What is the total Machining cost assigned to Product 5?
Q: Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin…
A: Workings:
Q: Boswell Company manufactures two products, Regular and Supreme. Boswell’s overhead costs consist of…
A: Overhead costs allocated to Regular Product = Labor hours consumed in Regular product X…
Q: Primary Co. makes two products, benches, and chairs. Several activities are required to produce each…
A: Total cost of production means the total amount spent on the making of the goods. It includes the…
Q: Zilong Company produces two products (A and B). Direct material and labor costs for Product A total…
A: Function Product A Product B Total overhead 1 2 hours x P10 per hour = P20 1 hour x…
Q: .If total overhead is assigned to A and B on the basis of direct labor hours, Product A will have an…
A: Hours required per unit in each function (Table 1) Products Function 1 Function 2 Function 3…
Q: Horgen Corporation manufactures two products: Product M68B and Product H27T. The company is…
A: Given that, Total cost and total activity Machining = $299,000 and 13,000 machine hours Machine…
Q: Zilong Company produces two products (A and B). Direct material and labor costs for Product A total…
A: Function Product A Product B Total overhead 1 2 hours x P10 per hour = P20 1 hour x P10 per hour…
Q: Hollywood Co. computed an overhead rate for machining costs ($1,500,000) of $15 per machine hour.…
A: The overhead is applied to the production on the basis of predetermined overhead rate.
Q: ngs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin is $25…
A: In this question, we have to find out the unit cost to manufacture each unit
Q: Johnstone Company manufactures two products, Board 12 and Case 165. Johnstone's overhead costs…
A: The pre-determined overhead rate is calculated as the estimated overhead costs divided by the…
Q: Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin…
A: Activity base costing is used to allocate the manufacturing overhead on the basis of activity rate.…
Q: Morgana Company identifies three activities in its manufacturing process: machine setups, machining,…
A: Overhead rate per activity = Estimated annual overhead cost for activity / No. of activity
Q: Which of the following statements concerning the unit product cost of Product S9 is true? (Round…
A: The correct option with all necessary working note are as follows
Q: Gray Fullbuster produces two different products (Square Ice Cube Trays and Round Ice Cube Trays)…
A: ACTIVITY BASED COSTING Activity Based Costing is a Powerful tool for measuring performance.…
Q: Boswell Company manufactures two products, Regular and Supreme. Boswell’s overhead costs consist of…
A: Using traditional costing, the total overhead cost is divided using the direct labor hours. In…
Q: Beachway manufactures two different levels of bicycles: the Standard and the Extreme. The total…
A:
Q: Lymwood, Inc. produces two different products (Product A and Product X) using two different…
A: Inspection cost assigned to Product A = no. of batches x inspection cost per batch
Q: The Sit-N-Spin Corporation manufactures and assembles office chairs. Sit-N-Spin uses an…
A: The allocation base for materials handling is the number of parts used by a chair. As per the data,…
Q: The Sit-N-Spin Corporation manufactures and assembles office chairs. Sit-N-Spin uses an…
A: Overheads are considered as fixed and common expenses that should be allocated to the products on…
Q: Vattes, Incorporated, manufactures and sells two products: Product 15 and Product U1. Data…
A: From the given information, Total overhead = $268,698+ $37,324+ $633,895 = $939,917 Overhead applied…
Q: Boswell Company manufactures two products, Regular and Supreme. Boswell’s overhead costs consist of…
A: Number of machine Hours : 10000+30000= 40000 Overhead rate for machining department = Overhead cost…
Q: Sebastian Company manufactures and sells sportswear products. Sebastian uses activity-based costing…
A: Activity based costing use to allocate overhead costs to products. Under this method allocation of…
Q: Overhead applied to Supreme using activity-based costing is $3638000. $2040000. $1462000. $3060000.
