Standard Product Cost Santa Clara Furniture Company manufactures designer home furniture. Santa Clara uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: $21.00 per hr. 3.50 hrs. $11.50 per bd. ft. 20 bd. ft. $2.80 per direct labor hr. $0.80 per direct labor hr. a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. per dining room table Direct materials (oak): Variable factory overhead: Fixed factory overhead: standard rate standard time per unit standard price standard quantity standard rate standard rate < b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of this principle, cost deviations from standards can be investigated and corrected. Using

Standard Product Cost Santa Clara Furniture Company manufactures designer home furniture. Santa Clara uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: $21.00 per hr. 3.50 hrs. $11.50 per bd. ft. 20 bd. ft. $2.80 per direct labor hr. $0.80 per direct labor hr. a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. per dining room table Direct materials (oak): Variable factory overhead: Fixed factory overhead: standard rate standard time per unit standard price standard quantity standard rate standard rate < b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of this principle, cost deviations from standards can be investigated and corrected. Using

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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1. Calculate the overhead rate based on the traditional overhead allocation method using direct labour hours as the base. 2. Calculate the total overhead applied to order no. 147 using the traditional overhead rate calculated in question 3.1 above. 3. Using activity based costing (ABC), calculate the overhead rate for the following activity: Purchasing. That is, what is the overhead rate per purchase order?
Z Company uses activity based costing and gives you the following data regarding cost pools and estimated overhead cost for each pool. Machine related RO 80,000 Material handling RO 130,000 Purchase related RO 340,000 General factory RO 320,000 The amount of total estimated overhead is: a. RO 660,000 b. RO 550,000 c. RO 790,000 d. RO 870,000 fast just choose
Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $20.00 per hr. standard time per unit 3.00 hrs. Direct materials (oak): standard price $10.00 per bd. ft. standard quantity 18 bd. ft. Variable factory overhead: standard rate $2.80 per direct labor hr. Fixed factory overhead: standard rate $1.20 per direct labor hr. a. Determine the standard cost per dining room table. If required, round your answer to two decimal places.$fill in the blank 1 per dining room table b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of cost control . Using this principle, minor cost deviations from standards can be investigated and corrected.
Standard Cost Journal Entries Bellingham Company produced 4,400 units that require eight standard pounds per unit at a $8 standard price per pound. The company actually used 36,300 pounds in production. Journalize the entry to record the standard direct materials used in production. If an amount box does not require an entry, leave it blank.
Compute the predetermined overhead rate assuming that Tiger Furnishings uses direct labor costs to allocate overhead costs.
Accounting
Lifestyle Roofing uses job order costing and applies manufacturing overhead too individual projects using predetermined overhead rates. In the Installation Division, overhead is applied on the basis of direct labour hours, and in the Disposal Division, overhead is applied on the basis of debris tonnage hauled to the landfill. At the beginning of the current year, management made the following budget estimates to determine overhead application rates Annual Estimates Manufacturing overhed Drectors Tons of Debris Job #652 for Bees Grocery measured 8,348 square feet. The job was started and completed in May. Information pertaining to this project is provided below 30 no 652.348 squ Cost of Drect box cost Dit hours Tons of debris Installation Disposal $150.000 $20.000 $100.000 $36.000 25.000 10.000 0 use on job Instalation Disposal $30.000 $1.000 $7,800 $100 250 d. Assume that actual overhead costs for the year were $98,000 in the installation Division, and $41,000 in the Disposal Division.…
Sunland Furniture Company manufactures living room furniture through two departments: Framing and Upholstering. The company uses the weighted-average method. Materials are entered at the beginning of each process. For May, the following cost data are obtained from the two work in process accounts. Work in process, May 1 Materials Conversion costs Costs transferred in Costs transferred out Work in process, May 31 (a) Framing 407,000 Save for Later $0 168.000 Answer the following questions. 320,000 0 114,000 Unit cost of materials for May Upholstering $ $? ? 320,000 320,000 If 3,700 sofas were started into production on May 1 and 2,000 sofas were transferred to Upholstering, what was the unit cost of materials for May in the Framing Department? ? ? Attempts: 0 of 1 used Submit Answer
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