har.2 Barr Plastics makes parts for a variety of manufacturing applications Sales last year totaled $3,120,000 Information regardingresources for the month follows.IkcesAdministrativeCustomer serviceDepreciationEnergyLong-term laborMarketingMaterialsParts managementQuality inspectionsSetupsShort-term laborResources Used$ 172,400Resources Supplied$ 255,60036,40075,600206,400363,600172,400183,60087,400129,600240,400273,600512,400543,600104,400129,600155,400183,600240,400363,60070,40090,000In addition, Barr spent $96,000 on 60 engineering changes with a cost-driver rate of $1,460, and $132,000 on 10 outside contractswith a cost driver rate of $13,200.Required:The CFO at Barr has requested the followinga. A traditional income statement.b. An activity-based income statement.Complete this question by entering your answers in the tabs below.Required ARequired B

Activity-Based Income StatementItemAmount ($)Total Sales3,120,000Total Allocated…

Answered: Barr Plastics makes parts for a variety…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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A company manufacturing two products furnishers the following data for a year: Product Annual Total Total number Total Output (units) of purchase orders machine number of hours set ups A 750 1200 85 15 B 450 800 115 10 1200 2000 200 25 The annual overheads are as under: Volume related activity costs RO 55000 Set up related costs RO 120000 Purchase related costs RO 85000 Total RO 260000 You are required to calculate the cost per unit of each product A and B based on: a. Traditional method of charging overheads b. Activity based costing method
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Classifying Costs The following is a manufacturing cost report of Marching Ants Inc. Evaluate and correct this report. Marching Ants Inc.Manufacturing CostsFor the Quarter Ended June 30 Materials used in production (including $56,200 of indirect materials) $607,500 Direct labor (including $84,400 maintenance salaries) 562,500 Factory overhead: Supervisor salaries—plant 517,500 Heat, light, and power—plant 140,650 Sales salaries 348,750 Promotional expenses 315,000 Insurance and property taxes—plant 151,900 Insurance and property taxes—corporate offices 219,400 Depreciation—plant and equipment 123,750 Depreciation—corporate offices 90,000 Total $3,076,950 Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30
1. Allocating activity cost pools to products Burgandy Corporation makes plastic and wooden picture frames. The company has assigned $107,000 in monthly manufacturing overhead costs to two cost pools as follows: $67,000 to power costs, and $40,000 to production set-up costs. Additional monthly data are provided below: Sales revenue Direct materials.. Direct labor.... Machine hours.. Production runs Units produced and sold. Plastic Wooden Frames Frames $254,000 $179,000 $101,000 $38,360 $53,360 $92,720 107,420 7,580 35 29,000 65 59,000 Power costs are allocated to products using machine hours as an activity base. Set-up costs are allocated to products based on the number of production runs each product line requires. (a) Allocate manufacturing overhead from the activity cost pools to each product line. (b) Compare the total per-unit cost of manufacturing plastic frames and wooden frames. (c) On a per-unit basis, which product line appears to be most profitable?
Provide answer the general accounting
Cost flow relationships The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Sales $ 12,910,000 Gross profit 5,424,800 Indirect labor 427,700 Indirect materials 187,800 Other factory overhead 845,000 Materials purchased 4,303,300 Total manufacturing costs for the period 8,220,700 Materials inventory, end of period 302,500 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
PREPARE AN INCOME STATEMENT MARIE SWIFT Company reported the given information for the month of October: Inventories: Beginning Ending P36,000 Raw materials P29,000 Work in process P19,000 Finished goods P55,000 P21,000 P53,000 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost P64,000 Selling expense Administrative expense Net Sales units produced P75,000 P45,000 P16,000 P44,000 P500,000 20,000 Determine the values of the following: a. operating profit b. manufacturing cost c. cost of goods manufactured d. period cost e. operating expense f. cost of goods sold g. cost of product that is transferred to finished goods h. raw materials used i. gross profit j. total inventory cost reflected in the statement of financial position k. raw materials available for use I. manufacturing cost per unit m. conversion cost n. cost of goods placed in process o. prime cost
General Accounting
Tristion Inc. has two production departments, and estimated the following information for the 2022 fiscal year Assembly Dept. Testing Dept. Overhead $1,496,250 $365,625 Direct labour hours 356,250 81,250 Machine hours 80,000 162,500 Currently, the company uses departmental rates to assign overhead costs. Overhead costs are assigned on the basis of direct labour hours for the Assembly Department and machine hours for the Testing Department. For September, the company reported the following actual data: Assembly Dept. Testing Dept. Overhead $107,560 $34,340 Direct labour hours 28,600 6,770 Machine hours 5,700 13,520 Required (A) What are the predetermined overhead rates for each department? (B) Assume that Job R777 used 4 direct labour hours in the Assembly Department and 3 machine hours in the Testing Department. Compute the overhead assigned to Job R777. (C) How much overhead was applied in the month of September? (D)…
< During the first month of operations ended July 31, YoSan Inc. manufactured 9,800 flat panel televisions, of which 9,100 were sold. Operating data for the month are summarized as follows: Sales Manufacturing costs: Direct materials Direct labor Variable manufacturing cost $1,638,000 $833,000 245,000 215,600 Fixed manufacturing cost 107,800 1,401,400 Selling and administrative expenses: Variable $127,400 Fixed 58,600 186,000 Required: 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Line Item Description Sales Cost of goods sold: Amount Amount 1,638,000 Cost of goods manufactured 1,401,400 Inventory, July 31 Total cost of goods sold Gross profit Previous Next
Calculate and Use Ovrehead Rate During the coming accounting year, Baker Manufacturing, Inc. anticipates the following costs, expenses, and operating data: Direct material (16,000 lb) $80,000 Direct labor (@10/hr) 200,000 Indirect materials 12,000 Indirect labor 22,000 Sales Commissions 34,000 Factory administration 16,000 Nonfactory administrative expenses 20,000 Other manufacturing overhead 80,000 a. Calculate the predetermined manufacturing overhead rate for the coming year for each of the following application bases: (1) direct labor hours, (2) direct labor costs, and (3) machine hours. b. For each item in requirement in requirement a, determine the proper application of manufacuring overhead to Job 63, to which 16 direct labor hours, $150 of direct labor cost, and 40 machine…
Subject: acounting

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