General Accounting question Scanlon Division manufactured 3,000 units of Product Z duringthe year; costs are as follows:Direct materialsDirect laborIndirect materials and labor$250,000200,00040,000Depreciation on plant and equipment 20,000Total$510,000The product unit cost for Product Z this year is:a. $150b. $152.c. $163.d. $170.e. none of the above.

Step 1: Define Product CostManufacturing Cost is also called the product cost. These costs include…

Answered: Scanlon Division manufactured 3,000…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 8EB: A production department within a company received materials of $7,000 and conversion costs of $5,000...

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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?
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
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am. 129.
Kimber Company has the following unit costs for the current year: Raw materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total unit cost $20.00 25.00 10.00 15.00 $70.00 Fixed manufacturing cost is based on an annual activity level of 8,000 units. Based on these data, the total manufacturing cost expected to be incurred to manufacture 9,000 units in the current year is: Oa. $560,000. Ob. $615,000. Oc. $630,000. Od. $575,000.
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The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense P 435,000 215,000 190,000 185,000 1. What is Antonio's prime cost for last quarter? a. P460,000 b. P410,000 c. P405,000 d. P 375,000 2. Antonio's total manufacturing cost is a. P460,000 b. P 645,000 . P 650,000 d. P 840,000
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Camire GmbH had the following costs at the stated production volumes: Production volume: 1,200 5,600 $10,320 $48,160 $19,800 $92,400 Manufacturing overhead: $578,987 $608,027 Part A: The best estimate of fixed manufacuring cost for Camire GmbH is: $678,847 $571,067 $748,587 O $609,107 Direct material: Direct labor: Part B: The best estimate of variable manufacuring cost per unit for Camire GmbH is: O $31.70 $25.10 $8.60 $6.60 O $23.10 Part C: The best estimate of Camire GmbH's total manufacuring cost at a level of 3,500 is: O $1,776,562 $467,867 $1,122,214 $682,017
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The Pritchert Company recorded the following manufacturing costs in the accounting period just ended: Direct materials $20,000 Direct labour $40,000 Manufacturing overhead $50,000 Selling and administrative costs $24,000 Pritchert Company’s conversion cost would be a.$56,000 b.$90,000 c.$50,000 d.none of these e.$124,000
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials$ 16,700Indirect labor147,000Property taxes, factory9, 700Utilities, factory87, 000Depreciation, factory273, 900Insurance, factory 11, 700 Total actual manufacturing overhead costs incurred$ 546, 000Other costs incurred: Purchases of raw materials (both direct and indirect)$ 417,000Direct labor cost$ 77,000Inventories: Raw materials, beginning$ 21, 700Raw materials, ending$ 31, 700 Work in process, beginning$ 41, 700Work in process, ending$ 71, 700 The company uses a predetermined overhead rate of $26 per machine - hour to apply overhead cost to jobs. A total of 21,400 machine - hours were used during the year. Required:1. Compute the amount of underapplied or overapplied overhead cost for the year.2. Prepare a schedule of cost of goods manufactured for the year.

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