8 Olmo, Inc, manufactures and sels two products Product KO and Product H The annual production and sales of Product of KO s 800 units and of Product HB00 units The company has an activity bamed costngsystem with the following activity cost pools, activity measures, and expected activityActivityActivity Cost Pools HeasuresEstimatedExpected ActivityOverhead Cost Product Ke Product 1TotalLabor-relatedDLHS550, 0853,3193,2001,004,001,4005,600Production ordersorders900s00Order sie85,9162,5003,100$ 1,49,54)The overhead appled to each unt of Product H9 under activy based costing is closest to: (Round your intermediene ceuletions to 2 decimel pleces)Muple Choicead ocszes OO SEns per unO s42 pers972 per unt

Cost per unit is calculated by dividing the total cost by the number of units produced.

Ono manfact and ses two products Product KO and Product H The annual production and sales of Product of O00 uunts and of Product 00 uns The comp activity besed coting the folowing actvty cost pools, activty measur and expected acivity Activity Activity Cest Pols eases Estineted Inpected Activity Total Product Product H 1,00 Overhead Cest Laborrelated OL 4,0 Production erders Order sie erders $3,19 835,96 100 1,00 2,500 3,100 5,00 $1,4,) The overhead acpled to each unt of Product Hunder actvity baed coting closest tound your 2 decimal pieces)

Ono manfact and ses two products Product KO and Product H The annual production and sales of Product of O00 uunts and of Product 00 uns The comp activity besed coting the folowing actvty cost pools, activty measur and expected acivity Activity Activity Cest Pols eases Estineted Inpected Activity Total Product Product H 1,00 Overhead Cest Laborrelated OL 4,0 Production erders Order sie erders $3,19 835,96 100 1,00 2,500 3,100 5,00 $1,4,) The overhead acpled to each unt of Product Hunder actvity baed coting closest tound your 2 decimal pieces)

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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Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Direct Labor Amount Date Amount $2,000 Dec 20 $4,000 8,000 Dec 30 3,800 Total Job Cost Sheet - Job No. 501 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800