Q3(1ZENAB Company produces Shirt and Dress dataAnnual production in unitsDirect material costsDirect manufacturing labor costsDirect manufacturing labor hoursMachine hoursNumber of production runsInspection hoursTotal manufacturing overhead costs areMachining costsSetup costsInspection costsRequiredMachine hoursNumber of production runsInspection hoursShirt50000$150000$50000$250025000501000Total$375000$120000$105000Dress100000$300000$100000$50005000050500Determine the company's 2020 budgeted manufacturing overhead rate(using machine hours as the singleallocation base) using simple costing system41 Determine the company's 2020 budgeted manufacturing overhead rate using activity-based approachand Determine the total cost per unit for each product.roducts. The budgeted sales unit and

ACTIVITY BASED COSTING Activity Based Costing is a Powerful tool for measuring performance.…

Q3(1 ZENAB Company produces Shirt and Dress data Annual production in units Direct material costs Direct manufacturing labor costs Direct manufacturing labor hours Machine hours Number of production runs Inspection hours Total manufacturing overhead costs are Shirt 50000 $150000 $50000 $2500 25000 50 1000 Total

Q3(1 ZENAB Company produces Shirt and Dress data Annual production in units Direct material costs Direct manufacturing labor costs Direct manufacturing labor hours Machine hours Number of production runs Inspection hours Total manufacturing overhead costs are Shirt 50000 $150000 $50000 $2500 25000 50 1000 Total

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

A1
Period Ccb Home | bartl... of 15 ! 2 Required information [The following information applies to the questions displayed below.] my.post.edu... X 9- Unit 1 - C... Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Total fixed manufacturing cost Okay 3 9. If 8,000 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production? 4 5 G what is the h... Init 1 - C... CO 6 7 Average Cost per Unit $ 7.00 $ 4.50 $ 1.40 $ 4.00 $ 4.00 $ 2.10 $ 1.10 $ 0.55 You 8 9 0 ct de
Cost & Management Accounting AC336 Question 3 (13 Marks) Krypton Inc. manufactures two products, Vintex and Bromal. The company estimated it would incur $160,690 in manufacturing overhead costs during the current period. Overhead currently is applied to the products on the basis of direct labour hours. Data concerning the current period's operations appear below: Estimated Volume Direct labour hours per unit Direct labour cost per unit Direct material cost per unit Activity cost pool Material acquisition costs Machine costs General factory costs Required: Activity cost pool Material acquisition costs Machine costs General factory costs Vintex 4,700 units 2.1 hours Estimated overhead costs $33.60 $4.80 The company is considering using an activity-based costing system to compute unit product costs instead of its traditional single plant-wide system based on direct labour hours. The activity- based costing system would use three activity cost pools and drivers: Driver Purchase orders…
Figure 4 Steele Ltd. has the following information for January, February, and March 2011: Units produced Units sold January 10,000 7,000 February 10,000 March 10,000 8,500 10,500 Production costs per unit (based on 10,000 units) are as follows: Direct materials GHS12 Direct labour Variable factory overhead Fixed factory overhead Variable selling and admin. expenses Fixed selling and admin. expenses 4 10 4 There were no beginning inventories for January 2011, and all units were sold for GHS50. Costs are stable over the three months. 21. Refer to Figure 4. What is the January ending inventory for Steele Ltd. Using the variable costing method? a. GHS260,000 b. GHS78,000 c. GHS108,000 d. GHS90,000
Sh51
2uestion 3: PQ Itd. is manufacturing product X and Y only. It provides the following information X Sales X – 70,000 units @ $12 $ 840,000 Sales Y – 90,000 units @ $8 Total Material Cost ($259,000) Total Labor Cost ($233,000 Total Overheads ($190,000) Profit/(Loss) $158,000 Additional Information: Labour includes fixed cost $65,000 Overheads include fixed cost $36,000 Required: Calculate the Contribution per unit of Y & interpret the answers. Part B Raw materials Purchases ... $290,000 Manufacturing overhead applied to work in process. . $285,000 Total actual manufacturing overhead costs. .... $270,000 Selling expenses.. $140,000 Direct labor....? Admin expenses. $100,000 Inventory balances were as follows: Beginning of Year $40,000 End of Year Raw materials Work in process Finished goods. $10,000 $35,000 $50,000 Cost of goods available for sale $740,000; Net operating income was $30,000. Unadjusted cost of goods sold totaled $660,000; Total manufacturing costs for the year were…
please dont provide answer in image format thank you
6 Dake Corporation's relevant range of activity is 2.000 units to 6.000 units. When it produces and sells 4,000 unts, its average costs per un are as follows Average Cost per Unit $ 6.55 $ 3.50 $ 1.40 $ 2.60 5.0.70 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense $ 0.40 Fixed administrative expense Sales commissions $ 1.50 Variable administrative expense $ 0.45 For financial reporting purposes, the total amount of product costs incurred to make 4.000 units is closest to Multiple Choice $56.200
Question 3 Ashale Botwe Ltd has the following cost and expense data for the year ending December 31, 2022. Direct materials (GHC) Work in process (GH¢) Finished goods (GH¢) Insurance factory Property taxes on factory building Materials purchases Sales Indirect materials Delivery expenses Sales commissions Indirect labour 1/1/22 Factory machinery rent Factory utilities Direct labour 30,000 80,000 110,000 Other items of revenue and cost during the year are as follows: (GHC) 31/12/22 20,000 50,000 120,000 Direct materials used b) Total manufacturing cost c) Statement of cost of goods manufactured d) Prime cost e) Conversion cost f) Cost of goods available for sale g) Cost of goods sold h) Gross profit i) Period cost j) Net income 14,000 6,000 205,000 1,500,000 15,000 100,000 150,000 90,000 40,000 ARI 65,000 350,000 24,000 35,000 300,000 Depreciation, factory building Factory manager's salary Administrative expenses For the year 2022, you are required to compute the following:
H1.