XYZ Company provided the following information regarding Product XY: Direct material costs OMR3 per unit of product; Direct labor costs OMR5 per direct labor hour; Predetermined overhead rate OMR10 per direct labor hour. The cost of a job for 550 units of product XY, which uses a total of 100 direct labor hours, is: Select one: Oa. OMRS,400 Ob. OMR3,300 Oc.OMR3,150 d. None of the answers given e. OMR9.900

XYZ Company provided the following information regarding Product XY: Direct material costs OMR3 per unit of product; Direct labor costs OMR5 per direct labor hour; Predetermined overhead rate OMR10 per direct labor hour. The cost of a job for 550 units of product XY, which uses a total of 100 direct labor hours, is: Select one: Oa. OMRS,400 Ob. OMR3,300 Oc.OMR3,150 d. None of the answers given e. OMR9.900

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

Figuring a predetermined overhead rate using direct materials as the allocation base. $130500 estimated manufacturing overhead cost and $87000 as allocation base. Then whats next in the formula
Desjarlais Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products. Activity Cost Pools Activity Rate Setting up batches $ 83.25 per batch Assembling products $ 13.88 per assembly hour Processing customer orders $ 61.41 per customer order Data concerning two products appear below: Product S96U Product Q06F Number of batches 33 45 Number of assembly hours 104 844 Number of customer orders 16 33 Required: a. How much overhead cost would be assigned to Product S96U using the company's activity-based costing system? (Round your intermediate calculations and final answer to 2 decimal places.) b. How much overhead cost would be assigned to Product Q06F using the company's activity-based costing system? (Round your intermediate calculations and final answer to 2 decimal places.)
2.A company makes two products 1 and 2. The finishing activity pool has estimated manufacuring costs of $82,749 and the cost drivers for Product 1 is 359 and 282 for Product 2. The assembling activity pool has estimated costs of $63,039 and the cost drivers for Product 1 is 200 and 300 for Product 2. Direct labor hours for Product 1 is 497and 303 for Product 2. What is the total manufacturing overhead cost to be assigned to Product 1 using a single overhead rate as under tradional cost accounting? Round your final answer to the nearest whole dollar and do not put a dollar sign in your answer.
Ee.78.
A company makes two products 1 and 2. The finishing activity pool has estimated manufacuring costs of $84,399 and the cost drivers for Product 1 is 200 and 500 for Product 2. The assembling activity pool has estimated costs of $65,366 and the cost drivers for Product 1 is 350 and 275 for Product 2. Direct labor hours for Product 1 is 323 and 371 for Product 2. What is the total manufacturing overhead rate to be used under traditional cost accounting?
A company has traditionally allocated its overhead based on machine hours but had collected this information to change to activity-based costing: Estimated Activity Activity Center Product 1 Product 2 Estimated Cost Machine Setups 15 45 $9,600 Assembly Parts 3,000 3,000 143,400 Packaging Pieces 500 400 54,450 Machine Hours per Unit 4 Production Volume 750 1,500 A. How much overhead would be allocated to each unit under the traditional allocation method? Round your answers to two decimal places. Product 1 Product 2 Allocation per unit $ $ B. How much overhead would be allocated to each unit under activity-based costing? Round your answers to two decimal places. Product 1 Product 2 Allocation per unit $ $4
Feauto Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours (DLHs). The company has two products, 163E and E761, about which it has provided the following data: I63E E76I $22.20 $66.60 $17.50 $ 52.50 Direct labor-hours per unit 0.50 84,000 Annual production (units) 1.50 28,000 The company's estimated total manufacturing overhead for the year is $3,141,600 and the company's estimated total direct labor-hours for the year is 84,000. The company is considering using a form of activity-based costing to determine its unit product costs for external reports. Data for this proposed activity-based costing system appear below: Direct materials per unit Direct labor per unit Activities and Activity Measures Assembling products (direct labor-hours) Preparing batches (batches) Product support (product variations) Total Direct labor-hours Batches Product variations…
A company has an overhead application rate of 120% of direct labor costs. How much overhead would be allocated to a job if it required total labor costing $30,000? O $6.000 O $25.000 O $36,000 O $187.500 O $360.000 Question 10 O.K. Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. O.K. expects to incur $1,100,000 of overhead during the next period and expects to use 50,000 labor hours at a cost of $10.00 per hour. What is O.K. Company's overhead application rate? O 4.55% O 45.45% O 220% O 227% O 2,200% Question 11
AB Company uses activity based costing and gives you the following data regarding cost pools and estimated overhead cost for each pool. Machine related RO 250,000 Material handling RO 450,000 Purchase related RO 320,000 General factory RO 610,000 The amount of total estimated overhead is: a. RO 1630,000 b. RO 1020,000 c. RO 1380,000 d. RO 930,000
mcqs: 1) Spang Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 20,000 Total fixed manufacturing overhead cost $ 176,000 Variable manufacturing overhead per machine-hour $ 2.20 Recently, Job P505 was completed with the following characteristics: Total machine-hours 200 Direct materials $ 540 Direct labor cost $ 7,200 The total job cost for Job P505 is closest to: A $7,740 B $2,740 C $9,940 D $9,400
A company makes two products 1 and 2. The finishing activity pool has estimated manufacuring costs of $85,557 and the cost drivers for Product 1 is 346 and 237 for Product 2. The assembling activity pool has estimated costs of $67,616 and the cost drivers for Product 1 is 200 and 300 for Product 2. Direct labor hours for Product 1 is 311and 107 for Product 2. What is the total manufacturing overhead cost to be assigned to Product 1 using a single overhead rate as under tradional cost accounting? Round your final answer to the nearest whole dollar and do not put a dollar sign in your answer.
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 $26.87 per unit, while product B has been assigned $7.62 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: Cost Pools Activity Costs $ 415,000 120,000 44,000 The following cost information pertains to the production of A and B, just two of Hakara's many products: Machine setup Materials handling Electric power Number of units produced Direct materials cost Direct labor cost Number of setup hours Pounds of materials used Kilowatt-hours Product A Product B A 5,000 $ 22,000 $ 39,000 Cost per Unit Cost Drivers Setup hours Pounds of materials Kilowatt-hours 200 2,000 4,000 B 20,000 $ 26,000 $ 37,000 Activity Driver Consumption 5,000 15,000 22,000 200 2,000 4,000 Required: 1. Use…