The following information is made available for October, what is the process quality yield?
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The following information is made available for October, what is the process quality yield?
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- Predetermined Overhead Rates, Overhead Variances, Unit Costs Primera Company produces two products and uses a predetermined overhead rate to apply overhead. Primera currently applies overhead using a plantwide rate based on direct labor hours. Consideration is being given to the use of departmental overhead rates where overhead would be applied on the basis of direct labor hours in Department 1 and on the basis of machine hours in Department 2. At the beginning of the year, the following estimates are provided: Department 1 Department 2 Direct labor hours 640,000 128,000 Machine hours 16,000 192,000 Overhead cost $384,000 $1,152,000 Actual results reported by department and product during the year are as follows: Department 1 Department 2 Direct labor hours 627,200 134,400 Machine hours 17,600 204,800 Overhead cost $400,000 $1,232,000 Product 1 Product 2…Which of the following activity bases would be appropriate to use for materials handling? A. Number of machine hours B. Number of material moves C. Number of production orders D. Kilowatt-hours usedThe financial director of SolarTech Ltd meets with the research director quarterly to compare actual and budgeted costs and follow up on any unexpected variances?
- Weighted Average Method, Single-Department AnalysisRefer to the information for Millie Company above.Required:Prepare a production report for the assembly department for June using the weighted averagemethod of costing. The report should disclose the physical flow of units, equivalent units, andunit costs and should track the disposition of manufacturing costs.BudgetThe variable overhead spending variance is most effective in measuring: O how well overhead spending matches the targets set in the original budget at the beginning of the year. O the efficiency with which the activity base was utilized in production. O the excessive use of overhead resources. O the utilization of plant facilities.
- The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost. Actual output What is the labor efficiency variance for the month? Multiple Choice O $26,008 F $26,008 U $22,360 F 7,400 hours $23,048 F $ 96,200 9.6 hours $13.40 per ho 950 units4. Compute the Material Price variance 5. Compute the Material Quantity variance 6. Compute the Total Labor variance 7. Compute the Labor Price variance 8. Compute the Labor Quantity variance 9. Compute the Total Manufacturing Overhead variance 10. Which variance(s) would be the responsibility of the Production Manager? 11. Which variance(s) would be the responsibility of the Purchasing Manager? Show all calculations for each item step-by-stepDaosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Required: Using the FIFO method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost Units started into production during the month Units completed and transferred out Costs added to production during the month: Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent…
- what is the formula to calcuate direct materials % added for beginning wip, started and completed and ending wip as well as converion percent for started nd completed.Question 3 A shoe company had the following journal entries recorded for the end of June. Materials Control 300,000 Direct Materials Price Variance 10,000 Accounts Payable Control 290,000 Work-in-Process Control 120,000 8,000 Direct Materials Efficiency Variance Materials Control 128,000 Standard cost for direct labor per pair of shoes: 1 hour at a standard price of $100 each. The company produced 8,500 shoes in June with 8,470 hours and incurred total direct labor costs of $832,000.Please provide answer in text (Without image)