Michael & Company expects overhead costs of $25,000 per month and direct production costs of $22 per unit. The estimated production activity for the current accounting period is as follows: Units produced The predetermined overhead rate based on units produced is: Note: Round your answer to the nearest penny Multiple Choice $0.50 per unit. $2.00 per unit. $28.00 per unit. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12,500 19,850 8,900 8,750 $6.00 per unit.

Michael & Company expects overhead costs of $25,000 per month and direct production costs of $22 per unit. The estimated production activity for the current accounting period is as follows: Units produced The predetermined overhead rate based on units produced is: Note: Round your answer to the nearest penny Multiple Choice $0.50 per unit. $2.00 per unit. $28.00 per unit. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12,500 19,850 8,900 8,750 $6.00 per unit.

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

Apex Corporation estimates that its production for the coming year will be 10,000 units with the following unit costs: Direct materials P40 Direct labor P60 Direct labor is paid at the rate of P24 per hour. The machine should be run for 20 minutes to produce one unit. Total estimated overhead is expected to consist of P400,000 for variable overhead and P400,000 for fixed overhead. What is the predetermined overhead rate based on direct labor cost? B D 113% 166% 133% 153%
Jason Inc. shows the following manufacturing costs for the first four months of the year. Manufacturing Costs for the First Four Months Months Production in Units Total Costs January 2,500 $33,750 February 1,800 $29,900 March 3,000 $36,500 April 2,600 $34,300 Using the high-low method, determine the variable costs per unit. (Round intermediate calculations and your final answer to two decimal places.) Group of answer choices $14.39 $12.17 $13.50 $5.50
Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to determine Smithson's fixed costs per month. Round your final answer to the nearest dollar. Do not round interim calculations. Cost January $26,800 February 38,500 March 28,200 April 30,800 a. $23,329 Ob. $10,978 Oc. $43,914 Od. $13,723 Machine Hours 9,500 18,000 11,700 15,400 ?
Garrison Manufacturing has the following standard cost sheet for one of its products: direct materials (5m @ $6) $30 Direct labour (1.5 hours @$ 10) 15 variable overhead ( 1 hour @ $7) 7 Fixed overhead (2 hours @ $3) 6 Standard unit cost $58 *Rate based on expected activity of 12,000 hours. During the most recent year, the following actual results were recorded: production 13,000 units fixed overhead $36,000 Variable overhead $60,000 Direct materials (62,500m purchased) $382,500 direct labour (15,900 hours)…
answer in text form please (without image)
The manufacturing costs of Calico Industries for 3 months of the year are as follows: Total Cost Production (units) April $111,100 276,200 May 82,600 163,200 June 106,300 244,600 Using the high-low method, the variable cost per unit and the total fixed costs are Round your intermediate calculations to two decimal places. a.$2.50 per unit and $4,205, respectively b.$4.50 per unit and $4,205, respectively c.$0.25 per unit and $42,050, respectively d.$0.45 per unit and $21,025, respectively
Bernard Company shows the following manufacturing costs for the first six months of the year: Production in Units Total Costs 1,350 $38,636 1,200 $36,000 1,520 $40,436 2,150 2,590 2,600 January February March April May June Using the high-low method, the total fixed costs are A. $14,900 B. $50,900 C. $23,236 D. $27,664 $48,636 $50,780 $50,900 (Round intermediate calculations to two decimal places, and the final calculation to the nearest dollar.)
The manufacturing cost of Mocha Industries for three months of the year are provided below: Total Cost Production April $89,945 2,010 Units May 93,545 2,810 Units June 99,260 4,080 Units (a) Using the high-low method, determine the variable cost per unit. Round your answers to two decimal places. per unit (b) Using the high-low method, determine total fixed costs. %24
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production April $98,908 1,180 Units May 101,540 1,650 June 105,740 2,400 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.$ per unit b. Using the high-low method, determine the total fixed costs.$
The manufacturing cost of Mocha Industries for three months of the year are provided below: Total Cost Production April $52,866 1,860 Units May 55,160 2,600 Units June 58,818 3,780 Units (a) Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places. per unit (b) Using the high-low method, determine total fixed costs.
provide answer for blank
4