Calculate the cost of production for the period. Alpine Industries had opening work-in-progress$5,000, manufacturing costs $130,000, andclosing work-in-progress $35,000. Calculate thecost of production for the period.

Explanation of Opening Work-in-Progress (WIP):Opening Work-in-Progress refers to the partially…

Answered: Alpine Industries had opening…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 4CDQ: How would each of the following costs be classified if units produced is the activity base? a....

See similar textbooks

Similar questions

A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
ANswer?
Help to solve this
The accounting records of Hilltop Ventures revealed the following selected costs: Sales commissions, $65,000; depreciation on factory equipment, $120,000; and administrative expenses, $175,000. What is Hilltop Ventures' period costs total?
Winston Company estimates that the factory overhead for the following year will be $967,500. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 38,700 hours. The total machine hours for the year were 54,600 hours. The actual factory overhead for the year was $1,357,000. a. Determine the total factory overhead amount applied. (Round to the nearest dollar.) $fill in the blank b. Calculate the over- or underapplied amount for the year. Enter the amount as a positive number. $fill in the blank c. Prepare the journal entry to close factory overhead into Cost of Goods Sold. fill in the blank fill in the blank
Tanner Corporation estimated that machine hours for the year would be 25,000 hours and overhead (all fixed) would be $100,000. Tanner applies its overhead on the basis of machine hours. During the year, all overhead costs were exactly as planned ($100,000). There was $15,000 in over-applied overhead. How many machine-hours were worked during the period?
At the end of the first year, the XYZ Team had incurred $550,000 of cost, with the total estimated cost of $1,050,000. Their total estimated revenue is $1,200,000. If the percentage of completion by labor hours expended is 60.8%, calculate the revenue to date for the labor hours expended method, using Alternative A.
Need help
??
ABC Corporation has the following estimated cost information for the upcoming year: a. Direct materials $100,000. b. Indirect Materials: $20,000. c. Direct labor: $150,000. d. Indirect labor: $70,000. e. Other MOH: $50,000. f. Sales commissions: $25,000. g. Advertising expense: $51,000. h. Rent on factory building: $35,000. i. Rent on office building: $40,000. The company estimated that 10,500 machine hours and 20,000 direct labor hours will be worked during the upcoming year. The company uses direct labor hours as the allocation base. What is the POHR rate for the company?

SEE MORE QUESTIONS

Recommended textbooks for you

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

SEE MORE TEXTBOOKS

Alpine Industries had opening work-in-progress $5,000, manufacturing costs $130,000, and closing work-in-progress $35,000. Calculate the cost of production for the period.