ActivityCastingAssemblyInspectingSetupMaterials handlingActivity BaseMachine hoursDirect labor hoursNumber of inspectionsNumber of setupsNumber of loadsActivity CostCorporate records were obtained to estimate the amount ofactivity to be used by the two products. The estimated activity-base usage quantities and units produced follow:Units produced$286,230225,00045,73045,44038,270Entry Dining Total5,230 4,6409,8704,500 6,750 11,2502,0406502,6902606032070019010,400 5,200 15,600a. Determine the activity rate for each activity. If required,round the rate to the nearest dollar.ActivityActivity RateCastingAssemblyInspectingActivity BaseMachine hoursProductDirect labor hoursNumber of inspectionsNumber of setupsNumber of loads890per machine hourper direct labor hourper inspectionSetupper setupMaterials handlingper load5. Use the activity rates in (a) to determine the total and per-unitactivity costs associated with each product. Round the per unitmounts to the nearest cent.Total Activity Cost Act ทรwere obtained to estimate the amount ofby the two products. The estimated activity-ties and units produced follow:tActivity RateSAS45,44038,270SASNumber of setupsNumber of loadsEntry Dining5,230 4,6404,500 6,7502,040650260700Fixtures10,400 5,200 15,600ctivity rate for each activity. If required,the nearest dollar.60190Total9,87011,2502,690320890per machine hourtAper direct labor hourper inspectionper setupper loades in (a) to determine the total and per-united with each product. Round the per unitest cent.Total Activity CostActivity Cost Per UnitSAAA

Name: ActivityCastingAssemblyInspectingSetupMaterials handlingActivity Base
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: ActivityCastingAssemblyInspectingSetupMaterials handlingActivity BaseMachine hoursDirect labor hoursNumber of inspectionsNumber of setupsNumber of loadsActivity CostCorporate records were obtained to estimate the amount ofactivity to be used by the

Business

Accounting

Activity Casting Assembly Inspecting Activity Cost Activity Base Machine hours Direct labor hours Number of inspections Number of setups Number of loads $286,230 225,000 45,730 Setup 45,440 Materials handling 38,270 Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity- pase usage quantities and units produced follow:

Activity Casting Assembly Inspecting Activity Cost Activity Base Machine hours Direct labor hours Number of inspections Number of setups Number of loads $286,230 225,000 45,730 Setup 45,440 Materials handling 38,270 Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity- pase usage quantities and units produced follow:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Howard Corporation has two production departments. Curing has 12,000 units in process at the beginning of the period, 3 / 4 complete. During the period, 45,000 units were received from Crushing, 48,000 units were transferred to Finished Goods, and 9,000 units were in process at the end of the period, 2/ 3 complete. Cost information was as follows: Cost of beginning Work in Process: Cost in Crushing $ 21,640 Cost in Curing: Materials 8,810 Labor 1,190 Factory overhead 2,420 Costs during the month: Cost of goods received from Crushing $ 85,520 Cost in Curing: Materials 53,830 Labor 10,690 Factory overhead 17,560 Total costs to be accounted for $201,660 Question: Using the information above: Determine the unit cost for the month in Curing.b. Determine the total cost of the products transferred to…
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 6,000 units, 55% completed 15,000 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $1.4 197,400 Direct labor 207,100 Factory overhead 80,495 Bal., ? units, 25% completed ? Cost per equivalent units of $1.40 for Direct Materials and $2.10 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period $fill in the blank 1 2. Cost of units transferred to finished goods during the period $fill in the blank 2 3. Cost of ending work in process inventory $fill in the blank 3 4.…
Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6,000 units of product were as follows: Standard Costs Actual Costs Direct materials 7,800 lb. at $5.90 7,700 lb. at $5.80 Direct labor 1,500 hrs. at $16.10 1,530 hrs. at $16.40 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 1,560 direct labor hrs.: Variable cost, $3.00 $4,460 variable cost Fixed cost, $4.70 $7,332 fixed cost Each unit requires 0.25 hour of direct labor.
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Blackrock Steel Company are $45 and $12, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, beginning of period Started and completed during the period Transferred out of Rolling (completed) Inventory in process, end of period Total units to be assigned costs Equivalent Units Direct Materials Conversion 0 11,900 11,900 2,000 13,900 LA 640 LA 11,900 12,540 600 The beginning work in process inventory had a cost of $38,020. Determine the cost of completed and transferred-out production and the ending work in process inventory. Completed and transferred out of production Inventory in process, ending 13,140
The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 9,000 units, 70% completed Direct materials, 212,000 units @ $1.8 Direct labor Factory overhead Bal. ? units, 50% completed 28,800 381,600 314,000 122,170 a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. To Finished Goods, 207,000 units 1. Cost of beginning work in process inventory completed this period. 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. $ 0.0.0.0 $ ?
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…
GFIM Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. Department 2 has transferred-in costs of $390,000 for the current period. In addition, work in process at the beginning of the period for Department 2 totaled $75,000, and work in process at the end of the period (for Dept. 2) totaled $90,000. The journal entry to record the flow of costs into Department 3 during the period is: DEBIT WIP-Dept. 3 for 375,000 and CREDIT WIP-Dept. 2 for 375.000 ODEBIT WIP-Dept. 3 for 570,000 and CREDIT WIP-Dept. 2 for 570.000 ODEBIT WIP-Dept. 3 for 490,000 and CREDIT WIP-Dept. 2 for 490.000 DEBIT WIP-Dept. 3 for 555,000 and CREDIT…
Entries for Flow of Factory Costs for Process Costing Keoni Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $522,500, $182,900, and $120,200, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,300, and work in process at the end of the period totaled $36,100. a. Journalize the entries to record the flow of costs into the Refining Department during the period for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank. 1. 2. 3. b. Journalize the entry to record the transfer of production costs to the second department, Sifting. If an amount box does not require an entry, leave it blank.
Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $527,700, $184,700, and $121,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,600, and work in process at the end of the period totaled $36,400. a. Journalize the entries to record the flow of costs into the Refining Department during the period for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank. 1. Work in Process-Refining Department. ✓ 284,500 X Materials 2. Work in Process-Refining Department Wages Payable Feedback ✓ 3. Work in Process-Refining Department -✓ Factory Overhead-Refining Department Feedback ✓ - ✓ Feedback…
Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $605,000, $211,800, and $139,200, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $33,900, and work in process at the end of the period totaled $41,700. a. Journalize the entries to record the flow of costs into the Refining Department during the period for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank. 1. 2. 3. b. Journalize the entry to record the transfer of production costs to the second department, Sifting. If an amount box does not require an entry, leave it blank.
Ternes Manufacturing produces metal products primarily used in the construction industry. The three main inputs in production are materials (metal), labor, and overhead. Data for the previous three reporting periods follow: Materials cost Labor cost Overhead Value of product produced Period 3 $ 49,000 28,150 41,050 135,930 Period 3 Period 2 Period 1 Period 2 $ 63,500 37,820 46,600 177,504 Period 1 $ 58,750 34, 200 44,850 162, 604 Required: a. Compute the total factor productivity for the previous three reporting periods. Period Total Factor Productivity
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 7,000 units, 35% completed 15,225 To Finished Goods, 161,000 units Direct materials, 165,000 units @ $1.3 214,500 Direct labor 318,900 Factory overhead 124,035 Bal. ? units, 50% completed a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. $ 1. Cost of beginning work in process inventory completed this period. $ 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? c. Assuming that the direct materials…