The following data pertain to activity and costs for two recent months: Assuming that these activity levels are within the relevant range, the mixed costs for November were: October NovemberActivity level in unitsVariable costs.5,00010,000$10,000?Fixed costs...30,000Mixed costsTotal costs20,000?$60,000$75,000

Activity-based costing is used to allocate the overhead expenses on the basis of different…

Answered: October November Activity level in…

October November Activity level in units. Variable costs. 5,000 10,000 $10,000 Fixed costs... Mixed costs Total costs 30,000 20,000 ? $60,000 $75,000 ......

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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manufacturer of industrial equipment has a standard costing system based on standard direct labor-hours (DLHs) as the measure of activity. Data from the company's flexible budget for manufacturin overhead are given below: Level of activity Overhead costs at the denominator activity level: Variable overhead cost Fixed overhead cost The following data pertain to operations for the most recent period: Actual hours Standard hours allowed for the actual output Actual total variable manufacturing overhead cost Actual total fixed manufacturing overhead cost 2,550 DLHs $ 8,600 $ 35,125 2,700 DLHs 2,597 DLHs $ 9,200 $ 35,525 How much overhead was applied to products during the period to the nearest dollar? Note: Do not round Intermediate calculations. Multiple Cholce $44.125 $43.725 $44.725 $44.531 $44.725
The demand for aloe vera hand lotion, one of numerous products manufactured by Smooth Skin Care Products Inc., has dropped sharply because of recent competition from a similar product. The company's chemists are currently completing tests of various new formulas, and it is anticipated that the manufacture of a superior product can be started on December 1, one month in the future. No changes will be needed in the present production facilities to manufacture the new product because only the mixture of the various materials will be changed. The controller has been asked by the president of the company for advice on whether to continue production during November or to suspend the manufacture of aloe vera hand lotion until December 1. The controller has assembled the following pertinent data: Smooth Skin Care Products Inc. Income Statement - Aloe Vera Hand Lotion For the Month Ended January 31 Financial Categories Sales (400,000) Cost of goods sold Gross profit Selling and admin expenses…
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A department of Delta Company incurred the following costs for the month of June. Variable costs, and the variable portion of mixed costs, are a function of the number of units of activity: Activity level in units Variable costs Fixed costs Mixed costs Total costs During July, the activity level was 9,000 units, and the total costs incurred were $69,000. Required: a. Calculate the variable costs, fixed costs, and mixed costs incurred during July. b. Use the high-low method to calculate the cost formula for mixed cost. Complete this question by entering your answers in the tabs below. Required A Required B 4,500 $ 8,100 30,000 20,800 $ 58,900 Calculate the variable costs, fixed costs, and mixed costs incurred during July. Variable cost Fixed cost Mixed cost July
Use this information to answer the question that follow.The following data relate to direct materials costs for February:Materials cost per yard: standard, $1.96; actual, $2.03Standard yards per unit: standard, 4.73 yards; actual, 5.21 yardsUnits of production: 9,100Calculate the direct materials price variance.
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The following data have been assembled for December: The standard hours allowed for December's production is:
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