319948Question 6 of 15View PoliciesCurrent Attempt in ProgressDirect labor hoursBoswell Company manufactures two products, Regular and Supreme. Boswell's overhead costs consist of machining, $4800000; andassembling, $2400000. Information on the two products is:Machine hoursNumber of partsGS JO$4320000.O $2190gmo.O $5010000.O $2880000.Save for Later<>144SINGA%Regular Supreme10000Overhead applied to Regular using traditional costing using direct labor hours is1000090000stated Apa pe teren overd161500030000160000WAS MAN&O15*DEALEfjoHOISBNLIEN 1 of 1MOBILE, AL 36691-0249CLARKSTON, GA 30321hallitulleeddelslaAttempts: 0 of 1 used112-/1 Eprt scSubmit AnswerTHIS YOURscr IkCITpause

Question 6 of 15 View Policies Current Attempt in Progress Direct labor hours Boswell Company manufactures two products, Regular and Supreme. Boswell's overhead costs consist of machining, $4800000; and assembling, $2400000. Information on the two products is: Machine hours Number of parts <> O $4320000. O $2190900. O $5010000. O $2880000. Save for Later Regular Supreme 15000 10000 10000 90000 30000 Overhead applied to Regular using traditional costing using direct labor hours is 160000 -/1 E : Attempts: 0 of 1 used Submit Answer

Question 6 of 15 View Policies Current Attempt in Progress Direct labor hours Boswell Company manufactures two products, Regular and Supreme. Boswell's overhead costs consist of machining, $4800000; and assembling, $2400000. Information on the two products is: Machine hours Number of parts <> O $4320000. O $2190900. O $5010000. O $2880000. Save for Later Regular Supreme 15000 10000 10000 90000 30000 Overhead applied to Regular using traditional costing using direct labor hours is 160000 -/1 E : Attempts: 0 of 1 used Submit Answer

