Quality Motors has an inspection cost pool of $80,000. The company produces two types of vehicles: sedans (300 inspections) and SUVs (500 inspections). How much of the inspection cost pool should be assigned to sedans? a) $30,000 b) $32,000 c) $40,000 d) $48,000
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- Hel Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,300 helmets, using 2,475 kilograms of plastic. The plastic cost the company $18,810. According to the standard cost card, each helmet should require 0.68 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,300 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,300 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms…Shortt Company has been approached by a customer who is offering a one-time-only special order to buy 4,340 units of a customer- designed part. Each one of these parts requires 4 units of raw material A10 and 4 units of raw material C70. Data concerning these two raw materials follow: A10 C70 Units in Raw Materials Inventory 1,970 14,340 Cost Per Unit in Raw Materials Inventory $7.20 $ 7,70 Current Market Price Per Unit $8.20 $ 8.70 Disposal Value Per Unit $ 3.70 $ 4.20 The current market price per unit mentioned above reflects the prices currently charged by Shortt Company's raw materials supplier. The disposal value per unit mentioned above reflects the price that a recycling company would pay Shortt to purchase any unused raw materials that it wishes to liquidate. Material A10 is used by many of the company's products and is routinely replaced. Material C70 is no longer used by the company in any of its normal products. Required: 1. What is the relevant cost of the raw materials…Lally, Inc. produces universal remote controls. Lally uses a JIT costing system. One of the company's products has a standard direct materials cost of $9 per unit and a standard conversion cost of $35 per unit. During January 2018, Lally produced 500 units and sold 495 units on account at $45 each. It purchased $4,800 of direct materials on the account and incurred actual conversion costs totaling $14,000. Requiremets : 1. Prepare summary jounal entries for January. 2. The January 1, 2018, balance of the Raw and In-Process inventory account was $70. Use a T - account to find the January 31 balance. 3. Use a T - account to determine wheither conversion costs are overallocated or unerallocated for the month. By how much? Prepare the journal entry to adjust the Conversion Costs account.
- es Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,800 helmets, using 2,888 kilograms of plastic. The plastic cost the company $19,061. According to the standard cost card, each helmet should require 0.70 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,800 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,800 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms…Zachary manufacturing company makes tents that it sells directly to camping enthusiasts through a mail-order marketing program. The company pays a quality control expert $121600 per year to inspect completed tents before they are shipped to customers. assume that the company completed 1,530 tents in January and 1,240 tents in February. For the entire year, the company expects to produce 19000 tents. required c) If the cost objective is to determine the cost per tent, is the expert's salary a direct or an indirect cost? D) How much of the expert's salary should be allocated to tents produced in January and February? If the cost objective is to determine the cost per tent is the expert's salary a direct or an indirect cost?Shortt Company has been approached by a customer who is offering a one-time-only special order to buy 4,000 units of a customer- designed part. Each one of these parts requires 4 units of raw material A10 and 4 units of raw material C70. Data concerning these twe raw materials follow: A10 C70 Units in Raw Materials: Inventory 1,800 Raw Materials Inventory $ 5.50 Cost Per Unit in Current Market Disposal Value $ 6.00 Per Unit $ 2.00 $ 2.50 14,000 Price Per Unit $ 6.50* $ 7.00 The current market price per unit mentioned above reflects the prices currently charged by Shortt Company's raw materials supplier. The disposal value per unit mentioned above reflects the price that a recycling company would pay Shortt to purchase any unused raw materials that it wishes to liquidate. Material A10 is used by many of the company's products and is routinely replaced. Material C70 is no longer used by the company in any of its normal products. Required: 1. What is the relevant cost of the raw materials…
- HardevBandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,400 helmets, using 2,584 kilograms of plastic. The plastic cost the company $17,054. According to the standard cost card, each helmet should require 0.69 kilogram of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQx SP) to make 3,400 helmets? 3. What is the materials spending variance? 4. What are the materials price variance and the materials quantity variance? Note: For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. 1. Standard quantity of kilograms…Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,800 helmets, using 2,812 kilograms of plastic. The plastic cost the company $21,371. According to the standard cost card, each helmet should require 0.66 kilogram of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,800 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,800 helmets? 3. What is the materials spending variance? 4. What are the materials price variance and the materials quantity variance? Note: For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. 1. Standard quantity of kilograms…
- Adams Furniture receives a special order for 10 sofas for a special price of $5,200. The direct materials and direct labor for each sofa are $100. In addition, supervision and other fixed overhead costs average $120 per sofa. Required: a1. What is the impact on operating income from accepting the special order? a2. Based solely on a short-term financial analysis, should Adams accept the special order? b1. If Adams is currently operating at full capacity, what would be the opportunity cost per unit for lost sales to regular customers if the special sales order is accepted and the selling price per unit on regular sales equals $700? b2. Based solely on a short-term financial analysis, should Adams accept the special order if it is currently operating at full capacity? Complete this question by entering your answers in the tabs below. Req al Req a2 Answer is complete but not entirely correct. Req bl Req b2 If Adams is currently operating at full capacity, what would be the opportunity…Talladega Tire and Rubber Company has capacity to produce 170,500 tires. Talladega presently produces and sells 133,900 tires for the North American market at a price of $179 per tire. Talladega is evaluating a special order from a European automobile company, Autobahn Motors. Autobahn is offering to buy 19,500 tires for $110.95 per tire. Talladega’s accounting system indicates that the total cost per tire is as follows: Direct materials $54 Direct labor 21 Factory overhead (58% variable) 24 Selling and administrative expenses (40% variable) 28 Total $127 Talladega pays a selling commission equal to 5% of the selling price on North American orders, which is included in the variable portion of the selling and administrative expenses. However, this special order would not have a sales commission. If the order was accepted, the tires would be shipped overseas for an additional shipping cost of $7.56 per tire. In addition, Autobahn has made the order conditional on…Stevens Company manufactures electronic components used in automobile manufacturing. Each component uses two raw materials, Geo and Clio. Standard usage of the two materials required to produce one finished electronic component, as well as the current inventory, are shown below. Material Per Unit Geo Clio Standard Price Current Inventory 5,000 pounds 7,500 pounds 2.0 pounds $15/lb. 1.5 pounds $10/lb. Select one: Stevens forecasts sales of 20,000 components for each of the next two production periods. Company policy dictates that 25% of the raw materials needed to produce the next period's projected sales be maintained in ending direct materials inventory. Based on this information, what would the budgeted direct materials purchases for the coming period be? a. Geo- $450,000 Clio- $450,000 b. Geo- $675,000 Clio- $300,000 c. Geo- $825,000 Clio- $450,000 d. Geo- $675,000 Clio- $400,000
