Required Information (Appendix 10B) The Baby Clothing Company makes and sells a single product, called a New bodysuit and emp standard costing system. The following standards have been established for one unit of New bodysuit: Direct Materials Direct Labour There were no inventories of any kind on August 1. During August, the following events occurred: Purchased 14.000 board metres at the total cost of $22.000 Used 10,300 board metres to produce 2,100 New bodysuits. Used 1,400 hours of direct labour time at a total cost of $18,060. Multiple Choice Standard Quantity or Standard Cost per New Hours bodysult 5 board metre 0.7 hours ppendix 108) To record the purchase of direct materials, the general ledger would include what entry to the Materi $1,500 credit $8.00 $8.40 $400 debit

Required Information (Appendix 10B) The Baby Clothing Company makes and sells a single product, called a New bodysuit and emp standard costing system. The following standards have been established for one unit of New bodysuit: Direct Materials Direct Labour There were no inventories of any kind on August 1. During August, the following events occurred: Purchased 14.000 board metres at the total cost of $22.000 Used 10,300 board metres to produce 2,100 New bodysuits. Used 1,400 hours of direct labour time at a total cost of $18,060. Multiple Choice Standard Quantity or Standard Cost per New Hours bodysult 5 board metre 0.7 hours ppendix 108) To record the purchase of direct materials, the general ledger would include what entry to the Materi $1,500 credit $8.00 $8.40 $400 debit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year's production: Units to Account For Units Materials Conversion 250 Beginning work in process inventory 600 600 Started 21,400 Total units to accounted for 22,000 Ending inventory was 100% complete as to materials and 70% complete as to conversion, and the total materials cost is $59,840 and the total conversion cost is $37,980. Using the weighted-average method, what are the unit costs if the company transferred out 19,000 units? If required, round final answers to two decimal places. Materials Cost per unit Conversion $ Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory? Inventory transferred out $ Ending WIP inventory $
Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process—Filling on April 1 and debits to the account during April were as follows:Bal., 800 units, 30% completed:Direct materials (800 × $4.30) $ 3,440Conversion (800 × 30% × $1.75) 420 $ 3,860From Cooking Department, 7,800 units $34,320Direct labor 8,562Factory overhead 6,387During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed.Charges to Work in Process—Filling for May were as follows:From…
Please do not give images format
Please do not give image format
Candace's Candies, Inc. produces gummy bears. The company purchases raw materials, stores them in a warehouse, and then runs them through two processes: production and packaging. During September, the production process incurred the following costs in processing: Wages of workers operating production equipment Manufacturing overhead allocated to the production department Direct materials $50,700 5,000 250,000 Equivalent units of production was 23,000 units for materials and 22,500 units for conversion. Use the FIFO method to compute the September cost per equivalent unit of production for direct materials. OA. $2.42 OB. $2.48 O C. $11.11 OD. $10.87
Hartley 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 acco
Collin Company manufactures small appliances and uses an activity-based costing system. Information from its system for the year for all products follows: Activity cost pool Total cost Total activity. Assembly Inspection Packaging $460,000 $298,500 $19,700 A. $139,977.76 B. $115,566.24 C. $23,187.50 D. $26.50 20,000 8,500 1,800 machine - hours inspection - hours order The company makes 875 of its stand mixers a year, which requires a total of 27 machine hours, 15 inspection hours, and 9 orders. The stand mixer requires $16.00 in direct materials per unit and $10.50 in direct labor per unit. The stand mixer sells for $160 per unit. What is the profit margin in total for the stand mixer? (Do not round intermediary calculations and round your final answer to the nearest cent.)
Domestic