Nonfinancial measures of quality and time. For the past two years, Worldwide Cell Phones (WCP) has been working to improve the quality of its phones. Data for 2016 and 2017 follows (in thousands of phones): 2016 2,500 125 190 150 13 days 28 days 2017 Cell phones produced and shipped Number of defective units shipped Number of customer complaints Units reworked before shipping Manufacturing cycle time Average customer-response time 10,000 400 250 700 14 days 26 days

Nonfinancial measures of quality and time. For the past two years, Worldwide Cell Phones (WCP) has been working to improve the quality of its phones. Data for 2016 and 2017 follows (in thousands of phones): 2016 2,500 125 190 150 13 days 28 days 2017 Cell phones produced and shipped Number of defective units shipped Number of customer complaints Units reworked before shipping Manufacturing cycle time Average customer-response time 10,000 400 250 700 14 days 26 days

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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Cavy Company estimates that the factory overhead for the following year will be $2,034,500. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 31,300 hours. The machine hours for the month of April for all of the jobs were 2,830. If the actual factory overhead for April totaled $180,455, determine the over- or underapplied amount for the month. Enter the amount as a positive number.
Lakeside Company estimated manufacturing overhead costs for 2014 at $390,000, based on 160,000 estimated direct labor hours. Actual direct labor hours for 2014 totaled 195,000. The manufacturing overhead account contains debit entries totaling $391,500. The manufacturing overhead for 2014 was: (Round your intermediate calculations to one decimal place)
Prepare a schedule of cost of goods manufactured for the year ended June 30, 2021, clearly showingtotal manufacturing cost & total manufacturing costs to account for.
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Assume you made the following two predictions for 2022 for one of your production facilities: Total manufacturing overhead for the year $15,000,000Total direct labor hours for the year 800,000 Actual results for July 2022 were as follows: Manufacturing overhead $1,238,500Direct labor hours 98,500 Calculate the predetermine overhead rate per direct labor hour for 2022.
Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixed Cost Estimated Variable Cost(per unit sold) Production costs: Direct materials $26 Direct labor 17 Factory overhead $114,300 13 Selling expenses: Sales salaries and commissions 23,700 6 Advertising 8,000 Travel 1,800 Miscellaneous selling expense 2,000 5 Administrative expenses: Office and officers' salaries 23,200 Supplies 2,900 2 Miscellaneous administrative expense 2,660 3 Total $178,560 $72 It is…
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Al Sur Manufacturing LLC has furnished the following information for the month of January 2020: Materials used is RO 10,000, Direct labor is RO 20,000, Labor hours worked is 3,000, Hours of machine operation is 2000 and Overhead cost is RO 5000.The department during the period has executed an order. The relevant information is as follows: Materials used is RO 5,000, Direct labor is RO 3000, Labor hours worked is 500 and Hours of machines operation is 300. Calculate the overhead chargeable to the job based on percentage of direct labor cost. a. RO 750 b. RO 835 c. RO 2,500 d. RO 900
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