One of the products manufactured by Cooper Company is a plastic tray. The information below relates to the Tray Production Department: Good units manufactured 200,000 Units started in production 250,000 Processing time (budgeted hours) 425 Processing time (total hours) Value-added processing time 400 300 Refer to Cooper Company. What is the process productivity in the Tray Production Department? Select one: а. 625 b. 588 c. 667 d. 833

One of the products manufactured by Cooper Company is a plastic tray. The information below relates to the Tray Production Department: Good units manufactured 200,000 Units started in production 250,000 Processing time (budgeted hours) 425 Processing time (total hours) Value-added processing time 400 300 Refer to Cooper Company. What is the process productivity in the Tray Production Department? Select one: а. 625 b. 588 c. 667 d. 833

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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! Required information [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Cost per equivalent unit of production Units Total costs + Equivalent units of production (from part 1) Cost per equivalent unit of production 67,000 893,000 770,000 190,000 $ 499,200 88,400 3,340,800 1,679,600 Direct Materials Percent Complete 100% 100% Costs EUP Conversion Percent Complete 80% $ 587,600 2. Compute cost per equivalent unit of production…
Watson's Computer Company uses ABC to account for its manufacturing process. Activities Indirect activitybudget Allocation base (cost driver) Materials handling $55,000 Based on number of parts Machine setup $32,000 Based on number of setups Assembling $9820 Based on number of parts Packaging $15,100 Based on number of finished units Watson's Computer Company expects to produce 2330 computers. Watson's Computer Company also expects to use 11,000 parts and have 10 setups.The allocation rate for materials handling will be (Round all answers to two decimal places.) Question 16 options: $5.00 $6.48 $8.40 $23.61
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The Widget Company produces two types of widgets, Standard and Deluxe. Data related to the two products is presented below. Standard Deluxe Annual production in units 25,000 50,000 Direct material costs $75,000 $150,000 Direct manufacturing labor costs $25,000 $50,000 Direct manufacturing labor-hours 1,250 2,500 Machine hours 12,500 25,000 Number of production runs 25 25 Inspection hours 500 250 Both products pass through Departments A and Department B. The departments’ combined manufacturing overhead costs are: Total Machine Costs $187,500 Setup Costs 60,000 Inspection Costs 52,500 Required: Using Activity Based Costing, Compute the…
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Saved Jefferson, Inc. produces two different products (Product 5 and Product Z) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver. The cost of Machining is $324,000, while the cost of Inspection is $37000. The activity drivers are used as follows: Product 5 Product I Total 5,400 70 Machine hours 3,240 2,160 Number of batches 28 42 What proportion of Inspection activity is used by Product Z? Multiple Cholce 68% 32% 60%
Quillen Company manufactures a product in a factory that has two production departments, Cutting and Sewing, and two support departments, S1 and S2. The activity driver for S1 is number of employees, and the activity driver for S2 is number of maintenance hours. The following data pertain to Quillen: Direct costs Normal activity: Number of employees Maintenance hours Required: 1 2 Support Departments S1 S2 Cutting $180 000 $150 000 $122 000 1 200 Production Departments 30 63 16 000 Sewing $90 500 147 4 000 Calculate the cost assignment ratios to be used under the direct method for Departments S1 and S2. (Note: Each support department will have two ratios - one for Cutting and the other for Sewing.) Allocate the support department costs to the production departments by using the direct method.