Do the questions D -F please!!! 2:38ll LTEFerm, chemical uses a standord costSystcm to acçount for he costs of itsphodu ction of chemical X. Standardsare T,4gallons of materialsat $105 pergallon ad 1o nours of labor at a stondardWage rate of $12. Durina Seprember, FerryChemica Produced e00gations ofond used fotalehemical purchosed3.040galldos atatotal cost of $381, 180. Payroll totaled$302,730 for 25,430 hoursworkedCalculatedirect materials price variancedirect materiais' quantityvariancedirect materials total (sperdinuariancegirect labor rate variancedireet iabor efficiency variancedirect labor total EspendingsucuarianceThe walnut Division of Benton corp

Following are the formulas to calculate the Labor cost variance: Direct Labor rate Variance = Actual…

Ferm, chemical uses a standord ost Systcm to account for The costs of its phodu ction of chemical X. StandardS are T.4 gallons of materialsat $105 per gallon and 10 hours of Tabor at a stondord Wage rate of $12, During Seprember Ferry Chemical produced 2Le00gatlons of Chemical'X. Femy chemical purchosed ond used totaled 3.0e0galldos at a total cost of$381, 180. Payrol totaled B302,730 for 25,450 hoursworked Calculate direct materials price variance airect materiais' Quantityvariance direct materials total (sperdigjuariance girect labor rate voriance direct jaborefticienay variance direct labor total (spendirgsuariance The walnut Division of Bennton corp

Ferm, chemical uses a standord ost Systcm to account for The costs of its phodu ction of chemical X. StandardS are T.4 gallons of materialsat $105 per gallon and 10 hours of Tabor at a stondord Wage rate of $12, During Seprember Ferry Chemical produced 2Le00gatlons of Chemical'X. Femy chemical purchosed ond used totaled 3.0e0galldos at a total cost of$381, 180. Payrol totaled B302,730 for 25,450 hoursworked Calculate direct materials price variance airect materiais' Quantityvariance direct materials total (sperdigjuariance girect labor rate voriance direct jaborefticienay variance direct labor total (spendirgsuariance The walnut Division of Bennton corp

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

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3. ManutacturIng coste. Selected dala concorning last yoar's operatlons of Televans Company áre as follows (000s omitted): Inventorlos Daginning Ending Finlshod goods. Work In procOs... $90 $110 • 30 85 Maturlals. 75 Other data: Materlals usead.... $326 Tolal manulacturing costs clarged to Jobs during tho year (Includes malerials, cdirect labor, and factory overhead applled at a rale of 30% of dlrect labor cost).. Cost of goods avallablo for sale.. Markoting and administrativo exponses. 686 826 25 Flequirad: Compute the following: (1) Cost of materlals purchased. (2) Direct labor cost charged to production. (3) Cost of goods manufactured. (4) Cost of goods sold.X (ICMA adaptod) O50
Halpern Companys controller prepared the following income statement and balance sheet at the end of the first year of the companys existence: Investigation shows that RD costs include, among others, 8,000 of operating costs because the company is not yet operating at capacity. In addition, RD costs include 5,000 of materials that were wasted during early production because our employees made some unnecessary mistakes. Required: Prepare the financial statements according to GAAP.
Company XYZ has total prime cost of $12,000 and total conversion cost of $24,000. Assume that manufacturing overhead cost is five times the direct labor cost how much is the direct materials cost Select one: O a. 8,000 O b.4.000 O C. None of the given answers O d. 12.000 O e. 20,000
Compute conversion costs given the following data: direct materials, $366,300; direct labor, $191,700; factory overhead, $208,000 and selling expenses, $48,200. Oa. $574,300 Ob. $159,800 Oc. $399,70o Od. $766.00o > ( Previous Next 3:23 PM 53°F Sunny A 12/14/2021 a %23 2)
The prime cost for company XYZ was $20,000, while the conversion cost was $25,000. Assume that direct labor cost is three times the direct materials cost and that the manufacturing overhead cost was two times the direct materials cost. Calculate the direct materials cost ($). O a. 15,000 O b. 30,000 O c. 10,000 O d. 5,000 O e. 45,000 JS PAGE NEXT PAGE 11:37 re to search ADA 4x ENG 22-05-2021 hp prt se 144 delete home wnd 7\ 9 + backspace num lock L. E 8 A home D. K enter 50 pause B 1 shift 11 end alt ctrl 立

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nttps:25A%252F%252HM..mh A company allocates materials handling cost to the company's two products using the below data: Product A Product B Total expected units produced 5,400 11,800 Total expected material 530 470 moves Expected direct labor-hour 670 150 per unit The total materials handling cost for the year is expected to be $182,000. If the materials handling cost is allocated on the basis of direct labor-hours, how much of the total materials handling cost would be allocated to the Product B? (Round your intermediate calculations to 5 decimal places.) Multiple Choice $97,944 $74,263 $35,671 $59.791
Pls solve it, subject-engineering economics and costing
PS-10: Zurich:Company provldod Iho following.ilnformation porlainlng to he movement of jie Total P3,600 :7,000 raw matorlals lnvontory for: lho'month of Soptomber 2015: Quantly 300 500 400 500 400 100 100 Unit Cost P12 Boglnning balanco. 3 Rocolvod fromisuppllor. 9 :" İssued lo, prodúctlon; 16 Sept. 6,500 "Rocelvod from suppller 18. Issuodito prodüctlon. 21 Recelvod from:suppller . 26 Issuad to productlon 1,600 There were'no inventorles of Indirect materlals:" Řequired: Case 1-Calculate the costiof materials usediand ending inventory:ünder:each:of the following. FIFO-perlodic b FIFO-perpotual LIFO- periodíc LIFO – perpetual.: Average-periodie Average:- perpetuali Case 2- Assuming after physical inspęction on: September 30th; Zurich determined that there were only 480 units left on hand, calculatë the cost of rawmaterials and: ending inventory under each of the following: FIFO periodic. FIFO.- perpetual. LIFO=periodic. d: LIFO.- perpetual Average -periodic Average = perpetual CS Scanned…
The prime cost for company XYZ was $20,000, while the conversion cost was $25,000. Assume that direct labor cost is three times the direct materials cost and that the manufacturing overhead cost was two times the direct materials cost. Calculate the total manufacturing cost ($). O a. 30,000 O b. 15,000 Oc 10,00O O d. 5,000 O e. 45,000
e. $5,752.10. Company XYZ has total prime cost of $21,000 and total conversion cost of $42,000. Assume that manufacturing overhead cost is three times the direct labor cost, how much is the direct materials cost? Select one: O a. None of the given answer O b. 21,000 O c. 10,500 O d. 12,000 O e. 31,500
The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are Actual Material price per pound of direct material Quantity of material in pound per unit of product Actual production untis of product BDMOV (AQ SQ) for Actual Production x SP C DMCV DMPV + DMOV Actual cost per unit of product (AC) Standard costs per unit of product (SC) $8.00 Alternate formula to compute DMCV= (Actual cost-standard cost) per unit x # of units 065 3,000 Required: Compute the followings variances and indicate if they are favorable (F) or unfavorable (UF) A. Direct material Price variance (DMPV) B. Direct matenal Quantity variance (DMQV) C. Total Direct material Cost variance (DMCV) Solution: A.DMPV = (AP-SP) x AQ for Actual Production Standard Variance $ For UF ($1,462 50) F ($5,250.00) F AQ $8.75 SQ 0.45 ($6.712 50) F 1950 1350 Acronyms: AP Actual price per unit of Material SP Standard price per unit of Material AQ-Actual quantity of Material for Actual…