The total conversion cost for company XYZ was three times the prime cost. The direct labor cost was$20,000 while the direct materials cost was $30,000. How much was the manufacturing overheadcost ($)?a.120,000b. 130,000O c.None of the given answersO d. 90,000O e. 150,000 Company XYZ made total contribution margin of $500,000 and a net income of $120,000. Thecompany also made a total gross margin of $390,000. Assume that the variable selling andadministrative expenses were $160,000, how much is the fixed manufacturing cost ($)?O a. 270,000O b. 270,000O c. 380,000d. None of the given answerse.110,000

Name: The total conversion cost for company XYZ was three times the prime c
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: The total conversion cost for company XYZ was three times the prime cost. The direct labor cost was$20,000 while the direct materials cost was $30,000. How much was the manufacturing overheadcost ($)?a.120,000b. 130,000O c.None of the given answersO

Answered: Image /qna-images/answer/dc34041d-23e6-43d1-bf4c-a8214dfe23c0.jpg

Business

Accounting

The total conversion cost for company XYZ was three times the prime cost. The direct labor cost was $20,000 while the direct materials cost was $30,000. How much was the manufacturing overhead cost ($)? a. 120,000 b. 130,000 O c. None of the given answers O d. 90,000 O e. 150,000

The total conversion cost for company XYZ was three times the prime cost. The direct labor cost was $20,000 while the direct materials cost was $30,000. How much was the manufacturing overhead cost ($)? a. 120,000 b. 130,000 O c. None of the given answers O d. 90,000 O e. 150,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The expected total overhead cost when 120,000 machine hours was used is:
ABC Corporation estimates handling cost at two-act levels:
3- A company, to manufacture 1,000 monthly units of a certain product, makes the following expenses: direct raw material: R$80,000.00; direct labor: $30,000.00; indirect labor: R$45,000.00 and other fixed costs: R$55,000.00. Assuming that direct raw material and direct labor are variable costs and indirect labor is fixed, the unit cost for the company to produce 2500 units is: *a) R$ 150.00b) R$ 144.00c) R$ 155.00d) R$ 160.00
Question 5: The Information below is taken from production department of Şalalab Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost 500000 ? ? Total labor cost 400000 100000 Manufacturing Overhead 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y =f+vX. D. Assume Şalalab intends to produce 10000 units next month. Calculate total production costs for the month
e. $5,752.10. Company XYZ has total prime cost of $21,000 and total conversion cost of $42,000. Assume that manufacturing overhead cost is three times the direct labor cost, how much is the direct materials cost? Select one: O a. None of the given answer O b. 21,000 O c. 10,500 O d. 12,000 O e. 31,500
The prime cost for company XYZ was $20,000, while the conversion cost was $25,000. Assume that direct labor cost is three times the direct materials cost and that the manufacturing overhead cost was two times the direct materials cost. Calculate the direct materials cost ($). O a. 15,000 O b. 30,000 O c. 10,000 O d. 5,000 O e. 45,000 JS PAGE NEXT PAGE 11:37 re to search ADA 4x ENG 22-05-2021 hp prt se 144 delete home wnd 7\ 9 + backspace num lock L. E 8 A home D. K enter 50 pause B 1 shift 11 end alt ctrl 立
16. Platinum Corporation gathered the ff. data for its maintenance costs: Units produced 100,000 90,000 106,000 Total costs 1,300,000 1,500,000 1,750,000 Using high-low method, what is the variable cost per unit?
After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Cost Formula Actual Cost in March Utilities $16,500 + $0.13 per machine-hour $ 20,250 Maintenance $39,000 + $1.90 per machine-hour $ 61,300 Supplies $0.60 per machine-hour $ 8,800 Indirect labor $94,400 + $1.60 per machine-hour $ 119,300 Depreciation $68,200 $ 69,900 During March, the company worked 13,000 machine-hours and produced 7,000 units. The company had originally planned to work 15,000 machine-hours during March. Required: 1. Prepare a flexible budget for March. 2. Prepare a report showing the spending variances for March.
The expected total overhead cost when 120,000 machine hours was used is: (WITH SOLUTION)
Consider the information below for a company whose products goes through two processes; material cost of GH¢100000 for a quantity of 10000kg, labour cost- GH¢50000 and overhead cost as twice the cost of labour. The company expected an output of 9500kg from process 1 but eventually obtained 9400kg. The actual output of 9400kg shows thatA. A normal loss of 600kg is incurredB. There is an abnormal gain of 100kgC. There is an abnormal loss of GH¢2632D. Cannot determine without further details
10 In July, TPM Co. incurred total costs of $60,000 and made 6000 units. In December it produced 4000 units and total costs were $40,000. What is the variable cost per unit? a. S12.00 b. $15.00 c. S10.00 d. $8.00
1. The prime cost for company XYZ was $20,000, while the conversion cost was $25,000. Assume that direct labor cost is three times the direct materials cost and that the manufacturing overhead cost was two times the direct materials cost. Calculate the direct labor cost ($)? a. 30,000 b. 10,000 c. 15,000 d. 5,000 e. 45,000