Chapter 6 Assignment - ACCT-2X* CengageNOWv2 | Online teachir x+genow.com/ilrmn/takeAssignment/takeAs gnmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=falseеВookLample re makes brass and gold frames. The company computed this information to decide whether to switch from the traditional allocation method to ABC:Brass Gpldunits Planed700150Material Moves30075Machine Setups300450Direct Labor Hours700 1,300The estimated overhead for the material cost pool is estimated as $8,250, and the estimate for the machine setup pool is $24,000.A. Calculate the allocation rate per unit of brass and per unit of gold using the traditional method? Round intermediate calculations and final answers to two decimal places.Allocation Rateper UnitBrassGoldB. Calculate the allocation rate per unit of brass and per unit of gold using the activity-based costing method? Round intermediate calculations and final answers to twodecimal places.Allocation Rateper UnitBrassGold

Calculation of allocation rate per unit in both case are as follows.

Answered: Chapter 6 Assignment - ACCT-2 X…

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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in Course ACCT 3121.2711,ACC apters 9-10 i lucation.com extemap-ir de sim2_com-consexternal browser=0&launchUrl=https": Sales revenue Direct materials Direct labor Overhead costs Administration Production setup Quality control Distribution Operating profit Activity Base Setting up * X Performing quality control Distribution 3 EZ-Seat, Inc., manufactures two types of reclining chairs, Standard and Ergo. Ergo provides support for the body through a complex set of sensors and requires great care in manufacturing to avoid damage to the material and frame. Standard is a conventional recliner, uses standard materials, and is simpler to manufacture. EZ-Seat's results for the last fiscal year are shown in the following statement. Ergo $2,000,000 600,000 400, 000 GwMcGraw Hill Education Campus X EZ-SEAT, INC. Income Statement $ d Standard $5,000,000 1,500,000 500,000 EZ-Seat currently uses labor costs to allocate all overhead, but management is considering implementing an activity-based costing…
X 8 FILE Paste Clipboard C16 4 1. Assign indirect costs to products or services using activity based costing. & 14 HOME Calibri A Activity Cost Pool 5 Material Handling ▶ L= BIU INSERT ⠀ READY Attomatle) 3/2 6 Machine Set-Ups 7 Engineering Support 8 Power and Space 9 Total overhead cost $ 10 15 Activity Cost Pool 16 Material Handling 17 Machine Set-Ups 18 Engineering Support 19 Power and Space 20 Total Overhead Cost 21 22 DO Font Sheet1 11 PAGE LAYOUT B A A A. Overhead Cost $ 300,000 $ 210,000 fxx 710,000 + E Economy FORMULAS C Assigning indirect costs to products or services using activity based costing - Excel DATA REVIEW VIEW Wrap Text *Merge & Center - Alignment Deluxe D Overhead Assigned Using Activity Rates Activity Cost Driver 5,000 Material moves Set-ups Engineering hours $ 20,000 square feet. 11 Use formulas to assign overhead to each product using both activity rates and activity proportions (%). 12 Create if/then statements to verify that the two methods produce the same…
d fleet01-xythos.content.blackboardcdn.com/blackboard.learn.xythos.prod/57a090368aef4/748202?X-Blackboard-Expin ision%20Making%20Assignmont decy Edits will not be automatically saved. Unsaved changes MOLI anes Calibri 三 = Problem 4 Jones Paper Company produces many colors of paper. The current popular color is grey. To increase the production of grey paper, a decision must be made to determine what color must be dropped. The following information is available to make the decision Peach Sales Variable cost 00000 00 00 00000 Allocated common fixed cost 0000 I What is the total income if all colors were produced? If Peach was dropped, what would be the effect bn Net Income? How much did Peach paper contribute to Fixed Costs? Determine the cost and the amount that will remain even if Peach is dropped. Which costs and amount will be eliminated if Peach is dropped?
