Per Sweater Selling price Cost to manufacture: 26.00 Raw materials: buttons, thread, lining $ 2.00 $ 12.00 $ 14.00 Wool yarn Total raw materials Direct labor Fixed Mfg. Overhead 6.20 $ 9.30 $ 29.50 Mfg. profit (loss) (3.50) Per Spindle of Yarn Selling price Cost to manufacture: Raw materials (wool) Direct labor Fixed Mfg. Overhead Mfg. profit (loss) 16.00 $ 6.00 $ 2.40 $ 3.60 $ 12.00 4.00 Mfg. OH is assigned to products based on 150% of direct labor cost. Materials and direct labor costs are variable. %24

Per Sweater Selling price Cost to manufacture: 26.00 Raw materials: buttons, thread, lining $ 2.00 $ 12.00 $ 14.00 Wool yarn Total raw materials Direct labor Fixed Mfg. Overhead 6.20 $ 9.30 $ 29.50 Mfg. profit (loss) (3.50) Per Spindle of Yarn Selling price Cost to manufacture: Raw materials (wool) Direct labor Fixed Mfg. Overhead Mfg. profit (loss) 16.00 $ 6.00 $ 2.40 $ 3.60 $ 12.00 4.00 Mfg. OH is assigned to products based on 150% of direct labor cost. Materials and direct labor costs are variable. %24

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

In a half page, What are stock out costs and capacity associated costs? What is their relationship to inventories?
Birdie Limited is a manufacturing company producing a variety of golf clubs. It operates from one factory that is geographically separated from its head office. The components for the clubs are assembled in the assembling department; they are then passed through to the finishing department where they are painted and packed. There are three service cost centres: administration, stores, and manufacturing support. The following costs were collected for the year to 31 May 2021: ETT Department Number of Allocated cost centre overhead costs (£,000) 225 employees 67 Assembling Finishing Administration 60 134 84 300 89 Stores 17 Manufacturing support 120 34 Additional information: The allocated cost centre overhead costs are all considered to be indirect costs as far as specific units are concerned. During the year to 31 May 2021, 208,000 machine hours were worked in the assembling department, and 270,000 direct labour hours in the finishing department. During the year to 31 May 2021, the…
Return on Investment, Margin, Turnover Data follow for the Consumer Products Division of Kisler Inc.: Year 1 Year 2 Sales $9,210,000 $7,920,000 Operating income 517,602 306,504 Average operating assets 18,058,824 17,600,000 Required: 1. Compute the margin (as a percent) and turnover ratios for each year. Round your answers to two decimal places. Year 1 Year 2 Margin % % Turnover 2. Compute the ROI for the Construction Division for each year. Note: Enter percentage to two decimal places. ROI year 1 % ROI year 2 %
Selecting a Basis for Predicting Shipping Expenses (Requires Computer Spreadsheet*) Cambridge SoundWorks sell portable speakers systems and bluetooth headphones. In an effort to improve the planning and control of shipping expenses, management is trying to determine which of three variables-units shipped, weight shipped, or sales value of units shipped- has the closest relationship with shipping expenses. The following information is available: Weight Sales Value of Shipping Month Units Shipped Shipped (lbs.) Units Shipped Expenses May 10,000 7,500 $350,000 $38,000 June 12,000 8,760 July 15,000 9,200 August 20,000 10,500 432,000 42,000 420,000 50,100 400,000 72,500 September 12,000 7,600 300,000 41,000 October 8,000 6,000 320,000 35,600 Required a. With the aid of a spreadsheet program, determine whether units shipped, weight shipped, or sales value of units shipped has the closest relationship with shipping expenses. Complete the r-squared values between each possible independent…
Assume a jeweler paid $1,000 for a watch and sold it for $4,000. What would be his markup based on cost? Show calculations. What would be his markup based on selling price? Show calculations.
How to compute the (a) cost of products transferred from weaving to sewing, (b) cost of products transferred from sewing to finished goods, and (c) cost of goods sold.
H6. Show All step by step calculation
Which analysis involves a comparison of the cost of operating additional robotic tailors with additional revenues generated by increased product sales?
Complete the requirements <><>
Need help
As a Chief financial officer (CFO) recommend three actions you could take regarding the company's supply chain to reduce manufacturing cost of direct materials? Which of the three would be your priority and why?
How does an income statement and balance sheet for a manufacturing company and a merchandising company differ?