Chapter 10, Problem 1ISTQ

In 2022, Rolling Mills, a producer of organic oat flour, had the capacity to produce 12,000,000 pounds of product at a conversion cost per pound of $0.18. The conversion cost per pound was $0.14 in 2021 (the previous year). The direct material cost per pound for both years was $0.09 per pound. In 2022, Rolling Mills produced 10,500,000 pounds, while actual production for the previous year was 9,200,000 pounds. What was the cost of unused capacity in 2022?

What is the smartphone Division's capital turnover?

MCQ

Raw materials purchase during the year

Solve with explanation and accounting question

General accounting question

Provide correct answer

Oliver Manufacturing has the following data: direct labor $195,000, direct materials used $172,000, total manufacturing overhead $214,000, and beginning work in process $30,000. Compute the total manufacturing costs and the total cost of work in process.

Montclair Industries had $720,000 in invested assets, sales of $810,000, income from operations amounting to $113,400, and a desired rate of return of 16%. What is the profit margin?