ProcessAssemblyFinishingSupportActivityMachiningSetupsBudgeted Cost$311,800Activity Cost DriverActivityUsageMachine hours (MH)7,60024,000$335,800Setups240InspectingPurchasing$ 224,000Inspections800$ 130,000Purchase orders540Additional production information concerning its two models follows.Units and ActivitiesUnits producedMachine hoursSetupsInspectionsPurchase ordersPer UnitSelling price per unitDirect materials cost per unitDirect labor cost per unitModel XModel Z2,0004,0002,2005,40080160540260360180Model X$410Model Z$ 3901601101451601. Compute the activity rate for each activity using activity-based costing.2. Using activity-based costing, compute the overhead cost per unit for each model.3. Compute the total product cost per unit for each model.4. For each model, compute the gross profit per unit (selling price per unit minus product cost per unit).

Gross profit is the amount of money earned by the entity after deducting the cost of goods sold from…

Process Assembly Finishing Support Activity Activity Machining Setups Budgeted Cost Activity Cost Driver Usage $311,800 Machine hours (MH) 7,600 24,000 Setups 240 Inspecting $335,800 $224,000 Inspections 800 Purchasing $ 130,000 Purchase orders 540 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Model X Model Z 2,000 4,000 2,200 5,400 Setups Inspections Purchase orders Selling price per unit 80 160 540 260 360 180 Per Unit Model X $ 410 Model Z $ 390 Direct materials cost per unit 160 110 Direct labor cost per unit 145 160 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead cost per unit for each model. 3. Compute the total product cost per unit for each model. 4. For each model, compute the gross profit per unit (selling price per unit minus product cost per unit).

Process Assembly Finishing Support Activity Activity Machining Setups Budgeted Cost Activity Cost Driver Usage $311,800 Machine hours (MH) 7,600 24,000 Setups 240 Inspecting $335,800 $224,000 Inspections 800 Purchasing $ 130,000 Purchase orders 540 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Model X Model Z 2,000 4,000 2,200 5,400 Setups Inspections Purchase orders Selling price per unit 80 160 540 260 360 180 Per Unit Model X $ 410 Model Z $ 390 Direct materials cost per unit 160 110 Direct labor cost per unit 145 160 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead cost per unit for each model. 3. Compute the total product cost per unit for each model. 4. For each model, compute the gross profit per unit (selling price per unit minus product cost per unit).

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

Hello tutor solve this my question
Accounting Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 3,000 100% 40% Units started this period 21,600 Units completed and transferred out 22,200 Ending work in process inventory 2,400 100% 80% Beginning work in process inventory Direct materials $ 19,800 Conversion 221,940 $ 241,740 Costs added this period Direct materials 496,800 Conversion 2,165,940 2,662,740 Total costs to account for $ 2,904,480 Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200. Required: 1. Prepare the Forming department's production cost report for May using FIFO. 2. Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly.
dont give image in answer mode
ss
Single plantwide factory overhead rate Bach Instruments Inc. makes three musical instruments: flutes, clarinets, and oboes. The budgeted factory overhead cost is $105,000. Overhead is allocated to the three products on the basis of direct labor hours. The products have the following budgeted production volume and direct labor hours per unit: Budgeted Production Volume Direct Labor Hours Per Unit Flutes 2,300 units 0.6 Clarinets 700 1.6 Oboes 1,000 1.0 If required, round all per unit answers to the nearest cent. a. Determine the single plantwide overhead rate.$fill in the blank 1 per direct labor hour b. Use the overhead rate in (a) to determine the amount of total and per-unit overhead allocated to each of the three products. TotalFactory Overhead Cost Per UnitFactory Overhead Cost Flutes $fill in the blank 2 $fill in the blank 3 Clarinets fill in the blank 4 fill in the blank 5 Oboes fill in the blank 6 fill in the blank 7 Total…
Please do not give solution in image format thanku
how can I resolve this problem? Percent Completed Units Materials Conversion Work in process, beginning 50,000 70% 40% Started into production 265,000 Completed and transferred out 255,000 Work in process, ending 60,000 75% 25% Materials Conversion Work in process, beginning $ 16,600 $ 5,000 Cost added during June $ 178,400 $ 105,700 Required: 1. Calculate the Blending Department's equivalent units of production for materials and conversion in June. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion in June. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. 4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total for June. 5. Prepare a cost reconciliation report for the Blending Department for June.
A7 please help.....
Activity-Based Customer Costing Deeds Company sells custom-made machine parts to industrial equipment manufacturers by bidding cost plus 40 percent, where cost is defined as manufacturing cost plus order processing cost. There are two types of customers: those who place small, frequent orders and those who place larger, less frequent orders. Cost and sales information by customer category is provided below. Frequently OrderingCustomers Less FrequentlyOrdering Customers Sales orders 45,000 4,500 Order size 15 150 Average unit manufacturing cost $40 $40 Order-processing activity costs: Processing sales orders $2,878,500 Order-filling capacity is purchased in steps (order-processing clerks) of 1,000, each step costing $46,000; variable order-filling activity costs are $35 per order. The activity capacity is 55,000 orders; thus, the total order-filling cost is $4,262,500 [(55 steps × $46,000) + ($35…
Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 3,750 cameras with the following costs: Direct materials $1,000,000 Direct labor 104,000 Manufacturing overhead 768,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. 1. What was the total prime cost in January?$fill in the blank 1 2. What was the prime cost per unit in January?$fill in the blank 2per unit 3. What was the total conversion cost in January?$fill in the blank 3 4. What was the conversion cost per unit in January? $fill in the blank 4per unit
Please help me with correct answer thanku
Question Content Area Dawson Company manufactures small table lamps and desk lamps. The following shows the activities per product and the total overhead information: Line Item Description Units Setups Inspections Assembly (dlh) Small table lamps 4,000 3,200 9,000 41,200 Desk lamps 7,100 6,400 15,000 41, 200 Activity Total Activity - Base Usage Budgeted Activity Cost Setups 9, 600 $ 86,400 Inspections 24,000 120,000 Assembly (dlh) 72,100 353, 290 The total factory overhead to be allocated to desk lamps is a. $167, 240 b. $334, 480 c. $602, 064 d. $434,824