Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assemb Data for the products and departments are listed below. Number of Direct Labor Hours Machine Hours Product Units Per Unit Per Unit Blinks 963 5 7 4 Dinks 1,983 4 8 All of the machine hours take place in the Fabrication department, which has an estimated overhead of $81,600. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $107,600. Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs based on direct labor hours. The factory overhead allocated per unit of Blinks is a. $59.37 b. $538.03 c. $74.20 Od. $14.50

Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assemb Data for the products and departments are listed below. Number of Direct Labor Hours Machine Hours Product Units Per Unit Per Unit Blinks 963 5 7 4 Dinks 1,983 4 8 All of the machine hours take place in the Fabrication department, which has an estimated overhead of $81,600. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $107,600. Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs based on direct labor hours. The factory overhead allocated per unit of Blinks is a. $59.37 b. $538.03 c. $74.20 Od. $14.50

Name: Ramapo Company produces two products, Blinks and Dinks. They are manu
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Description: Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly.Data for the products and departments are listed below.Number of Direct Labor Hours Machine HoursProductUnitsPer UnitPer UnitB

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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Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are as follows: Number of Direct Labor Hours Machine Hours Per Unit Per Unit Product Units Blinks 916 Dinks 2,222 1 5 7 7 All of the machine hours take place in the Fabrication department, which has an estimated overhead of $87,300. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $89,600. a. $60.91 b. $73.55 c. $14.71 d. $89.61 Ramapo Company uses a single plantwide overhead rate (rounded to the nearest cent) to apply all factory overhead costs based on direct labor hours. The factory overhead allocated per unit of Blinks is
Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are listed below. Product Number ofUnits Direct Labor HoursPer Unit Machine HoursPer Unit Blinks 984 2 7 Dinks 2,096 8 7 All of the machine hours take place in the Fabrication department, which has an estimated overhead of $107,300. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $85,100. Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs based on direct labor hours. The factory overhead allocated per unit of Blinks is
BNC Company produces a product in two departments: (1) mixing and (2) finishing. the company uses a process cost accounting system. Accounting Transactions No. Transactions (e) manufacturing overhead is applied to the product based on machine hours used in each department: mixing department - 400 machine hours at $30 per machine hour. Finishing department - 500 machine hours at $20 per machine hour. (f) units costing $56,000 were completed in the mixing department and were transferred to the finishing department. (g) units costing $70,000 were completed in the finishing department and were transferred to finished goods. (h) finished goods costing $40,000 were sold on account for $55,000. Prepare the journal entries to record the preceding transactions for BNC Company. List debit transactions first and then list credit transactions. General Journals No. Account Titles and Explanation Debit ($) Credit ($) (e) work in process inventory - mixing…
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