1
To prepare: Journal entries for both normal and abnormal rework.
Given information:
Cost of manufacturing one controller is $220. This cost includes direct materials at the rate of $120, direct manufacturing labor at the rate $24 and manufacturing
Cost of rework is $72. This cost includes direct materials at the rate of $24, direct manufacturing labor at the rate $18 and manufacturing overhead at the rate of $30.
2
The total rework cost of controllers in august 2014
Given information:
Cost of manufacturing one controller is $220. This cost includes direct materials at the rate of $120, direct manufacturing labor at the rate $24 and manufacturing overhead at the rate of $76.
Cost of rework is $72. This cost includes direct materials at the rate of $24, direct manufacturing labor at the rate $18 and manufacturing overhead at the rate of $30.
3
Total cost of controller and cost per unit as well as prepare journal entries for order received from Australia
Given information:
An order received for 200 units of controllers from Australia along with regular routine work. Cost of manufacturing one controller is $220. This cost includes direct materials at the rate of $120, direct manufacturing labor at the rate $24 and manufacturing overhead at the rate of $76.
Cost of rework is $72. This cost includes direct materials at the rate of $24, direct manufacturing labor at the rate $18 and manufacturing overhead at the rate of $30.
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Chapter 18 Solutions
COST ACCT-W/ACCESS >C< NON-MAJORS
- Novelli's Nursery has developed the following data in order to calculate the lower of cost or net realizable value for its products. The individual products are listed within the categories of trees. Selling Price Cost Broad leaf trees: Ash $ 1,840 $ 1,740 Beech 2,260 1,640 Needle leaf trees: Cedar $ 2,580 $ 1,790 Fir 3,700 3,390 Fruit trees: Apple $ 1,840 $ 1,440 Cherry 2,360 1,840 The costs to sell are 10% of selling price. Required: Determine the reported inventory value assuming the lower of cost or net realizable value rule is applied to the total inventory.arrow_forwardNonearrow_forwardhello tutor provide correct answer general accountingarrow_forward
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- Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Apparel Supplies Selling price $ 168,000 $ 163,000 $ 109,000 $ 66,000 Cost 140,000 142,000 70,850 42,900 Replacement cost 131,000 128,000 90,850 38,900 Sales commission 10% 10% 10% 10% In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at: Multiple Choice $151,200. $131,000. $140,000. $117,600.arrow_forwardHow much is reggies amount realized?arrow_forwardThe budget for the month ended .arrow_forward
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