!Required informationGreenwood Company manufactures two products-14,000 units of Product Y and 6,000 units of Product Z. Thecompany uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The followingadditional information is available for the company as a whole and for Products Y and Z:EstimatedOverheadActivity Cost PoolMachiningMachine setupsProduction designGeneral factoryActivity MeasureMachine-hoursNumber of setupsNumber of productsDirect labor-hoursExpectedActivity10,еее мнs260 setupsCost$ 206, 000$ 145,6002$90,000$ 307, 2002 products12,000 DLHSActivity MeasureMachiningNumber of setupsProduct YProduct Z8,6001,40050210Number of productsDirect labor-hours118,6003,400 13. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z? (Round yourintermediate calculations to 2 decimal places. Round your answers to 2 decimal places.)Product YProduct ZMachine setups cost%

Allocation of machine set up costs is done in the proportion of number of setups required for each…

13. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.) Product Y Product Z Machine setups cost

13. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.) Product Y Product Z Machine setups cost

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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Monte Services, Inc. is trying to establish the standard labor cost of a typical brake repair. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the brake repairs Hourly wage rate Payroll taxes Setup and downtime Cleanup and rest periods Fringe benefits (a) Your answer is correct. (b) eTextbook and Media 5 hours Your answer is correct. $12 20% of wage rate Determine the standard direct labor hours per brake repairs. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor hourly rate $ 11% of actual labor time Standard direct labor hours per brake repair 34% of actual labor time 25% of wage rate 7.25 Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e.g. 1.25.) 17.40 hours Attempts: 1 of 2 used
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Use the following data to answer the question. Inputs of Labor Total Product 0 1 2 3 4 5 6 7 The average product (AP) when seven units of labor are hired is Multiple Choice O O -3. 0 10 22 36 48 58 66 63 18.
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(b) x Your answer is incorrect Following the weighted-average method of process costing, determine the following 1. Total costs to account for in this assembly department. $ 2. The cost per equivalent unit for DM. 3. The cost per equivalent unit for conversion costs. w Transcribed Text No. Account Titles and Explanation (2) WIP Inventory-Assembly RM Inventory WIP Inventory-Assembly Salaries and Wages Payable MOH Control w Transcribed Text Total equivalent units of work done DM J 3,310 $ $ C Conversion Costs 2.750 226660 32 Debit per unit per unit 120,990 42750 Credit As Nash Manufacturing produced bookshelves this month, its accountants were in contact with production managers to keep tabs on costs. The WIP Inventory-Assembly account had a beginning balance as follows: DM costs of $41,200 and conversion costs of $31,500. Additional DM costs were added to this assembly department this month totaling $120.990, along with conversion costs of $42.750. Direct materials were pulled from RM…
! Required information [The following information applies to the questions displayed below.] Cane Company manufactures two products called Alpha and Beta that sell for $135 and $95, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 105,000 units of each product. Its unit costs for each product at this level of activity are given below: Direct materials Direct labour Variable manufacturing overhead Traceable fixed manufacturing overhead Variable selling expenses Common fixed expenses Cost per unit Alpha $30 23 10 19 15 18 $115 Beta $18 16 8 21 11 13 $87 The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are deemed unavoidable and have been allocated to products based on sales dollars.
Saved Required information Data Beginning work in process inventory: 5. Units in process 200 6. Completion with respect to materials 50 % 7 Completion with respect to conversion Costs in the beginning work in process inventory: 40 % 8. 6. Materials cost 2,590 10 Conversion cost 6,184 11 Units started into production during the period 16.500 12 Costs added to production during the period: 13 Materials cost $ 415,325 Conversion cost $ 1,266.500 15 Ending work in process inventory: 16 Units in process 100 17 Completion with respect to materials 50 % 18 Completion with respect to conversion 80 % %24 %24 2. 4. 1.
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Using the conventional method I got the cost per unit for Product A: 54 GBP and Product B: 110 GBP and using the ABC principles I got the cost for Product A: 80 GBP and for Product B: 63 GBP. What are the causes for any differences in the cost based on obtained results?