Exercise 6-36 (Algo) Process Costing (LO 6-1) Bremen Fitness Products produces a sports drink. On October 1, it had no work-in-process inventory. It started production of 10,200 cases of the drink in October and shipped 8,400 cases to retailers. (Bremen holds no finished goods inventory.) The costs of the resources used by Bremen in October consist of the following. Materials Conversion costs (labor and overhead) $ 87,523 162,251 Required: The production supervisor estimates that the ending work in process is 55 percent complete on October 31. Compute the cost of cases shipped and the amount in work-in-process ending inventory as of October 31. Note: Do not round intermediate calculations. Cost of cases shipped Work-in-process ending inventory

Exercise 6-36 (Algo) Process Costing (LO 6-1) Bremen Fitness Products produces a sports drink. On October 1, it had no work-in-process inventory. It started production of 10,200 cases of the drink in October and shipped 8,400 cases to retailers. (Bremen holds no finished goods inventory.) The costs of the resources used by Bremen in October consist of the following. Materials Conversion costs (labor and overhead) $ 87,523 162,251 Required: The production supervisor estimates that the ending work in process is 55 percent complete on October 31. Compute the cost of cases shipped and the amount in work-in-process ending inventory as of October 31. Note: Do not round intermediate calculations. Cost of cases shipped Work-in-process ending inventory

Name: Exercise 6-36 (Algo) Process Costing (LO 6-1)Bremen Fitness Products
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Description: Exercise 6-36 (Algo) Process Costing (LO 6-1)Bremen Fitness Products produces a sports drink. On October 1, it had no work-in-process inventory. It started production of 10,200cases of the drink in October and shipped 8,400 cases to retailers. (Brem

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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Company FB1 produces skateboards. In April the company produced 520 skateboards. The normal production volume is 500 skateboards.In April the company had the following costs: Rawmaterial 2 600 € Salaries (variable) 8 000 € Fixed costs 4 000 € Administration and accounting (fixed) 2 500 € What is the unit cost for a skateboard using normal costing method? €
EXERCISE 2 Low-Tek Manufacturing Incorporated makes two types of industrial component parts - the B300 and the T500. The Income Statement for the most recent period is shown below: Low-Tek Manufacturing Incorporated Income Statement Sales Cost of goods sold Gross profit P2,100,000 1,600,000 500,000 550,000 Selling and administrative expenses Net operating loss P(50,000) Low-Tek produced and sold 70,000 units of B300 at a price of P20 per unit and 17,500 units of T500 at a price of P40 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor cost as the allocation based. Additional information relating to the company's two product lines is shown below: T500 TOTAL B300 P436,300 P251,700 P688,000 Direct materials Direct labor P200,000 P104,000 304,000 De S
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Under absorption costing, a company had the following per unit costs when 10,000 units were produced. Direct labor $ 3.80 Direct materials 4.80 Variable overhead 5.80 Total variable cost 14.40 8.60 Fixed overhead ($86,000/10,000 units) Total product cost per unit $23.00 The company sells its product for $75.20 per unit. Due to new regulations, the company must now incur $3.80 per unit of hazardous waste disposal costs and $4,630 per year of fixed hazardous waste disposal costs. Compute the company's break-even point (in units), including hazardous waste disposal costs. Break-even point 1,486 units
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