Lynwood, Inc. produces two different products (Productactivity driver, and Inspection, which uses number of batches as an activity driver. The activity rate for Machining is $180 per machine hour, and theactivity rate for Inspection is $580 per batch. The activity drivers are used as follows:and Product X) using two different activities: Machining, which uses machine hours as anProduct A Product X Total1,200Machine hours3,2004,400Number of batches551873What is the amount of Inspection cost assigned to Product X?Multiple Choice$31,900$42,340$216,000$10,440< Pro8 of 10Next >MacBook Pro**888&2383ERTYPQWJK>CVMcommandoptiocommand

Formula : Inspection cost assigned to product = number of batches as an activity driver x rate of…

Answered: What is the amount of Inspection cost…

Business

Accounting

What is the amount of Inspection cost assigned to Product X? Multiple Choice $31,900 $42,340 $216,000 $10,440

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Multiple Choice $25.90 Activity Cost Pools Activity 1 $ 17,460 Activity 2 $ 19,987 Activity 3 $…

A: The overheads are the cost like rent, supplies insurance, etc. These overheads are not directly…

Q: In September, 67,000 units were produced. Prepare the budget report using flexible budget data,…

A: Budget is an an beginning and basic part part of accounting as it is a pre-planning on upcoming…

Q: Palm, which uses the high-low method, had an average cost per unit of $48 at its lowest level of…

A: The high-low method is one of the methods to calculate the value of fixed cost and per unit cost of…

Q: Question 31 Bell's Shop can make 1,000 units of a necessary component with the following costs:…

A: Relevant cost is the cost that is different between different alternatives. This cost is considered…

Q: Fanning Electronics currently produces the shipping containers it uses to deliver the electronics…

A: Requirement a1 and a2 is complete and therefore done. The requirement "b" question data is not…

Q: Acme Company has two product lines, Product X and Product Z. Here are data for the current year:…

A: The contribution Margin is calculated as difference between sales and variable cost. The net income…

Q: Assume a company has three products-A, B, and C-that emerge from a joint process. The joint…

A: The financial advantage or the disadvantage of the joint manufacturing process requires an in-depth…

Q: Talladega Tire and Rubber Company has capacity to produce 500,000 tires. Talladega presently…

A: Businesses utilize differential analysis, often referred to as incremental analysis or marginal…

Q: oint casts: Direct materials: 51000 Direct labor: 61000 Overhead: 66000 Revenues: Product A: 76500…

A: Effect on profit if A processed further Formula: = Additional Revenue from further processing A -…

Q: Percentage Service Provided to Department Cost S1 S2 P1 P2 Service 1 (S1) $ 122,000 0 % 40 % 40 % 20…

A: The direct method does not allocate any costs to the other service departments; instead, it directs…

Q: Rubium Micro Devices currently manufactures a subassembly for its main product. The costs per unit…

A: Relevant cost is the cost that is different between different alternatives. This cost is considered…

Q: TB MC Qu. 6-111 Majid Corporation sells a product for ... Majid Corporation sells a product for $190…

A: Margin of safety is the difference between total sales and break-even sales. The Break-even point…

Q: A customer has asked Stripes Corporation to supply 20,000 units of product EM50, with some…

A: SPECIAL ORDER ANALYSIS Untill There is any Information is Provided, There Shall be no additional…

Q: The procurement team must decide between the two decision alternatives To provide management greater…

A: Given in the question: Number of units required = 2.5 Million Cost making equation under low cost…

Q: Chapter 16 question 6 Information about direct materials cost follows for Jennings Chemicals:…

A: Variance analysis is method of getting comparison actual data with budgeted data. There are various…

Q: se Company provided the following information aber 31, 2020: personal injury liability suit for…

A: Contingent liabilities are those liabilities or obligations whose possibilities to arise in future…

Q: Question 23 options: ElSmith Company manufactures a single product. Assume the following data for…

A: Absorption costing is a method of accounting for the costs associated with producing a product. In…

Q: The total cost accumulated in the assembly department using the reciprocal method is (calculate all…

A: Cost of service department can be allocated to production department in different ways such as1.…

Q: ports the following. goods sold and administrative expenses ad administrative expenses

A: Answer : Contribution margin = Sales - variable cost Particular Amount Sales $810,000…

Q: physicians. The new equipment would employ a computer robotic system operated by a technician. The…

A: Degree of operating leverage is one of the measure which helps in assessing how much sensitive is…

Q: Assume the following costs in each of the categories identified in question one are: $133,533…

A: Cost of goods sold is the cost incurred on the making of the goods that are sold by the entity to…

Q: Item 1 2 3 4 5 6 Required: Item 1 Quantity 2 3 4 1 1 1 1 1 1 Cost $17.70 10.80 72.00 $ 4.80 $ $…

A: Cost is the amount which is paid to purchase the inventory and net realizable value is the amount…

Q: uments produces two models of binoculars. Information for each model is as follows:

A: It is the process of making decisions that involve the management of costs in order to achieve…

Q: Question #1 Supplier Actual Price Standard Price Actual Quantity Standard Quantity Material Price…

A: Variance analysis is the evaluation of the variation between the actual figures and the budgeted…

Q: ng expense per unit pense per unit ....

