7 Exercise 4-3 (Algo) Compute ABC Product Costs [LO4-3]Larner Corporation is a diversified manufacturer of Industrial goods. The company's activity-based costingsystem contains the following six activity cost pools and activity rates:Activity Cost PoolLabor-relatedMachine-relatedMachine setupsProduction ordersShipments$ 120.00 per shipmentGeneral factory$6.00 per direct labor-hourCost and activity data have been supplied for the following products:Direct labor-hoursActivity Rates$5.00 per direct labor-hour$6.00 per machine-hourDirect materials cost per unitDirect labor cost per unitNumber of units produced per yearMachine-hoursMachine setupsProduction ordersShipments$ 40.00 per setup$100.00 per orderUnit product costTotal ExpectedActivityJ783781,3002,200576B524830222Required:Compute the unit product cost of each product listed above. (Do not round Intermediate calculations.Round your answers to 2 decimal places.)B52378$ 6.00$ 5.001,000B52$26.00$6.00100

Product cost is the amount of cost incurred on the making of the goods. It includes the cost of…

Larner Corporation is a diversified manufacturer of Industrial goods. The company's activity-based costing system contains the following six activity cost pools and activity rates: Activity Cost Pool Labor-related Machine-related Activity Rates $5.00 per direct labor-hour Machine setups $6.00 per machine-hour $ 40.00 per setup $100.00 per order Production orders Shipments $120.00 per shipment General factory $ 6.00 per direct labor-hour Cost and activity data have been supplied for the following products: Direct materials cost per unit Direct labor cost per unit Number of units produced per year Direct labor-hours Machine-hours Machine setups Production orders Shipments Unit product cost Total Expected Activity J78 378 1,300 2,200 5 7 852 B52 40 30 2 2 2 Required: Compute the unit product cost of each product listed above. (Do not round Intermediate calculations. Round your answers to 2 decimal places.) 378 $ 6.00 $ 5.00 1,000 B52 $ 26.00 $6.00 100

Larner Corporation is a diversified manufacturer of Industrial goods. The company's activity-based costing system contains the following six activity cost pools and activity rates: Activity Cost Pool Labor-related Machine-related Activity Rates $5.00 per direct labor-hour Machine setups $6.00 per machine-hour $ 40.00 per setup $100.00 per order Production orders Shipments $120.00 per shipment General factory $ 6.00 per direct labor-hour Cost and activity data have been supplied for the following products: Direct materials cost per unit Direct labor cost per unit Number of units produced per year Direct labor-hours Machine-hours Machine setups Production orders Shipments Unit product cost Total Expected Activity J78 378 1,300 2,200 5 7 852 B52 40 30 2 2 2 Required: Compute the unit product cost of each product listed above. (Do not round Intermediate calculations. Round your answers to 2 decimal places.) 378 $ 6.00 $ 5.00 1,000 B52 $ 26.00 $6.00 100

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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