Direct materials Direct labor Overhead Barlon At the split-off point, a batch yields 2,119 barlon, 2,991 selene, 2,991 plicene, and 4,363 corsol. All products are sold at the split-off point: barlon sells for $15 per unit, selene sells for $18 per unit, plicene sells for $25 per unit, and corsol sells for $34 per unit. Selene Required: 1. Allocate the joint costs using the physical units method. If required, round your percentage allocation to four decimal places and round allocated costs to the nearest dollar. Note: The total of the allocated cost does no equal to the one provided in the question data due to rounding error. Plicene Corsol Total Barlon Selene Plicene 2. Suppose that the products are weighted as shown below: Corsol Barlon 1.3 Selene $61,935 1.9 34,085 1.2 26,590 2.4 Allocated Joint Cost Allocate the joint costs using the weighted average method. If required, round your percentage allocation to four decimal places and round allocated costs to the nearest dollar. Allocated Joint Cost

Direct materials Direct labor Overhead Barlon At the split-off point, a batch yields 2,119 barlon, 2,991 selene, 2,991 plicene, and 4,363 corsol. All products are sold at the split-off point: barlon sells for $15 per unit, selene sells for $18 per unit, plicene sells for $25 per unit, and corsol sells for $34 per unit. Selene Required: 1. Allocate the joint costs using the physical units method. If required, round your percentage allocation to four decimal places and round allocated costs to the nearest dollar. Note: The total of the allocated cost does no equal to the one provided in the question data due to rounding error. Plicene Corsol Total Barlon Selene Plicene 2. Suppose that the products are weighted as shown below: Corsol Barlon 1.3 Selene $61,935 1.9 34,085 1.2 26,590 2.4 Allocated Joint Cost Allocate the joint costs using the weighted average method. If required, round your percentage allocation to four decimal places and round allocated costs to the nearest dollar. Allocated Joint Cost

Name: Direct materialsDirect laborOverheadBarlon.At the split-off point, a
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Description: Direct materialsDirect laborOverheadBarlon.At the split-off point, a batch yields 2,119 barlon, 2,991 selene, 2,991 plicene, and 4,363 corsol. All products are sold atthe split-off point: barlon sells for $15 per unit, selene sells for $18 per unit,

