QuanIf an 80% learning curve is applicable, Grosse Point's total cost on thisorder would be estimated atP26,400.P32,000.c.. P38,000.a.d.P41,800. (CMA, Adapted)b.A particular manufacturing job is subject to an estimated 90% learning59.curve. The first unit required 50 labor hours to complete. What is thecumulative average time per unit after four units are completed?50.0 hours45.0 hours40.5 hoursс.40.0 hoursd.a.b.60. Grosse Point Manufacturing recently completed and sold an order of 50units that had costs as follows:Direct materialsDirect labor (1,000 hours x P8.50)Variable overhead (1,000 hours x P4.00)*Fixed overheadP 1,5008,5004,0001,400P15,400Applied on the basis of direct labor hoursApplied at the rate of 10% of variable costIf Grosse Point had experienced a 70% learning curve, the bid for the150 units wouldshow a 30% reduction in the total direct labor hours required withno learning curve.a.b.include increased fixed overhead costs.be 10% lower than the total bid at an 80% learning curve.include 6.40 direct labor hours per unit at P8.50 per hour.с.d.(CMA, Adapted)61. A widely used approach that managers use to recognize uncertaintyabout individual items and to obtain an immediate financial estimate ofthe consequences of possible prediction errors isexpected value analysis.b. learning curve analysis.sensitivity analysis.d. regression analysis.a.с.(CMA, Adapted)

Name: QuanIf an 80% learning curve is applicable, Grosse Point's total cost
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: QuanIf an 80% learning curve is applicable, Grosse Point's total cost on thisorder would be estimated atP26,400.P32,000.c.. P38,000.a.d.P41,800. (CMA, Adapted)b.A particular manufacturing job is subject to an estimated 90% learning59.curve. The firs

Since you have asked multiple question i will solve only first questions for you if want another…

Business

Accounting

A particular manufacturing job is subjec curve. The first unit required 50 labor hours to complete. What is the cumulative average time per unit after four units are completed? 50.0 hours 45.0 hours а. с. 40.5 hours b. d. 40.0 hours

A particular manufacturing job is subjec curve. The first unit required 50 labor hours to complete. What is the cumulative average time per unit after four units are completed? 50.0 hours 45.0 hours а. с. 40.5 hours b. d. 40.0 hours

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: produced as the allocation base. Its estimated costs, by quarter, for the coming year are given…

A: The formula used is as follows:Total manufacturing overhead cost = Fixed + Variable Manufacturing…

Q: Third: Raw materials and Purchases: Quantity needed from material "M": "E" 17 kg. "F" 13 kg. "G"…

A: To prepare the marketing budget and administrative budget, we need to gather the relevant costs from…

Q: During the last 6 weeks, the actual costs of labor for Solsana Company were as follows: Week 1 Week…

A: The given information pertains to the actual costs of labor for Solsana Company over a span of 6…

Q: Ans

A: Step 1: Calculate Overhead Cost per UnitThe total overhead cost is $54,000.The expected production…

Q: The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost…

A: The high-low method is used to differentiate the mixed cost. The mixed cost is the combination of…

Q: Precision Company estimates its machine-hour requirements for the four quarters to be 35,000 hours,…

A: The objective of the question is to calculate the predetermined overhead rate for the year. The…

Q: Provide answer for this question

A: Approach to solving the question: For better clarity of the solution, I have provided the formula…

Q: The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost…

A: Variable costs: These are the costs that vary with the number of units produced. The more the units…

Q: Exercises: Set A 27. Identifying Cost Behavior. Mining, Inc., is trying to identify the cost…

A: Variable Cost :— It is the cost which is changes with change in units. It is constant in per unit…

Q: s, the theoretical minimum number of workstations

A: We can solve the given question ysing network diagrams. Also, theoritical minimum number of…

Q: The manufacturing costs of Calico Industries for 3 months of the year are as follows: Total Cost…

A: Variable cost can be calculated as change in total cost divided by change in volume under the high…

Q: am. 129.

