Cengagenowv2, 1 Term Printed Access Card For Mowen/hansen/heitger?s Managerial Accounting: The Cornerstone Of Business Decision-making, 7th

7th Edition

ISBN: 9781337115926

Author: MOWEN, Maryanne M.; Hansen, Don R.; Heitger, Dan L.

Publisher: Cengage Learning

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Textbook Question

Chapter 2, Problem 19BEA

Use the following information for Brief Exercises 2-19 and 2-20:

Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $32,000 were put into production. Direct labor of $28,000 (10 workers × 200 hours × $14 per hour) was incurred. Manufacturing overhead equaled $60,000. By the end of the week, the company had manufactured 500 hockey sticks.

Brief Exercise 2-19 Total Product Cost and Per-Unit Product Cost

Refer to the information for Slapshot Company above.

Required:

1. Calculate the total product cost for last week.
2. Calculate the per-unit cost of one hockey stick that was produced last week.

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Chapter 2 Solutions

Cengagenowv2, 1 Term Printed Access Card For Mowen/hansen/heitger?s Managerial Accounting: The Cornerstone Of Business Decision-making, 7th

Ch. 2 - Explain the difference between cost and expense.Ch. 2 - What is the difference between accumulating costs...Ch. 2 - What is a cost object? Give some examples.Ch. 2 - What is a direct cost? An indirect cost? Can the...Ch. 2 - What is allocation?Ch. 2 - What is the difference between a product and a...Ch. 2 - Define manufacturing overhead.Ch. 2 - Explain the difference between direct materials...Ch. 2 - Define prime cost and conversion cost. Why cant...Ch. 2 - How does a period cost differ from a product cost?

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Solution Summary: The author explains that the total product cost is 120,000, and the per unit cost of one hockey stick is 240.

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Chapter 2 Solutions