Question: Alton Company produces metal belts. During the current month, the company incurred the following product costs: Raw materials $84,000 Direct labor $52,000 Electricity used in the Factory $22,000 Factory foreperson salary $3,100 Maintenance of factory machinery $2,000 What are Alton Company's direct product costs?
Q: The Rock Company produces basketballs. It incurred the following costs during the year. Direct…
A: Absorption costing method :— It is a method of costing in which product cost is calculated by…
Q: The desired profit margin per hour is $27. The material loading charge is 60% of invoice cost.…
A: Hourly rate computation :- ( Total cost / Total available hour ) * Hour for manufacturing one unit…
Q: The Company manufactures furniture at its central Kentucky factory. Some of its costs from the past…
A: Particulars Amount Fabric used to upholster Furniture 80500 Lumber used to Build Product 15100…
Q: P Materials used in p Depreciation on pla Property taxes on Labour costs of ass Factory supplies us…
A: Lets understand the basics.The term COGM (cost of goods manufactured) refers to a schedule or…
Q: Listed here are the costs associated with the production of 1,000 drum sets manufactured by…
A: Manufacturing Cost :— It is the cost that is incurred by company in the manufacturing of product. It…
Q: Andreasen Corporation manufactures thermostats for office buildings. The following is the cost of…
A: Contribution margin per unit=Selling price-Variable cost per unit Break-even point units=Fixed…
Q: Frills at Large manufactures window blinds. In August, Frills at Large produced 19, 200 window…
A: Conversion costs are the costs incurred in converting direct materials into finished goods.…
Q: Required information [The following information applies to the questions displayed below.] Listed…
A: Manufacturing Cost :— It is the cost that is incurred by company in the manufacturing of product.…
Q: Browning Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs…
A: TOTAL COSTTotal Cost is the cost which is incurred to manufacture a product.Total Cost Includes Cost…
Q: Andreasen Corporation manufactures thermostats for office buildings. The following is the cost of…
A: Lets understand the basics. When management have special order available then management try to…
Q: Listed here are the costs associated with the production of 1,000 drum sets manufactured by…
A: Manufacturing cost refers to the sum total of all the costs incurred to manufacture a product. It…
Q: Compute for the total Factory overhead cost of Department H if the company uses the direct method…
A:
Q: Fast Feet Inc. makes running shoes and they are anticipating the incurrence of the following…
A: Budgeting is a method of estimating expected future outcomes based on past events. Budgeting…
Q: Randall Company manufactures chocolate bars. The following were among Randall's manufacturing costs…
A: Cost accounting is defined as the branch of accounting used by manufacturing entities in order to…
Q: Based on the above, the total of fixed costs is O $24,150 O $20,900 O $21,150 None of the above
A: Following is the answer to the given question
Q: Company XYZ is a manufacturing company. During the month of March the company produced 100 units.…
A: The questions are multiple choice questions Required Choose the Correct Option.
Q: Section B Thomson Mechanic Shop employs three (3) mechanics. One mechanic serves as the supervisor…
A: Given, Price of servicing a vehicle = $ 350 ~ Selling price of service Contribution Margin per…
Q: Direct materials $4,000 Direct labor $20,000 Rent on factory building $15,000 Sales salaries $25,000…
A: The overhead rate is calculated as estimated overhead cost divided by estimated base activity.
