X Company reported total manufacturing costs of $300,000, manufacturing overhead totaling $52,000, and direct materials totaling $64,000. How much is direct labor cost? * O $116,000 $416,000 $184,000 None of the above

X Company reported total manufacturing costs of $300,000, manufacturing overhead totaling $52,000, and direct materials totaling $64,000. How much is direct labor cost? * O $116,000 $416,000 $184,000 None of the above

Name: ending work in process Is equaNone of the aboveX Company reported tot
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Description: ending work in process Is equaNone of the aboveX Company reported total manufacturing costs of $300,000, manufacturingoverhead totaling $52,000, and direct materials totaling $64,000. How much isdirect labor cost? *$116,000$416,000$184,000None of th

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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X corp incurred the following in production of 100,000 units of product X: (Sold units is 80,000 units at 5 per unit) Direct materials 100,000.00 Direct labor 80,000.00 VOH 40,000.00 FOH 50,000.00 Fixed expenses 12,000.00 Variable expenses 46,000.00 What is the product unit cost under Absorption costing? 2.70 270,000 3.00 2.20 None of the above
1. The accounting records of Dela Cruz Corporation revealed the following costs direct material used, $750,000; direct labor used, $1,275,000; factory overhead,$1,125,000; indirect materials used $500,000; indirect labor used $600,000; selling and marketing expenses $660,000; general and administrative expenses $440,000. Dela Cruz Corporation Prime Cost is? a. $1,875,000 b. $2,025,000 c. $2,225,000 d. $2,200,000
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1. Cost of raw materials $132,000 2. Indirect materials $31,000 3. Indirect labor cost $19,000 4. Cost of goods manufactured $503,000 5. Unadjusted cost of goods sold $477,500 Questions: 1.If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? 2. Was manufacturing overhead underapplied or overapplied? By how much? 3. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $10,750 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost?
Estimated cost and operating data for four companies for the upcoming year is as follow: Description Company X Company Y Company Z Company A Direct labor hours 80,000 45,000 60,000 45,000 Machine hours 30,000 70,000 21,000 28,500 Direct material cost $400,000 $290,000 $300,000 $265,000 Manufacturing overhead cost $536,000 $315,000 $480,000 $380,000 Predetermined overhead rates are computed using the following allocation bases in the four companies: Company Allocation Base X Direct labor hours Y Machine hours Z Direct material cost A 105% of DM cost Required: Compute each company’s predetermined overhead rate.
A company provided the following information about its one and only product: $45,000 $30,000 $42,000 $8,000 $28,000 $12,000 $20 10,000 Direct material used Direct labour Fixed factory overhead Fixed Selling & administrative expenses Variable factory overhead Variable Selling & administrative expenses Selling price per unit Units produced The unit cost of a unit under the absorption costing approach is? a. $10.30 O b. $16.50 O c. $14.50 O d. $5.00
Shore Company reports the following information regarding its production cost. 47,000 units $ 42 per unit $ 43 per unit $10 per unit $ 113,920 in total Compute product cost per unit under absorption costing. Units produced Direct labor Direct materials Variable overhead Fixed overhead
Company XYZ produced 1,000 units of product A. The total manufacturing costs were $30,000. The Manufacturing overhead cost was twice the direct labor cost while the direct materials cost was three times the direct labor cost. What was the manufacturing overhead cost per unit? a. None of the given answers b. 5 С. 15 d. 6 e. 10
Plz do no provide image for answer The direct materials costs are $10,000. The direct labor costs are $20,000. The predetermined overhead rate is $8 per machine hour. The company estimated 2,000 machine hours for the job order. However, the actual production required 1,500 machine hours. The company had produced 1,000 units of product. What is the unit product cost?