Montana Company produces basketballs. It incurred the following costs during the year. Direct materials Direct labor Fixed manufacturing overhead Selling costs $14,076 $25,693 $9,948 Variable manufacturing overhead $32,282 $21,315 What are the total product costs for the company under variable costing?
Q: A printer cost $95,000 when new and has an accumulated depreciation of $70,000. If the business…
A: Explanation of Original CostThe Original Cost of an asset is the total amount paid at the time of…
Q: Financial accounting questions
A: Step 1: Define Gain on SaleIf a firm sells its asset over its carrying amount, it is known as a gain…
Q: Answer me this financial accounting question
A: Explanation of Standard Direct Labor Cost:Standard direct labor cost refers to the expected cost of…
Q: Sales & COGS = 2,358,000 & 1,149,320
A: Explanation of Sales Revenue:This represents the total amount of money generated from selling goods…
Q: Provide correct answer general Accounting
A: Step 1: Define Initial OutflowInitial outflow refers to the total expenses incurred by a company to…
Q: Please provide this question solution general accounting
A: Step 1: Identify Puffin's net income from its own operations.Step 2: Identify Sunset Coast's…
Q: Kindly help me with accounting questions
A: Step 1:The earnings per share is calculated as follows: Earnings per share = Net income / Number of…
Q: Please see the attachment for details
A: Explanation of Credit Sales: Credit sales occur when a business allows customers to purchase goods…
Q: Financial accounting questions
A: Step 1: Calculate Interest• Interest = Principal × Rate × TimeStep 2: Calculate Total Cash to be…
Q: Please provide this question solution general accounting
A: Step 1: Define Calculating Selling PricesIn a merchandising company, the selling prices of its…
Q: Riverside manufacturing has a contribution margin ratio solve this accounting questions
A: Step 1: Definition of Operating ProfitOperating profit refers to the profit a company generates from…
Q: 4 points general accounting
A: Explanation of Resource Attribution Mapping: This is a systematic process of identifying and…
Q: Don't use ai given answer accounting questions
A: To calculate the Total Direct Labor Cost Variance, we use the following formula: Total Direct Labor…
Q: The tenis shop sells premium tenis rackets solution general accounting question
A: To determine the amount of sales to consider when evaluating the addition of the mid-range rackets,…
Q: In September, one of the processing departments at Shenkel corporation had a beginning…
A: Explanation of Beginning Work-in-Process Inventory: Beginning work-in-process (WIP) inventory…
Q: Need help with this accounting questions
A: To calculate Maxwell Inc.'s total stockholders' equity, we use the accounting equation: Assets =…
Q: This is general account questions
A: Step 1: Understanding the Retail Inventory MethodThe Retail Inventory Method estimates the cost of…
Q: Harvest supplies inc. Provides the following financial data:
A: Step 1: Given Value for Calculation Credit Sales = $600,000Cash Sales = $300,000Cost of Goods Sold =…
Q: Chipa Corp. started the year with total assets of $303,000 and total liabilities of $243,000. During…
A: Explanation of Total Assets: This represents everything of value that a company owns or has a claim…
Q: Bal Engineering has $60,000 in assets.
A: Hello student! The extend accounting equation expounds on the equity section of our basic accounting…
Q: Roberts Corp., which began business at the start of the current year, had the following data:…
A: Approach to solving the question: To solve for the contribution margin we will do this Step 1:…
Q: In preparation for developing its statement of cash flows for the year ended December 31, 2024,…
A: To determine the net cash inflows (or outflows) from investing activities, we need to identify…
Q: What is the gross profit ratio on these general accounting question?
A: Step 1:Gross profit ratio is calculated to show the relationship between the revenue from operations…
Q: Want help
A: Detailed explanation:Sustainability impact measurement requires special approaches because…
Q: The balance in the office supplies account on June 1 was $5,200, supplies purchased during June were…
A: To determine the amount to be used for the adjusting entry, follow these steps: Determine the total…
Q: Explore the concept of accounting flexibility and its impact on the reliability and usefulness of…
A: Key DefinitionsAccounting Flexibility: The degree of discretion and choice available to…
Q: Bal Engineering has $60,000 in assets. They also have $25,000 in liabilities and $5,000 in expenses,…
A: Explanation of Assets: Assets represent everything of value that a company owns or controls which…
Q: The molding department of premier solve this accounting questions
A: Calculation of Total Equivalent Units for Direct Materials To determine the total equivalent units…
Q: I don't need ai answer general accounting question
A: To calculate the capital gain or loss, we determine the current value of the bond based on the given…
Q: Gemini Store has operated with a 30% average gross profit ratio for a number of years. It had…
A: To estimate the ending inventory using the gross profit method, we can follow these steps: Calculate…
Q: Financial Accounting
A: Step 1: Define Payback PeriodThe period or overall time that the investment will take to recoup the…
Q: answer
A: Explanation of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured represents the total cost…
Q: Alanood Company wants to prepare interim financial statements for the first quarter of 2020 but…
A: To estimate the company's March 31 inventory using the Gross Profit Method, follow these steps: Step…
Q: What is the net operating income on these general accounting question?