Q: In addition to other costs, Grosha Telephone Company planned to incur $600,000 of fixed…
A: Predetermined overhead rate = Estimated manufacturing overhead cost / Estimated total units in the…
Q: Montana Company produces basketballs. It incurred the following costs during the year. Direct…
A: Under variable costing, all variable costs incurred in manufacturing the product is known as total…
Q: Cornelius Company produces women’s clothing. During the year, the company incurred the following…
A: The cost of goods manufactured includes total production costs such as direct material consumed,…
Q: Required information [The following information applies to the questions displayed below.] Listed…
A: Product costs are costs related with the production or manufacturing of goods. It includes direct…
Q: The following costs result from the production and sale of 4,850 drum sets manufactured by Tight…
A: VARIABLE COST Variable Cost is a cost that varies with the level of output. variable costs include…
Q: What is the total variable cost per unit What is the total fixed cost What is the contribution…
A: Contribution margin per unit=Revenue per unit- Variable cost per unitRevenue per unit×100
Q: LMN Corp incurred the following costs during the production of 1,000 units of a product: - Direct…
A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…
Q: ndiana Corporation produces a single product that it sells for $9 per unit. During the first year of…
A: The fixed manufacturing cost per unit is calculated as total fixed cost divided by number of units…
Q: We know the following for Train Company: Direct Materials: $400,000 Rent on Corporate Sales Office:…
A: Solution:- Calculation of the product costs as follows:- Introduction:- Product costs include All…
Q: Your Company uses a total of 15,000 units of a part that are produced and used every year. The…
A: Make cost is the cost of producing the product internally. Buy cost is the cost to purchase the…
Q: The following costs result from the production and sale of 4, 600 drum sets manufactured by Tight…
A: Contribution Margin :— Excess of sales revenue over variable cost is called contribution margin.1.…
Q: National Co. rents a building for P50,000 per month and uses it for a num ber of different purposes.…
A: Lets understand the meaning of the period costs. Period costs are cost that are not related to…
Q: Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per…
A: Activity variances are the differences between the static/planning budget and the flexible budget…
Q: X Company manufactures a single product. Monthly production costs incurred in the manufacturing…
A: Variable costs and fixed costs, in economics, are the two main types of costs that a company incurs…
Q: Account Analysis and Contribution Margin Income Statement. Downhill Company would like to estimate…
A: Account analysis is the practise of carefully reviewing each line item in a financial transaction or…
Q: Listed here are the costs associated with the production of 1,000 drum sets manufactured by…
A: The manufacturing costs comprises the costs that are directly or indirectly related to the…
Q: Production Service Departments Departments H V 250,000 100,000 350,000 157,500 61,000 770,000…
A: Overheads are indirectly related to the product they are indirect cost which needs to be allocated…
Q: rane makes Halloween costumes. The company incurred the following total costs to produce 30,700…
A: Cost accounting is the method of accounting which helps in calculating the cost of the product and…
Q: Jumbo Co. sells a special toy product in Hong Kong. The cost information for the current year is as…
A: The question is based on the concept of Cost Accounting.
Q: Use the information below on Direct Labor costs to answer question#33. GIVEN: Management at the Best…
A: The actual labor rate is calculated as total labor cost incurred actually Divided by actual labor…
Q: SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that…
A: Dear Student, As per Bartleby's answering guidelines we can not answer more than three sub-parts if…
Q: Custom Creations Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its…
A: The manufacturing overhead costs include the indirect costs incurred during the period. The…
Q: Fixed Cost Cost per per Month Repair-Hour Wages and salaries $ 21,400 $ 15.00 Parts and supplies $…
A: The flexible budget is not rigid in nature and adjusts itself to the actual units produced while the…
Q: Assume a company manufactures many products, one of which normally sells for $48 per unit. The…
A: Lets understand the basics.In special order situation, special order price gets compared with the…
Q: The Company manufactures furniture at its New York factory. Some of its costs from the past year…
A: All costs are divided into the product cost and period costs, where product cost is further divided…
Q: Product A is produced with the following costs: 1) Paper material P20 per unit 2)…
A: Answer: As per Q/A guidelines, we have answered first 3 subparts of question. 1) Paper material…
Step by step
Solved in 2 steps
- Syarikat Aman Sdn Bhd (SASB) manufactures leather products for the local market. At the beginning of the year 2018, SASB estimates the following costs: Manufacturing overhead costs$ 498,750 Direct labor cost $ 600,000 The following are information related to the production in 2018: Direct labor $ 640,000 Depreciation $ 120,000 Property tax $ 6,000 Supervisor salary $ 100,000 Utilities $ 29,500 Insurance $ 15,000 Rental of space $ 150,000 Indirect labor $ 41,000 Indirect material : Inventory at January 2017 $ 24,000 Purchase during the year $ 47,000 Inventory at December 2017 $ 31,500 T he price per unit for direct material is estimated at $ 5 per unit and direct labor rate per unit is $ 16 per hour. The accountant informed that this amount is similar for both budgeted and actual costs. REQUIRED: (a) Calculate the pre-determined overhead rate for SASB using direct labor hour as a basis. (b) Calculate the under-applied or over-applied overhead. (c) Prepare a journal entry to close the…Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat. 1. Plastic for casing-$20,000 