CengageNOWv2 | Online teachin x 2 MindTap - Cengage Learning * + https://v2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession L... A Classwork eBook Cost of Materials Issuances Bravo Wire Enterprises is a manufacturer of electrical conductors. The following incomplete subsidiary ledger is for wire cable during July: a. Complete the materials issuances and balances for the wire cable subsidiary ledger. Assume a first-in, first-out cost flow. Received Receiving Report Number Received Quantity Received Unit Price Issued Materials Requisition Number Issued Quantity Issued Balance Amount Date Balance Quantity Balance Amount Balance Unit Price 309 200 $7.00 July 1 July 5 125 $750 $ 6.00 125 V 750 V 6.00 7401 240 July 10 422 400 $8.00 July 201 7639 325 July 26 b. Determine the balance of wire cable at the end of July, 1,280 c. Determine the total amount of materials transferred to Work in Process for July. 4.070 Check My Work Q Search 8 144 0 P…
000 X M Question 4-Comprehensive Pr x + ducation.com/ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252Fmh Problem 5 Saved Required information [The following information applies to the questions displayed below.] Jasper Company, a machine tooling firm, has several plants. One plant, located in Saint Cloud, Minnesota, uses a job order costing system for its batch production processes. The Saint Cloud plant has two departments through which most jobs pass. Plantwide overhead, which includes the plant manager's salary, accounting personnel, cafeteria, and human resources, is budgeted at $250,000. During the past year, actual plantwide overhead was $242,000. Each department's the Saint Cloud plant for the past year are as follows: overhead consists primarily of depreciation and other machine-related expenses. Selected budgeted and actual data from Budgeted department overhead (excludes plantwide overhead) Actual…
O x ezt.prod.mheducation.com/Me × ezt.prod.mheducation.com/Me x ezt.prod.mheducation.com/Me + io.com/secured #lockdown d: Exam 5 i Saved NEXIGO Help ☆ Save & Exit ssume a company is considering using available space to make 10,000 units of a component part that it has been buying from a supplier for a price of $40.75 per mit. The company's accounting system estimates the following costs of making the part: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead, traceable Fixed manufacturing overhead, allocated Total cost Per 10,000 Units Unit per Year $ 17 $ 170,000 12 120,000 2 20,000 8 80,000 4 40,000 $ 45 $ 430,000 D One-half of the traceable fixed manufacturing overhead relates to a supervisor that would have to be hired to oversee production of the part. The remainder of the raceable fixed manufacturing overhead relates to depreciation of equipment that the company already owns. This equipment has 20,000 units of unused capacity. mo resale…
eNOWv2 | Online teach akeAssignment/takeAssignm IMain.do?invoker 8takeAssignmentSessionLocator-8inprogress-false en genera... 21. Homepage South... CengageNOWv2 |. MindEdge Other bookmarks E eBook Show Me How Equivalent Units of Production The Converting Department of Worley Company had 720 units in work in process at the beginning of the period, which were 40% complete. During the period, 15,200 units were completed and transferred to the Packing Department. There were 800 units in process at the end of the period, which were 70% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0" Worley Company Number of Equivalent Units of Production Direct Materials Equivalent Units Equivalent Units Whole Units Conversion Inventory in process, beginning 720 432. Started and completed x Transferred to Packing Department…
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-My Home * CengageNOwv2 | Online teach x b Kingsford Furnishings Compan x n/ilrn/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inprogress-false Maps еВook Show Me How Print Item Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from the materials ledger are as follows: Fabric $26,200 Polyester filling 7,900 Lumber 58,700 Glue 2,500 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $130,200 Polyester filling 181,000 Lumber 356,700 Glue 12,400 Materials were requisitioned to individual jobs as follows: Polyester Fabric Lumber Glue Total Filling Job 601 $49,500 $62,400 $166,800 $278,700 Job 602 38,100 67,800 146,000 251,900 Job 603 35,100 46,000 81,200 162,300 Factory overhead-indirect materials $6,400 6,400 Total $122,700 $176,200 $394,000 $6,400 $699,300 The glue is not a significant cost, so…
r田 1/1 gageNOWv2 | Online teachirs X om/ilrn/takeAssignment/takeAssignmentMan.uo?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook What are the total costs to account for if a company's beginning inventory had $231,430 in materials, $186,360 in conversion costs, and added direct material costs ($4,231,378), direct labor ($2,313,394), and manufacturing overhead ($1,156,704)? Total costs $
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