Need help with this question solution general accounting Riverside Industries reports the following information regarding itsproduction cost:| Units produced | 15,000 units || Direct labor | $18.75 per unit || Direct materials | $21.40 per unit || Variable overhead | $186,000 in total || Fixed overhead | $105,000 in total |Compute the production cost per unit under absorption costing.

Step 1: Definition of Absorption CostingAbsorption costing is a method of accounting that includes…

Answered: Riverside Industries reports the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

See similar textbooks

Similar questions

Cool Pool has these costs associated with production of 20,000 units of accessory products: direct materials, $70; direct labor, $110; variable manufacturing overhead, $45; total fixed manufacturing overhead, $800,000. What is the cost per unit under both the variable and absorption methods?
The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
Rocks Industries has two products. They manufactured 12,539 units of product A and 8.254 units of product B. The data are: Â What is the activity rate for each cost pool?
Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases: A. Total direct materials cost B. Electricity costs of 1,000 per month plus 0.10 per kilowatt-hour C. Per-unit cost of straight-line depreciation on factory equipment D. Salary of quality control supervisor, 20,000 per month E. Per-unit direct labor cost
Webber fabricating estimated the following solve this question ❓
For the indicated units produced, South-western, Inc. reported the costs shown below: Units produced: 9,200 2,700 Total direct material: $268,640 $78,840 Total direct labor: $322,920 $94,770 Total manufacturing overhead: $1,075,616 $870,866 Part A: South-western, Inc.'s variable manufacuring cost per unit for is closest to: $95.80 $64.30 $29.20 $31.50 $66.60 Part B: South-western, Inc. 's fixed manufacuring cost is: $1,355,826 $785,816 $1,667,176 $1,044,476 Part C: at a level of 6,000 units, South-western, Inc.'s total manufacuring cost would be: $2,321,058 $1,087,289 $1,704,174 $1,360,616
Edney Company employs a standard cost system for product costing. The per-unit standard cost of its product is: Raw materials Direct labor (2 direct labor hours x $8.00 per hour) Manufacturing overhead (2 direct labor hours x $14.20 per hour) Total standard cost per unit The manufacturing overhead rate is based on a normal capacity level of 600,000 direct labor hours. (Normal capacity is defined as the level of capacity needed to satisfy average customer demand over a period of two to four years. Operationally, this level of capacity would take into consideration sales trends and both seasonal and cyclical factors affecting demand.) The firm has the following annual manufacturing overhead budget: Variable Fixed $ 4,560,000 3,960,000 $ 8,520,000 Edney incurred $436,550 in direct labor cost for 55,100 direct labor hours to manufacture 26,000 units in November. Other costs incurred in November include $356,000 for fixed manufacturing overhead and $387,000 for variable manufacturing…
Jones Company has the following information: Total estimated manufacturing $200,000 overhead costs Total estimated direct labor costs 800,000 Actual direct labor costs 50,000 Actual manufacturing overhead 210,000 costs What is the predetermined overhead allocation rate based on direct labor costs as a single plantwide rate?
Hakara Company has been using direct labor costs as the basis for assigning overhead to its many products. Under this allocation system, product A has been assigned overhead of $26.87 per unit, while product B has been assigned $7.62 per unit. Management feels that an ABC system will provide a more accurate allocation of the overhead costs and has collected the following cost pool and cost driver information: Cost Pools Activity Costs $ 415,000 120,000 44,000 The following cost information pertains to the production of A and B, just two of Hakara's many products: Machine setup Materials handling Electric power Number of units produced Direct materials cost Direct labor cost Number of setup hours Pounds of materials used Kilowatt-hours Product A Product B A 5,000 $ 22,000 $ 39,000 Cost per Unit Cost Drivers Setup hours Pounds of materials Kilowatt-hours 200 2,000 4,000 B 20,000 $ 26,000 $ 37,000 Activity Driver Consumption 5,000 15,000 22,000 200 2,000 4,000 Required: 1. Use…
Abbott Company's manufacturing overhead is 20% of its total conversion costs. If direct labor is P38,000 and if direct materials are P47,000, compute the values of the following: • manufacturing overhead • conversion cost • prime cost
Borden Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs and its activity based costing system: Overhead Costs: Indirect labor $ 245,000 Depreciation 205,000 Utilities 137,000 Total $ 587,000 Distribution of resource consumption: Activity Cost Pools Assembly Setting Up Other Total Indirect labor 55 % 20 % 25 % 100 % Depreciation 25 % 35 % 40 % 100 % Utilities 20 % 40 % 40 % 100 % How much overhead cost, in total, would be allocated to the Setting Up activity cost pool?

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

SEE MORE TEXTBOOKS