Francum Company has the following data: direct labor $232,000, direct materials used $182,000, total manufacturing overhead $240,000, and beginning work in process $32,000. Compute total manufacturing costs.
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- Cool Pool has these costs associated with production of 25,847 units of accessory products: direct materials, $68; direct labor, $105; variable manufacturing overhead, $48; total fixed manufacturing overhead, $780,482. What is the cost per unit under the absorption method? Round to the nearest penny, two decimal places.SagarThe following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials $ 16,400 Indirect labor 144,000 Property taxes, factory 9,400 Utilities, factory 84,000 Depreciation, factory 210,900 Insurance, factory 11,400 Total actual manufacturing overhead costs incurred $ 476,100 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 414,000 Direct labor cost $ 74,000 Inventories: Raw materials, beginning $ 21,400 Raw materials, ending $ 31,400 Work in process, beginning $ 41,400 Work in process, ending $ 71,400 The company uses a predetermined overhead rate of $23 per machine-hour to apply overhead cost to jobs. A total of 21,100 machine-hours were used during the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the…
- Dexter Company, which produces a single product, has the following standard cost and actual cost information: Standard cost: Direct materials ( 8 pounds @ $2.5/lb) $20 Direct labor (3 direct labor hours @$12/hour) 36 Manufacturing OH (3 DLH @ $10/DLH) 30 Total $86 Dexter Company assigns overhead (OH) cost based on direct labor hours (DLH). The $10/DLH pre-determined overhead rate is determined as follows: $7/DLH variable OH and $3/DLH fixed OH ($2,160/720DLH). 720 DLH reflects the capacity hours of producing 240 units (240 units X 3DLH/unit). Please note that it takes three direct labor hours to produce each unit of product. During the period, 230 units were produced at the following cost: Direct materials ( 1900 pounds @ $2.6/lb) $4,940 Direct labor (700 hours @$11.60/hour) 8,120 Manufacturing OH ($4,300 variable OH and $2,000 fixed OH) 6,300 Total $19,360 (Please note that you’ll be asked to compute several variances in this exam based on the same information…The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials $ 17,000 Indirect labor 150,000 Property taxes, factory 10,000 Utilities, factory 90,000 Depreciation, factory 147,000 Insurance, factory 12,000 Total actual manufacturing overhead costs incurred $ 426,000 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 420,000 Direct labor cost $ 80,000 Inventories: Raw materials, beginning $ 22,000 Raw materials, ending $ 32,000 Work in process, beginning $ 42,000 Work in process, ending $ 72,000 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 21,700 machine-hours were used during the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the year.Factory overhead of $39,000 consists of Indirect labor of $20,000, Depreciation expense-Factory of $15,000, and Factory utilities of $4,000. Compute total manufacturing costs. Prepare a schedule of cost of goods manufactured.
- The following cost data relate to the manufacturing activities of the Kamas Company during the most recent year. Factory overhead costs incurred during the year: P 1,600 2,600 5,100 13,000 2,500 Property taxes – factory Utilities – factory Indirect labor Depreciation - factory Insurance - factory Total Actual FOH costs P 24,800 Other costs incurred during the year: P 15,000 22,000 Purchases of raw materials Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work-in-process, beginning Work-in-process, ending P 5,000 4,400 3,500 4,500 The company uses a predetermined overhead rate to charge overhead cost to production. The rate for the year just completed was P4.00 per machine-hour; a total of 6,000 machine-hours were recorded for the year. Compute for the cost of goods manufactured for the year.Luthan Company uses a plantwide predetermined overhead rate of $23.90 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $286,800 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor- hours. The company incurred actual total manufacturing overhead cost of $267,000 and 10,500 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied to all jobs during the period.The accounting records of Tacoma Company revealed the following costs: direct materials used, $170,000; direct labor, $350,000; manufacturing overhead, $400,000; and selling and administrative expenses, $220,000. Tacoma's product costs total:
- Vaughn Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100000 for the year. The following information is available regarding activity cost pools, cost drivers, total estimated overhead costs, and estimated use of activities per product: Activity Cost Pool Ordering and Receiving Machine Setup Machining Assembly Inspection Cost Driver Orders Setups Machine hours Parts Inspections Est. Overhead $ 105000 O $7014 per order. O $1.05 per direct labor hour. O $210 per order. O $0.11 per part. 338500 1433500 1300000 330000 Cost Driver Activity 500 orders 450 setups 125000 MH 1000000 parts 500 inspections If overhead is applied using activity-based costing, the overhead application rate for ordering and receiving isHere are selected basic data for Boston Bracing Company: Estimated manufacturing overhead $253,500 Factory utilities $31,000 Estimated labor hours 35,000 Indirect labor $23,000 Actual direct labor hours 36,000 Sales commissions $53,800 Estimated direct labor cost $325,000 Factory rent $48,300 Actual direct labor cost $320,000 Factory property taxes $28,900 Factory depreciation $66,800 Indirect materials $33,700 If the company allocates overhead based on direct labor cost, what are the total actual manufacturing overhead costs? Question 42 options: $285,500 $228,800 $262,500 $231,700The accounting records of Dixon Company revealed the following costs: direct materials used, $250,000; direct labor, $425,000; manufacturing overhead, $375,000; and selling and administrative expenses, $220,000. Dixon's product costs total:
