provide answer for this account prob Dart Inc. began operations on January 1, 2019. Dart sells asingle product for $10 per unit. During 2019, 50,000 unitswere produced, and 40,000 units were sold.Costs for 2019 were:Direct materialsDirect laborManufacturing overheadSelling and administrativeFixedPortionVariable Portion$0 $2.00 per unit$0 $1.50 per unit$50,000 $0.75 per unit$ 80,000 $0.25 per unit soldUnder variable costing, the total period costs are:a. $50,000.b. $140,000.c. $90,000.d. $130,000.

To calculate the total period costs under variable costing, we need to sum up both fixed costs…

Answered: Dart Inc. began operations on January…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EB: A company estimates its manufacturing overhead will be $840,000 for the next year. What is the...

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Self-Construction Olson Machine Company manufactures small and large milling machines. Selling prices of these machines range from 35,000 to 200,000. During the 5-month period from August 1, 2019, through December 31, 2019, Olson manufactured a milling machine for its own use. This machine was built as part of the regular production activities. The project required a large amount of time front planning and supervisory personnel, as well as that of some of the companys officers, because it was a more sophisticated type of machine than the regular production models. Throughout the 5-month period, Olson charged all costs directly associated with the construction of the machine to a special account entitled Asset Construction Account. An analysis of the charges to this account as of December 31, 2019, follows: Olson allocates factory overhead to normal production as a percent of direct labor dollars as follows: Olson uses a flat rate of 40% of direct labor dollars to allocate general and administrative overhead. During the machine testing period, a cutter head malfunctioned and did extensive damage to the machine table and one cutter housing. This damage was not anticipated and was the result of an error in the assembly operation. Although no additional raw materials were needed to make the machine operational after the accident, the following labor for rework was required: Olson has included all these labor charges in the asset construction account. In addition, it included in the account the repairs and maintenance charges of 1,340 that it incurred as a result of the malfunction. Required: 1. Compute, consistent with GAAP and common practice, the amount that Olson should capitalize for the milling machine as of December 31, 2019, when it declares the machine operational. 2. Next Level Identify the costs you included in Requirement 1 for which there are acceptable alternative procedures. Describe the alternative procedure(s) in each case.
Managerial Accounting
Sunset Inc. Plastics Company uses process costing and provided the following information for 2020: Units Percent Complete Percent Complete Direct Materials Conversion Costs Work-in-process at January 1 18,000 30% 70% Units started during the year 190,000 Work-in-process at December 31 30,000 80% 30% The cost of the beginning work-in-process included $103,750 for direct materials used and $54,380 for direct labor. Production costs during year were $603,250 for direct materials and $110,180 for direct labor. The company applies manufacturing overhead using direct labor costs. The manufacturing overhead rate for all years is 50% of direct labor. The cost transferred to finished goods inventory is: Multiple Choice $ 775,260 $ 862,600 $ 1,089,000 $ 857,960 Please don't provide answer in image format thank you
How do I determine the cost of one unit of SW 100 and SG 150, assuming department overhead rates are used. Overhead is assigned based on machine hours in both departments. Round t two decimal places, if necessary.
How do I determine the cost of one unit each of SW100 and SG150, assuming a company wide overhead rate is used based on total machine hours? Round rate to two decimal places.
Hill Manufacturing uses departmental cost driver rates to apply manufacturing overhead costs to products. Manufacturing overhead costs are applied on the basis of machine hours in the Machining Department and on the basis of direct labor hours in the Assembly Department. At the beginning of 2020, the following estimates were provided for the coming year: Direct labor hours Machine hours Direct labor cost Manufacturing overhead costs Machining Direct labor hours Machine hours Direct material cost Direct labor cost 10,000 DLH 100,000 MH $80,000 $250,000 The accounting records of the company show the following data for Job # 846: Machining 50 DLH 170 MH Assembly 90,000 DLH 5,000 MH $2,700 $400 $720,000 $360,000 Assembly 120 DLH 10 MH $1,600 $900 4 Required: 1. Compute the manufacturing overhead allocation rate for each department. 2. Compute the total cost of Job #846. 3. Provide possible reasons why Hill Manufacturing uses two different cost allocation rates.
Summer Company makes a single product in two departments. The production data for Department B for 2019 follows: ow 000,0 T80 000,0S hl ensiT 000.09 MC Units In process, August 1 (40% completed) Received from Department 1 Completed and transferred O In process, August 31 (60% completed) 4,000 units gnil 30,000 units 25,000 units 6,000 units 2bo00 berlaini Costs 20te000,281 Received from Dept. 1 In process, May 1MDto Added during May a Mop 14,400 P 97,200 nst 67,500 81,000 C00.00 MO 3,800 1,940 000.0 hiba Materials Conversion costs Materials are added at the start of the process and losses normally occur during the early stages of the operation. gagnt oni moil sua berstesit eboo to Jecs 000.E 000.00d 32. Cost of goods manufactured using FIFO method a. Р 195,250 b. Р 193,040 000 EFS с. Р 211,040 d. P 218,440 000,0 000,20 9d 33. Cost of the ending work in process inventory using average costing 000,1T а. Р44,640 b. P 45,840 с. Р 46,362 d. P 46,800
Can somebody help me with this? The polishing department of Taylor Manufacturing Company operated during April 2019 with the following manufacturing overhead cost budget based on 4,000 hours of monthly productive capacity: TAYLOR MANUFACTURING COMPANYPolishing DepartmentOverhead Budget (4,000 hours)for the month of April 2019 Variable costs: Factory supplies $100,000 Indirect labor 152,000 Utilities (usage charge) 68,000 Patent royalties on secret process 296,000 Total variable overhead $616,000 Fixed costs: Supervisory salaries $160,000 Depreciation on factory equipment 144,000 Factory taxes 48,000 Factory insurance 32,000 Utilities (base charge) 80,000 Total fixed overhead $464,000 Total manufacturing overhead $1,080,000 The polishing department was operated for 4,600 hours during April and incurred the following manufacturing overhead costs: Factory…
Calculate activity rate for general factory overhead using direct labor hours. How much of the $2,496,500 manufacturing overhead would be allocated to the Delta product? How much would be allocated to the sigma product?
Oriole Company provided the following information from its accounting records for 2019. Expected production 100000 labor hours Actual production 96000 labor hours Budgeted overhead $900000 Actual overhead $860000 How much is the overhead application rate if Oriole Company bases the rate on direct labor hours? $9.00 per hour $9.38 per hour $8.96 per hour $8.60 per hour
Oriole Company provided the following information from its accounting records for 2019: Expected production 100000 labor hours Actual production 96000 labor hours Budgeted overhead $2100000 Actual overhead $1840000 How much is the overhead application rate if Oriole Company bases it on direct labor hours? $21.00 per hour $19.17 per hour $21.88 per hour $18.40 per hour
Using the information below, prepare a Cost of Production Report for CD Corporation's Packaging Department for May 2019 On May 1, 2019 the following were reported: Inventory In-Process-Packaging (5,500 units, 20% complete) Finished Goods (700 units at $7.25 a unit) 17,500 5,075 The following were charged to Work in Process- Packaging during May: Direct Materials transferred from Mixing 14,000 units @ $6.25 a unit. 87,500 Direct Labor 12,000 Factory Overhead 4,800 During May -15,500 units were transferred to finished goods and 13,700 units were sold. On May 30 Inventory was as follows Inventory in Process - Packaging: 4,000 units (40% complete) Finished Goods - 2,500 units

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