Answered: company made 6,000 amplifiers last…

company made 6,000 amplifiers last month. 2.6% of them were defective, how many defective amplifiers were produced O 156 O 1,560 2,308 O 230,769 2

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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Guess Apparel completed 3, 600 expensive bags during the 1st quarter of the current year. The following costs per unit are presented below: Direct materials P200Direct Labor 180Factory overhead, included P10 allowance for spoilage 180Final inspection revealed that 600 bags were spoiled which were sold as export overrun at 40% of production costs. The good units were delivered and billed the customer at 120% above cost.If the spoilage is common to all jobs, the amount billed to the customer is:
Czinn Industries makes refrigerators with the following results in 2021: Units manufactured and sold 10,000 Selling price $2,000 Variable cost per unit $1,200 Hours spent on design 6,000 Testing and inspection hours per unit 0.5 Percentage of units reworked in plant 5% Rework costs per unit $500 Percentage of units repaired at customer site 4% Repair costs per unit $600 Estimated lost sales from poor quality (units) 300 The labor rate in Design is $75 per hour; the labor rate in Testing & Inspection is $40 per hour. MY QUESTION IS, HOW…
8. Salter Manufacturing Company produces inventory in a highly automated assembly plant in Fall River, Massachusetts. The automated system is in its first year of operation and management is still unsure of the best way to estimate the overhead costs of operations for budgetary purposes. For the first six months of operations, the following data were collected: Machine-hours Kilowatt-hours Total Overhead Costs January 4,560 5,424,000 $405,600 February 4,380 5,208,000 404,160 March 4,680 5,400,000 407,040 April 3,960 5,148,000 404,160 May 3,900 5,040,000 391,200 June 3,720 4,944,000 384,000 Required: a. Use the high-low method to determine the estimating cost function with machine-hours as the cost driver. b. Use the high-low method to determine the estimating cost function with kilowatt-hours as the cost driver. c. For July, the company ran the machines for 4,000 hours and used 4,550,000 kilowatt-hours of power. The overhead costs totaled $365,000. Which cost driver was the…
BRIAN POGI Co. manufactured the following units: Saleable 10,000 units Unsaleable Normal Loss 400 units Abnormal Loss 600 units Manufacturing costs totaled P198,000. How much is the period cost?
Catriona Company completed 300 units of customized jewelry. The product cost per unit: Direct materials P8,400 Direct labor 500 Factory overhead 750 P9,650 However, upon quality inspection, 20 units were found to be spoiled. The spoiled goods are sold for P138,400. The spoilage is due to customer's preferences. All good items and spoiled items are sold. How much is the product cost per unit?
Martin Company received an order for 25 automatic mixing machines. Because of the order's exacting specifications, it is anticipated that defective and spoiled work will exceed the normal rate. The materials cost per unit is P80; labor cost, P194; and manufacturing overhead for this order is to be applied at 100% of the labor cost. During production, 5 units were found to be defective and required the following total additional costs: materials, P97, labor, P125, and manufacturing overhead at the 100% rate. On final inspection, 2 units were classified as seconds and sold for P400 each, the proceeds being credited to the order. The purchaser has agreed to accept the 23 machines, although the acceptable units are fewer than the number ordered. What is the unit cost of the completed units? (Round-off to the nearest peso) IN A GOOD ACCOUNTING FORM WILL BE GREAT ALSO!
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Electron Tube Electronics made 70,000 TVs last month. If 6.5% of them were high definition, how many high definition TVs were produced? 455 O 4,550 45,500 O 455,000
ok t nces Direct materials: 6 microns per toy at $0.33 per micron Direct labor: 1.2 hours per toy at $7.20 per hour During July, the company produced 5,100 Maze toys. The toy's production data for the month are as follows: Direct materials: 74,000 microns were purchased at a cost of $0.31 per micron. 35,750 of these microns were still in inventory at the end of the month. Direct labor: 6,520 direct labor-hours were worked at a cost of $50,204. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity variances. b. The labor rate and efficiency variances. 1a Material price variance 1a. Material quantity variance 1b. Labor rate variance 1b. Labor efficiency variance
44. SHINING Apparel completed 3, 600 expensive bags during the 1st quarter of the current year. The following costs per unit are presented below: Direct materials P200Direct Labor 180Factory overhead, included P10 allowance for spoilage 180Final inspection revealed that 600 bags were spoiled which were sold as export overrun at 40% of production costs. The good units were delivered and billed the customer at 120% above cost.If the spoilage is common to all jobs, the amount billed to the customer is: a. • P1,680,000 b. • P2,100,000 c. • P2,016,000 d. • P3,696,000
2. At the beginning of the month, a supplier of a component used in our product notified us that, because of a minor design improvement, the price will be increased by 10% above the current standard price of $125 per unit. As a result of the improved design, we expect the number of defective components to decrease by 110 units per month. On average, 2,640 units of the component are purchased each month. Defective units are identified prior to use and are not returnable. Effect on materials price variance $ 0 Effect on materials quantity variance $ 0
34 Stillwater Designs rebuilds defective units of its S12L7 Kicker speaker model. During the year, Stillwater rebuilt 7,500 units. Materials and labor standards for performing the repairs are as follows: Direct materials (1 recon kit @ $150) $150 Direct materials (1 cabinet @ $80) 80 Direct labor (5 hrs. @ $12) 60 Required: 1. Suppose that during the first month of the year, 3,050 standard hours were allowed for the units rebuilt. How many units were rebuilt during the first month? Round your answer to the nearest whole unit.fill in the blank 4 units 2. Compute the standard hours allowed for a volume of 7,500 rebuilt units.fill in the blank 1 hours 3. Compute the standard number of kits and cabinets allowed for a volume of 7,500 rebuilt units. Standard number of kits: fill in the blank 2 kits Standard number of cabinets: fill in the blank 3 cabinets