Midiul acturing overneau1,400,00$1,000,000$1,110,000Direct labor costs$1,860,000$1,550,000$558,000Direct labor hours124,000155,00049,600Machine hours496,000620,000148,800The following information pertains to January 2022 for each manufacturing department.DepartmentEKDirect materials used$173,600$156,240 $94.720Direct labor costs$148,800$136,400 $46,500Manufacturing overhead incurred$122,760$153,760 $97,960Direct labor hours9,92013,6404,340Machine hours42,16055,80012,896.

3. **Direct Labor Costs**: This refers to the cost of labor directly involved in the manufacturing…

Answered: Midiul acturing overneau 1,400,00…

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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Ivanhoe Company has several processing departments. Costs to be accounted for in the Assembly Department for November 2025 totaled $2,297,376 as follows. Work in process, November 1 Materials $79,100 Conversion costs 48,800 $127,900 Direct materials added during November 1,601,380 226,000 Direct labor incurred during November Manufacturing overhead assigned during November 342.096 $2,297,376 Production records show that 35,400 units were in beginning work in process 30% complete as to conversion costs, 664,800 units were started into production, and 24,600 units were in ending work in process 40% complete as to conversion costs. Materials are added at the beginning of each process, and conversion costs are incurred uniformly throughout the process. (a) Determine the equivalent units of production and the unit production costs for the Assembly Department. (Round unit costs to 2 decimal places, e.g. 2.25.) SUPPO
GROUPER COMPANY Molding Department Production Cost Report For the Month Ended May 31, 2022 Equivalent Units of Production Physical QUANTITIES Units Materials Units to be accounted for Work in process, May 1 7,360 Started into production 29,440 Total units to be accounted for 36,800 Units accounted for Completed and transferred out 32,200 Work in process, May 31 4,600 Total units accounted for 36,800 COSTS Unit costs Costs in May Materials $128,800 Conversion Costs Conversion Costs $148,580 Total $277,380
Channing corporation makes two products (A1 and B2) that require direct materials, direct labor, and overhead. The following data refer to operations expected for next month. A1 B2 Total Revenue $280,000 $840,000 $1,120,000 Direct material 120,000 240,000 360,000 Direct labor 76,000 180,000 256,500 Overhead: Direct material related 118,800 Direct labor related 112,860…
Department Personnel Custodial Services Maintenance Printing Binding Personnel Custodial Services Maintenance Printing Binding Total budgeted cost Total Labor- Square Feet of Space Occupied Printing Department Binding Department Total hours Hours 16,000 8,200 14,300 30,600 108,000 177,100 Budgeted overhead costs in each department for the current year are shown below: $ 300,000 66,000 93,400 Req 1 Req 2 12,400 3,100 10,500 40,400 20,900 87,300 Machine-Hours 2,400 500 2,900 414,000 170,000 $ 1,043,400 Number of Employees 22 49 69 Req 3A 105 300 545 Because of its simplicity, the company has always used the direct method to allocate service department costs to the two operating departments. Machine- Hours Required: 1. Using the step-down method, allocate the service department costs to the consuming departments. Then compute predetermined overhead rates in the two operating departments. Use machine-hours as the allocation base in the Printing Department and direct labor-hours as the…
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