Q-2) The financial information of a manufacturing company for December is given below: TL 25.000 Name & Surname: Beginning Raw Material Student ID: Ending Raw Material Purchase of Raw Material Direct Labor Cost Factory Overheads 20.000 55.000 90.000 30.000 Signature: Direct material and direct labor costs are variable. On the other hand, 30% of Factory Overheads are fixed, and 70% are variable costs. The monthly production capacity of the company is 12.000 kg of products. The company produced 9.000 kg of products in December. REQUIRED: Calculate the total and unit cost based on Normal Costing and Variable Costing Methods.

Q-2) The financial information of a manufacturing company for December is given below: TL 25.000 Name & Surname: Beginning Raw Material Student ID: Ending Raw Material Purchase of Raw Material Direct Labor Cost Factory Overheads 20.000 55.000 90.000 30.000 Signature: Direct material and direct labor costs are variable. On the other hand, 30% of Factory Overheads are fixed, and 70% are variable costs. The monthly production capacity of the company is 12.000 kg of products. The company produced 9.000 kg of products in December. REQUIRED: Calculate the total and unit cost based on Normal Costing and Variable Costing Methods.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 11E: Ripley, Inc., costs products using a normal costing system. The following data are available for...

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Asplund Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $ 6.95 Cost per Period $ 3.60 $ 2.00 $ 20,800 $ 1.50 $ 0.45 $ 8,900 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,280 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,280 units? a. Total product cost b. Total period cost
Shown below are units produced and total manufacturing costs for the pastfour months at Minda Manufacturing Corporation: Units Produced Total CostJul 120 P446,000Aug 150 P508,000Sep 180 P638,000Oct 170 P668,000What is Minda's cost formula for total manufacturing costunder the high-lowmethod?