Provide fast answer general accounting Labor data for making one gallon of the finished product in NienCompany are as follows:1. Price-hourly wage rate $13.80, payroll taxes $0.80, and fringebenefits $1.50.2. Quantity-actual production time 1.1 hours, rest periods andclean up 0.30 hours, and set up and downtime 0.40 hours.Compute the following.a. Standard direct labor rate per hour.b. Standard direct labor hours per gallon.c. Standard labor cost per gallon.

Step 1: Define Direct Labor CostDirect labor cost includes the cost incurred in the payment of wages…

Answered: Labor data for making one gallon of the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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Labor data for making one pound of finished product in Khalil Co. are as follows: (1) Price-hourly wage rate $11.00, payroll taxes $1.95, and fringe benefits $1.25. (2) Quantity-actual production time 1.25 hours, rest periods and clean up 0.25 hours, and setup and downtime 0.15 hours. Instructions Compute the following. (a) Standard direct labor rate per hour. (b) Standard direct labor hours per pound. (c) Standard cost per pound.
The standard labor rate is $8 per hour. Standard labor allowed per unit is 0.6 hours. The actual cost per labor hour is $7.5 and the actual labor hour per unit is 0.7 hours. What is the standard labor cost per output unit? a. $4.8 b. $5.6 c. $4.5 d. $5.25
What is the total standard cost for one unit of product that would appear on a standard cost card for this general accounting question?
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Given the following information, determine the product cost of one unit: Direct Materials = $60; Direct labor = $10; Apply Overhead based on $2 per Direct Labor hour; Direct labor hours is 4 hours per unit. a. $70 per unit b. $80 per unit c. $78 per unit d. $85 per unit Contribution margin is sales less: a. Fixed overhead and fixed selling and administrative expenses b. Variable Cost of goods sold and variable selling & administrative expenses c. Variable selling and administrative expemses and Fixed selling and administrative expenses d. variable cost of goods sold An investment generates an operating income of $100,000, and the average operating assets are $400,000. What is the return on the investment? a. 100% b. 75% c. 25% d. 20%
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Given the following information, determine the product cost of one unit: Direct Materials = $60: Direct labor = $10; Apply Overhead based on $2 per Direct Labor hour; Direct labor hours is 4 hours per unit. O $70 per unit O $80 per unit O $78 per unit $85 per unit
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Benson Corporation estimated its overhead costs would be $22,500 per month except for January when it pays the $153,120 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $175,620 ($153,120 + $22,500). The company expected to use 7,900 direct labor hours per month except during July, August, and September when the company expected 9,100 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season. The company's actual direct labor hours were the same as the estimated hours. The company made 3,950 units of product in each month except July, August, and September, in which it produced 4,550 units each month. Direct labor costs were $24.70 per unit, and direct materials costs were $10.00 per unit. Required a. Calculate a predetermined overhead rate based on direct labor hours. b. Determine the total allocated overhead cost for January, March, and August. c. Determine…

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