Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 5,700 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $ 47 $21 $ 8 $5 $ 4,90,200 $ 4,38,900 There were no beginning or ending inventories. The variable costing unit product cost was

Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 5,700 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $ 47 $21 $ 8 $5 $ 4,90,200 $ 4,38,900 There were no beginning or ending inventories. The variable costing unit product cost was

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Orinder Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 275,800, direct labor cost was 153,000, and overhead cost was 267,300. There were 25,000 units produced. Unit manufacturing cost (rounded to the nearest cent) is a. 28.40 b. 27.98 c. 34.95 d. 27.55
Wyandotte Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 256,900, direct labor cost was 176,000, and overhead cost was 308,400. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 6.62 is direct materials and 7.71 is overhead. What is the prime cost per unit? Conversion cost per unit?
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry your answer to four significant digits)?
During the week of August 21, Parley Manufacturing produced and shipped 4,000 units of its machine tools: 1,500 units of Tool SK1 and 2,500 units of Tool SK3. The cycle time for SK1 is 0.73 hour, and the cycle time for SK3 is 0.56 hour. The following costs were incurred: Required: 1. Assume that the value-stream costs and total units shipped apply only to one model (a single-product value stream). Calculate the unit cost, and comment on its accuracy. 2. Assume that Tool SK1 is responsible for 60% of the materials cost. Calculate the unit cost for Tool SK 1 and Tool SK3, and comment on its accuracy. Explain the rationale for using units shipped instead of units produced in the calculation. 3. Calculate the unit cost for the two models, using DBC. Explain when and why this cost is more accurate than the unit cost calculated in Requirement 2.
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
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here were no beginning or ending inventories. The variable costing unit product cost was:
Beamish Incorporated, which produces a single product, has provided the following data for its most recent month of operations: Number of units produced Variable costs per unit: Direct materials Direct labor 10,400 $110 $99 $7 $11 Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead $343,200 Fixed selling and administrative expense $717,600 There were no beginning or ending inventories. The absorption costing unit product cost was
Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced Variable costs per unit: 2,900 Direct materials 2$ 64 Direct labor 60 Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense 2$ 7 2$ 10 $110,200 $214,600 There were no beginning or ending inventories. The absorption costing unit product cost was:
Murphy Inc., which produces a Single product has provided the following data for its most recent Month of operation. Number of units produced Variable cost per unit: Direct materials. Direct Labov Variable manufacturing overhead Variable and adminstrative expenses. Selling Fixed cost: Fixed manufacturing Overhead Fixed Selling and adminstrative expenses 7,000 $37 $43 $15 $84,000 $119,000 The Company had no beginning or ending inventories Required a. Compute the unit product cost under absorption costing b. Compuse the unit product cost under variable costing.
Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 4,100 Variable costs per unit: Direct materials $ 39 Direct labor $ 30 Variable manufacturing overhead $ 11 Variable selling and administrative expense $ 5 Fixed costs: Fixed manufacturing overhead $ 336,200 Fixed selling and administrative expense $ 303,400 There were no beginning or ending inventories. The variable costing unit product cost was: