hello teacher please help me Manchester Foundry produced 45,000 tonsof steel in March at a cost of Pound1,150,000. In April, the foundry produced35,000 tons at a cost of Pound 950,000.Using only these two data points,determine the cost function forManchester.

Step 1: Definition of High-Low MethodThe High-Low Method is a technique used in cost accounting to…

Answered: Manchester Foundry produced 45,000 tons…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

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Problem 7EB: Rocks Industries has two products. They manufactured 12,539 units of product A and 8.254 units of...

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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?
If you give me wrong answer, I will give you unhelpful rate
Bramble Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 3.0 pounds at $4.50 per pound Direct labor per unit: 8.6 hours at $15.00 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $22.50 per direct labor hour Compute the standard cost of one unit of product I-Tal. (Round answer to 2 decimal places, e.g. 2.75.) Standard cost $ I Per Unit
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[The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (6 pounds @ $5 per pound) Direct labor (2 hours @ $17 per hour) Overhead (2 hours @ $18.50 per hour) Standard cost per unit The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs. Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs Indirect materials Indirect labor Power Maintenance $ 45,000 180,000 45,000 90,000 360,000 Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries…
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Sheddon Industries produces two products. The products' identified costs are as follows: Product A Product B Direct materials $20,000 $15,000 Direct labor $12,000 $24,000 The company's overhead costs of $108,000 are allocated based on direct labor cost. Assume 4,000 units of product A and 5,000 units of Product B are produced. What is the cost per unit for product B? (Do not round your intermediate calculations.)
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Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Direct materials: Standard: 1.90 feet at $4.00 per foot Actual: 1.85 feet at $4.40 per foot Direct labor: Standard: 1.10 hour at $16.00 per hour Actual: 1.15 hour at $15.40 per hour Variable overhead: Standard: 1.10 hour at $9.00 per hour Actual: 1.15 hour at $8.60 per hour Total cost per unit Excess of actual cost over standard cost per unit Standard Cost per Unit $ 7.60 Actual Cost per Unit 17.60 $ 8.14 9.90 17.71 9.89 $ 35.10 $ 35.74 $ 0.64 The production superintendent was pleased when he saw this report and commented: "This $0.64 excess cost is well within the 4 percent limit management has set for acceptable variances. It's obvious there's not much to worry about with this product." Actual production for the month was 17,500 units. Variable overhead cost is assigned to products based on direct labor-hours. There were no beginning…

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Manchester Foundry produced 45,000 tons of steel in March at a cost of Pound 1,150,000. In April, the foundry produced 35,000 tons at a cost of Pound 950,000. Using only these two data points, determine the cost function for Manchester.