5-21 ABC, process costing. Parker Company produces mathematical and financial calculators and oper- ates at capacity. Data related to the two products are presented here: TI Mathematical Financial Annual production in units Direct material costs Direct manufacturing labor cests Direct manufacturing labor-hours Machine-hours Number of production runs Inspection hours 50,000 S150,000 S 50,000 2,500 25,000 50 1,000 100,000 $300,000 S100,000 5,000 50,000 50 500 CHAPTERG ACTIMIY BASED COSTING AND ACTMIY-BASED MANAGEMENT Total manufacturing overhead costs are as follows: Machining costs Setup costs Inspection costs Total S375,000 120,000 105,000 Required 1. Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost per unit for each product. 2. Compute the manufecturing cost per unit for each product. Act

5-21 ABC, process costing. Parker Company produces mathematical and financial calculators and oper- ates at capacity. Data related to the two products are presented here: TI Mathematical Financial Annual production in units Direct material costs Direct manufacturing labor cests Direct manufacturing labor-hours Machine-hours Number of production runs Inspection hours 50,000 S150,000 S 50,000 2,500 25,000 50 1,000 100,000 $300,000 S100,000 5,000 50,000 50 500 CHAPTERG ACTIMIY BASED COSTING AND ACTMIY-BASED MANAGEMENT Total manufacturing overhead costs are as follows: Machining costs Setup costs Inspection costs Total S375,000 120,000 105,000 Required 1. Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost per unit for each product. 2. Compute the manufecturing cost per unit for each product. Act

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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Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10060. All amounts are in OMR. |Total Costs |500000 Variable Cost ? | 400000 Fixed Cost |Direct material cost |Total labor cost |Manufacturing Overhead ? 100000 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y =f+ vX, D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month
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Cost per Equivalent Unit—Weighted-Average Method Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total.
Subject: Cost AccountingPlease answer the questions given. Thank you!
Glew Corporation has provided the following information: Variable manufacturing overhead Fixed manufacturing overhead Direct materials Direct labor Sales commissions $1.00 Variable administrative expense $0.40 Fixed selling and administrative expense $57,200 Cost per Unit Cost per Period $6.00 $3.35 $1.75 $8,800 $44,400 $53,200 $ 4,000 For financial reporting purposes, the total amount of product costs incurred to make 4,000 units is closest to: $ 8,800
Data concerning three of Kilmon Corporation’s activity cost pools appear below: Activity Cost Pools Estimated Overhead Cost Expected Activity Assembling products $ 65,540 4,520 assembly hours Designing products $ 578,112 3,011 product design hours Setting up batches $ 41,820 820 batch set-ups Required: Compute the activity rates for each of the three cost pools. (Round your answers to 2 decimal places.) Activities Activity rate Assembly products Designing products Setting up batches
Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost 500000 ? ? Total labor cost ? 400000 100000 Manufacturing Overhead 90000 30000 ? Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y = f + vX. D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month Question 6: Find the missing information for different companies Output (units) Fixed Costs Variable Costs Total Costs Cost per unit Company A 4000 70000 50000 ? ? Company B 5000 80000 ? 140000 ? Company C 8000 30000 130000 ? ? Company D ? ? 80000 100000 20
Sheffield Company had the following department information for the month: Total materials costs Equivalent units of production for materials Total conversion costs Equivalent units of production for conversion costs What is the total manufacturing cost per unit? O $3.20. O $7.90. O $4.70. O $3.63. $47000 10000 $80000 25000
Course: Accounting for Decision Making and Control The West Point plan of Walkers Electronics Company has the following standards for component C91: Standards: Material 2 units of material B Material Price $10 per unit of B Direct labor 1 hour Wage rate $10 per direct labour hour Variable support cost rate $25 per direct labour hour Actual results for March Used 4,200 units of B, purchased at $9.75 per unit of B Paid for 2,000 direct labour hours at $11 per hour Incurred $48,000 of variable support costs Manufactured 2,000 units of component C91 Required: Determine any (5) five of following variances for March: Total direct material…
10-21 Estimating a cost function using the Account Analysis Approach. Khan Sunil Enterprises, a software engineering firm, uses the account analysis approach to identify the cost behavior of production costs for its premium software. The following details relate to the company's activities for June 2019 in which it produced 350 units. Total Variable Fixed Materials used in production 270,000 Labor costs Production facility costs Total production cost R 10,000 2 4,000 2270,000 2134,000 R130,000 3 3,000 3 17,000 2103,000 100,000 2507,000 3500,000 Required 1. Describe the production cost in the equation form y = a + bx 2. Assume the company intends to produce 400 units next month, calculate the total production costs for the month. 3. Comment on the usefulness of the estimation to management of the company.