A: Machining overhead is allocated based on the Machine hours. Assembling overhead is allocated based…
Q: Tri-bikes manufactures two different levels of bicycles: the Standard and the Extreme. The total…
A: Traditional costing is the allocation of overhead to products based on the volume of production…
Q: Spates, Incorporated, manufactures and sells two products: Product H2 and Product E0. Data…
A: Predetermined Overhead Rate :— It is the rate used to allocate manufacturing overhead cost to cost…
Q: Gable Company uses three activity pools. Each pool has a cost driver. Information for Gable Company…
A: Activity Rate :— It is the rate used to allocate manufacturing overhead cost to cost object under…
Q: Alvarez Company makes three joint products, products A, B, and C. For each batch, the materials cost…
A: Joint costing system is used when more than one product is being manufactured by same manufacturing…
Q: eceiving Number setup pection Inspection time For the basic model is 250 units, for the adva of…
A: Overhead allocated = ($2 per part* 15 part*100 units) + ($500 per setup * 1 setup) + (($90/60)per…
Q: Solomons, Inc. makes widgets in two models: basic and elite. Solomons, Inc. estimated $865,000 of…
A: The overhead is applied to the production on the basis of predetermined overhead rate. The…
Q: abor hours 10000 15000 Machine hours 10000 30000 Number of parts 90000 160000 Overhead applied to…
A: Predetermined overhead Rate =Total overhead cost/ Total Direct labor hours…
Q: Boswell Company manufactures two products, Regular and Supreme. Boswell’s overhead costs consist of…
A: Activity-based Costing is a method of assigning cost of each activity present in the production…
Q: Spates, Inc., manufactures and sells two products: Product H2 and Product EO. Data concerning the…
A:
Q: lata Company produces two products: a mostly handcrafted soft leather briefcase sold under the label…
A: Consumption ratio is calculated by dividing activity usage by total usage. Plant Wide Overhead…
Q: Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin…
A: Lets understand the basics. For calculating cost per unit, we will need to use below formula. Cost…
Q: Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin…
A: Total cost of jobs refers to the cost of all jobs involved.
Q: Requ Gable Company uses three activity cost pools. Each pool has a cost driver. Information for…
A: Activity Rate :— It is the rate used to allocate manufacturing overhead cost to cost object under…
Q: The Sit-N-Spin Corporation manufactures and assembles office chairs. Sit-N-Spin uses an…
A: Different costs to production are allocated on the basis of different variables, accordingly costs…
Q: Jefferson, Incorporated, produces two products (Product 5 and Product Z) using two activities:…
A: The initial cause of a company expense is the cost driver. Any action that results in the cost of…
Q: Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin…
A: Job costing is a way of accounting that allows you to keep a record of the costs of different tasks…
Q: Brannon Company manufactures ceiling fans and uses an activity-based costing system. Each ceiling…
A: A costing system refers to calculating the cost of producing goods or providing services. Costing…
Q: Required: 1. Complete the standard cost card for each product, showing the standard cost of direct…
A: Step 1 Variances is the difference between Budgeted cost and actual cost of factors of Production.
Jackson, Incorporated produces two products (Product 5 and Product Z) using two activities: Machining, which uses machine hours as the cost driver, and Inspection, which uses the number of batches as the cost driver. The cost of Machining is $520,000, while the cost of Inspection is $40,000. Product 5 uses 25% of total machine hours and 65% of total batches. What is the total Machining cost assigned to Product 5?
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- Peters, Inc. produces 3 products: P1, Q2, and R3. P1 requires 400 purchase orders, Q2 requires 600 purchase orders, and R3 requires 1000 purchase orders. Peters has identified an ordering and receiving activity cost pool with allocated overhead of $420000 for which the cost driver is purchase orders. Direct labor hours used on each product are 50000 for P1, 40000 for Q2, and 110000 for R3. How much ordering and receiving overhead is assigned to each product? O P1 $94500 $105000 $84000 $140000 92 $105000 $84000 $126000 $140000 R3 $220500 $231000 $210000 $140000 Que Accou Que Multip Ques Muttpl Quest Multiple Quest Multiple Viewin Questio HOMKlamath Corp. produces two products: saws and drills. Three activities are used in their manufacture. These activities and their associated costs and bases are as follows: Activity Stamping Assembly Setup Activity Base Machine hours Labor hours Number of setups Units produced Budgeted Costs Saws Drills $200,000 400,000 30,000 Saws 4,000 7,000 $ 3 500 Activity Base Machine hours Labor hours Number of setups a. Determine the activity rate for each activity. Stamping Assembly Setup Drills 6,000 13,000 12 600 per machine hour per labor hour per setup b. Determine the factory overhead to be allocated to each unit of product. Round your answers to two decimal places, if necessary. per unit per unit Total 10,000 20,000 15 PreviousLynwood, Inc. produces two different products (Product A and Product X) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver. The activity rate for Machining is $130 per machine hour, and the activity rate for Inspection is $520 per batch. The activity drivers are used as follows: Product A Product X Total Machine hours 1,200 3,200 4,400 Number of batches 46 16 62 What is the amount of Machining cost assigned to Product X? Multiple Choice $416,000 $27,500 $520,000 $130,000
