Simkin Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Wait time Process time Inspection time Move time Queue time The manufacturing cycle efficiency (MCE) was closest to: (Round your intermediate calculations to 1 decimal place.) Multiple Choice O 0.51 O 0.10 Hours 20.8 2.5 0.3 2.9 5.0 0.15

Simkin Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Wait time Process time Inspection time Move time Queue time The manufacturing cycle efficiency (MCE) was closest to: (Round your intermediate calculations to 1 decimal place.) Multiple Choice O 0.51 O 0.10 Hours 20.8 2.5 0.3 2.9 5.0 0.15

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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From your readings and videos, you learned about cost estimation using the high low method. A company has captured two sets of data to estimate maintenance cost. Using the information below, estimate total maintenance should activity level reach 8,700 machine hours. Machine Maintenance Hours Cost per Machine Hour 10,000 8,000 $0.20 $0.25 Hi Low Select one: O a, $3,450 O b. $2,450 O c. $1,000 O d. $2,000 O e. $500
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Oakwood Creations Company makes decorative candle pedestals. An industrial engineer consultant developed ideal time standards for one unit of the Berkley model pedestal. The standards follow, along with the cost accountant's determination of current labor pay rates: Worktype 1 Worktype 2 Worktype 3 0.16 hour @ $12.28 per hour 0.34 hour @ $10.93 per hour 0.63 hour @ $19.57 per hour Required: a. Using the preceding data, calculate the direct labor cost for a Berkley model pedestal. b. Would it be appropriate to use the cost calculated in part a as a standard cost for evaluating direct labor performance and valuing inventory? Complete this question by entering your answers in the tabs below. Required A Required B Using the preceding data, calculate the direct labor cost for a Berkley model pedestal. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. Direct labor cost
Requirement 1. Record Brookman's direct labor journal entry (use Wages Payable). Journalize the incurrence and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanations on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit - X Data Table AC x AQ SC x AQ SC x SQ $13.00 per DLHr $16.00 per DLHR $16.00 per DLHr 1,650 DLHF 1,650 DLHR 1.200 DLHr $21,450 $26.400 $19,200 Requirements 1. Record Brookman's direct labor journal entry (use Wages Payable). 2. Explain what management will do with this variance information. Cost Efficiency Variance Variance $4.950 F S7,200 U Print Done Print Done
11. Diorio Corporation keeps careful track of the time required to fill orders. The times recorded for a particular order appear below. What was the manufacturing cycle efficiency (MCE) closest to? Hours Move time 2.7 Wait time 21.1 Queue time 5.3 Process time 1.4 Inspection time 0.1 A. 0.05 В. 0.45 С. 0.18 D. 0.15
Convert the accompanying database to an excel table to find: a. The total cost of all orders b. The total quantity of airframe fasteners purchased. c. The total cost of all orders placed with Manley Valve.
***NEED HELP UNDERSTANDING HOW TO GET THE LABOR AND OVERHEAD Eugene’s Wildlife manufactures two unique birdfeeders (Deluxe and Super Duper) that are manufactured and assembled in up to three different workstations (X, Y, Z) using a small batch process. Each of the products is produced according to the following flowchart. Additionally, the flowchart indicates each product’s price, weekly demand, and processing times per unit. Batch setup times are negligible. Eugene’s Wildlife can make and sell up to the limit of its weekly demand and there are no penalties for not being able to meet all the demand. Each workstation is staffed by a worker who is dedicated to work on that workstation alone and is paid $16 per hour. The plant operates 40 hours per week, with no overtime. Overhead costs are $2,000 per week. Based on the information provided, as well as the information contained in the flowchart, answer the following questions. a) Using the traditional method, which bases decisions solely…
Oakwood Creations Company makes decorative candle pedestals. An industrial engineer consultant developed ideal time standards for one unit of the Berkley model pedestal. The standards follow, along with the cost accountant's determination of current labor pay rates: Worktype 1 Worktype 2 Worktype 3 0.18 hour @ $12.31 per hour 0.32 hour @ $10.89 per hour 0.62 hour @ $19.65 per hour Required: a. Using the preceding data, calculate the direct labor cost for a Berkley model pedestal. b. Would it be appropriate to use the cost calculated in part a as a standard cost for evaluating direct labor performance and valuing inventory? Complete this question by entering your answers in the tabs below. Required A Required B Would it be appropriate to use the cost calculated in part a as a standard cost for evaluating direct labor performance and valuing inventory? Would it be appropriate to use the cost calculated in part a as a standard cost for evaluating direct labor performance and valuing…
If Toyota Motor Company receives an order on May 1, begins production on May 19, and ships the order on May 24 immediately following production, then what is the manufacturing cycle efficiency (MCE) ratio? (Enter your answer as a whole number.) Manufacturing cycle efficiency (MCE)atio %
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