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Randall Company manufactures chocolate bars. The following were among Randall's
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:
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- Flounder 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 45,000Craftmore Machining produces machine tools for the construction industry. The following details about overhead costs were taken from its company records. Production Activity Indirect Labor Indirect Materials Other Overhead Grinding $ 310,000 Polishing $ 145,000 Product modification 550,000 Providing power $ 260,000 System calibration 560,000 Additional information on the drivers for its production activities follows. Grinding 17,000 machine hours Polishing 17,000 machine hours Product modification 1,500 engineering hours Providing power 15,000 direct labor hours System calibration 200 batches Problem C-1A Part 3 Job 3175 Job 4286 Number of units 150 units 1,875 units Machine hours 350 MH 3,500 MH Engineering hours 30 eng. hours 30 eng. hours Batches 10 batches 30 batches Direct labor hours 520 DLH 4,680 DLHDuring the coming accounting year, Baker Manufacturing, Inc., anticipates the following costs, expenses, and operating data: Direct material (16,000 lb.) $70,000 Direct labor (@ $20/hr.) $20,000 Factory administration $15,000 Indirect labor $10,000 Indirect material $14,000 Non factory administrative expenses $16,000 Other manufacturing overhead $15,000 Maintenance of factory machine $20,000 Sales commissions $70,000 Direct labor hours 2,000 Machine hours 8,000 Calculate the predetermined manufacturing overhead rate for the coming year using direct labor hour as the allocation base. Round your answer to two decimal places when applicable.
- Carla Vista Corporation incurred the following costs while manufacturing its product: Materials used in product $121,200 Advertising expense $45,050 Depreciation on plant 61,600 Property taxes on plant 19,200 Property taxes on warehouse 7,710 Delivery expense 22,000 Labour costs of assembly-line workers 111,000 Sales commissions 35,100 Factory supplies used 26,000 Salaries paid to sales clerks 50,400 Work in process inventory was $10,900 at January 1 and $14,800 at December 31. Finished goods inventory was $60,500 at January 1 and $50,800 at December 31. (a) Calculate the cost of goods manufactured. Cost of goods manufactured $enter the cost of goods manufactured in dollarsSteuben Company produces dog houses. During the current year, Steuben Company incurred the following costs: Rent on manufacturing facility $ 250,000 Office manager's salary 150,000 Wages of factory machine operators 110,000 Depreciation on manufacturing equipment 50,000 Insurance and taxes on selling and administrative offices 30,000 Direct materials purchased and used 170,000 Based on the above information, the amount of period costs shown on Steuben's income statement is: Multiple Choice $150,000. $180,000. $430,000. S 30,000.Bell Corporation manufactures computers. Assume that Bell: • allocates manufacturing overhead based on machine hours. • estimated 12,000 machine hours and $93,000 of manufacturing overhead costs. The predetermined overhead rate is $7.75 per machine hour. • actually used 15,000 machine hours and incurred the following actual costs: Indirect labor $14,000 Depreciation on plant 49,000 Machinery repair 17,000 Direct labor 75,000 Plant supplies 5,000 Plant utilities 10,000 Advertising 33,000 Sales commissions 23,000 How much manufacturing overhead would Bell allocate?
- 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 costsHartley Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Hartley Uniforms reports the following cost data for the past year: Budget Actual 7,600 hours 6,100 hours Direct labor hours Machine hours 7,200 hours 6,300 hours Depreciation on salespeople's autos $23,000 $23,000 Indirect materials $48,500 $50,500 Depreciation on trucks used to deliver uniforms to customers solla $13,000 $70,000 $40,000 $11,000 Depreciation on plant and equipment Indirect manufacturing labor $72,500 $42,000 Customer service hotline $19,000 $21,000 Plant utilities $35,900 $38,400 Direct labor cost $72,500 $85,500 Requirements 1odel tba 1. Compute the predetermined manufacturing overhead rate. 2. Calculate the allocated manufacturing overhead for the past year. 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? 4. How can managers usA accoDJV Corporation incurred the following costs while manufacturing its product. Materials used in product $ 120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 19,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 23,000 Salaries paid to sales clerks 50,000 Work-in-process inventory was $22,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January 1 and $50,600 at December 31. Instructions Compute cost of goods manufactured. Compute cost of goods sold.