A: The objective of the question is to calculate the breakeven points, prepare the Full Costing and…

Q: Aberge Company's manufacturing overhead is 60% of its total conversion costs. If direct labor is…

A: Aberge Company's manufacturing overhead is 60% of its total conversion costs. We know the direct…

Q: Apex Corporation estimates that its production for the coming year will be 10,000 units with the…

A: A predetermined overhead rate is the rate used to apply manufacturing overhead to work-in-process…

Q: Exercise # 2 Bogut Company estimates that annual manufacturing overhead costs will be $1,500,000.…

A: Predetermined Overhead Rate :— It is the rate used to allocate manufacturing overhead cost to cost…

Q: The manufacturing costs of Calico Industries for 3 months of the year are as follows: Total Cost…

A: Correct answer is c.$0.25 per unit and $42,050, respectively Calculation: For calculating the…

Q: Bernard Company shows the following mant cturing costs for the first six months of the year:…

A: Variable cost is the cost that changes with change in the activity of cost driver used. The variable…

Q: W A Corporation produces a single product. The cost of producing and selling a single unit of this…

A: Cost per unit is defined as the actual cost an entity disburses to create or acquire a single item.…

Q: Stuart Corporation expects to incur indirect overhead costs of $84,750 per month and direct…

A: The pre-determined overhead rate is calculated as the estimated overhead costs divided by the…

Q: Need help

A: Step 1: Define Manufacturing Overhead:All the other expenses incurred by a company at the time of…

Q: The expected total overhead cost when 120,000 machine hours was used is:

A: There are majorly three types of costs: Fixed Cost: Fixed cost refers to a cost that doesn’t change…

Q: Total Costs 500000 Variable Cost Fixed Cost |Direct material cost Total labor cost | Manufacturing…

A: As per formula, Total production cost= (Variable cost per unit × number of units) + Fixed cost

Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

Topic Video

Question

Quan
If an 80% learning curve is applicable, Grosse Point's total cost on this
order would be estimated at
P26,400.
P32,000.
c.. P38,000.
a.
d.
P41,800. (CMA, Adapted)
b.
A particular manufacturing job is subject to an estimated 90% learning
59.
curve. The first unit required 50 labor hours to complete. What is the
cumulative average time per unit after four units are completed?
50.0 hours
45.0 hours
40.5 hours
с.
40.0 hours
d.
a.
b.
60. Grosse Point Manufacturing recently completed and sold an order of 50
units that had costs as follows:
Direct materials
Direct labor (1,000 hours x P8.50)
Variable overhead (1,000 hours x P4.00)*
Fixed overhead
P 1,500
8,500
4,000
1,400
P15,400
Applied on the basis of direct labor hours
Applied at the rate of 10% of variable cost
If Grosse Point had experienced a 70% learning curve, the bid for the
150 units would
show a 30% reduction in the total direct labor hours required with
no learning curve.
a.
b.
include increased fixed overhead costs.
be 10% lower than the total bid at an 80% learning curve.
include 6.40 direct labor hours per unit at P8.50 per hour.
с.
d.
(CMA, Adapted)
61. A widely used approach that managers use to recognize uncertainty
about individual items and to obtain an immediate financial estimate of
the consequences of possible prediction errors is
expected value analysis.
b. learning curve analysis.
sensitivity analysis.
d. regression analysis.
a.
с.
(CMA, Adapted)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

The manufacturing costs of Calico Industries for 3 months of the year are as follows: Total Cost Production (units) April $120,300 277,700 May 84,500 164,100 June 109,300 244,300 Using the high-low method, the variable cost per unit and the total fixed costs are Round your intermediate calculations to two decimal places. a.$3.20 per unit and $3,144, respectively b.$0.58 per unit and $15,718, respectively c.$5.76 per unit and $3,144, respectively d.$0.32 per unit and $31,436, respectively
iven a predetermined overhead rate of $1.60 per direct labor hour, a capacity of 50,000 hours and 42,000 actual hours, the cost of unused capacity is
Inspection time 0.4 days Wait time (from order to start of production) 16.8 days Process time 2.8 days Move time 1.1 days Queue time 4.3 days 1. Compute the throughput time. 2. Compute the manufacturing cycle efficiency (MCE) for the quarter. 3. What percentage of the throughput time was spent in non–value-added activities? 4. Compute the delivery cycle time. 5. If by using Lean Production all queue time during production is eliminated, what will be the new MCE?
A work element takes 20 hours of labor of a technician. Currently, the technician makes $22.50 per hour. For this project, the overhead charges are 72% of the direct labor charges and 10% personal time was assumed for this work element. What is the grand total cost to complete this work element? (the total be the sum of the direct labor, overhead, and personal time cost)?
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production April $102,926 1,860 Units May 105,960 2,600 June 110,798 3,780 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.$fill in the blank 1 per unit b. Using the high-low method, determine the total fixed costs.$fill in the blank 2
The manufacturing costs of Mocha Industries for three months of the year are as follows: April May June Total Cost $54,546 57,092 61,082 Production 1,670 Units 2,340 3,390 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places. $ per unit b. Using the high-low method, determine the total fixed costs. $
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production April $87,187 1,330 Units May 89,254 1,860 June 92,530 2,700 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.$fill in the blank 1 per unit b. Using the high-low method, determine the total fixed costs.$fill in the blank 2
please answer within 30 mins.