Sheffield Company had the following department information for the month: Total materials costs Equivalent units of production for materials Total conversion costs Equivalent units of production for conversion costs What is the total manufacturing cost per unit? O $3.20. O $7.90. O $4.70. $3.63. $47000 10000 $80000 25000

Sheffield Company had the following department information for the month: Total materials costs Equivalent units of production for materials Total conversion costs Equivalent units of production for conversion costs What is the total manufacturing cost per unit? O $3.20. O $7.90. O $4.70. $3.63. $47000 10000 $80000 25000

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

Cost per Equivalent Unit—FIFO Method Superior Micro Products uses the FIFO method in its process costing system. Data for the Assembly Department for May appear below: Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total.
e R Company has the following production information available for June: Total materials costs Equivalent units of materials Total conversion costs Equivalent units of conversion costs What is the total manufacturing cost per unit? O a. $14.00 O b. $6.00 O c. $6.67 O d. $8.00 ment 3-Group Assignment on Job here to search O $ 80,000 10,000 $120,000 20,000 II O 6 Accianmont 4. Final
Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10060. All amounts are in OMR. |Total Costs |500000 Variable Cost ? | 400000 Fixed Cost |Direct material cost |Total labor cost |Manufacturing Overhead ? 100000 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y =f+ vX, D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $15 per DLH 3 DLH @$13 per DLH Actual Results 62,100 pounds @ $8.10 per pound 26,000 hours @ $15.50 per hour $ 349,600 8,800 units Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH=Standard Hours AR = Actual Rate SR Standard Rate Actual Cost $ 0 $ 00 0 0 $ 0 Standard Cost
Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost 500000 ? ? Total labor cost ? 400000 100000 Manufacturing Overhead 90000 30000 ? Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y = f + vX. D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month Question 6: Find the missing information for different companies Output (units) Fixed Costs Variable Costs Total Costs Cost per unit Company A 4000 70000 50000 ? ? Company B 5000 80000 ? 140000 ? Company C 8000 30000 130000 ? ? Company D ? ? 80000 100000 20
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 62,900 pounds @ $8.20 per pound 26,500 hours @ $16.50 per hour 8,900 units $ 325,700 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH Actual Hours SH Standard Hours Standard Rate AR Actual Rate SR Actual Cost G < Prev 8 of 8 Next Standard Cost
Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 5 pounds $ 11.00 per pound $ 55.00 Direct labor 2 hours $ 17.00 per hour $ 34.00 Variable manufacturing overhead 2 hours $ 3.80 per hour $ 7.60 During the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. All of the material that was purchased was used to produce 3,900 units. 8,000 direct labor-hours were recorded at a total cost of $132,000. The actual variable overhead cost incurred during the period was $25,000. Assuming the company uses direct labor-hours to compute its predetermined overhead rate, what is the variable overhead efficiency variance?
Q8. Bruce Company uses the weighted-average method in its process costing system. Information concerning Department A for the month of June as follows: Units Materials Costs Work in process, beginning 17,000 £12,800 Started in June 82,000 £69,700 Units completed 85,000 Work in process, ending 14,000 All materials are added at the beginning of the process. Compute the cost per equivalent unit for materials costs. A £0.83 B £0.90 C £0.93 D £1.01
Sheffield Manufacturing Company collected the following production data for the past month: Units Total Produced Cost 1600 $70500 1290 62130 1460 73000 1100 55000 If the high-low method is used, what is the monthly total cost equation? O Total cost - $0 + $50/unit O Total cost - $15400 + $36/unit O Total cost - $20900 + $31/unit O Total cost -$25300 + $27/unit
Costing information for Emily Elephant Limited is as follows:Direct material cost per unitDirect labour cost per unitVariable manufacturing overhead cost per unitVariable selling and administrative overhead cost per unitFixed manufacturing overhead for the year£41 £43£6£4£44,000Budgeted production for the year was 4,000 units. What is the budgeted unit product cost according to an absorption costing system? a. £90 b. £101 c. £105d. £94
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 62,900 pounds @ $8.20 per pound 26,500 hours @ $16.50 per hour $ 325,700 8,900 units (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total S
rr