A: Answer : 1) Absorption Costing : Product cost per unit = Variable manufacturing cost per unit +…

Q: Period 1 number of valuations 420 total cost 82200 Period 2 number of valuations 515 total…

A: Fixed CostsFixed costs are expenses that don't change within a particular range of production or…

Q: Assume a company has three products-A, B, and C-that emerge from a joint process. The joint…

A: The financial advantage or the disadvantage of the joint manufacturing process requires an in-depth…

Q: Ex 3 Machine maintenance bill 45,000 Quality control bill $ 35,000 Production Machine Hours…

A: Activity-based costing is the method of allocating the overhead to the cost of the product. Under…

Q: The Shum Company makes a product, Z, from two materials: X and Y. The standard prices and quantities…

A: Direct material mix variance = (Actual quantity * Standard price) - (Standard mix quantity *…

Q: A customer has asked Lalka Corporation to supply 4,700 units of product H60, with some…

A: Lets understand the basics.When special order situation arise, management calculates relevant cost…

Q: Cranergy Products is a cranberry cooperative that operates two divisions, a harvesting division and…

A: The cost that one division of a firm charges another division for goods and services rendered is…

Q: 1. Prepare a Flexed budget to reflect the actual level of production. 2. Calculate the following…

A: Marginal Cost: Additional Cost incurred to produce of additional unit of production. It is also…

Q: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales…

A: The variable costs change with change in level of production. The fixed costs remain constant at…

Q: February 800 $15,100 March 790 $14,970 Аpril 730 $14,190 May 750 $14,450 June 765 $14,645 July 805…

A: VARIABLE COST PER UNIT UNDER HIGH-LOW METHOD : = ( HIGHEST ACTIVITY COST - LOWEST ACTIVITY COST ) /…

Q: Costs associated with two alternatives, code-named Q and R, being considered by Albiston Corporation…

A: Relevant CostIn Management accounting the term relevant cost really matters. The relevant cost is…

Q: Shore Company reports the following information regarding its production cost. Units produced 29,000…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Globaltronic Sdn Bhd has received a special marketing choice from one of the world's electronic…

A: According to the question given, we need to determine whether the company should buy or make the…

Q: Leap Company has collected the following information: Cost to buy one unit $24 Production costs per…

A: Fixed costs, also known as overhead costs, are expenses that do not vary with changes in the level…

Q: ers 5 & 6 A company's product sells at $12.12 per unit and has a $5.18 per unit variable cost. The…

A: MARGINAL COSTING INCOME STATEMENTMarginal Costing Income Statement is One of the Important Cost…

Q: When quality costs reach the optimal range of 2 to 4% of sales, control costs typically account for…

A: Quality costs are one of the useful component of costs being reported in business. Mainly quality…

Q: Material Material Actual Standard Actual Standard Price Usage Total Supplier Price Price Quantity…

A: Here in this question we are required to calculate material price, material usage variance. We are…

Q: 12 Flanders Ltd makes travel gadgets. The standard cost of making a travel gadgets & Direct material…

A: Variance analysis is a tool which is used to identify the difference in cost and revenue and the…

Q: Determine the total cost of P1 and P2 using the direct method. (Do not round intermediate…

A: Direct Allocation Method Service Departments Operating Departments S1 S2 P1 P2…

Q: Assume a company has three products-A, B and C-that emerge from a joint process. The selling prices…

A: For the purpose of computation of financial advantage (disadvantage) for further processing, We need…

Q: Review Question 2 ABC Co. wants to know if they should change their equipment or buy the product…

A: Sometimes, a company makes a decision between making or buying. The product is bought from outside…

Q: Rundle Electronics currently produces the shipping containers it uses to deliver the electronics…

A: The relevant costs are the avoidable costs that can be ignored if the alternative is not chosen.The…

Q: Fanning Electronics currently produces the shipping containers it uses to deliver the electronics…

A: Whether a company should make the product or purchase it from a supplier requires comparing the…

Question

Lynwood, Inc. produces two different products (Product
activity driver, and Inspection, which uses number of batches as an activity driver. The activity rate for Machining is $180 per machine hour, and the
activity rate for Inspection is $580 per batch. The activity drivers are used as follows:
and Product X) using two different activities: Machining, which uses machine hours as an
Product A Product X Total
1,200
Machine hours
3,200
4,400
Number of batches
55
18
73
What is the amount of Inspection cost assigned to Product X?
Multiple Choice
$31,900
$42,340
$216,000
$10,440
< Pro
8 of 10
Next >
MacBook Pro
**
888
&
23
8
3
E
R
T
Y
P
Q
W
J
K
>
C
V
M
command
optio
command

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Please do not give solution in image format thanku
5:43 +968 9232 0990 All Media 09/03/2021, 3:08 PM 0:15 -0:11 F Flag question Which one of the fallowing is correct about variable costing systems? Select one: a. Normally result into a higher product cost compared to absorption costing systems b. Calculate product cost as the sum of directs materials, direct labor and manufacturing overhead costs x c. Product cost does not include variable selling expenses. d. Focuses on both variable and fixed costs. The correct answer is: Product cost does not include variable selliWI ail j expenses.
Pp
8:30 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 S
Please do not give solution in image format thanku
Satisfaction 95% • $0 What would be the total cost of Software M over time? $?] Not Satisfied $6,000 Software X 45% • $18,000 Software M $12,000 Satisfaction Not Satisfied 95% • $0 5% • $2,000
Please do not give solution in image format thanku
Please do not give solution in image format thanku
Current Attempt in Progress Crane Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. Product Cost Net realizable value A $119000 $127000 B 78000 C 151000 76000 O $346000 O $348000 O $369000 O $367000. 164000 D If Crane applies the LCNRV basis, the value of the inventory reported on the balance sheet would be
h1
Godo