A: Option a: This option is incorrect because this is only the contribution margin and not the net…
Q: Blue sky industries stock was trading solution general accounting question
A: The Price-to-Earnings (P/E) Ratio is calculated using the formula: P/E Ratio = Market Price per…
Q: K&I Corp. has current liabilities of $445,000, a quick ratio of 0.82, an inventory turnover of…
A: Explanation of Quick RatioThe quick ratio measures a company's ability to meet its short-term…
Q: Not use ai solution please given answer
A: Step 1: Define Gross Profit MarginThe gross margin and gross margin percentage are important…
Q: solve this general account questions
A: Step 1: Key InformationVariable Costs Per Unit (Production):Direct Materials: $32Direct Labor:…
Q: Need general account answer
A: FOB Shipping Point: Under this term, ownership of the merchandise transfers to the buyer as soon as…
Q: I need answer of this accounting questions solution
A: Note:1. Research Costs: Research costs are generally expensed as incurred and not capitalized as…
Q: ABC Inc's January 1 goods in process inventory contained 30,000 units that were one-fourth complete…
A: Step 1: Understand the problem and the dataThe following information is provided:Beginning…
Q: Findout solution for this general account query.
A: 1. Prepare the Income Statement in Contribution Format Using Variable CostingUnder variable costing,…
Q: Do fast answer of this question solution general accounting
A: 1. Determine the Depreciable Cost:Depreciable Cost = Cost of the Equipment - Residual…
Q: Please provide this question solution general accounting
A: To answer your question, let's break it down step by step. 1. What is the PEG ratio? The PEG ratio…
Q: Subject. General Account
A: a) Interest charges on debt is very minimal:This is not necessarily true. The interest rates depend…
Q: Hii expert please provide correct answer general Accounting
A: Explanation of Turnover: Turnover (also called asset turnover) measures how efficiently a company…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Materials Price Variance and Materials Usage VarianceMaterials Price Variance…
Q: I won't to this question answer general Accounting
A: Step 1: Define Interest RevenueInterest revenue is the income earned by lending money or extending…
Q: Which is correct?
A: Explanation of Off-Market Swaps: These are derivative contracts where the terms are set at rates…
Q: I won't to this question answer financial accounting
A: To determine the total manufacturing costs incurred during the fiscal year 2018, we can use the…
I won't to this question answer general Accounting
Step by step
Solved in 2 steps
- The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its total annual overhead costs can be represented by the following formula: Overhead cost = 543,000 + 1.34X, where X equals number of smokers. Last year, SmokeCity produced 20,000 smokers. Actual overhead costs for the year were as expected. Required: 1. What is the driver for the overhead activity? 2. What is the total overhead cost incurred by SmokeCity last year? 3. What is the total fixed overhead cost incurred by SmokeCity last year? 4. What is the total variable overhead cost incurred by SmokeCity last year? 5. What is the overhead cost per unit produced? 6. What is the fixed overhead cost per unit? 7. What is the variable overhead cost per unit? 8. Recalculate Requirements 5, 6, and 7 for the following levels of production: (a) 19,500 units and (b) 21,600 units. (Round your answers to the nearest cent.) Explain this outcome.Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. 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, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
- Natur-Gro, Inc., manufactures composters. Based on past experience, Natur-Gro has found that its total annual overhead costs can be represented by the following formula: Overhead cost = 264,000 + 1.42X, where X equals number of composters. Last year, Natur-Gro produced 30,000 composters. Actual overhead costs for the year were as expected. Total overhead for per unit was a. 1.42 b. 8.80 c. 11.63 d. 10.22The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?Calgary Manufacturing company makes chairs and desks. The following costs were incurred in making its products during its first year of operation. Chairs Desks TotalDirect Materials $ 7,000 $9,000 $16,000Direct Labor 15,000 11,000 26,000 Also the company incurred $19,760 of employee benefits cost. Since these overhead costs are driven by the use of labor they are allocated to the products based on the direct labor dollars. Based on this information alone the total cost of making chairs is Note: Do not round intermediate calculation
- Pink Company incurred the following costs during the month: direct labor, P120,000; factory overhead, P108,000, and direct materials purchases, P160,000 inventories show the following costs: Beginning Ending Finished goods P27,000 P30,000 Work in process P61,500 P57,500 Direct materials P37,500 P 43,500 How much is the cost of goods manufactured?ABC Company accumulated the following cost information for the year: Salesperson salaries Indirect materials Indirect labor Factory depreciation Direct labor Multiple Choice Using the above information, what are the total factory overhead costs? O $12,900. $78,800. $53,200. $ 16,100 4,100 8,600 $17,000. 12,900 37,100Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $252,000 and direct labor hours to be 20,000. Actual overhead and actual direct labor hours for the year were $265,000 and 22,200 hours, respectively. Required: 1. Compute over- or underapplied overhead. 2a. Which accounts will be affected by the over- or underapplied manufacturing overhead? 2b. Will the accounts be increased or decreased to adjust for the over- or underapplied manufacturing overhead? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Compute over- or underapplied overhead. Note: Do not round your intermediate calculations. Manufacturing overhead 89 Req 2B SEP 17 Req 1 Next > NT A O P
- Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $252,000 and direct labor hours to be 20,000. Actual overhead and actual direct labor hours for the year were $265,000 and 22,200 hours, respectively. Required: 1. Compute over- or underapplied overhead. 2a. Which accounts will be affected by the over- or underapplied manufacturing overhead? 2b. Will the accounts be increased or decreased to adjust for the over- or underapplied manufacturing overhead? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Compute over- or underapplied overhead. Note: Do not round your intermediate calculations. Manufacturing overhead SEP Next > ST AONeed help with this questionK Rios Corporation reports costs for the year as follows: Direct Materials Used Wages to Line Workers Office Rent Indirect Materials Used How much is the total product costs for the year? A. $605,000 OB. $1,155,000 OC. $550,000 OD. $1,199,500 $430,000 120,000 44,500 605,000
