The accounting records of Intel Manufacturing revealed the following costs: Direct materials used Direct labor Manufacturing overhead $185,000 $342,000 $419,000 Selling and expenses administrative $276,000 Intel's product costs total

The accounting records of Intel Manufacturing revealed the following costs: Direct materials used Direct labor Manufacturing overhead $185,000 $342,000 $419,000 Selling and expenses administrative $276,000 Intel's product costs total

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 10E: Costs per equivalent unit Georgia Products Inc. completed and transferred 89,000 particle board...

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Activity Cost Pool Cost Driver EstimatedOverhead Use perProduct A Use perProduct B Machine Setups Setups $144,000 6,000 2,000 Assembly Number of Parts 71,000 25,000 46,000 Machine Maintenance Machine Hours 200,000 13,000 37,000 Compare the overhead allocation using (A) the traditional allocation method and (B) the activity-based costing method. (Hint: the traditional method uses machine hours as the allocation base.) For those boxes in which you must enter subtractive or negative numbers use a minus sign.
Activities and Activity Measures Expected Activity Estimated Overhead Costs Product 1 Product 2 Hand-processing (direct labor-hours) $ 320,000 45,000 55,000 Setting up equipment (number of setups) 150,000 9,000 21,000 Administering parts inventories (number of part types) 30,000 110 90 $ 500,000 Transformation Corporation has provided the information set forth above regarding the overhead to be allocated between the two products it produces: CDE and EFG. What is the activity rate for the hand-processing units activity? multiple choice $3.20 per setup Incorrect $5.00 per setup $150.00 per part-type $3.20 per direct labor-hour
What is the Manufacturing overhead allocated?
Assume the following information pertaining to Star Company: Prime costs $ 198,500 Conversion costs 228,000 Direct materials used 87,450 Beginning work in process 101,150 Ending work in process 82,400 Direct labor used is calculated to be:
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $2.30 and $1.85, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 1,500 Started and completed during October 30,000 30,000 Transferred out of Rolling (completed) 30,000 31,500 Inventory in process, October 31 3,000 1,800 Total units to be assigned costs 33,000 33,300 The beginning work in process inventory on October 1 had a cost of $920. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production 181,000 x Inventory in process, October 31 Total costs assigned by the Rolling Department Feedback TCheck My Work The assumption would be that units that had been in beginning work in…
Direct materials used in production 187,200 Total manufacturing costs during the period Ending balance in Work in Process Manufacturing overhead 64,100 Direct materials purchased 341,000 23,100 188,600 How much is the direct labor cost?
Calculating Departmental Overhead Rates Using Post-Allocation Costs Valron Company has two support departments, Human Resources and General Factory, and two producing departments, Fabricating and Assembly. Support Departments Producing Departments HumanResources GeneralFactory Fabricating Assembly Direct costs $160,000 $320,000 $114,500 $96,000 Normal activity: Number of employees ― 75 35 65 Square footage 1,600 ― 3,750 11,250 The costs of the Human Resources Department are allocated on the basis of number of employees, and the costs of General Factory are allocated on the basis of square footage. Valron Company uses the direct method of support department cost allocation. Solve for the allocated costs to Fabricating and Assembly using the direct method of support department cost allocation. The Fabricating Department overhead rate is based on normal activity of 85,000 machine hours. The Assembly Department…
Bledsoe Corporation has provided the following data for the month of November: Ending $ 21,100 $ 10,100 $ 56,100 Inventories Beginning $ 25,100 $ 17,100 $ 48,100 Raw materials Work in process Finished Goods Additional information: $ 72,100 $ 92,100 $ 42,110 $ 4,010 $ 41,100 Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Complete this question by entering your answers in the table below. Schedule of Schedule of COGM COGS Prepare a Schedule of Cost of Goods Sold. -....................................................... ................... BLEDSOE CORPORATION Schedule of Cost of Goods Sold Beginning finished goods inventory Cost of goods available for…
IMAGE (A) Category Unit Batch Product Facility Total Pooled Cost Types of Costs $ 388,000 Indirect labor wages, supplies, factory utilities, machine maintenance 215,400 Materials handling, inventory storage, labor for setups, packaging, labeling and shipping, scheduling Research and development 112,600 307,000 Machine hours Cost Driver Number of production orders Time spent by research department Rent, general utilities, maintenance, facility depreciation, Square footage administrative salaries IMAGE (B) Direct materials cost Direct labor cost Number of labor hours Number of machine hours Number of production orders Research and development time Number of units Square footage Type of Product Total Cost Cost per Unit a Commercial a. Home a. Miniature Combined total $ 0 b. Commercial b. Home b. Miniature Combined total $ 0 Commercial $25.07 per unit $ 10.35 per hour 6,000 10,000 Home Miniature Total $15.07 per unit $ 8.35 per hour $12.07 per unit $9.35 per hour 12,000 2,000 45,000 25,000…
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 5,000 units, 65% completed 18,375 To Finished Goods, 115,000 units ? Direct materials, 118,000 units @ $1.4 165,200 Direct labor 310,100 Factory overhead 120,630 Bal., ? units, 20% completed ? Cost per equivalent units of $1.40 for Direct Materials and $3.80 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period $ 2. Cost of units transferred to finished goods during the period $ 3. Cost of ending work in process inventory $ 4. Cost per unit of the completed beginning work in process…
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 7,000 units, 35% completed 15,225 To Finished Goods, 161,000 units Direct materials, 165,000 units @ $1.3 214,500 Direct labor 318,900 Factory overhead 124,035 Bal. ? units, 50% completed a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. $ 1. Cost of beginning work in process inventory completed this period. $ 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? c. Assuming that the direct materials…
евоок Calculator Print Item Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 8,000 units, 40% completed 22,880 To Finished Goods, 184,000 units Direct materials, 188,000 units @ $1.5 282,000 Direct labor 494,400 Factory overhead 192,320 Bal. ? units, 40% completed a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period. 2. Cost of units transferred to finished goods during the period. $4 3. Cost of ending work in process inventory. %$4 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? c.…