XYZ Co. has provided the following data concerning its overhead costs for the coming year:Wages and salaries$ 340,000Depreciation120,000Rent140,000Total$ 600,000The company has an activity-based costing system with the following three activity cost pools and estimated activity for the comingyear:Activity Cost PoolTotal ActivityAssembly30,000 labor-hoursOrder processing510 ordersOtherNot applicableThe Other activity cost pool does not have a measure of activity; it is used to accumulate costs of idle capacity and organization-sustaining costs.The distribution of resource consumption across activity cost pools is given below:Activity Cost PoolsOrderAssemblyProcessingOtherTotalWages and salaries35%40%25%100%Depreciation15%45%40%100%Utilities35%30%35%100%The activity rate for the Order Processing activity cost pool is closest to:

Name: XYZ Co. has provided the following data concerning its overhead costs
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: XYZ Co. has provided the following data concerning its overhead costs for the coming year:Wages and salaries$ 340,000Depreciation120,000Rent140,000Total$ 600,000The company has an activity-based costing system with the following three activity cost

Solution : Activity Rate = Total Overhead / Number of Orders = $232,000 / 510…

Answered: XYZ Co. has provided the following data…

Business

Accounting

XYZ Co. has provided the following data concerning its overhead costs for the coming year: Wages and salaries $ 340,000 Depreciation 120,000 Rent 140,000 Total $ 600,000

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 following information relates to XYZ manufacturing for the first quarter of 2021: Fixed Cost MVR 50,000 Total Cost MVR 80,000 Total Revenues MVR 120,000 Number of units produced and sold during the period is 10000 units. Calculate: a) Break-even point in units b) Margin of safety in units and value
Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $ 20,900 Cost per Repair-Hour. $ 15.00 $ 7.78 $8.35 $ 1.80 Wages and salaries. Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses For example, wages and salaries should be $20,900 plus $15.00 per repair-hour. The company expected to work 2,500 repair-hours In May, but actually worked 2,400 repair-hours. The company expects its sales to be $45.00 per repair-hour. Revenue Expenses: $ 2,760 $ 5,790 $ 4,640 $ 3,850 Required: Compute the company's activity variances for May. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating…
Emley Company incurred direct materials costs of $750,000 during the year. Manufacturing overhead applied was $700,000 and is applied based on direct labor costs. The predetermined overhead rate is 70%. How much are Emley Company's total manufacturing costs for the year?
Jake’s Roof Repair has provided the following data concerning its costs: Fixed Costper Month Cost perRepair-Hour Wages and salaries $ 20,900 $ 15.00 Parts and supplies $ 7.60 Equipment depreciation $ 2,730 $ 0.55 Truck operating expenses $ 5,750 $ 1.60 Rent $ 4,650 Administrative expenses $ 3,870 $ 0.70 For example, wages and salaries should be $20,900 plus $15.00 per repair-hour. The company expected to work 2,900 repair-hours in May, but actually worked 2,800 repair-hours. The company expects its sales to be $48.00 per repair-hour. Required: Compute the company’s activity variances for May.
Rundle Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows. Expected Direct labor Home 1: $63,000 Home 2: $108,000, Home 3: $181,000 Direct materials Home 1: 98,000 Home 2: 143,000 Home 3: 186,000 Assume Rundle needs to allocate two major overhead costs ($ 52,800 of employee fringe benefits and $12,,810 of indirect materials cost) among the three Jobs. required; Choose an appropriate cost driver for each of the overhead costs and determine the cost of each house ( round " allocation rate to 2 decimal places.)
At the beginning of the year, a company predicts total direct materials costs of $900,000 and total overhead costs of $1,170,000. If the company uses direct materials costs as its activity base to apply overhead, what is the predetermined overhead rate it should use during the year?
At Allen Company, manufacturing overhead is applied based on direct labor hours. Overhead was estimated to be $540,000 and direct labor hours were estimated to be 360,000. Actual direct labor hours and actual direct labor costs for the year amounted to 400,000 hours and $700,000. In addition, Allen Company incurred the following actual costs during the year: Administrative expenses, $100,000 Depreciation expense on fixed assets, $500,000 (80% of the depreciation expense was related to manufacturing activities) Indirect material costs, $25,000 Indirect labor costs, $45,000 Utility expense on the manufacturing facility, $125,000 Insurance expense on the manufacturing facility, $35,000 Marketing expenses, $75,000 Sales & promotion expenses, $25,000 Allen Company had the following inventory balances at the beginning and end of the year: January 1 December 31 Finished goods $450,000 $675,000 Work in process 600,000…
During the coming accounting year, Baker Manufacturing, Inc., anticipates the following costs, expenses, and operating data: Direct material (16,000 lb.) $70,000 Direct labor (@ $20/hr.) $20,000 Factory administration $15,000 Indirect labor $10,000 Indirect material $14,000 Non factory administrative expenses $16,000 Other manufacturing overhead $15,000 Maintenance of factory machine $20,000 Sales commissions $70,000 Direct labor hours 2,000 Machine hours 8,000 Calculate the predetermined manufacturing overhead rate for the coming year using direct labor hour as the allocation base. Round your answer to two decimal places when applicable.
Davis Corporation reported the following for the month of November: Total hourly wages of plant workers ₱080,000 Advertising 134,000 Sales Commission 40,000 Depreciation of machine used in production 28,000 Depreciation of administrative equipment 27,000 Indirect Labor 25,000 Administrative Salaries 95,000 Utilities, factory 11,000 Direct Materials 200,000 Freight Out 20,000 What is the total inventoriable costs for November? Show solution Group of answer choices ₱344,000 ₱364,000 ₱296,000 ₱316,000