The following information belongs to Magaling Company that uscs a standard costing system: Basic wage rate: Php 12/hr Fringe benefits: Php 2/hr Basic time: 2 hrs / unit Allowance for down time: 0.3 hrs/unit Allowance for brakes: 0.2 hrs/u Based on the above information, what is the standard direct labor cost per unit?

Q: What is equivalent production? Explain in terms of its effect on computed unit costs.

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: How does a product cost differ from a general, selling, and administrative cost? Give examples of…

A: Product Cost: Product costs are the expenses directly associated with making a particular product.…

Q: January 1, 2020 December 31, 2020 Direct materials $40,000 $60,000 Work in process 80,000 50,000…

A: Direct material used = Beginning Direct material + Direct material purchased -  ending Direct…

Q: What are the three types of manufacturing cost?

A: Manufacturing cost: Manufacturing cost is the sum total of various costs used or incurred in the…

Q: how do I find direct cost per unit

A: Direct Cost A direct cost is a price that is directly associated with the production of particular…

Q: How does the unit cost of producing an item depend on the total quantity of items that have been…

A: Unit cost is the cost of producing per unit. Unit cost includes both variable and fixed cost that…

Q: What will the unit product cost under Full costing method.

A: Formula: Unit product cost = Direct material + Direct labor + Variable manufacturing overhead +…

Q: Which of the following is a carefully predetermined cost that is usually expressed on a per unit of…

A: Cost: In accounting, the cost is related to monetary value spend on raw material, services, and…

Q: how do I make a cost of production report?

A:

Q: What are the differences between a product cost and a period cost

A: In accounting we say that costs are often product costs or period costs. The difference between the…

Q: What is the relationship between total carrying cost and totalordering cost at the EOQ?

A: It indicates an inverse relationship between the cost of ordering and the cost of holding at…

Q: how to calculate average labor time?

A: Lets understand the basics. Direct material and direct labor is required to produce goods or…

Q: Need help to calculate the production cost per unit

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: what are the differences between the FIFO, LIFO, and the average cost?

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: What is a cost of production report and what information does it show?

A: Production means conversion of raw materials into finished goods and the process involved is…

Q: Could you help me find the activity cost per unit

A: Activity based costing is a method of costing wherein, the allocation of overheads involved in…

Q: How do I find the product cost per unit?

A: Product costing is the computation or determination of the total costs of the product that is…

Q: Clopack Company manufactures one product that goes through one processing department called Mixing.…

A: SOLUTION WORKING  1- BEGINNING INVENTORY UNITS 4200 ADD- UNITS ADDED CURRENTLY 36700 LESS-…

Q: Given the following information Beginning Work in Process Inventory (70% complete as to conversion)…

A: When weighted average process costing is used , then percentage completion of opening work in…

Q: How are costs assigned differently using the average cost method?

A: Inventory valuation is the valuation of inventory at the time of its purchase and sale using…

Q: Puget World, Incorporated, manufactures two models of television sets, the N 800 XL model and the N…

A: Introduction: Overhead costs are ongoing business expenses that aren't directly connected to…

Q: Define unit costs.

A: Unit cost is the cost incurred by the company in the production, storage and selling of one unit of…

Q: Cost per unit for material?

A: Weighted average method is one of the method of process costing. Under this method, equivalent units…

Q: Explain the difference between a product cost and a period cost.

A: Product costs: Product costs are the costs which are incurred in the production of the goods. These…

Q: DeForest Company had the following transactions for the month. Sales for the month are $85 per unit.…

A: The inventory valuation method is used to evaluate the closing inventory and cost of goods sold…

Q: Which of the following would be both a prime cost and a conversion cost? direct labor direct…

A: Process costing: Process costing is included costs like labor, material, and overhead which…

Q: The cost equation and the distinction between product and period costs are described

A: The cost equation and the distinction between product and period costs are described will be…

Q: Puget World, Incorporated, manufactures two models of television sets, the N 800 XL model and the N…

A: Unit production cost is the sum of unit direct material cost, unit direct labor cost, and unit…

Q: Which factors contribute to the cost of direct labor?

A: Direct labour refers to the labour which is directly related to the production of products of any…

Q: Consider the following transactions for DeTrees Company for the month shown in chronological order:…

A: The weighted average cost per unit is calculated as total cost divided by no. Of units.

Q: what is the weighted average cost per unit

A: The weighted average method of computing the ending inventory is used to calculate the cost of goods…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.