ________ b) What will be the profit or loss for a month in which 13 Home Office Systems are sold? _________
Subject: Acounting

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