eBook Show Me How Westgate Inc. uses a lean manufacturing strategy to manufacture DVR (digital video recorder) players. The company manufactures DVR players through a single product cell. The budgeted conversion cost for the year is $850,500 for 1,890 production hours. Each unit requires 12 minutes of cell process time. During March, 810 DVR players were manufactured in the cell. The materials cost per unit is $61. The following summary transactions took place during March: a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar. per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. per unit 1. 2. 3. 1. Materials were purchased for March production. 2. Conversion costs were applied to production. c. Journalize the summary transactions (1)-(4) for March. If an amount box does not require an entry, leave it blank. 3. 810 DVR players were assembled and placed in finished goods. 4. 770 DVR players were sold for $267 per unit. 4. Cost 4. Sale meck My Work Previous Next

eBook Show Me How Westgate Inc. uses a lean manufacturing strategy to manufacture DVR (digital video recorder) players. The company manufactures DVR players through a single product cell. The budgeted conversion cost for the year is $850,500 for 1,890 production hours. Each unit requires 12 minutes of cell process time. During March, 810 DVR players were manufactured in the cell. The materials cost per unit is $61. The following summary transactions took place during March: a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar. per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. per unit 1. 2. 3. 1. Materials were purchased for March production. 2. Conversion costs were applied to production. c. Journalize the summary transactions (1)-(4) for March. If an amount box does not require an entry, leave it blank. 3. 810 DVR players were assembled and placed in finished goods. 4. 770 DVR players were sold for $267 per unit. 4. Cost 4. Sale meck My Work Previous Next

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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Boxer Manufacturing produces luxury dog houses. Each dog house requires 4.0 hours of machine time for its elaborate trim and finishing. For the current year, Boxer calculated its predetermined fixed manufacturing overhead (MOH) rate to be $20 per machine hour. The company budgets its fixed MOH to be $202,000 per month. Last month, Boxer produced 2,000 dog houses and incurred $196,400 (actual) of fixed MOH. Read the requirements. Requirement 1. Calculate the fixed overhead budget variance Begin by determining the formula for the fixed overhead budget variance, then compute the variance. (Enter the variance as a positive number. Label the variance as favorable (F) or unfavorable (U) in the input field after the amount you enter.) Fixed MOH budget variance
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Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: Standard Hours 27 minutes Standard Rate per Hour Standard Cost $2.79 $6.20 During August, 9,320 hours of direct labor time were needed to make 19,000 units of the Jogging Mate. The direct labor cost totaled $55,920 for the month. Required: 1. What is the standard labor-hours allowed (SH) to makes 19,000 Jogging Mates? 2. What is the standard labor cost allowed (SH × SR) to make 19,000 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manufacturing overhead rate is $4.50 per direct labor-hour. During August, the company incurred $44,736 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month. (For requirements 3 through 5, indicate…
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Lean Accounting Westgate Inc. uses a lean manufacturing strategy to manufacture DVR (digital video recorder) players. The company manufactures DVR players through a single product cell. The budgeted conversion cost for the year is $706,200 for 2,140 production hours. Each unit requires 12 minutes of cell process time. During March, 960 DVR players were manufacture the cell. The materials cost per unit is $66. The following summary transactions took place during March: 1. Materials were purchased for March production. 2. Conversion costs were applied to production. 3.960 DVR players were assembled and placed in finished goods. 4.910 DVR players were sold for $234 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar. per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. per unit
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Subject: Acounting