What is the total Machining cost assigned to Product 5?
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Jackson, Incorporated produces two products (Product 5 and Product Z) using two activities: Machining, which uses machine hours as the cost driver, and Inspection, which uses the number of batches as the cost driver. The cost of Machining is $520,000, while the cost of Inspection is $40,000. Product 5 uses 25% of total machine hours and 65% of total batches. What is the total Machining cost assigned to Product 5?
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- 2..Lawn Products produces two products (X and Y) and a by-product (Z) from a joint process using a raw material (Alpha). The company chooses to allocate the costs on the basis of the physical quantities method. Last month, it processed 23,000 pounds of Alpha at a total cost of $99,000. The output of the process consisted of 28,800 units of product X, 35,200 units of product Y, and 7,100 units of by-product Z. By-product Z can be sold for $12,000. This is considered to be its net realizable value, which is deducted from the processing costs of the main products. Required: What amount of joint costs should be assigned to each of product X and product Y? Product X Product Y Joint CostsJefferson, Inc. produces two different products (Product 5 and Product Z) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver. The cost of Machining is $139,400, while the cost of Inspection is $38,640. The activity drivers are used as follows: Product 5: (machine hours= 1,394) (number of batches 51) Product Z: (mahine hours= 2,706) (number of batches 18) Totals: (Machine hours= 4,100) (number of batches 69) What proportion of Machining activity is used by Product 5?
- Zimmerman Company manufactures two products, Board 12 and Case 165. Zimmerman’s overhead costs consist of setting up machines, $2800000; machining, $5300000; and inspecting, $2100000. Information on the two products is: Board 12 Case 165 Direct labor hours 15000 25000 Machine setups 600 400 Machine hours 24000 26000 Inspections 800 700 Overhead applied to Case 165 using activity-based costing is $5344000. $4080000. $6375000. $4856000.9. Calverton, Inc. produces two different products (Standard and Luxury) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver. The cost of Machining is $780,000, while the cost of Inspection is $46,800. Standard is assigned $452,400 in Machining cost, and $35,568 in Inspection cost. What proportion of Inspection activity is used by Luxury? 00:41:23 Multiple Choice 32% 24% 69% 66% ( Prev 9 of 10 Next > MacBook Pro %23 96 2 3 4 6 8 Q E R P A D G H J K > V M command command option O O OMickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials—X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Product Raw Material Standard Labor Time X442 Y661 Sintering Finishing Alpha6 1.8 kilos 2.0 liters 0.20 hours 0.80 hours Zeta7 3.0 kilos 4.5 liters 0.35 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Material Purchases Purchase Cost Standard Price Used in Production X442 14,500 kilos $ 52,200 $ 3.50 per kilo 8,500 kilos Y661 15,500 liters $ 20,925 $ 1.40 per liter 13,000 liters The following additional information is available: The company recognizes price variances when materials are purchased. The standard labor rate is $19.80 per hour in Sintering and $19.20 per hour in Finishing. During…
- Tri-bikes manufactures two different levels of bicycles: the Standard and the Extreme. The total overhead of $300,000 has traditionally been allocated by direct labor hours, with 150,000 hours for the Standard and 50,000 hours for the Extreme. After analyzing and assigning costs to two cost pools, it was determined that machine hours is estimated to have $200,000 of overhead, with 4,000 hours used on the Standard product and 1,000 hours used on the Extreme product. It was also estimated that the setup cost pool would have $100,000 of overhead, with 1,000 hours for the Standard and 1,500 hours for the Extreme. Required: Calculate the amount of overhead assigned per product, under traditional and under ABC costing.Qriole Inc. manufactures two products: car wheels and truck wheels. To determine the amount of overhead to assign to each product line, the controller, William Brown, has developed the following information: Estimated wheels produced Direct labour hours per wheel Car Car wheels $ Truck 45,000 11,000 4 Total estimated overhead costs for the two product lines are $1,340,000. Calculate the overhead cost assigned to the car wheels and truck wheels, assuming that direct labour hours are used to allocate overhead costs. 8 180,000Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials—X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Product Raw Material Standard Labor Time X442 Y661 Sintering Finishing Alpha6 2.5 kilos 2.5 liters 0.20 hours 0.80 hours Zeta7 4.5 kilos 4.0 liters 0.40 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Material Purchases Purchase Cost Standard Price Used in Production X442 15,800 kilos $ 53,720 $ 3.20 per kilo 10,300 kilos Y661 16,800 liters $ 21,840 $ 1.40 per liter 14,800 liters The following additional information is available: The company recognizes price variances when materials are purchased. The standard labor rate is $23.00 per hour in Sintering and $22.00 per hour in Finishing. During…
- Lynwood, Inc. produces two different products (Product A and Product X) using two different activities: Machining, which uses machine hours as an 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: Product A: (machine hours= 1,200) (number of batches 55) Product X: (mahine hours= 3,200) (number of batches 18) Totals: (Machine hours= 4,400) (number of batches 73) What is the amount of Machining cost assigned to Product X?Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Standard Labor Time Sintering Finishing 0.40 hours 0.80 hours 0.30 hours 0.90 hours Information relating to materials purchased and materials used in production during May follows: Material Standard Price $ 3.60 per kilo X442 Used in Production 8,600 kilos 13,100 liters Y661 $ 1.50 per liter Product Alpha6 Zeta7 Raw Material Y661 X442 1.5 kilos 3.5 kilos 4.4 liters 2.2 liters Purchases 14,100 kilos 15,100 liters Purchase Cost $ 53,580 $ 21,140 The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $18.00 per hour in Sintering and $18.00 per hour in Finishing. c. During May, 1,250 direct labor-hours were…Tri-Bikes manufactures two different levels of bicycles - the Standard and the Extreme. The total overhead of $300,000 has traditionally been allocated by direct labor hours, with 150,000 hours for the Standard and 50,000 hours for the Extreme. After analyzing and assigning costs to two cost pools, it was determined that machine hours is estimated to have $180,000 of overhead, with 4,000 hours used on the Standard product and 1,000 hours used on the Extreme product. It was also estimated that the setup cost pool would have $120,000 of overhead, with 1,000 hours for the Standard and 1,500 hours for the Extreme. PLEASE NOTE: Predetermined overhead rates will be rounded to two decimal places and shown with "$" and commas as needed (i.e. $1,234.56). The rates will include their proper label according to the textbook examples (no abbreviations). All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). What is the overhead cost per product,…
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