Identify the costing system that should be used by Person TH.

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Answer 1

Question

Chapter 12, Problem 3ESA

a.

To determine

Identify the costing system that should be used by Person TH.

b.

To determine

Explain the manner by which Person TH can determine the cost of suits that he makes during the year when he is uncertain about the total overhead cost.

c.

To determine

Explain whether it is appropriate for Person TH to consider labor cost as zero.

d.

To determine

Distinguish between manufacturing overhead costs and selling and administrative expense. Explain reasons whether Person TH should include selling or administrative expense while determining product cost if he uses cost-plus pricing and also explain whether selling or administrative expense should be included in determining product cost for financial reporting purposes.

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A company sets the following standards for its variable overhead: • Standard hours per unit: 5.0 hours Standard variable overhead rate: $12 per hour Last month's data: • Actual hours worked: 11,500 hours . Actual variable overhead cost: $134,800 • Actual production: 2,200 units A. What is the variable overhead rate variance? B. What is the variable overhead efficiency variance?

Answer 2

Question

Chapter 12, Problem 3ESA

a.

To determine

Identify the costing system that should be used by Person TH.

b.

To determine

Explain the manner by which Person TH can determine the cost of suits that he makes during the year when he is uncertain about the total overhead cost.

c.

To determine

Explain whether it is appropriate for Person TH to consider labor cost as zero.

d.

To determine

Distinguish between manufacturing overhead costs and selling and administrative expense. Explain reasons whether Person TH should include selling or administrative expense while determining product cost if he uses cost-plus pricing and also explain whether selling or administrative expense should be included in determining product cost for financial reporting purposes.

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Answer 3

Question

Chapter 12, Problem 3ESA

a.

To determine

Identify the costing system that should be used by Person TH.

b.

To determine

Explain the manner by which Person TH can determine the cost of suits that he makes during the year when he is uncertain about the total overhead cost.

c.

To determine

Explain whether it is appropriate for Person TH to consider labor cost as zero.

d.

To determine

Distinguish between manufacturing overhead costs and selling and administrative expense. Explain reasons whether Person TH should include selling or administrative expense while determining product cost if he uses cost-plus pricing and also explain whether selling or administrative expense should be included in determining product cost for financial reporting purposes.

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Answer 4

Question

Chapter 12, Problem 3ESA

a.

To determine

Identify the costing system that should be used by Person TH.

b.

To determine

Explain the manner by which Person TH can determine the cost of suits that he makes during the year when he is uncertain about the total overhead cost.

c.

To determine

Explain whether it is appropriate for Person TH to consider labor cost as zero.

d.

To determine

Distinguish between manufacturing overhead costs and selling and administrative expense. Explain reasons whether Person TH should include selling or administrative expense while determining product cost if he uses cost-plus pricing and also explain whether selling or administrative expense should be included in determining product cost for financial reporting purposes.

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Answer 5

Chapter 12, Problem 3ESA

a.

To determine

Identify the costing system that should be used by Person TH.

b.

To determine

Explain the manner by which Person TH can determine the cost of suits that he makes during the year when he is uncertain about the total overhead cost.

c.

To determine

Explain whether it is appropriate for Person TH to consider labor cost as zero.

d.

To determine

Distinguish between manufacturing overhead costs and selling and administrative expense. Explain reasons whether Person TH should include selling or administrative expense while determining product cost if he uses cost-plus pricing and also explain whether selling or administrative expense should be included in determining product cost for financial reporting purposes.

Answer 6

Chapter 12, Problem 3ESA

a.

To determine

Identify the costing system that should be used by Person TH.

Answer 7

Chapter 12, Problem 3ESA

a.

To determine

Identify the costing system that should be used by Person TH.

Answer 8

b.

To determine

Explain the manner by which Person TH can determine the cost of suits that he makes during the year when he is uncertain about the total overhead cost.

Answer 9

b.

To determine

Explain the manner by which Person TH can determine the cost of suits that he makes during the year when he is uncertain about the total overhead cost.

Answer 10

c.

To determine

Explain whether it is appropriate for Person TH to consider labor cost as zero.

Answer 11

c.

To determine

Explain whether it is appropriate for Person TH to consider labor cost as zero.

Answer 12

d.

To determine

Distinguish between manufacturing overhead costs and selling and administrative expense. Explain reasons whether Person TH should include selling or administrative expense while determining product cost if he uses cost-plus pricing and also explain whether selling or administrative expense should be included in determining product cost for financial reporting purposes.

Answer 13

d.

To determine

Distinguish between manufacturing overhead costs and selling and administrative expense. Explain reasons whether Person TH should include selling or administrative expense while determining product cost if he uses cost-plus pricing and also explain whether selling or administrative expense should be included in determining product cost for financial reporting purposes.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 12 - Prob. 1LO Ch. 12 - LO 12-2 Explain how events in a job-order costing...Ch. 12 - LO 12-3 Explain how events in a process costing...Ch. 12 - LO 12-4 Calculate equivalent units and prepare a...Ch. 12 - Prob. 1Q Ch. 12 - Prob. 2Q Ch. 12 - Prob. 3Q Ch. 12 - Prob. 4Q Ch. 12 - Prob. 5Q Ch. 12 - Prob. 6Q

Identify the costing system that should be used by Person TH.

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Identify the costing system that should be used by Person TH.

Explain the manner by which Person TH can determine the cost of suits that he makes during the year when he is uncertain about the total overhead cost.

Explain whether it is appropriate for Person TH to consider labor cost as zero.

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