Accounting answer me Merger Manufacturing uses direct labor cost as theallocation base for applying MOH to WIP. Thebudgeted direct labor cost for the year$1,000,000. The budgeted manufacturing overheadwas $800,000. The actual direct labor cost for the yearwas $1,100,000. The actual manufacturing overheadwas $825,000.A. What was Merger's predetermined manufacturingoverhead rate per direct labor dollars?B. How much MOH was applied to WIP during the year?

Step 1: Definition of Manufacturing Overhead (MOH) RateThe predetermined manufacturing overhead rate…

Answered: Merger Manufacturing uses direct labor…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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Mackenzie Consulting computes the cost of each consulting engagement by adding a portion of the firm wide overhead costs to the labor cost of the consultants on the engagement. The overhead costs are assigned to each consulting engagement using a cost driver rate based on consultant labor costs. Mackenzie Consulting’s overhead costs are $5 million per year, and total consultant labor cost is estimated at $2.5 million per year. Required (a) What is Mackenzie Consulting’s cost driver rate? (b) If the consultant labor cost on an engagement is $25,000, what cost will Mackenzie Consulting compute as the total cost of the consulting engagement?
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Joint products A and B emerge from common processing that costs $80,000 and yields 5,000 units of Product A and 4,000 units of Product B. Product A can be sold for $100 per unit. Product B can be sold for $80 per unit. What amount of the joint costs will be assigned to Product A if joint costs are allocated on the basis of the number of units produced? A. $48,780 B. $35,556 C. $44,444 D. $31,220
Spin Cycle Architecture uses three activity pools to apply overhead to its projects. Each activity has a cost driver used to allocate the overhead costs to the projects. The activities and related overhead costs are as follows: initial concept formation $40,000, design $300,000, and construction oversight $100,000. The cost drivers and expected use are as follows.Expected Use of Cost Drivers Activities Cost Drivers per ActivityInitial concept formation Number of project changes 20 Design Squarefeet 150,000 Construction oversight Number of months 100(a) Compute the predetermined overhead rate for each activity. (b) Classify each of these activities as unit-level, batch-level, product-level, or facility-level.
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Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $175,000: After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M $ 18, 200 N T 14,600 3,200 Product 15,500 9,500 10,500 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round intermediate calculations. Enter your final answers in whole dollars.) M N T $ 215,000 195,000 36,000 Allocated Joint Cost
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Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $120,000. After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M $ 10,000 N T Product M 10,000 4,000 5,000 N T Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round intermediate calculations. Enter your final answers in whole dollars.) 10,000 5,000 Allocated Joint Cost $ 160,000 140,000 25,000
Required: 1. Using the five most expensive activities, calculate the overhead cost assigned to each prod-uct. Assume that the costs of the other activities are assigned in proportion to the cost of the five activities.2. Calculate the error relative to the fully specified ABC product cost and comment on the outcome.3. What if activities 1, 2, 5, and 8 each had a cost of $650,000 and the remaining activities hada cost of $50,000? Calculate the cost assigned to Wafer A by a fully specified ABC systemand then by an approximately relevant ABC approach. Comment on the implications forthe approximately relevant approach.
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