Indirect material, pounds per unit 0.15 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.00 Variable maintenance per unit $0.70 Variable utilities per unit $0.10 Supervisor salaries $11,000 Maintenance salaries $8,000 Insurance $3,000 Depreciation $1,500 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,500, 3,000, and 2,600, respective

Indirect material, pounds per unit 0.15 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.00 Variable maintenance per unit $0.70 Variable utilities per unit $0.10 Supervisor salaries $11,000 Maintenance salaries $8,000 Insurance $3,000 Depreciation $1,500 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,500, 3,000, and 2,600, respective

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 1EB: Green Bay Cheese Company estimates its overhead to be $375,000. It expects to have 125,000 direct...

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Green Bay Cheese Company estimates its overhead to be $375,000. It expects to have 125,000 direct labor hours costing $1,500,000 in labor and utilizing 15,000 machine hours. Calculate the predetermined overhead rate using: A. Direct labor hours B. Direct labor dollars C. Machine hours
A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the activity for the cost driver was estimated as 2,500 hours. If product A utilized 1,350 hours and product 8 utilized 1,100 hours, what was the total amount of overhead assigned to the products? A. $35000 B. $30.800 C. $37,800 D. $68,600
Direct labor Direct materials Overhead Total variable overhead Total fixed overhead Expected units to be produced Product cost per unit under absorption costing $ SA GA $ 17 per unit 11 per unit $30,000 $100,000 50,000 units
ZAD1 Sunshine Gardens overhead expenses are: 0.50 Indirect material pounds per unit Indirect material cost per pound Indirect labor hours $ 1.00 1.00 $ 16.50 Indirect labor rate per hour Variable maintenance per unit $ 0.75 $ 0.20 Variable utilities per unit Supervisor salaries $10,000 Maintenance salaries $ 9,000 Insurance $ 3,000 Depreciation $ 1,500 Given production of 10,200; 11,300; 12,900; and 13,200 for each quarter of the next year, prepare a manufacturing overhead budget for each quarter.
Spree Party Lights overhead expenses are: Indirect material, pounds per unit 0.25 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.00 Variable maintenance per unit $0.70 Variable utilities per unit $0.20 Supervisor salaries $10,000 Maintenance salaries $9,000 Insurance $4,000 Depreciation $1,500 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 2,900, and 2,700, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February March Units to Produce fill in the blank 1 fill in the blank 2 fill in the blank 3 Variable Costs Indirect Material $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 Indirect Labor fill in the blank 9 fill in the blank 10 fill in the blank 11 Maintenance fill in the blank 13 fill in the blank 14 fill in the blank 15 Utilities…
The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Work in Process Beg Bal 5,200 9,400 Beg Bal 4,300 22,400 5,400 6,400 8,700 8,500 Finished Goods Manufacturing Overhead Beg Bal 2,400 20,600 3,000 8,500 22,400 3,700 3,400 Wages & Salaries Payable Cost of Goods Sold 20,600 Beg Bal 2,700 Beg Bal 20,600 12,400 The manufacturing overhead was: Multiple Choice
Direct materials = $10 per unitDirect labor = $5 per unitVariable manufacturing overhead = $2 per unitFixed manufacturing overhead = $1,000Units produced is 1,000 units What is the cost per unit using the absorption method? What is the cost per unit using the variable method?
solve
Activities and Activity Measures Expected Activity Estimated Overhead Costs Product 1 Product 2 Hand-processing (direct labor-hours) $ 320,000 45,000 55,000 Setting up equipment (number of setups) 150,000 9,000 21,000 Administering parts inventories (number of part types) 30,000 110 90 $ 500,000 Transformation Corporation has provided the information set forth above regarding the overhead to be allocated between the two products it produces: CDE and EFG. What is the activity rate for the hand-processing units activity? multiple choice $3.20 per setup Incorrect $5.00 per setup $150.00 per part-type $3.20 per direct labor-hour
Direct materials issued to production $170,000Indirect materials issued to production $45,000Other manufacturing overhead $255,000Overhead allocated $240,000Direct labour costs $80,000 Is the manufacturing overhead under- or over-applied? By how much?
Production costs incurred in the manufacture of 2,400 units of a product in a period are: $ Direct costs 19,680 Variable overheads 3,120 Fixed overheads 14,640 What would be the expected total cost of manufacturing 2,300 units of the product in a period? $35,880 $36,490 $36,620 $37,310
Calculate the conversion costs from the following information: Fixed manufacturing overhead $ 3,900 Variable manufacturing overhead 2,300 Direct materials 4,400 Direct labor 2,800 a. 6200 b. 7200 c. 9000 d. 9500