Test yourself ABC Company is producing three products, A, B and C in Direct labor hours their unit. A В 10,000 15,000 25,000 Number of orders 15 25 10 placed During the year 2019,the total overhead expenses Machine set up hours 150 300 50 are; Requirement 1. Calculated pre-determined overhead rate if overhead is applied based on the direct labor hours .Compute overhead rates using activity based costing. Determine the Procurement cost RO200,000 Machine set up cost RO100,000 difference in the amount of overhead allocated to each product between the two methods.

Test yourself ABC Company is producing three products, A, B and C in Direct labor hours their unit. A В 10,000 15,000 25,000 Number of orders 15 25 10 placed During the year 2019,the total overhead expenses Machine set up hours 150 300 50 are; Requirement 1. Calculated pre-determined overhead rate if overhead is applied based on the direct labor hours .Compute overhead rates using activity based costing. Determine the Procurement cost RO200,000 Machine set up cost RO100,000 difference in the amount of overhead allocated to each product between the two methods.

Name: Test yourselfABC Company is producingthree products, A, B and C in Di
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Description: Test yourselfABC Company is producingthree products, A, B and C in Direct labor hourstheir unit.AВC10,00015,00025,000Number of orders152510placedDuring the year 2019,thetotal overhead expensesMachine set up hours15030050are;Requirement1. Calculated

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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When setting its predetermined overhead application rate. Tasty Turtle estimated its overhead would be $75,000 and manufacturing would require 25,000 machine hours in the next year. At the end of the year, it found that actual overhead was $74,000 and manufacturing required 24,000 machine hours. Determine the predetermined overhead rate. What is the overhead applied during the year? Prepare the journal entry to eliminate the under- or over applied overhead.
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?
Title Brahtz Company uses an activity-based costing system. It has the following manufacturing activity ar Description Brahtz Company uses an activity-based costing system. It has the following manufacturing activity areas, related cost drivers and cost allocation rates:ActivityCost DriverCost Allocation RateMachine setupNumber of setups$25.00Materials handlingNumber of parts0.25MachiningMachine hours13.00AssemblyDirect labor hours22.00InspectionNumber of finished units7.00During the month, 100 units were produced, with no defects, requiring three setups. Each unit consisted of 17 parts, 3 direct labor hours and 2.5 machine hours. Direct materials cost $50 per finished unit.What is the total manufacturing cost for inspections?$-0-$700$90$7
Test yourself ABC Company is producing three products, A, B and C in Direct labor hours their unit. A C 10,000 15,000 25,000 Number of orders 15 25 10 placed During the year 2019,the total overhead expenses Machine set up hours 150 300 50 are; Requirement 1. Calculated pre-determined overhead rate if overhead is applied based on the direct labor hours Procurement cost RO200,000 Machine set up cost RO100,000 2. Compute overhead rates using activity based costing. 3. Determine the difference in the amount of overhead allocated to each product between the two methods.
FI Pittman Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Pittman for 2020 are as follows: (Click the icon to view the T-accounts.) i (Click the icon to view the additional information.) Read the requirements. Requirement 1. What was the amount of direct materials issued to production during 2020? Direct materials issued to production during 2020 was T-accounts Direct Materials Control 40,000 1-1-2020 139,000 Manufacturing Overhead Control 512,000 Work-in-Process Control 230,000 1-1-2020 Dir. Manuf. labor 40,000 Print 350,000 Manufacturing Overhead Allocated Done Finished Goods Control 8,000 1-1-2020 923,380 Cost of Goods Sold - 758,100 X More Info a. Direct manufacturing labor wage rate was $10 per hour. b. Manufacturing overhead was allocated at $13 per direct manufacturing labor-hour. 4. 5. C. Requirements 6. 7. During the year, sales revenues were $1,060,000, and marketing and distribution costs were $128,000. 1.…
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Subject: acounting
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