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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- One of Anfa Company's activity cost pools is inspecting, with an estimated overhead (OH) of $155,000. It produces throw rugs (820 inspections) and area 'rugs (1,180 inspections). How much $$ OH should be assigned to throw rugs inspections? A) $35,000 B) $50,000 C) $63,550 D) $100,000One of Anfa Company's activity cost pools is inspecting, with an estimated overhead (OH) of $155,000. It produces throw rugs (820 inspections) and area rugs (1,180 inspections). How much $$ OH should be assigned to throw rugs inspections?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.One of Anfa Company's activity cost pools is inspecting, with an estimated overhead (OH) of $155,000. It produces throw rugs (820 inspections) and area 'rugs (1,180 inspections). How much $$ OH should be assigned to throw rugs inspections? A) $35,000 B) $50,000 C) $63,550 D) $100,000 answer?Cariman Company manufactures and sells three styles of door Handles: Gold, Bronze and Silver. Production takes 50, 50, and 20 machine hours to manufacture 1,000-unit batches of Gold, Bronze, and Silver Handles, respectively. The following additional data apply: Projected sales in units Per Unit data: Gold Bronze Silver 60,000 100,000 80,000 2. Determine the activity cost driver rate for setup costs and inspection costs? 3. Using the ABC system, for the Gold style of Handle: a. Calculate the estimated overhead costs per unit? b. Calculate the estimated operating profit per unit? 4. Explain the difference between the profits obtained from the traditional system and the ABC system. Which system provides a better estimate of profitability? Selling price $80 $40 $60 Direct materials $16 $8 $16 Direct labour $30 $6 $18 Overhead cost based on direct labour hours (traditional system) $24 $6 $18 Hours per 1,000-unit batch: Direct labour hours Machine hours Setup hours Inspection hours 80 20 60…
- 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…Jungle Junior Company manufactures and sells outdoor play equipment. Jungle Junior usesactivity-based costing to determine the cost of the sales order processing and the customerreturn activity. The sales order processing activity has an activity rate of $20 per sales order, andthe customer return activity has an activity rate of $100 per return. Jungle Junior sold 2,500swing sets, which consisted of 750 orders and 80 returns. Determine (a) the total and (b) theper-unit sales order processing and customer return activity cost for swing sets.One of anfa company's activity cost pools is inspecting, with an estimated overhead (OH) of $100,000.
- 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 3,400 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…Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 220 units at $43 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 270-unit purchase at $48 per unit; the second was a 365-unit purchase at $50 per unit. During the period, it sold 520 chairs. RequiredDetermine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses FIFO. LIFO. Weighted average. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)
