Labour data for making one unit of finished product in Waterway Company are as follows: (1) Price-hourly wage rate $10.00, payroll taxes $0.80, and fringe benefits $1.60. (2) Quantity-actual production time 1.40 hours, rest periods and cleanup 0.50 hours, and set-up and downtime 0.40 hours. Calculate the following: (Round calculations and final answers to 2 decimal places, e.g. 15.25.) a. Standard direct labour rate per hour $enter a dollar amount rounded to 2 decimal places b. Standard direct labour hours per unit enter a number of hours rounded to 2 decimal places hours c. Standard labour cost per unit Senter a dollar amount rounded to 2 decimal places

Labour data for making one unit of finished product in Waterway Company are as follows: (1) Price-hourly wage rate $10.00, payroll taxes $0.80, and fringe benefits $1.60. (2) Quantity-actual production time 1.40 hours, rest periods and cleanup 0.50 hours, and set-up and downtime 0.40 hours. Calculate the following: (Round calculations and final answers to 2 decimal places, e.g. 15.25.) a. Standard direct labour rate per hour $enter a dollar amount rounded to 2 decimal places b. Standard direct labour hours per unit enter a number of hours rounded to 2 decimal places hours c. Standard labour cost per unit Senter a dollar amount rounded to 2 decimal places

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Rex Industries has identified three different activities as cost drivers: machine setups, machine hours, and inspections. The overhead and estimated usage are: Rex Industries data Activity Machine setups Machine hours Inspections Overhead per Activity $155,000 352,800 120,750 Annual Usage 4,000 14,112 3,500 Overhead Rate per Activity $ Complete the chart and compute the overhead rate for each activity. Round to the nearest penny, two decimal places.
Note : A short answer please .
pany applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, and machine hours would total 20,000. By 20x1 vear-end, actual overhead totaled $525,000, and actual machine hours were 25.000, On the basis of this information, the 20x1 predetermined overhead rate was: A) $20 per machine hour. B) $0.05 per machine hour. C) $0.04 per machine hour. D) $25 per machine hour. E) $21 per machine hour.
(c) Calculate the total manufacturing overhead cost for the period. $ __________________ (d) Calculate the total manufacturing cost for the period. $ __________________
Manufacturing cost data for Sheffield Company are presented below. (a) Indicate the missing amounts for each letter (a) through (i). Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Work in process 1/1/20 Total cost of work in process Work in process 12/31/20 Cost of goods manufactured $ Option A 51,200 44,600 179,400 203,000 $170,800 (a) (b) (c) $ Option B $93,900 43,200 43,800 23,600 32,100 (e) $ Alamat Option C $75,200 50,200 179,100 200,000 34,200 (h) ()
Please help complete parts of question 1 1a. If 8,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production at is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places.) Total manufacturing overhead cost: Manufacturing overhead per unit it: 1b. If 12,500 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? What is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places.) Total manufacturing overhead cost: Manufacturing overhead per unit: 1c. If the selling price is $22 per unit, what is the contribution margin per unit? (Do not round intermediate calculations. Round you answer to 2 decimal places.) 1d. If 11,000 units are produced, what are the total amounts of direct and indirect manufacturing costs incurred to support this leve production? (Do not round…
Can you please help me fill out the two tables, also please let me know what formulas and rules were used
Here are selected data for Wilson Company Estimated manufacturing overhead Estimated labor hours Actual direct labor hours Estimated direct labor cost Actual direct labor cost Factory depreciation $257,750 35,000 36,000 $330,400 $320,300 $65,400 If the company allocates overhead based on direct labor cost, what is the predetermined manufacturing overhead rate? OA. 78% of direct labor cost OB. 80 % of direct labor cost OC. 128% of direct labor cost OD. 103% of direct labor cost Factory utilities Indirect labor Sales commissions Factory rent Factory property taxes. Indirect materials COS $30,200 $22,400 $53,700 $47,700 $28,100 $33,000
Dinesh bhai
) Jeremy Corporation estimated manufacturing overhead costs for the year to be $500,000. Jeremy also estimated 8,000 machine hours and 2,000 direct labor hours for the year. It bases the predetermined overhead allocation rate on machine hours. On January 31, Job 25 was completed. It required 6 machine hours and 1 direct labor hour. What is the amount of manufacturing overhead allocated to the completed job? (Round your intermediate calculations to one decimal place) A) $1,500.00 B) $437.50 C) $375.00 D) $350.00
based on the attached numbers calculate the following - please show me the calculations of how you got What is the total amount of product cost listed above? Show your work. What is the total amount of period cost listed above? Show your work
The following data relates to the operations of company A; direct material cost per unit- ghc5, direct labour cost/unit- ghc20 @ ghc2/hour, indirect production expense is made up of- depreciation- 50000, indirect material- ghc30000, and indirect labour- ghc20000. The company plans to produce 5000units and absorb overhead based on direct labour hours. What is the cost per unit? A. Ghc45 B. Ghc40 C. Ghc35 D. Ghc30 Reset Selection