Activity Cost Pool Activity Measure Estimated Overhead Cost Machining Machine-hours %24 378,000 HR Supporting direct labour 24 Direct labor-hours 238,800 2$ Machine setups Number of setups 93,100 Number of product $ Product-sustaining lines 90,000 %24 Total 799,900 The expected activity for the year was distributed among the company's two product lines as follows: Activity Measure Machine-hours Product A Product B 7900 6100 Direct labor-hours 7900 4100 Number of setups 40 150 Number of product lines Required: 1. Based on the data of four cost pools and activity measures, compute the activity rate for each activity cost pool: a. What is the activity rate for the Machining activity cost pool? Round to nearest dollar Activity rate: $ per machine-hour b. What is the activity rate for the Supporting Direct Labour activity cost pool? Round to nearest dollar Activity rate: $ per direct labour-hour

Activity Cost Pool Activity Measure Estimated Overhead Cost Machining Machine-hours %24 378,000 HR Supporting direct labour 24 Direct labor-hours 238,800 2$ Machine setups Number of setups 93,100 Number of product $ Product-sustaining lines 90,000 %24 Total 799,900 The expected activity for the year was distributed among the company's two product lines as follows: Activity Measure Machine-hours Product A Product B 7900 6100 Direct labor-hours 7900 4100 Number of setups 40 150 Number of product lines Required: 1. Based on the data of four cost pools and activity measures, compute the activity rate for each activity cost pool: a. What is the activity rate for the Machining activity cost pool? Round to nearest dollar Activity rate: $ per machine-hour b. What is the activity rate for the Supporting Direct Labour activity cost pool? Round to nearest dollar Activity rate: $ per direct labour-hour

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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EXERCISE 1 LP Corporation uses an activity-based costing system with the following three activity cost pools: Total Activity Activity Cost Pool Fabrication 80,000 machine-hours 400 orders Order processing Other Not applicable The Other activity cost pool is used to accumulate costs of idle capacity and facility-sustaining costs. The company has provided the following data concerning its costs: Wages and salaries Depreciation P460,000 180,000 200,000 P840,000 Occupancy Total The distribution of resource consumptions across activity cost pools is given below: Activity Cost Pools Order Fabrication Other Total Processing Wages and salaries 5% 80% 15% 100% Depreciation 15% 40% 45% 100% Occupancy 15% 50% 35% 100% Required: 1. Determine the activity rate for the Fabrication activity cost pool. 2. Determine the activity rate for the Order Processing activity cost pool. ersity
ak ces Acme Incorporated incurs the following costs during July: $ 12,600 27,100 3,600 3,900 Raw material used 19,100 *80% of this amount relates to the factory. Sales expense Direct labor Factory supplies. Advertising Total manufacturing cost Administrative expense Required: Calculate Acme's total manufacturing costs for July, $ 67,780 Plant depreciation Indirect labor Utilities $ 22,600 7,300 9,100 11,100
Ocess The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials placed in process at the beginning of production. Work In Process-Assembly Department Bal., 2,000 units, 25% completed 5,100 To Finished Goods, 46,000 units Direct materials, 47,000 units @ $1.7 79,900 Direct labor 126,400 Factory overhead 49,165 Bal., 2 units, 65% completed Cost per equivalent units of $1.70 for Direct Materials and $3.70 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. 24 1. Cost of beginning work in process inventory completed this period %24 2. Cost of units transferred to finished goods during the period %24 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.)
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Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 62,900 pounds @ $8.20 per pound 26,500 hours @ $16.50 per hour 8,900 units $ 325,700 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH Actual Hours SH Standard Hours Standard Rate AR Actual Rate SR Actual Cost G < Prev 8 of 8 Next Standard Cost
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Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 22,360 $36,120 Manufacturing overhead applied 2,970 1,030 4,000 Job P Job Q $ 13,760 $ 12,900 1,380 1,500 2,880 Job Q Molding 4,300 $ 17,200 $ 1.40 Fabrication 2,580 $25,800 $ 43,000 6,880 $ 2.20 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. Total 11. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not…