Variable manufacturing overhead Direct materials Direct labor Fixed manufacturing overhead Variable marketing and administrative $20 25 24 17 6
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![Variable manufacturing overhead
Direct materials
Direct labor
Fixed manufacturing overhead
Variable marketing and administrative
$ 20
25
24
17
6
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- :14 es Howell Corporation's activity-based costing system has three activity cost pools-Machining, Setting Up, and Other. The company's overhead costs, which consist of equipment depreciation and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Equipment depreciation (total) Indirect labor (total) Distribution of Resource Consumption Across Activity Cost Pools Setting Up 0.30 0.10 Equipment depreciation Indirect labor Product S4 Product CO Total Costs in the Machining cost pool are assigned to products based on machine-hours (MHS) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are not assigned to products. Sales (total) Direct materials (total) Direct labor (total) $ 33,800 $ 7,950 MHS 8,900 6,300 15,200 Required A Machining 0.30 0.30 Additional data concerning the company's products appears below: Product S4 Product Co $ 88,100 $ 75,500 $…5 Vista Company reports the following information. Direct materials Direct labor Variable overhead Fixed overhead Units produced Compute its product cost per unit under absorption costing. Multiple Choice $76.00. $152.00. $171.00. $ 44 per unit 64 per unit $ 44 per unit $ 380,000 per year 20,000 units < Pr8:30 W W M b b ba Bit Fren Use the following information for Short Exercises $21-2 and S21-3. Variable Costing Product Cost X 49 37% Period Cost ||| 0 < : X
- Required information [The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit $ Units produced this year Units sold this year 300 per unit 115,000 units 118,250 units 3,250 units Units in beginning-year inventory Beginning inventory costs Variable (3,250 units x $135) Fixed (3,250 units x $80) $ 438,750 260,000 Total $ 698,750 Manufacturing costs this year Direct materials $ Direct labor $ Overhead costs this year Variable overhead $3,000,000 Fixed overhead $7,400,000 Selling and administrative costs this year Variable $1,300,000 Fixed 4,400,000 2. Prepare the current-year income statement for the company using absorption costing. OAK MART COMPANY SEXERCISE 4-9 Variable and Absorption Costing Unit Product Costs and Income Statements L04-1, LO4-2, L04-3 Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: od t Variable costs per unit: Manufacturing: Direct materials Direct labor..... Variable manufacturing overhead Variable selling and administrative.. Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses...... $25 $15 $5 $2 $250,000 $80,000 d baimeingoe During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company's product is $60 per unit. Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for Year 1 and Year b. Prepare an income statement for Year 1 and Year 2. 2. Assume the company uses absorption costing: a. Compute the…Companion Computer Company has been purchasing carrying cases for its portable computers at a purchase price of $57 per unit. The company, which is currently operating below full capacity, charges factory overhead to production at the rate of 46% of direct labor cost. The fully absorbed unit costs to produce comparable carrying cases are expected to be as follows: Direct materials $28 Direct labor 16 Factory overhead (46% of direct labor) 7.36 Total cost per unit $51.36 If Companion Computer Company manufactures the carrying cases, fixed factory overhead costs will not increase and variable factory overhead costs associated with the cases are expected to be 14% of the direct labor costs.
- D13 X✓ fx per hour A 1 Problem 3: Overhead Costs Variances 2 B لا Alignment Ty Number D LZ 3 Jailene Inc allocates overhead costs using the direct labor hour as the allocation base. It has provided the following manufacturing overhead data: 4 5 Data 6 Number of production units 7 Direct labor hour (DLH)* per unit 8 Total direct labor hours 9 VMOH 10 FMOH 11 Total MOH 12 Standard VMOH rate per hour 13 Standard FMOH rate per hour 14 MOH rate per hour 15 16 Actual Budgeted or Standard 53,000 50000 units 0.55 29,150 $145,000 0.72 DLH per unit 36,000 DLH $144,000 $65,000 210,000 $72,000 216,000 $4.00 per hour $2.00 per hour $6.00 per hour Formulae: Styles E Cells E F H I Editing Sensitivity Add-ins L M N 0 17 Required: 18 A. Calculate Variable MOH flexible budget cost variance. 19 B. Calculate Fixed MOH volume variance. 20 C. Calculate the total MOH variance. 21 22 Solution: 23 A. Variable MOH flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs 24 Actual…Variable costs: Direct materials $0.15 Direct labor 0.06 Variable overhead 0.11 Fixed overhead 0.30 Total cost $0.62Test VII. High and Low Points Method. A controller is interested in analyzing the fixed and variable costs of indirect labor as related to direct labor hours. The following data have been accumulated: Indirect Direct Labor Labor Cost $2,880 3,256 2,820 3,285 3,200 3,200 Month March. Hours 425 Аpril May June. July . August. 545 440 560 540 495 Requirement: Determine the amount of the fixed portion of indirect labor expense and the variable rate for indirect labor expense, using the high and low points method.
- 3-28 Activity-Based Costing Hakara Company has been using direct labor costs as the basis for assigning overhead to its many products. Under this allocation system, product A has been assigned overhead of $10.80 per unit, while product B has been assigned $3.60 per unit. Management feels that an ABC system will provide a more accurate allocation of the overhead costs and has collected the following cost pool and cost driver information: [LO 5-2, 5-3] Cost Pools Activity Costs Cost Drivers Activity Driver Consumption 4,000 20,000 40,000 Machine setup Setup hours Pounds of materials $360,000 Materials handling Electric power 100,000 40,000 Kilowatt-hours The following cost information pertains to the production of A and B, just two of Hakara's many products: A Number of units produced 4,000 $42,000 $24,000 20,000 $54,000 $40,000 Direct materials cost Direct labor cost Number of setup hours 400 200 Pounds of materials used 1,000 2,000 3,000 4,000 Kilowatt-hours Required 1. Use…Chapter 6, Problem 16MC Textbook Problem 15 views Under variable costing, a unit of product includes which costs? A. direct material, direct labor, and manufacturing overhead B. Direct material, direct labor, and variable manufacturing overhead C. Direct material, direct labor, and fixed manufacturing overhead D. Direct material, direct labor, and all variable manufacturing overheadAce Company is a manufacturer of basketballs and began operations this year. The company produced 4,300 units and sold 3,750 units. Each basketball was sold at a price of $46. Fixed overhead costs are $53,000 per year, and fixed selling and administrative costs are $46,600 per year. The company also reports the following per unit variable costs for the year. Direct materials Direct labor Variable overhead Variable selling and administrative expenses Compute income under variable costing. Multiple Choice O $105,000 $99,600 $5,400 $59,642 $ 7.00 per unit $ 5.00 per unit $ 4.00 per unit $ 2.00 per unit
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