4. KLM company's direct cost and overhead details given below in August 2022. Cost accountingdepartment distributes to rent to departments on the basis of floor area in sq. and allocates servicedepartment cost to manufacturing departments based on total area of department A and B4CostsDirect MaterialDirect CostsRentDistribution BaseFloor Area m2Total$ 500 000$ 280 000$70 0001400ManufacturingA260 000150 000720DepartmentsB240 000130 000480Required:110s fooda. Distribute depreciation to departmentsb. Allocate service department cost to manufacturing departments.c. Calculate total costs of manufacturing departmentsd. Assume Department A produced 5 000 units Product ADepartment B produced 7 000 units Product BCalculates unit cost of product A and product BSEASONService DepartmentsC200

Lets understand the basics. Overhead is a cost which can not be alloted to specific product so it…

4. KLM company's direct cost and overhead details given below in August 2022. Cost accounting departiment distributes to rent to departments on the basis of floor area in sq. and allocates service department cost to manufacturing departments based on total area of department A and B Costs Direct Material Direct Costs Rent Distribution Base Floor Area m2 afric Total $ 500 000 $ 280 000 $70 000 1400 Manufacturing Ak 260 000 150 000 720 Departments Service Departments B 240 000 130 000 480 C 200

4. KLM company's direct cost and overhead details given below in August 2022. Cost accounting departiment distributes to rent to departments on the basis of floor area in sq. and allocates service department cost to manufacturing departments based on total area of department A and B Costs Direct Material Direct Costs Rent Distribution Base Floor Area m2 afric Total $ 500 000 $ 280 000 $70 000 1400 Manufacturing Ak 260 000 150 000 720 Departments Service Departments B 240 000 130 000 480 C 200

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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Presented below are incomplete 2022 manufacturing cost data for Sunland Corporation. Determine the missing amounts. Direct Total Work in Materials Direct Manufacturing Manufacturing Process Used Labor Overhead Costs (1/1) $35,720 $75,200 $45,120 $112,800 (b) $140,060 $49,820 $84,600 $274,480 2$ (c) $49,820 $109,040 $113,740 $272,600 $378,820
Complete the following (assume $93,500 of overhead to be distributed): (Round the "Ratio" to 2 decimal places.) Amount of Overhead Square Feet Ratio Allocated Department A Department B 15,040 31,960
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ator=&inpr... 18 R Print Item Calculating Departmental Overhead Rates and Applying Overhead to Production At the beginning of the year, Glaser Company estimated the following: Assembly Testing Department Department Total Overhead $364,000 $371,280 $735,280 Direct labor hours 157,500 118,125 275,625 Machine hours 50,500 54,540 105,040 Glaser uses departmental overhead rates. In the assembly department, overhead is applied on the basis of direct labor hours. In the testing department, overhead is applied on the basis of machine hours. Actual data for the month of March are as follows: Assembly Testing Department Department Total Overhead $43,680 $44,554 $88,234 Direct labor hours 18,900 14,175 33,075 Machine hours 6,060 6,545 12,605 Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate per direct labor hour Testing department overhead rate per machine hour Check My Work 4…
Presented below are certain operating data for the four departments of Tally Manufacturing Company. Service Production 1 2 1 2 Total manufacturing overhead costs either identifiable with or allocated to each department $72,000 $86,400 $108,000 $117,600 Square feet of factory floor space 48,000 96,000 Number of factory workers 110 70 Planned direct labor hours for the year 24,000 36,000 Allocate, to the two production departments, the costs of service departments 1 and 2, using factory floor space and number of workers, respectively, as bases. Do not round bases when calculating reallocations of service departments. Production 1 2 Identifiable and allocated overhead Answer Answer Reallocation of service departments: Dept. 1 Factory floor space Answer Answer Dept. 2 Number of factory workers Answer Answer Total manufacturing overhead Answer Answer What is the apparent…
The following cost data pertains to DEF Inc. for December 31st, 2022: Ending Raw Materials Inventory: Beginning Work-in-Process: Ending Work-in-Process: Direct Materials Used: Direct Costs Incurred in Production: Indirect costs incurred in Production: Beginning Finished Goods Inventories: Ending Finished Goods Inventories: Sales: Selling and Administrative Expenses: Applied Overhead for the period: $50,000 $30,000 $15,000 $20,000 $40,000 $40,000 $40,000 $20,000 $190,000 $40,000 $40,000 The cost of goods sold for 2022 is $115,000 x. $137,000 $175,000 $135,000
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