REVEL for Horngren's Cost Accounting: A Managerial Emphasis -- Access Card (16th Edition) (What's New in Accounting)
16th Edition
ISBN: 9780134789705
Author: Srikant M. Datar, Madhav V. Rajan
Publisher: PEARSON
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Textbook Question
Chapter 18, Problem 18.19MCQ
Fresh Products, Inc. incurred the following costs during December related to the production of its 162,500 frozen ice cream cone specialty items:
| Food product labor | $175,000 |
| Ice cream cone ingredients | 325,000 |
| Sales and marketing costs | 10,000 |
| Factory |
16,000 |
| Normal food spoilage | 4,000 |
| Abnormal spoilage | 3,000 |
What is the per unit inventory cost allocated to the company’s frozen ice cream cone specialty items for December?
- a. $3.18
- b. $3.20
- c. $3.22
- d. $3.26
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Fresh Products, Inc. incurred the following costs during December related to the production of its 162,500 frozen ice cream cone specialty items:
Food product labor $175,000
Ice cream cone ingredients 325,000
Sales and marketing costs 10,000
Factory overhead 16,000
Normal food spoilage 4,000
Abnormal spoilage 3,000
What is the per unit inventory cost allocated to the company’s frozen ice cream cone specialty items for December?
a. $3.18
b. $3.20
c. $3.22
d. $3.26
Fresh Products, Inc. incurred the following costs during December related to the production of its162,500 frozen ice cream cone specialty items:
Twisted Pretzel, Inc. had beginning Work-in-Process Inventory (WIP) of $10,000 and makes only one product. It incurred the following costs during the year:
Factory production worker wages
$ 40,000
Direct materials
20,000
Allocated factory rent
60,000
Allocated factory utilities
70,000
Sales commissions
100,000
At the end of the year WIP totaled $ 4,000. Calculate the total costs of goods manufactured and transferred to Finished Goods Inventory.
Chapter 18 Solutions
REVEL for Horngren's Cost Accounting: A Managerial Emphasis -- Access Card (16th Edition) (What's New in Accounting)
Ch. 18 - Why is there an unmistakable trend in...Ch. 18 - Distinguish among spoilage, rework, and scrap.Ch. 18 - Normal spoilage is planned spoilage. Discuss.Ch. 18 - Costs of abnormal spoilage are losses. Explain.Ch. 18 - What has been regarded as normal spoilage in the...Ch. 18 - Units of abnormal spoilage are inferred rather...Ch. 18 - In accounting for spoiled units, we are dealing...Ch. 18 - Total input includes abnormal as well as normal...Ch. 18 - Prob. 18.9QCh. 18 - The unit cost of normal spoilage is the same as...
Ch. 18 - In job costing, the costs of normal spoilage that...Ch. 18 - The costs of rework are always charged to the...Ch. 18 - Abnormal rework costs should be charged to a loss...Ch. 18 - When is a company justified in inventorying scrap?Ch. 18 - How do managers use information about scrap?Ch. 18 - Prob. 18.16MCQCh. 18 - Which of the following is a TRUE statement...Ch. 18 - Healthy Dinners Co. produces frozen dinners for...Ch. 18 - Fresh Products, Inc. incurred the following costs...Ch. 18 - Normal and abnormal spoilage in units. The...Ch. 18 - Weighted-average method, spoilage, equivalent...Ch. 18 - Weighted-average method, assigning costs...Ch. 18 - FIFO method, spoilage, equivalent units. Refer to...Ch. 18 - FIFO method, assigning costs (continuation of...Ch. 18 - Weighted-average method, spoilage. LaCroix Company...Ch. 18 - FIFO method, spoilage. 1. Do Exercise 18-25 using...Ch. 18 - Spoilage, journal entries. Plastique produces...Ch. 18 - Recognition of loss from spoilage. Spheres Toys...Ch. 18 - Weighted-average method, spoilage. LogicCo is a...Ch. 18 - FIFO method, spoilage. Refer to the information in...Ch. 18 - Standard-costing method, spoilage. Refer to the...Ch. 18 - Spoilage and job costing. (L. Bamber) Barrett...Ch. 18 - Reworked units, costs of rework. Heyer Appliances...Ch. 18 - Scrap, job costing. The Russell Company has an...Ch. 18 - Weighted-average method, spoilage. World Class...Ch. 18 - FIFO method, spoilage. Refer to the information in...Ch. 18 - Weighted-average method, shipping department...Ch. 18 - FIFO method, shipping department (continuation of...Ch. 18 - Physical units, inspection at various levels of...Ch. 18 - Spoilage in job costing. Jellyfish Machine Shop is...Ch. 18 - Rework in job costing, journal entry (continuation...Ch. 18 - Scrap at time of sale or at time of production,...Ch. 18 - Physical units, inspection at various stages of...Ch. 18 - Weighted-average method, inspection at 80%...Ch. 18 - Job costing, classifying spoilage, ethics....
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