Activity rates from Hilliard Corporation's activity-based costing system are listed below. The company uses the activity rates to assign overhead costs to products: Activity Cost Pools Processing customer orders Assembling products Setting up batches Activity Rate $101.98 per customer order $ 1.94 per assembly hour $ 60.17 per batch Last year, Product XL91 involved 2 customer orders, 434 assembly hours, and 20 batches. How much overhead cost would be assigned to Product XL91 using the activity-based costing system?

Activity rates from Hilliard Corporation's activity-based costing system are listed below. The company uses the activity rates to assign overhead costs to products: Activity Cost Pools Processing customer orders Assembling products Setting up batches Activity Rate $101.98 per customer order $ 1.94 per assembly hour $ 60.17 per batch Last year, Product XL91 involved 2 customer orders, 434 assembly hours, and 20 batches. How much overhead cost would be assigned to Product XL91 using the activity-based costing system?

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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Additional information: Work in Process beginning balance - $10,500 Finished Goods beginning balance - $5,600 Prepare the following journal entries (round to the nearest whole dollar): 70% of Finished Goods is transferred to Cost of Goods Sold.
Expected sales (in cases) Selling price per case Direct labor hours Machine hours Receiving orders Packing orders Material cost per case $49 Direct labor cost per case $10 The company uses a conventional costing system and assigns overhead costs to products using direct labor hours. Annual overh labor hours. Direct labor benefits Machine costs Receiving department Packing department * Total costs All depreciation Fixed $ Rose Violet Break-even cases of Rose Check My Work Break-even cases of Violet 48,000 9,600 $100 $80 36,900 5,950 10,350 3,350 → 231,000 Break-even cases of Rose - 49 96 28 48 $43 $8 $218,535 213,000* 252,815 102,000 $546,000 $471,350 Required: 1. Using the conventional approach, compute the number of cases of Rose and the number of cases of Violet that must be sold fo cost to the nearest cent and round the number of break-even packages to the nearest whole number. Variable X cases 2. Using an activity-based approach, compute the number of cases of each product that…
2. Compute the Casing and Curing Department’s cost per equivalent unit for mixing, materials, and conversion for the month of September
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Question 2 Joan Zorba orders calculators for her office supply stores. Each calculator cost $35, currently she is ordering 230. Daily demand for these calculators is 5. The cost to re-order this item is estimated at $44, while the annual inventory holding cost is 22%. Orders are received two working days after an order is placed. The office operates 52 weeks per year, 5 days per week Determine the reorder point using EOQ. Greater than or equal to 43 and less than or equal to 49 Greater than or equal to 431 and less than or equal to 443 Greater than or equal to 2053 and less than or equal to 2064 Greater than or equal to 6 and less than or equal to 25 4 pts < Previous Next VIV
Item 3 Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.32 per micron Direct labor: 1.3 hours per toy at $6.70 per hour During July, the company produced 5,400 Maze toys. The toy's production data for the month are as follows: Direct materials: 73,000 microns were purchased at a cost of $0.30 per micron. 32,500 of these microns were still in inventory at the end of the month. Direct labor: 7,420 direct labor-hours were worked at a cost of $52,682. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price…
Activity-Based Customer Costing Deeds Company sells custom-made machine parts to industrial equipment manufacturers by bidding cost plus 40 percent, where cost is defined as manufacturing cost plus order processing cost. There are two types of customers: those who place small, frequent orders and those who place larger, less frequent orders. Cost and sales information by customer category is provided below. Frequently OrderingCustomers Less FrequentlyOrdering Customers Sales orders 45,000 4,500 Order size 15 150 Average unit manufacturing cost $40 $40 Order-processing activity costs: Processing sales orders $2,878,500 Order-filling capacity is purchased in steps (order-processing clerks) of 1,000, each step costing $46,000; variable order-filling activity costs are $35 per order. The activity capacity is 55,000 orders; thus, the total order-filling cost is $4,262,500 [(55 steps × $46,000) + ($35…
8:07 Done A bartleby.com AA C = bartleby Q&A Business / Accounting / Q&A Library / You produce tw... You produce two products, Queen an... You produce two products, Queen and King. Queen King Sales price per unit $800 $1,200 Variable cost per unit 300 450 Stuffing hours required: 1 hour 2 hours You employ three workers who are trained to stuff these products. There are only 7,000 assembly hours available in the year. You believe that you can sell a maximum of 3,000 queen and 4,000 king. A. Which product should you emphasize? Support your answer with calculations. B. How many queen can you (should you) produce? Support your answer with calculations C. How many king can you (should you) produce? Support your answer with calculations Privacy - Terms
SEARCH ASK CHAT MATH SOLVER Question Diego Company manufactures one product that is sold for $77 per unit in two geographic regions—the East and West regions. The following information pertains to the company’s first year of operations in which it produced 59,000 units and sold 54,000 units. Variable costs per unit: Manufacturing: Direct materials $ 27 Direct labor $ 10 Variable manufacturing overhead $ 2 Variable selling and administrative $ 3 Fixed costs per year: Fixed manufacturing overhead $ 1,298,000 Fixed selling and administrative expense $ 662,000 The company sold 41,000 units in the East region and 13,000 units in the West region. It determined that $330,000 of its fixed selling and administrative expense is traceable to the West region, $280,000 is traceable to the East region, and the remaining $52,000 is a common fixed expense. The company will continue to incur the total amount of its fixed manufacturing…
Activity Cost Driver Chosen asAllocation Base Conversion Cost Per Unit ofAllocation Base Materials handling Number of parts $1.00 Machining Machine hours 60.00 Packaging Number of finished units 2.00 Each windsock requires three parts and spends five minutes in the machining department. The total cost of direct materials and direct labor is $3.50 per windsock. Gale produces 20,000 windsocks each year and sells them at 140% of cost. The total cost of producing the 20,000 windsocks is: Question 7 options: $160,000. $230,000. $270,000. $1,260,000.