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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Problem No. 1 - Process Costing CBA Company produces a product that undergoes three processes and the completed items at the end of process 3 are the items to be sold to customers. For November 2021, CBA company presented the following costs on theses processes: Costs incurred: Process 1 Process 2 Process 3 Materials P300,000 P240,500 P184,400 Labor 198,000 168,875 139,200 Overhead 158,400 135,100 111,360 Materials added 100% at the 40% at the 40% at the beginning of the process, another 30% at 70% beginning of the beginning of the process, and the remaining 60% is added at 60% conversion. process. conversion, and the remaining 30% is added at 90% conversion. Started/Transferred in (units) 100,000 98,000 94,000 In process, beginning (units) Completed and transferred out (units) 98,000 94000 88,000 In process, ending (units) ? ? In Process, end (rate of conversion) 50% 50% 60% Normal loss (units) 1,000 1,800 Abnormal loss (units) 1,200 Quality control Inspection At the end of each…
Current Attempt in Progress Bonita Industries produces 5000 units of part A12E. The following costs were incurred for that level of production: Direct materials Direct labor Variable overhead Fixed overhead $(15000). $145000. $ 60000 O $85000. O $(60000). 165000 80000 If Bonita buys the part from an outside supplier, $45000 of the fixed overhead is avoidable. If the outside supplier offers a unit price of $73, net income will increase (decrease) by 175000
urrent Attempt in Progress Bramble and Miller Manufacturing is trying to determine the equivalent units for conversion costs with 11700 units of ending work in process at 70% completion and 32200 physical units. There are no beginning units in the department. Conversion costs occur evenly throughout the entire production period. What are the equivalent units for conversion costs for the current period? 8190. O 43900. 28690. 46000. e Textbook and Media
Test yourself ABC Company is producing three products, A, B and C in Direct labor hours their unit. A C 10,000 15,000 25,000 Number of orders 15 25 10 placed During the year 2019,the total overhead expenses Machine set up hours 150 300 50 are; Requirement 1. Calculated pre-determined overhead rate if overhead is applied based on the direct labor hours Procurement cost RO200,000 Machine set up cost RO100,000 2. Compute overhead rates using activity based costing. 3. Determine the difference in the amount of overhead allocated to each product between the two methods.
EXERCISE 1 LP Corporation uses an activity-based costing system with the following three activity cost pools: Total Activity Activity Cost Pool Fabrication 80,000 machine-hours 400 orders Order processing Other Not applicable The Other activity cost pool is used to accumulate costs of idle capacity and facility-sustaining costs. The company has provided the following data concerning its costs: Wages and salaries Depreciation P460,000 180,000 200,000 P840,000 Occupancy Total The distribution of resource consumptions across activity cost pools is given below: Activity Cost Pools Order Fabrication Other Total Processing Wages and salaries 5% 80% 15% 100% Depreciation 15% 40% 45% 100% Occupancy 15% 50% 35% 100% Required: 1. Determine the activity rate for the Fabrication activity cost pool. 2. Determine the activity rate for the Order Processing activity cost pool. ersity
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View Policies Current Attempt in Progress Wilson Company manufactures a line of lightweight running shoes. CEO Charles Wilson estimated that the company would incur $7,200,000 in manufacturing overhead during the coming year. Additionally, he estimated the company would operate at a level requiring 400,000 direct labor hours and 400,000 machine hours. (a) Assume that Wilson Company uses direct labor hours as its manufacturing overhead application base. Calculate the company's predetermined overhead rate. Company's predetermined overhead rate $ eTextbook and Media Save for Later /DLH Attempts: 0 of 4 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above. Submit Answer
Question 2
LL Requlred Information The following information applies to the questions displayed below] Cane Company manufactures two products called Alpha and Beta that sell for $225 and $175, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 130,000 units of each product Its average cost per unit for each product at this level of activity are given below. Alpha $42 Beta $ 24 32 24 Direct materials Direct labor Variable manufacturing overhead Traceable Fixed manufacturing overhead Variable selling expenses Common fixed expenses 42. 26. 34 31. 34. 27. Total cost per unit $173 The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars. 2 What is the company's total amount of common fixed expenses? Total common fixed expenses. ( Prev of 15 2 3 4 Next e to search TPL F4 F5
Question Content Area Prior to installing a JIT system, Grindstone Company used machine hours to assign maintenance costs to its three products of 4-inch, 6-inch, and 9-inch insulation. The maintenance costs totaled $432,000 per year. The machine hours used by each product and the quantity produced of each product are as follows: Machine Hours Quantity Produced 4-inch 5,000 15,000 rolls 6-inch 12,000 12,500 rolls 9-inch 7,000 11,200 rolls After installing JIT, three manufacturing cells were created, and the cell workers were trained to perform maintenance. Maintenance costs for the three cells still totaled $432,000; however, these costs are now traceable to each cell. Cell, 4-inch $125,000 Cell, 6-inch 175,000 Cell, 9-inch 165,000 The maintenance cost per roll of 9-inch insulation before JIT is installed would be a. $14.00. b. $11.25. c. $7.75. d. $30.00.
Question Two Pass-Well Company Limited produces a product that passes through two processes, Process 1 and Process 2. Details of activities for the month of December, 2020 is as follows; Process 1 @GH₵200.00 200hrs 3,500units GH₵20 per unit Process 2 GH₵25,000.00 600hrs 3,150units GH₵40 per unit a. You are required to prepare the relevant accounts b. You are required to prepare the relevant Accounts With practical example, differentiate between cost assignment and cost apportionment; product cost and period costs; direct Material introduced (4,000 units) Material added Labour Costs (@GH₵400 per hour) Output in units Scrap value of normal loss Note; i. Overhead is absorbed at 80% of labour costs. ii. Normal loss is estimated at 10% for both process. iii. No opening and closing stocks cost and indirect cost
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.