If to those obtained inu Using the ABC system, what percentage of the Product Design cost is assigned to Product Y?ntugcs SiIIIWhat percentage is assigned to Product Z? Are these percentages similar to those obtained inrequirement 11? Why?Ls Using the ABC system, what percentage of the General Factory cost is assigned to Product Y?What percentage is assigned to Product Z? Are these percentages similar to those obtained inrequirement 11? Why?in) abeGrawHillEducationConnectEXERCISE 7–1 ABC Cost Hierarchy LO7–1The following activities occur at Greenwich Corporation, a company that manufactures a varietyof products.Receive raw materials from suppliers.b. Manage parts inventories.Do rough milling work on products.d. Interview and process new employees in the personnel department.e. Design new products.I. Perform periodic preventive maintenance on general-use equipment.g. Use the general factory building.h. Issue purchase orders for a job.a.c.Classify each of the activities above as either a unit-level, batch-level, product-level, ororganization-sustaining activity.Required:

Activity based costing: It can be defined as the costing that assigns cost using factors like cost…

Answered: If to those obtained in u Using the ABC…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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35. Which of the following is not an objective of product costing systems? a. To assist in the preparation of financial statements b. To provide information for cost planning c. To determine the optimal amount of products to manufacture d. To provide information for product pricing
58. Contractors who sell to government agencies would be most likely to use which of the following cost methods in pricing their products? a. variable cost method b. product cost method c. total cost methodd. fixed cost method
! Required information [The following information applies to the questions displayed below.] For many years, Thomson Company manufactured a single product called LEC 40. Then three years ago, the company automated a portion of its plant and at the same time introduced a second product called LEC 90 that has become increasingly popular. The LEC 90 is a more complex product, requiring 0.60 hours of direct labor time per unit to manufacture and extensive machining in the automated portion of the plant. The LEC 40 requires only 0.20 hours of direct labor time per unit and only a small amount of machining. Manufacturing overhead costs are currently assigned to products on the basis of direct labor-hours. Despite the growing popularity of the company's new LEC 90, profits have been declining steadily. Management is beginning to believe that there may be a problem with the company's costing system. Direct material and direct labor costs per unit are as follows: Direct materials Direct labor…
Which one is the correct answer?
• The unit cost… a. is the total conversion costs divided by the number of units produced. b. is the total product costs divided by the number of units produced. c. product plus period cost d. is the total prime costs divided by the number of units produced. e. includes period costs.
Use the following data to answer the question. Inputs of Labor Total Product 0 1 2 3 4 5 6 7 The average product (AP) when seven units of labor are hired is Multiple Choice O O -3. 0 10 22 36 48 58 66 63 18.
I need the answer as soon as possible
1. With ABC, overhead costs are assigned to each product based on ________. Group of answer choices machine hours per product price of the product a predetermined overhead rate for a single cost driver the proportion of that product’s use of the cost driver
Sh11
! Required information [The following information applies to the questions displayed below.] Cane Company manufactures two products called Alpha and Beta that sell for $135 and $95, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 105,000 units of each product. Its unit costs for each product at this level of activity are given below: Direct materials Direct labour Variable manufacturing overhead Traceable fixed manufacturing overhead Variable selling expenses Common fixed expenses Cost per unit Alpha $30 23 10 19 15 18 $115 Beta $18 16 8 21 11 13 $87 The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are deemed unavoidable and have been allocated to products based on sales dollars.
Kilbourne Appliances produces two models of beverage coolers for homes and offices, the KA-15 and the KA-24. Data on operations and costs for March follow. Units produced Machine-hours Direct labor-hours Direct materials costs Direct labor costs Manufacturing overhead costs Total costs Required: Problem 6-64 (Algo) Product Costing (LO 6-2) Required A KA-15 Required B 600 360 750 Required C $ 85,000 16,950 KA-24 400 540 1,750 $ 133,000 39,550 a. Compute the individual product costs per unit assuming that Kilbourne Appliances uses the number of units to allocate overhead to the products. b. Compute the individual product costs per unit assuming that Kilbourne Appliances uses direct labor cost. c. Compute the individual product costs per unit assuming that Kilbourne Appliances uses direct material costs to allocate overhead to the products. Total Kie 1,000 900 2,500 $ 218,000 56,500 212,550 $ 487,050 Compute the individual product costs per unit assuming that Kilbourne Appliances uses the…
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