The indirect cost allocation rate must have been? General accounting The Chesapeake Organization reported $400,000 oftotal indirect costs for shipments. A product line thatused 6 shipments was allocated $2400 in indirectcosts for shipments. The indirect cost allocation ratemust have been:

Step 1: Define Allocating Manufacturing Overhead CostsThe total costs incurred by a manufacturing…

Answered: The Chesapeake Organization reported…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

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for XYZ company, the following information related to costs is available for the last quarter: direct materials $1,000, direct labor $3,000, variables MOH $200, fixed MOH $1,800 and selling and administrative expenses $3,000. the product cost under absorption costing is: a) $6000 b)4200 c)5800 d)9000
During the current period, 14,000 units were produced and 12,000 units were sold. Fixed manufacturing costs incurred amounted to $126,000. An absorption costing income statement would report fixed manufacturing costs as which of the following? Select one: a.Costs of $108,000 as a deduction from gross profit to obtain operating income b.Overhead of $126,000 as a deduction from sales revenue to obtain gross profit c.Overhead of $108,000 as a deduction from sales revenue to obtain gross profit d.Costs of $126,000 as a deduction from sales revenue to obtain contribution margin
For XYZ Company, the following information related to costs is available for the last quarter: direct materials $2,000, direct labor $3,000, variable MOH $400, fixed MOH $1,600 and selling and administrative expenses $3,000. The product cost under absorption costing is: O a. $10,000 O b. $5,40O O c. $6,600 O d. $7,000 O e. none of the given answers
Bramble Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 3.0 pounds at $4.50 per pound Direct labor per unit: 8.6 hours at $15.00 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $22.50 per direct labor hour Compute the standard cost of one unit of product I-Tal. (Round answer to 2 decimal places, e.g. 2.75.) Standard cost $ I Per Unit
Norred Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Cost per Cost per Unit Period $ 7.05 $ 3.70 $ 1.60 $ 1.50 $ 0.45 $121,500 Variable administrative expense Fixed selling and administrative expense $ 44,550 If 8,000 units are produced, the total amount of indirect manufacturing cost incurred is closest to:
Kesterson Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $ 6.30 $ 3.30 $ 1.25 $ 1.30 $ 0.60 Cost per Period $ 15,000 $ 4,200 If 7,000 units are produced, the total amount of indirect manufacturing cost incurred is closest to:
A company uses activity-based costing to calculate the unit cost of its products. The figures for Period 3 are as follows: Production set-up costs: £84,000. Total production is 40,000 units of each of products A and B, and each run is 2,000 units of A or 5,000 units of B. What is the set-up cost per unit of B? A. £0.10 B. £0.08 C. £0.60 D. £0.29
ABC Company uses activity-based costing to allocate MOH. The company has 2 products d and e. The annual production of sales of Product d are 1,000 units and product e is 3000 units. There are three activity cost pool of MOH with an estimated total cost of $69,000. What is the MOH cost per unit for product d under activity-based costing? Expected Activity (Allocation base) Total Activity Cost pool (for MOH) Activity 1 Activity 2 Activity 3 Estimated Cost of MOH Product d Product e $9000 500 500 1000 12000 200 200 500 48,000 500 1100 1600
Lagle Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Cost per Cost per Unit Period $ 4.70 $ 3.60 $ 1.40 $ 1.60 $ 0.50 $ 16,900 Variable administrative expense Fixed selling and administrative expense $ 3,000 For financial reporting purposes, the total amount of period costs incurred to sell 6,500 units is closest to:
Wildhorse Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 2.50 pounds at $4.40 per pound Direct labor per unit: 0.40 hours at $16.00 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $20.00 per direct labor hour Compute the standard cost of one unit of product I-Tal. (Round answer to two decimal places (e.g., 2.75).) Standard cost $
Lambeth Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Cost per Unit $ 4.90 $ 2.95 $ 1.25 $ 1.00 $ 0.40 Cost per Period $ 8,000 Variable administrative expense Fixed selling and administrative expense $ 4,000 If 3,000 units are produced, the total amount of indirect manufacturing cost incurred is closest to:
Cool Pool has these costs associated with production of 24,000 units of accessory products: direct materials, $65; direct labor, $105; variable manufacturing overhead, $55; total fixed manufacturing overhead, $1,080,000. What is the cost per unit under both the variable and absorption methods? Variable Absorption Method Method Cost per unit $

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The Chesapeake Organization reported $400,000 of total indirect costs for shipments. A product line that used 6 shipments was allocated $2400 in indirect costs for shipments. The indirect cost allocation rate must have been: