Operation costing. The Carter Furniture Company needs to determine the cost of two work orders for December 2017. Work Order 1200A is for 250 painted, unassembled chests and Work Order 1250A is for 400 stained, assembled chests. The following information pertains to these two work orders: Work Order 1200A 250 Work Order 1250A Number of chests Operations 1. Cutting 2. Painting 3. Staining 4. Assembling 6. Packaging 400 Use Use Use Do not use Do not use Use Do not use Use Use Use Selected budget information for December follows: Unassembled Chests Assembled Chests Total 1,500 $180,000 Chests 2,300 $232,000 800 $52,000 Direct materials costs Budgeted conversion costs for each operation for December follow: Cutting Painting Staining Assembling Packaging $41,400 6,400 24,000 33,000 11,500

Operation costing. The Carter Furniture Company needs to determine the cost of two work orders for December 2017. Work Order 1200A is for 250 painted, unassembled chests and Work Order 1250A is for 400 stained, assembled chests. The following information pertains to these two work orders: Work Order 1200A 250 Work Order 1250A Number of chests Operations 1. Cutting 2. Painting 3. Staining 4. Assembling 6. Packaging 400 Use Use Use Do not use Do not use Use Do not use Use Use Use Selected budget information for December follows: Unassembled Chests Assembled Chests Total 1,500 $180,000 Chests 2,300 $232,000 800 $52,000 Direct materials costs Budgeted conversion costs for each operation for December follow: Cutting Painting Staining Assembling Packaging $41,400 6,400 24,000 33,000 11,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The following costs have been identified in relation to the production of a product except : Production Cost Design cost Direct cost End of life disposal cost
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
For the weighted average method of process costing, the: total cost of completed units equals the total cost of ending work in process. unit cost of materials equals the unit cost for conversion costs. equivalent units for conversion costs are higher than the equivalent units for materials. flow of physical units produces the same results as the computations for equivalent units. None of the above is true.
Cassien Inc. manufactures products that pass through two or more processes. During June, equivalent units were computed using the weighted average method: Units completed Units in EWIP X Fraction complete (36,000 X 60%) Equivalent units of output June's costs to account for are as follows: BWIP (10,000 units, 80% complete) Materials Conversion costs Total Required: 91,000 21,600 112,600 $50,000 156,000 95,000 $301,000 1. Calculate the unit cost for June using the weighted average method. Round your answer to the nearest cent.
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate compl 2. Compute the contribution margin per unit. [assume direct labor is a fixed cost] 3. Compute the contribution margin per welding hour. [assume direct labor is a fixed cost] 4. Assuming direct labor is a fixed cost: a. Determine the number of WVD drums (if any) that should be purchased and the number of WVD drums and/or bike frames (if any) that should be manufactured. b. What is the increase (decrease) in net operating income that would result from this plan over current operations? 5. Compute the contribution margin per unit. [assume direct labor is a variable cost] 6. Compute the contribution margin per welding hour. [assume direct labor is a variable cost] 7. Assuming direct labor is a variable cost: a. Determine the number of WVD drums (if any) that should be purchased and the number of WVD drums and/or bike frames (if any) that should be manufactured. b.…
Lamont Company produced 80,000 machine parts for diesel engines. There were no beginning or ending work-in-process inventories in any department. Lamont incurred the following costs for May: Direct materials Direct labor Applied overhead Molding Department $12,000 10,000 17,000 Grinding Department $5,300 8,800 14,000 Finishing Department $8,000 12,000 12,000
Which of the following cost and cost allocation base have a stronger cause and effect relationship? A) administration costs and cubic feet B) setup costs and square feet C) quality control costs and the number of inspections D) machine maintenance and setup hours
The following data have been extracted from the records of Puzzle Incorporated: Production level, in units Variable costs Fixed costs Mixed costs Total costs Required A Required B Required: a. Calculate the missing costs. b. Calculate the cost formula for mixed cost using the high-low method. c. Calculate the total cost that would be incurred for the production of 12,880 units. d. Identify the two key cost behavior assumptions made in the calculation of your answer to part c. Required C Production level, in units Variable costs Fixed costs Mixed costs Total costs Complete this question by entering your answers in the tabs below. Calculate the missing costs. Note: Do not round intermediate calculations. February 9,200 $ 19,320 ? 16,312 $ 71,532 February 9,200 $ 19,320 $ 2 X 16,312 $ 71,532 Required D August August 20, 240 $? 35,900 ? $ 106,970 Answer is not complete. 20,240 34,255 35,900 52,475 $ 106,970
Use the activity rate and usage information to determine the total activity cost and activity cost per unit for each product. If required, round the per unit answers to the nearest cent. Total Activity Cost Activity Cost Per Unit 66,810 ✓ 37,403 X 220.50 X 184.25 ✓ Elliptical machines Treadmill $