QS 14-8 Manufacturing cost flows LO C5 Compute the total manufacturing cost for a manufacturer with the following information for the mo Raw materials purchased Direct materials used Direct labor used Factory supervisor salary Salesperson commissions Depreciation expense-Factory building Depreciation expense-Delivery equipment Indirect materials. Total Manufacturing Cost is Computed as: Total manufacturing costs $ 46,400 56,750 17,200 11,200 6,000 3,600 3,300 1,700

QS 14-8 Manufacturing cost flows LO C5 Compute the total manufacturing cost for a manufacturer with the following information for the mo Raw materials purchased Direct materials used Direct labor used Factory supervisor salary Salesperson commissions Depreciation expense-Factory building Depreciation expense-Delivery equipment Indirect materials. Total Manufacturing Cost is Computed as: Total manufacturing costs $ 46,400 56,750 17,200 11,200 6,000 3,600 3,300 1,700

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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%24 %24 %24 3. 3oration haS the following Information for the month of March. Cost of materials used in production $19,369 Direct labor 26,541 Factory overhead 37,168 Work in process inventory, March 1 22,586 Work in process inventory, March 31 19,023 Finished goods inventory, March 1 23,026 Finished goods inventory, March 31 27,299 a. Determine the cost of goods manufactured. b. Determine the cost of goods sold. earch al 43°F 2) 114
Exercise 17-17 (Algo) Using activity-based costing to allocate overhead, compute product cost and gross profit LO P3 Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Process Assembly Inspections Purchase orders. Finishing Support Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Activity Machining Setups Inspecting Purchasing Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit Required 1 Budgeted Cost $ 311,000 22,000 $ 333,000 $ 232,000 $ 134,000 Activity Model X 2,000 2,200 Machining Setups Inspecting Purchasing 20 520 360 Required 2 Model Z 4,000 5,000 Model X $ 415 155 140 40 300 180 Required 3 Activity Cost Driver Machine hours (MH) Setups 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead…
1- Chapter 1 Assignment i 1 of 15 € a 19 2 Total manufacturing overhead cost Manufacturing overhead per unit 4# Direct materials. Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Required information [The following information applies to the questions displayed below.] 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: Okay 3 4 Y A Saved 11. If 8,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? What is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places.) & LO 5 * Help 6 Save & Exit 7 Average Cost per Unit $7.00 $4.50 $ 1.40 $ 4.00 $4.00 $ 2.10 $ 1.10 $ 0.55 You Check my work 8 Submit 9 } 11 0 d
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Raw Materials Inventory 57,500 5,700 37,000 14,800 Finished Goods Inventory 216,000 43,000 173,000 Factory Overhead 14,800 61,000 52,300 6,000 Which formula solves for the amount of direct materials? 122,100 Work in Process Inventory 37,000 216,000 111,000 122,100 54,100 Factory Wages Payable 172,000 0 111,000 61,000
Figure 11-1Ubben Manufacturing uses an activity-based costing system. The company produces Model X and Model Y. Information relating to the two products is as follows:Model X Model YUnits produced 20,000 40,000Machine hours 8,000 10,000Direct labour hours 14,000 16,000Engineering labour (hours) 1,000 1,400Setups 40 60The following costs are reported:Engineering £ 48,000Setups 100,000Machine-related overhead 144,000 Refer to Figure 11-1. Setups would be classified as a A. unit-level activity.B. facility-level activity.C. batch-level activity.D. total-level activity.
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EXERCISE 1-7 Direct and Indirect Costs L01-1 2.000.81 10 Kubin Company's relevant range of production is 18,000 to 22,000 units. When it produces and sells 20,000 units, its average costs per unit are as follows: Juris Required: 1. 2. 3. 4. a. b. a. b. the Untus ha babubong asin Direct materials.. Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense.. Sales commissions...... Variable administrative expense. b. Average Cost per Unit $7.00 $4.00 $1.50 $5.00 $3.50 $2.50 $1.00 $0.50 Assume the cost object is units of production: What is the total direct manufacturing cost incurred to make 20,000 units? What is the total indirect manufacturing cost incurred to make 20,000 units? Assume the cost object is the Manufacturing Department and that its total output is 20,000 units. How much total manufacturing cost is directly traceable to the Manufacturing Department? How much total manufacturing cost is an indirect cost that…
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question 3-5
Prob 5. 21-23