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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Round to two decimal places please
Levels of costs Baldacci Inc. has a casting machine that is used for three of the company’s products. Each machine setup costs $40,890, and the machine was set up in June for six different production runs. The following information shows the units of output from each of the setups. Setup # Product #453 Product #529 Product #663 1 45,600 2 1,680 3 30,400 4 27,900 5 60 6 35,600 a. If total machine setup cost is allocated to all units of product,1. What is the setup cost per unit?Note: Round unit cost to two decimal places (i.e. round $4.355 to $4.36).$Answer 2. Indicate the total setup costs for each of the company's three products in the following table, using the rounded unit cost from part (1).Note: Round your final answer to the nearest whole dollar. Product #453 Answer Product #529 Answer Product #663 Answer Total Answer b. If machine setup cost is allocated to each type of product made, 1. Indicate the…
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Single plantwide factory overhead rate Bach Instruments Inc. makes three musical instruments: flutes, clarinets, and oboes. The budgeted factory overhead cost is $107,520. Overhead is allocated to the three products on the basis of direct labor hours. The products have the following budgeted production volume and direct labor hours per unit: Flutes Clarinets Oboes Flutes Clarinets Oboes Budgeted Production Direct Labor Hours Per Unit Total Volume 1,400 If required, round all per unit answers to the nearest cent. a. Determine the single plantwide overhead rate. per direct labor hour b. Use the overhead rate in (a) to determine the amount of total and per-unit overhead allocated to each of the three products. 2,500 units 500 0.8 1.6 1.2 Total Per Unit Factory Overhead Cost Factory Overhead Cost
A company produces the following three products in a single manufacturing plant. Product One Two Three Selling price per unit Direct materials $94.50 $79.60 $112.60 $41.20 $44.40 $ 67.7e $29.70 $14.20 $ 16.7e $ 5.70 $ 4.80 $ 7.8e $ 7.20 $ 3.40 $ Direct labor Variable manufacturing overhead Variable selling cost per unit Mixing minutes per unit Monthly demand in units 4.80 12.80 2.50 2.50 3,000 1,000 2,000 The mixing machines are potentially the constraint in the production facility. A total of 14,000 minutes are available per month on these machines. Direct labor is a variable cost in this company. Required: a. How many minutes of mixing machine time would be required to satisfy demand for all three products? b. How much of each product should be produced to maximize net operating income? c. If the company has made the best use of the existing mixing machine capacity, what is the maximum amount they should be willing to pay for one additional hour of mixing machine time? Complete this…
< Prev A company uses the following standard costs to produce a single unit of output. Direct materials Direct Manufacturing pounds at $0.70 per pound- 0.4 hour at $8.00 per hour labor $ 5.60 $ 3.20 $ 1.96 overhead 53 0.4 hour at $4.90 per hour - During the latest month, the company purchased and used 77,000 pounds of direct materials ata price of $0.90 per pound to produce 10,000 units of output Direct le month totaled $29,100 based on 3,880 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15 600 and fixed manufacturing overhee $10,000. Based on this information, the direct materials price variace for the month was: Multiple Choice $2,000 favorable $15,400 unfavorable $5,600 unfavorable $6,400 unfavorable Ne $5,600 favorable 23 of 25
Table 2Activity Cost Pool Total Cost Total ActivityAssembly $ 1,114,920 57,000 machine-hoursProcessing orders $ 47,016 1,800 ordersInspection $ 107,328 1,560 inspection-hours Use Table 2 to answer this question. XYZ Corporation has provided the following data from its activity-based costing system (Table 2). The company makes 430 units of product ABA a year, requiring a total of 1,120 machine-hours, 35 orders, and 40 inspection-hours per year. The product's direct materials cost is $49.81 per unit and its direct labor cost is $12.34 per unit. The product sells for $130 per unit. According to the activity-based costing system, the product margin for product ABA is: Select one: a. $4,290.10. b. $3,815.50. c. none of the given answer. d. $4,159.50. e. $3,602.10.
Sales-Value-at-Split-off Method Alomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are as follows: Direct materials $67,900 Direct labor 34,000 Overhead 25,500 At the split-off point, a batch yields 1,400 barlon, 2,600 selene, 2,500 plicene, and 3,500 corsol. All products are sold at the split-off point: barlon sells for $15 per unit, selene sells for $20 per unit, plicene sells for $26 per unit, and corsol sells for $35 per unit. Required: Allocate the joint costs using the sales-value-at-split-off method. If required, round allocation rates to four decimal places and round the final allocations to the nearest dollar. Allocated Joint Cost Barlon $ Selene Plicene Corsol Total $ (Note: The total of the allocated cost does not equal actual total costs to rounding.)
Problem A. Wyoming Company manufactures radios in two different styles: Radio Model Annual Sales in Units Starry 10,000 Polka 16,000 Wyoming uses a traditional volume-based costing system in applying factory overhead using direct labor pesos. The unit prime costs of each product were as follows: Starry Polka Direct Materials P38.00 P25.40 Direct labor: 1.2 x P14.60 17.52 0.9 x P14.60 13.14 The predetermined overhead rate was P350% (P1,349,040 ÷ 385,440) Direct labor budget per annual sales: Starry radio 10,000 x P17.52 P175,200 Polka radio 16,000 x P13.14 210,240 Total P385,440 Factory overhead:…
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Standard Cost Journal Entries Bellingham Company produced 5,300 units that require five standard pounds per unit at a $9 standard price per pound. The company actually used 26,000 pounds in production. Journalize the entry to record the standard direct materials used in production. If an amount box does not require an entry, leave it blank. 000
ssment Tool iFrame A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $15 per DLH 3 DLH @ $12 per DLH Actual Results 59,200 pounds @ $8.10 per pound 24,900 hours @ $15.50 per hour $ 308,700 8,400 units Exercise 23-8 (Algo) Standard cost per unit, total budgeted and actual costs, and total cost variance LO P2 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total $ 0