Question 5Mr. A is a garment manufacturer and has given the following details for calculating thetotal cost for the period:Direct materials from requisition R-20: $1,000Direct labor from Time ticked T-29: $150Estimated Overhead: $300Determine the Total cost for the period from the given information.$1450 is wrong answer pls give correctanswer without use of chatgpt.

Explanation of Concepts in CostingIn manufacturing and cost accounting, the total cost for a period…

Answered: Question 5 Mr. A is a garment…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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In an actual cost system, it is difficult to determine the _____ per unit. Group of answer choices A. overhead B. direct labor C. direct materials D. none of these are easy to determine To purchase materials on account, the entry would be: Group of answer choices A. Debit Finished Goods 2,000; Credit Materials 2,000 B. Debit Materials 2,000; Credit WIP 2,000 C. Debit AP 2,000; Credit Sales 2,000 D. Debit Materials 2,000; Credit AP 2,000 Applied overhead costs are charged to ________________. Group of answer choices A. Wages payable B. Materials C. Finished goods D. Work in process The difference between actual overhead and applied overhead is called a (n) _________________. Group of answer choices A. cost of goods sold B. fixed overhead C. variable overhead D. overhead variance In ___________ costs are accumulated by department. Group of answer choices A. process costing B. activity-based cosing C. direct costing D.…
Sage Hill Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information: $16,900 13,870 4,540 54,120 88,640 152,080 9,400 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $76,280 50,620 2,750 1,490 2,200 16,500 2,860
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Info in images Question relating to the images: 3. Info in image "ACC PT2" 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. Unadjusted cost of goods sold [ ] 5. Assume that the $38,000 ending balance in Work in Process includes $8,600 of direct materials. Given this assumption, supply the information missing below: Direct materials $8,600 Direct labor [ ] Manufacturing overhead [ ] Work in process inventory $38,000
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?
Method of Least Squares, Predicting Cost for Different Time Periods from the One Used to Develop a Cost Formula Refer to the information for Farnsworth Company on the previous page. However, assume that Tracy has used the method of least squares on the receiving data and has gotten the following results: Required: 1. Using the results from the method of least squares, prepare a cost formula for the receiving activity. 2. Using the formula from Requirement 1, what is the predicted cost of receiving for a month in which 1,450 receiving orders are processed? (Note: Round your answer to the nearest dollar.) 3. Prepare a cost formula for the receiving activity for a quarter. Based on this formula, what is the predicted cost of receiving for a quarter in which 4,650 receiving orders are anticipated? Prepare a cost formula for the receiving activity for a year. Based on this formula, what is the predicted cost of receiving for a year in which 18,000 receiving orders are anticipated?
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(c2) Estimated daily production costs for April 1 using both the high-low method and the regression model and actual manufacturing costs incurred on April 1 are provided here. Units manufactured Total cost 3,897 $296,512 Estimated cost using high-low method Estimated cost using the regression model Actual cost B $300,486 $296,149 $296,512 Identify which is the most reliable approach to estimating costs and explain why. I U T₁ T' IEEE J E H 3 99 = FEB á
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