- Bluefield Corp. has two product lines, A and B. Bluefield has identified the following information about its overhead and potential cost drivers: Total overhead $64,400 Cost drivers Number of labor hours 2,700 Number of machine hours 40,000 Required:1. Suppose Bluefield Corp. uses a traditional costing system with number of labor hours as the cost driver. Determine the amount of overhead assigned to each product line if Product A requires 62 percent of the labor hours and Product B requires 38 percent. 2. Suppose Bluefield uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line if Product A consumes 17,800 machine hours and Product B consumes 22,200.9. Calverton, Inc. produces two different products (Standard and Luxury) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver. The cost of Machining is $780,000, while the cost of Inspection is $46,800. Standard is assigned $452,400 in Machining cost, and $35,568 in Inspection cost. What proportion of Inspection activity is used by Luxury? 00:41:23 Multiple Choice 32% 24% 69% 66% ( Prev 9 of 10 Next > MacBook Pro %23 96 2 3 4 6 8 Q E R P A D G H J K > V M command command option O O OMickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials—X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Product Raw Material Standard Labor Time X442 Y661 Sintering Finishing Alpha6 1.8 kilos 2.0 liters 0.20 hours 0.80 hours Zeta7 3.0 kilos 4.5 liters 0.35 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Material Purchases Purchase Cost Standard Price Used in Production X442 14,500 kilos $ 52,200 $ 3.50 per kilo 8,500 kilos Y661 15,500 liters $ 20,925 $ 1.40 per liter 13,000 liters The following additional information is available: The company recognizes price variances when materials are purchased. The standard labor rate is $19.80 per hour in Sintering and $19.20 per hour in Finishing. During…
- Tri-bikes manufactures two different levels of bicycles: the Standard and the Extreme. The total overhead of $300,000 has traditionally been allocated by direct labor hours, with 150,000 hours for the Standard and 50,000 hours for the Extreme. After analyzing and assigning costs to two cost pools, it was determined that machine hours is estimated to have $200,000 of overhead, with 4,000 hours used on the Standard product and 1,000 hours used on the Extreme product. It was also estimated that the setup cost pool would have $100,000 of overhead, with 1,000 hours for the Standard and 1,500 hours for the Extreme. Required: Calculate the amount of overhead assigned per product, under traditional and under ABC costing.Gable Company uses three activity pools. Each pool has a cost driver. Information for Gable Company follows: Total Cost of Pool $ 454,960 100,000 72,720 Estimated Cost Driver 96,800 10,000 505 Activity Pools Machining Designing costs Setup costs Suppose that Gable Company manufactures three products, A, B, and C. Information about these products follows: Product A Product B 38,000 4,000 40 Number of machine hours Number of design hours Number of batches Cost Driver Number of machine hours Number of design hours Number of batches Product A Product B Product C Total Overhead Assigned 48,000 2,200 170 Required: Using activity rates, determine the amount of overhead assigned to each product. Note: Do not round intermediate calculations. Round the final answer to nearest whole number. Product C 10,800 3,800 295Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are listed below. Product Number ofUnits Direct Labor HoursPer Unit Machine HoursPer Unit Blinks 1,000 4 5 Dinks 2,000 2 8 All of the machine hours take place in the Fabrication Department, which has an estimated overhead of $84,000. All of the labor hours take place in the Assembly Department, which has an estimated total overhead of $72,000. Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs based on direct labor hours. The factory overhead allocated per unit of Blinks is a.$37.45 b.$19.50 c.$56.00 d.$78.00
- Lynwood, Inc. produces two different products (Product A and Product X) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver. The activity rate for Machining is $180 per machine hour, and the activity rate for Inspection is $580 per batch. The activity drivers are used as follows: Product A: (machine hours= 1,200) (number of batches 55) Product X: (mahine hours= 3,200) (number of batches 18) Totals: (Machine hours= 4,400) (number of batches 73) What is the amount of Machining cost assigned to Product X?Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Standard Labor Time Sintering Finishing 0.40 hours 0.80 hours 0.30 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Material Standard Price $ 3.60 per kilo X442 Used in Production 8,600 kilos 13,100 liters Y661 $ 1.50 per liter Product Alpha6 Zeta7 Raw Material Y661 X442 1.5 kilos 3.5 kilos 4.4 liters 2.2 liters Purchases 14,100 kilos 15,100 liters Purchase Cost $ 53,580 $ 21,140 The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $18.00 per hour in Sintering and $18.00 per hour in Finishing. c. During May, 1,250 direct labor-hours were…Saved Jefferson, Inc. produces two different products (Product 5 and Product Z) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver. The cost of Machining is $324,000, while the cost of Inspection is $37000. The activity drivers are used as follows: Product 5 Product I Total 5,400 70 Machine hours 3,240 2,160 Number of batches 28 42 What proportion of Inspection activity is used by Product Z? Multiple Cholce 68% 32% 60%
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)