Rhett Corporation provides the following information for 2020: 20 Budgeted manufacturing overhead costs $1,200,000 Budgeted direct manufacturing labor-hours 20,000 hours Actual manufacturing overhead costs $1,250,000 Actual direct manufacturing labor-hours 25,000 hours 1.200100 201000 The following information for a job at 40 Philadelphia Company: Actual direct materials costs $ 6,000 Actual direct manufacturing labor 200 hours Actual direct manufacturing labor rate $ 56 per hour 7) Calculate the total manufacturing costs of a job at 40 Philadelphia Company using actual costir 8) Calculate the total manufacturing costs of a job at 40 Philadelphia Company using normal costa Rhett Corporation provides the following information for 2020:Budgeted manufacturing overhead costs $1,200,000Budgeted direct manufacturing labor-hours 20,000 hoursActual manufacturing overhead costs $1,250,000Actual direct manufacturing labor-hours 25,000 hours201.200100The following information for a job at 40 Philadelphia Company:250,00Actual direct materials costs $ 6,000Actual direct manufacturing labor 200 hoursActual direct manufacturing labor rate $ 56 per hour7) Calculate the total manufacturing costs of a job at 40 Philadelphia Company using actual costir8) Calculate the total manufacturing costs of a job at 40 Philadelphia Company using normal cost9) Which of the following statements about normal costing is true?A) Direct costs and indirect costs are traced using an actual rate.B) Direct costs and indirect costs are traced using budgeted rates.C) Direct costs are traced using a budgeted rate, and indirect costs are allocated using an actD) Direct costs are traced using an actual rate, and indirect costs are allocated using a budge10) Actual costs are:A) the costs incurredB) budgeted costsC) estimated costsD) forecAnswer the following questions (11-14) using the information below:X corporation produces and sells a decorative pillow. In 2020, it produced 2,000 units an1,750 at an average selling price of $75 per unit. The following additional informationrcorporation for 2020:Beginning inventoryVariable manufacturing costsVariable marketing costsFixed manufacturing costsAdministrative expenses, all fixed$20.00 per unit$ 3.00 per unit$ 7.00 per unit$15.00 per unit11) What is cost of goods sold per unit using variable costing?B) $23A) $20C) $30D) $4512) What is cost of goods sold using absorption costing?B) $40,000C) $47,250A) $35,000D) $54,00013) What is contribution margin using variable costing?B) $91,000C) $104,000A) $96,250D) $110,00014) What is operating income using variable costing?A) $52,500B) $78,750C) $65,750D) $47,00015) Budgeted costs are:A) the costs incurred this yearC) predicted or forecasted costsB) the costs incurred lasD) competitor's costs- sector companies purchase materials and components and conve16),goods.A) MerchandisingC) ManufacturingB) ServiceD) Professional

Name: Rhett Corporation provides the following information for 2020: 20 Budg
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Rhett Corporation provides the following information for 2020: 20 Budgeted manufacturing overhead costs $1,200,000 Budgeted direct manufacturing labor-hours 20,000 hours Actual manufacturing overhead costs $1,250,000 Actual direct manufacturing labor