Ans Ashwin Woodcrafts produces handcrafted woodencabinets. A standard-size cabinet requires 13 board feetof hardwood in the finished product. In addition, 6.0board feet of scrap lumber is normally left from theproduction of one cabinet. Hardwood costs $16.50 perboard foot, plus $9.75 in transportation charges perboard foot.Required: Compute the standard direct-material cost ofa wooden cabinet.

To compute the standard direct-material cost of a wooden cabinet, we need to consider both the cost…

Answered: Ashwin Woodcrafts produces handcrafted…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 6PB: Box Springs. Inc., makes two sizes of box springs: queen and king. The direct material for the queen...

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Cayuga Hardwoods produces handcrafted jewelry boxes. A standard-size box requires 8 board feet of hardwood in the finished product. In addition, 2 board feet of scrap lumber are normally left from the production of one box. Hardwood costs $4.00 per board foot, plus $1.50 in transportation charges per board foot.Required: Compute the standard direct-material cost of a jewelry box.
Cayuga Hardwoods produces handcrafted jewelry boxes. A standard-size box requires 14 board feet of hardwood in the finished product. In addition, 8.0 board feet of scrap lumber are normally left from the production of one box. Hardwood costs $5.00 per board foot, plus $2.50 in transportation charges per board foot. Required: Compute the standard direct-material cost of a jewelry box. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Standard direct-material cost
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Frannie Fans currently manufactures ceiling fans that include remotes to operate them. The current cost to manufacture 10,320 remotes is as follows: Direct materials Direct labor Variable overhead Fixed overhead Total Cost $ 67,080 $ 56,760 $ 30,960 $ 51,600 $ 206,400 Frannie is approached by Lincoln Company, which offers to make the remotes for $18 per unit. Required: 1. Compute the difference in cost per unit between making and buying the remotes if none of the fixed costs can be avoided. What is the change in net income, if Frannie Fans buys the remotes? 2. Compute the difference in cost per unit between making and buying the remotes if $20,640 of the fixed costs can be avoided. What is the change in net income, if Frannie Fans buys the remotes? 3. What is the change in net income if fixed cost of $20,640 can be avoided and Frannie could rent out the factory space no longer in use for $20,640?
Frannie Fans currently manufactures ceiling fans that include remotes to operate them. The current cost to manufacture 10,340 remotes is as follows: Direct materials Direct labor Variable overhead Fixed overhead Total Cost $ 67,210 $ 56,870 $ 31,020 $ 51,700 $ 206,800 Frannie is approached by Lincoln Company, which offers to make the remotes for $18 per unit. Required: 1. Compute the difference in cost per unit between making and buying the remotes if none of the fixed costs can be avoided. What is the change in net income, if Frannie Fans buys the remotes? 2. Compute the difference in cost per unit between making and buying the remotes if $20,680 of the fixed costs can be avoided. What is the change in net income, if Frannie Fans buys the remotes? 3. What is the change in net income if fixed cost of $20,680 can be avoided and Frannie could rent out the factory space no longer in use for $20,680? Complete this question by entering your answers in the tabs below. Required 1 Required 2…
A manufacturer produces a product known as Symphony X. The company uses a standard costing system and provides you with the following information: Direct materials required to produce one unit of Symphony X: 9.5 KG Standard cost of direct materials: £50 /KG Normal wastage while producing two units of Symphony X: 2.5 KG per Unit Based on the above information, what is the standard direct materials cost per unit of Symphony X? Choose one from the following: A. £475.00 B. £350.00 C. £537.50 D. £575.50
Batco makes baseball bats. Each bat requires 2.00 pounds of wood at $22 per pound and 0.40 direct labor hour at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. Prepare a standard cost card for a baseball bat for BatCo. (Round your final answers to 2 decimal places.) O Answer is complete but not entirely correct. Standard Standard quantity or hours Standard Inputs cost per price or rate unit Direct materials 2.00 pounds 20.00 40.00 Direct labor 0.35 DLH 20.00 7.00 Overhead 0.35 DLH 40.00 14.00 Total 61.00 000 000
Rundle Electronics currently produces the shipping containers it uses to deliver the electronics products it sells. The monthly cost of producing 9,300 containers follows. Unit-level materials. Unit-level labor Unit-level overhead Product-level costs* Allocated facility-level costs One-third of these costs can be avoided by purchasing the containers. Russo Container Company has offered to sell comparable containers to Rundle for $2.60 each. Required a. Calculate the total relevant cost. Should Rundle continue to make the containers? b. Rundle could lease the space it currently uses in the manufacturing process. If leasing would produce $11,600 per month, calculate the total avoidable costs. Should Rundle continue to make the containers? Answer is complete but not entirely correct. $ a. Total relevant cost a. Should Rundle continue to make the containers? b. Total avoidable cost b. Should Rundle continue to make the containers? 190.650,000 Yes $24,180,000 $ 5,200 6,100 4,000 7,800…
Frannie Fans currently manufactures ceiling fans that include remotes to operate them. The current cost to manufacture 10,040 remotes is as follows: Cost Direct materials 65, 260 55, 220 $ Direct labor Variable overhead 30,120 $ Fixed overhead 50, 200 $ 200,800 Total Frannie is approached by Lincoln Company which offers to make the remotes for $18 per unit. Required: 1. Compute the difference in cost between making and buying the remotes if none of the fixed costs can be avoided. What is the change in net income? 2. Compute the difference in cost between making and buying the remotes if $20,080 of the fixed costs can be avoided. What is the change in net income? 3. What is the change in net income if fixed cost of $20,080 can be avoided and Frannie could rent out the factory space no longer in use for $20,080?

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