Classification of Cost of quality and determine the total amount on each category appropriately: (I) Expediting=3,27,000 (II) Recalls=3,42,000 (III) Line Inspection=2,12,500 (IV) Litigation costs=2,90,500
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Classification of Cost of quality and determine the total amount on each category appropriately:
(I) Expediting=3,27,000
(II) Recalls=3,42,000
(III) Line Inspection=2,12,500
(IV) Litigation costs=2,90,500
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- Renata Company has four departments: Materials, Personnel, Manufacturing, and Packaging. Information follows. Department Employees Square Feet 66,500 Asset Values Materials 58 $ 10,350 Personnel 8 Manufacturing Packaging 9,500 95,000 19,000 4,140 38,640 70 64 15,870 Total 200 190, 000 $ 69,000 The four departments share the following indirect expenses for supervision, utilities, and insurance according to their allocation bases. Indirect Expense Cost Allocation Base Supervision $ 82,000 Number of employees 59,000 Square feet occupied 27,000 Asset values Utilities Insurance Total $ 168,000 Allocate each of the three indirect expenses to the four departments.For each of the following expenses, select the best allocation basis. A. Value of insured assets. B. Square feet of space occupied. C. Proportion of total purchase orders for each operating department. D. Number of employees in department. Maintenance department expenses of the operating departments. Payroll department expenses of all departments. Purchasing department expenses for the operating departments. Insurance expenses of all departments.Woh Che Co. has four departments: Materials, Personnel, Manufacturing, and Packaging. In a recent month, the four departments incurred three shared indirect expenses. The amounts of these indirect expenses and the bases used to allocate them follow. Indirect Expense Supervision Utilities Cost Allocation Base $ 82,600 Number of employees 51,000 Square feet occupied 23,000 Value of assets in use Insurance Total $156,600 Departmental data for the company's recent reporting period follow. ETII Employees Square Feet 22,000 11,000 55,000 22,000 Department Materials Asset Values $ 6,100 1,830 36,600 16,470 24 Personnel Manufacturing Packaging 48 42 Total 120 110,000 $61,000 1. Use this information to allocate each of the three indirect expenses across the four departments. 2. Prepare a summary table that reports the indirect expenses assigned to each of the four departments. Complete this question by entering your answers in the tabs below.
- Which of the following would probably properly classified as a step cost with respect to the volume of production ? Depreciation computed on an annual basis Total salaries paid to quality -control inspectors Real estate taxes President of the company's salaryHi-Tek Manufacturing, Incorporated, makes two industrial component parts-B300 and T500. An absorption costing income statement for the most recent period is shown below: Hi-Tek Manufacturing, Incorporated Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss Hi-Tek produced and sold 60,400 units of B300 at a price of $21 per unit and 12,800 units of T500 at a price of $39 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: Direct materials Direct labor Manufacturing overhead Cost of goods sold $ 1,767,600 1,212,922 554,678 610,000 $ (55,322) 8300 T500 $ 400,300 $ 162,400 $ 120,100. $ 42,400 Activity Cost Pool (and Activity Measure) Machining (machine-hours) Setups (setup hours) Product-sustaining (number of products) Other…Identify the following as elements of first cost or annual operating cost: (a) direct materials, (b) delivery charges, (c) periodic repairs, (d) rework andrebuild, (e) installation cost, (f ) equipment cost.
- Lamont Company produced 80,000 machine parts for diesel engines. There were no beginning or ending work-in-process inventories in any department. Lamont incurred the following costs for May: Direct materials Direct labor Applied overhead Molding Department $12,000 10,000 17,000 Grinding Department $5,300 8,800 14,000 Finishing Department $8,000 12,000 12,000Richport Company manufactures products that often require specification changes or modifications to meet customer needs. Consequently, Richport employs a job costing system for its operations. Although the specification changes and modifications are commonplace, Richport has been able to establish a normal spoilage rate of 2.5% of total units produced (before spoilage is identified). The company recognizes normal spoilage during the budgeting process and classifies it as a component of factory overhead. Thus, the predetermined overhead rate used to apply factory overhead costs to jobs includes an allowance for net spoilage cost for normal spoilage. If spoilage on a job exceeds the normal rate, it is considered abnormal and must be analyzed. The cause of the spoilage must then be submitted to management. Randa Duncan, one of Richport's inspection managers, has been reviewing the output of Job N1192-122 that was recently completed. A total of 128,850 units had been started for the job,…Itranscript A company executive assigned importance values between 0 and 100 to five attributes included in an alternative evaluation process. Determine the weight of each attribute using the importance scores. Importance Score, si Attribute, i Safety Cost Production rate Environmental Maintainability The weight of safety is The weight of cost is The weight of production rate is The weight of environmental is The weight of maintainability is 58 50 88 28 44