The following cost relate to COBEED for the year: Distribution Cost 123,000 Direct Materials 234,000 Conversion cost 456,000 Factory overhead 111,000 Compute for total prime cost:
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The following cost relate to COBEED for the year:
Distribution Cost 123,000
Direct Materials 234,000
Conversion cost 456,000
Factory
Compute for total prime cost:
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- Department W had 2,460 units, one-third completed at the beginning of the period; 12,500 units were transferred to Department X from Department W during the period; and 1,500 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. The equivalent units of production used to compute unit conversion cost on the cost of production report for Department W, assuming the company uses FIFO, areAt the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000 At the end of year, the actual results were as follows - Production - 73,000 units Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308 Direct Labor - 179,580 hours at a cost of $3,968,718 Variable Overhead - 133,590 machine hours at a cost of $558,406.20 Fixed Overhead - $891,0001) Department W had 2,160 units, one-third completed at the beginning of the period. 13,000 units were transferred to Department X from Department W during the period, and 1,550 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. 12,280 units b.10,840 units c.16,710 units d.13,055 units 2) If the contribution margin ratio for France Company is 39%, sales were $424,000, and fixed costs were $105,000, what was the income from operations? a.$60,360 b.$48,288 c.$105,000 d.$165,360
- In the manufacture of 9,400 units of a product, direct materials cost incurred was $177,400, direct labor cost incurred was $106,100, and applied factory overhead was $43,600. What is the total conversion cost? Oa..$149,700 Ob. $327,100 Oc. $43,600 Od. $177,400Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Blackrock Steel Company is $625,500. The conversion cost for the period in the Rolling Department is $157,680. The total equivalent units for direct materials and conversion are 13,900 tons and 13,140 tons, respectively.Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit:Conversion costs per equivalent unit:per tonThe Baker Company manufactures a product in a single process. The following information isavailable:Input material 5,000 kilos valued at $18,000Material added $4,000Direct labour cost incurred $14,000Manufacturing overhead incurred $20,500Normal losses 10% of inputScrap value of losses $5.00 per unitUnits completed and transferred out 4,300 unitsi) Calculate the cost per completed unitii) What is the value of the units completed and transferred to finished goods?iii) What is the value of the unexpected losses?iv) What is the manufacturer’s true loss?v) Prepare the journal entries necessary to record the assignment of direct materials anddirect labour and the allocation of manufacturing overhead to the process. Also, give thejournal entries for the transfer of units completed to Finished Goods Inventory.
- Compute conversion costs given the following data: direct materials, $353,800; direct labor, $206,900; factory overhead, $205,600 and selling expenses, $47,600. Oa. $559,400 Ob. $158,000 Oc. $412,500 Od. $766,300In the manufacture of 9,700 units of a product, direct materials cost incurred was $171,100, direct labor cost incurred was $108,700, and applied factory overhead was $44,500. The total conversion cost is a. $324,300 b. $153,200 c. $44,500 d. $171,100Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Blackrock Steel Company is $625,500. The conversion cost for the period in the Rolling Department is $157,680. The total equivalent units for direct materials and conversion are 13,900 tons and 13,140 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: Conversion costs per equivalent unit: per ton per ton
- Work in Process—Assembly Department Bal., 3,000 units, 35% completed 7,395 To Finished Goods, 69,000 units ? Direct materials, 71,000 units @ $1.8 127,800 Direct labor 100,700 Factory overhead 39,200 Bal., ? units, 40% completed ? Cost per equivalent units of $1.80 for Direct Materials and $2.00 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 inventory (Rounded to the nearest cent.) $ b. Did the production costs change from the preceding period?Yes c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit…Assume that Swifty has identified three activity cost pools.Information on equivalent production quantities and unit equivalent product costs of the production phase in a production company that applies the phase cost system are as follows: Production Completed and Transferred Equivalent Production Quantity: 30,000 Units Period End Stocks of Semi-finished Products Equivalent Production Quantity: Direct Primary Material and Material: 9.000 Units Equivalent Production Quantity: Direct Labor: 8,000 Units Equivalent Production Amount: General Production Expenses: 8.000 Units Unit equivalent product costs are 0.7 TL for direct raw materials and materials, 0.3 TL for direct labor and 0.5 TL for general production expenses. According to this information, what is the share of the total cost of the end-of-period semi-finished products? a) 2,400 TL B) 45.000 TL NS) 6.300 TL D) 12,700 TL TO) 4,000 TL