Montana Company produces basketballs. It incurred the following costs during the year. Direct materials Direct labor Fixed manufacturing overhead $14,934 $25,125 $10,420 Variable manufacturing overhead $32,254 Selling costs $21,077 What are the total product costs for the company under absorption costing?
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- 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?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?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.
- The 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?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?York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of direct labor. The cost to make job 0325 is $70 in aluminum and two hours of labor at $20 per hour. During the month. York incurs $50 in indirect material cost. $150 in administrative labor, $300 in utilities, and $250 in depreciation expense. What is the predetermined overhead rate if direct labor hours are considered the cost driver? What is the cost of Job 0325? What is the overhead incurred during the month?
- The Rock Company produces basketballs. It incurred the following costs during the year. Direct materials Direct labor Fixed manufacturing overhead Variable manufacturing overhead Selling costs $11,520 $20,480 $9,600 $23,520 $16,800 What are the total product costs for the company under absorption costing? Total product costsPink 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?The following cost data relate to the manufacturing activities of the Kamas Company during the most recent year. Factory overhead costa incurred during the year: P 1,600 2,600 5,100 13.000 2,500 P24,800 Property taxes - factory Utilities - factory Indirect labor Depreciation - factory Insurance - factory Total Actual FOH costs Other costa incurred during the year: Purchases of raw materials Direct labor cost P15,000 Inventoriea: Raw materials, beginning Raw materiala, ending Work-in-process, beginning Work-in -process, ending P5,000 4,400 3,500 4,500 The company uses a predetermined overhead rate to charge overhend cost to production. The rate for the year just completed was P4.00 per machine-hour; a total of 6,000 machine-hours wRre recorded for the year. Compute for the cost of goods manufactured for the vear.
- Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $276,000 and direct labor hours to be 20,000. Actual overhead and actual direct labor hours for the year were $325,000 and 24,600 hours, respectively. Required: 1. Compute over- or underapplied overhead. 20. 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. Manufacturing overhead Req 1 Req 2A Req 28 Which accounts will be affected by the over- or underapplied manufacturing overhead? (Select all that apply.) Cost of Goods Sold Manufacturing Overhead Finished Goods Inventory Selling and Administrative Overhead Marketing and Distribution Overhead Req 1 Req 2A…Please solve all questionsWarren Company applies overhead based on direct labor cost. Warren Company estimated that it would incur $97,000 in manufacturing overhead costs and $63,500 of direct labor costs during the current year. Actual manufacturing overhead cost totaled $82,000 and actual direct labor costs totaled $62,000 during the current year. If total manufacturing costs were $167,000, what amount of direct materials was used during the year? Multiple Choice $11,500 $23,000 $8,000 None of these answers are correct.