2. Wages of assembly workers-$89,000 3. Property taxes on factory-$6,000 4. Office accounting salaries-$39,000 5. Drum stands-$35,000 6. Rent cost of office for accountants-$48,000 7. Office management salaries-$210,000 8. Annual fee for factory maintenance $16,000 9. Sales commissions-$21,000 10. Factory machinery depreciation, straight-line-$41,000 Costs Required: 1. Classify each cost and its amount as either product or period. The first cost is completed as an example. Costs 1. Plastic for casing 2. Wages of assembly workers 3. Property taxes on factory 4. Office accounting salaries 5. Drum stands 6. Rent cost of office for accountants 7. Office management salaries 8. Annual fee for factory maintenance 9 Sales commissions 10 Factory machinery depreciation, straight-line i $ Product 20,000 PeriodSmithson Electric provides residential and business electric... [The following information applies to the questions displayed below.] Smithson Electric provides residential and business electric repair services. While direct labor and materials costs are traced to individual customers, administrative labor and transportation costs are considered overhead and applied as a percentage of direct labor costs. At the beginning of the year, Smithson estimates $10,000 of overhead costs and $50,000 of direct labor costs. Actual costs for the year are $12,000 for overhead and $48,000 for direct labor. Ending balances for WIP Inventory, Finished Goods Inventory, and Cost of Goods Sold are $4,000, $15,000, and $141,000 respectively. PR 4-5 (Static) Questions a-c. Answer the following questions based on the details provided. Question a. What is Smithson's predetermined overhead rate as a percentage of direct labor? Note: Round your answer to the nearest percent. b. The Jackson account accumulated…
- The J. Page Furniture Company has the following information available regarding costs at various levels of Pi monthly production. Note that the company's total maximum productive capacity is 30,000 units: m Total Cost $72,000 91,800 101,480 12,000 to Direct materials $32,000 40,800 $100,000 he Direct labor 127,500 or SI 45,380 Indirect materials 140,750 Supervisors' salaries 12,000 12,000 ta Depreciation on plant and equipment 8,000 8,000 58,350 8,000 Maintenance 26,350 80,750 Utilities 6,800 14,300 19,550 NI Insurance on plant and equipment 1,600 1,600 1,600 C. 150.000 $640.150 48,000 108.000 $467.530 in Property taxes on plant and equipment $220,930 8,000 Units Ca in Total 18.000 Units 25.000 Units Units produced Required a. For each cost component above, determine whether its cost is a: th t 4omABC Co. produces washers and dryers in an assembly-line process. Labor costs incurred during a recent period were: corporate executives, $500,000; assembly-line workers, $180,000; security guards, $45,000; and plant supervisor, $110,000. The total of ABC’s direct labor cost was: a. $235,000 b. $110,000 c. $155,000 d. $180,000Flounder Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used (a) Compute cost of goods manufactured. $108,000 Cost of goods manufactured $ 54,000 6,750 99,000 20,900 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $40,500 12,700 18,800 Work in process inventory was $10,850 at January 1 and $13,900 at December 31. Finished goods inventory was $54,000 at January 1 and $41,000 at December 31. 31,500 45,000
- A company produces washers and dryers in an assembly-line process. Labor costs incurred during a recent period were: corporate executives, $500,000; assembly-line workers, $209,000; security guards, $45,000; and plant supervisor, $110,000. The total of company's direct labor cost was: Select one: O a. $754,000 O b. $319,000 O c. $203,000 O d. $209,000 O e. $864,000Randall Company manufactures chocolate bars. The following were among Randall's manufacturing costs during the current year: Wages Machine operators $ 300,000 Selling and administrative personnel $ 75,000 Materials used Lubricant for oiling machinery $ 25,000 Cocoa, sugar, and other raw materials $ 250,000 Packaging materials $ 190,000 Randall's direct materials amounted to:A manufacturing company makes cellphone. Conversion costs that change raw materials to become finished products cost N$669000. The workers on the production line were paid N$350000. The total Cost at the manufacturing plant were 849 000.Company had no opening or closing inventories of work in process. What was the amount for manufacturing overheads costs for the period?
- Your Company uses a total of 13,000 units of a part that are produced and used every year. The company's Accounting Department reports the following costs of producing the part at this level of activity: Per Unit Direct materials. $2.90 Direct labor... $7.50 Variable manufacturing overhead... $8.00 Supervisor's salary. $3.40 Depreciation of special equipment.. $1.80 Other fixed costs... $7.00 An outside supplier has offered to make the part and sell it to the company for $29.80 each. If this offer is accepted, the supervisor's salary and all of the variable costs can be avoided. If the part were purchased instead of produced, $2 of the other overhead could be avoided. In addition, the space used to make the part could be used to make more of one of the company's other products, generating an additional segment margin of $25,000 per year for that product. What would be the impact on the company's overall net operating income of buying the part? O A. Decrease by $79,000 per year. O B.…Required information [The following information applies to the questions displayed below.] Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat. Costs 1. Plastic for casing-$20,000 2. Wages of assembly workers-$83,000 3. Property taxes on factory-$8,000 4. Office accounting salaries-$41,000 5. Drum stands-$29,000 6. Rent cost of office for accountants- $36,000 7. Office management salaries-$160,000 8. Annual fee for factory maintenance- $13,000 9. Sales commissions-$20,000 10. Factory machinery depreciation, straight-line-$45,000 2. Compute the average manufacturing cost per drum set. Calculation of Manufacturing Cost per Drum Set Manufacturing costs Total manufacturing costshelp me
