A company is working on their budgets for the year 2021. They produce two unique products: Degreaser and Polish. The Degreaser has two Raw Materials: soap and baking soda. The Polish also has two Raw Materials: ketchup and salt. The table below has a few of their expectations for 2021. Expected Finished Goods to produce in 2021 Raw Materials used in production of one unit of Degreaser Raw Materials used in production of one unit of Polish Estimated beginning quantities of Raw Materials Inventory Desired ending quantities of Raw Materials Inventory Degreaser: 8,345 units Polish: 34,719 units Desired ending quantities of Finished Goods Inventory Soap: 4.4 oz at $0.523 per oz Baking Soda: 7.9 oz at $0.351 per oz Estimated beginning quantities of Finished Goods Inventory Ketchup: 1.1 oz at $0.548 per oz Salt: 7.6 oz at $0.408 per oz Soap: 1,235.1 oz Baking Soda: 2,757.2 oz Ketchup: 34,713.6 oz Salt: 49,121.8 oz Soap: 1,491.8 oz Baking Soda: 2,816.7 oz Ketchup: 36,626.2 oz Salt: 48,626.9 oz Degreaser: 10,114 units Polish: 20,679 units Degreaser: 10,349 units Polish: 24,086 units What is the dollar value of budgeted salt purchases? (Round your calculations to a level that makes sense for the situation. Enter your final answer

Q: ne the just tion syster

A: Given: To explain the just in time production system as,

Q: Q1       discuss in detail Cost Accounting, Objectives of Cost Accounting, Essentials of a good…

A: Cost accounting is branch of management accounting in which all costs related with the products like…

Q: Cost assignment and cost accumulation are the two cost accounting system processes that helps…

A: Costing is the method of recording, all cost incurred in process of completing product project and…

Q: 6. What the effect of JIT Systems on Product Costing?

A: Just-in-time, or JIT, is a technique of inventory management or control in which labor, materials,…

Q: 18. Responsibility reports for cost centres include: Controllable Non-controllable costs costs а. No…

A: Responsibility accounting reports activities that are in control by the management.

Q: 9. Selling and administrative costs are direct costs. O inventoriable costs. O period costs.…

A: Ans. The cost incurred by a business entity is broadly divided into two categories as : i. Direct…

Q: 1.Discuss sunk costs and opportunity cost.

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 6. What are costs that vary in proportions to changes in the activity base?

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Q: 3. The allocated cost of an abnormal gain is credited to the process account. 4. The inputs to a…

A:

Q: Q1) Below are the examples of cost objects, except: a. product b. services c. department d.…

A: Cost object means something that the company should measure separately as a object which is…

Q: Which method of allocating support department cost is more accurate method

A: Accurate method of allocating support department cost is "Reciprocal method" because under this…

Q: Differentiate between Cost audit and Financial audit.

A: An auditing is a process where the auditor examines or inspects various books of accounts, followed…

Q: Explain the difference between service cost and prior service cost.

A: Service cost: The present value of the investment made by the beneficiary and the employer in the…

Q: 4. Please state the differences between relevant, opportunity and sunk costs.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Examples of transaction costs

A: Transaction costs are the costs which occur during buying or selling of services and goods. They are…

Q: 3. Why there is a need to identify the standard cost?

A: Standard cost is the estimated cost of a certain process, resource or any item.

Q: Cost assignment and cost accumulation

A: Cost assignment is a process used in cost accounting system to allocate costs among products,…

Q: In your words, take about the Master Scheduling

A: Master production schedule refers to the plan for the production of a good at a time period. It…

Q: A is not an example of a cost objective. a. department b. product c. territory d. All of these…

A: The question asked to find correct the option from the given options.   Cost object: The cost object…

Q: Which of the following is not a function of Cost Accounting? a. Control cost b. Reporting to owners…

A: Solution: "Reporting to owners"  is not a function of Cost Accounting. This is because the functions…

Q: What is underapplied overhead? Overapplied overhead?

A: The under applied overhead is explained as below,

Q: What is cost allocation? Give three examples?

A: Cost allocation :Cost allocation is the allocation of cost to several cost objects such as…

Q: 5. Define the backflush costing

A: Solution:- Back flush costing means as follows under:-

Q: 1. Planning is a function that involves ? 2. Product costs are costs that are a neccessary and…

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Q: 2. Distinguish between direct and indirect costs.

A: Costs or expenditure is the amount which is incurred by the manufacturer entity in the production of…

Q: Distinguish between indirect costs and direct costs.

A: Direct Costs and Indirect Costs are two important costs. Direct costs are those costs which are…

Q: What is meant by underapplied overhead? By overappliedoverhead?

A: Actual overhead cost: These are the indirect manufacturing costs that are actually incurred while…

Q: Activity drivers can be classified as either or_. - Select one: O a. good; bad O b. right; wrong O…

A: An activity driver refers to the factor that influences the cost of an operation. Activity drivers…

Q: What is the rxample of activity based costing?

A: The term "activity-based costing," also referred to as "ABC," describes a technique for calculating…

Q: in management accounting strandard cost ： definition . types of strands and cost . benefit .…

A: Management Accounting: In Management  account or managerial account, directors use information in…

Q: What are three common features of cost accounting

A: Cost Accounting: Cost accounting refers that branch of accounting, which records and analyzes the…

Q: 2 disadvantages of activity based costing

A: ABC costing means Activity based costing.It is used to allocation of manufacturing overhead to…

Q: Direct costs and indirect costs can be easily traced directly to a cost object.

A: Most of business purchases materials process them into finished goods and sells these goods to…

Q: What are the three key features of cost accounting?

A: Cost accounting: It is a process of recording of all the costs incurred in the business in a way…

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.