CengageNOWv2 | Online teachin xA v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3falseAssignment 7b: Chapter 23 Exercises eBookE Print ItemDirect Materials, Direct Labor, and Factory Overhead Cost Variance AnalysisMackinaw Inc, processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6.400 units of productwere as follows:Standard CostsActual CostsDirect materials8,300 lb. at $4.708,200 Ib. at $4.50Direct labor1,600 hrs. at $18.701,640 hrs. at $18.90Factory overheadRates per direct labor hr.based on 100% of normalcapacity of 1,670 directlabor hrs.:Variable cost, $3.40$5,390 variable costFixed cost, $5.40$9,018 fixed costEach unit requires 0.25 hour of direct labor.Required:a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign andan unfavorable variance as a positive number.Direct materials price varianceDirect materials quantity varianceTotal direct materials cost varianceCheck My WorkPreviousO Search1:14 AMO 4) G ENG12/4/2020 engageNOWv2 |Online teachinA v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%3falsesignment 7b: Chapter 23 ExerciseseBookE Print ItemEach unit requires 0.25 hour of direct labor.Required:a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign andan unfavorable variance as a positive number.Direct materials price varianceDirect materials quantity varianceTotal direct materials cost varianceb. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorablevariance as a positive number.Direct labor rate varianceDirect labor time varianceTotal direct labor cost varianceC. Determine variable factory overhead controllable variance, the fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative numberusing a minus sign and an unfavorable variance as a positive number.Variable factory overhead controllable varianceFixed factory overhead volume varianceTotal factory overhead cost varianceCheck My WorkPreviousO Search[]1:144) A ENG12/4/

Required variance are as follows:

Answered: akeA b: Chapter 23 Exercises еBook…

Business

Accounting

akeA b: Chapter 23 Exercises еBook rials Diroct Lahor and Eactor ct Var

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....

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CengageNOWv2 | Online teachin x * Cengage Learning + n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook E Print Item Equivalent Units of Production: Weighted Average Cost Method The following information concerns production in the Finishing Department for May. The Finishing Department uses the weighted average cost method. ACCOUNT Work in Process-Finishing Department ACCOUNT No. Balance Date Item Debit Credit Debit Credit May 1 Bal., 25,400 units, 70% completed 101,600 31 Direct materials, 124,500 units 303,780 405,380 31 Direct labor 188,300 593,680 31 Factory overhead 191.400 785,080 31 Goods transferred, 132,100 units 755,612 29,468 31 Bal., 2 units, 30% completed 29,468 a. Determine the number of units in work in process inventory at the end of the month. units b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May. Whole units units Equivalent units of…
b My Questions | bartleby PoF ACCT3039-Unit 4.pdf O Unit 4 -Discussion Question 303 x + PDF A marl File | C:/Users/Ronnick%20Douglas/OneDrive/Desktop/Advanced%20Manage. ... Activity-Based Costing, Traditional Costing 1. The controller for Mitchell Supply Company has established the following overhead cost pools and cost drivers: Overhead Cost Pool Machine setups Material handling Quality control inspection Other overhead costs Total Budgeted Overhead Cost $150,000 52,500 37,500 90.000 $330.000 Cost Driver Number of setups Units of raw material Number of inspections Machine hours Overhead Cost Pool Machine setups Material handling Quality control Other overhead Budgeted Level for Cost Driver 100'setups 50,000 units 1,000 inspections 15,000 machine hours Overhead Rate $1,500 per setup $1.05 per unit $37.50 per inspection $6 per machine hour Order no. 610 has the following production requirements: Machine setups Raw material Inspections Machine hours 5 setups 10,000 units 12 inspections…
ivity Based Costing Assignment i nces s://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https... Al A" ☆ aw 71 N F2 Ly Homework: Activity Based Costin X Required information [The following information applies to the questions displayed below.] # 3 Part Z Part X Totals E Textra produces parts for a machine manufacturer. Parts go through two departments, Molding and Trimming. The company budgets overhead cost of $265,000 in the Molding department and $225,000 in the Trimming department. The company budgets 16,000 machine hours (MH) in Molding and 25,000 direct labor hours (DLH) in Trimming. Actual production information follows. Number of Units 3,000 4,000 F3 Complete this question by entering your answers in the tabs below. R F4 Q Search % Molding Department Hours per Unit 2.0 MH per unit 2.5 MH per unit Required: 1. Compute a departmental overhead rate for the Molding department based on machine hours and a departmental ove rate for the Trimming…
oad Assignment: Module 4 E x * CengageNoWv2 | Online teachin x cakeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionlocator=&inprogress-false eBook Show Me How Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item Balance Debit Credit Debit Credit Mar. 1 Bal., 7,500 units, 2/5 completed 15,750 31 Direct materials, 135,000 units 243,000 258,750 31 Direct labor 69,670 328,420 31 Factory overhead 39,194 367,614 31 Goods finished, 136,800 units 355,530 12,084 31 Bal. ? units, 2/5 completed 12,084 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during March 4. Cost of units…
Upload Assignment: Module 4 Ex * CengageNOwv2 | Online teachin x un/takeAssignment/takeAssignmentMain.do?invoker =&takeAssignmentSessionLocator &inprogress-false O eBook Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 2,000 units, 35% completed 5,440 To Finished Goods, 46,000 units Direct materials, 47,000 units @ $1.6 75,200 Direct labor 114,200 Factory overhead 44,410 Bal. 2 units, 45% completed a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period. 2. Cost of units transferred to finished goods during the period. 24 3. Cost of ending work in process inventory. 4. Cost per unit of the completed…
Class Work - Word Sign in File Home Insert Draw Design Layout References Mailings Review View Help O Tell me what you want to do 요 Share 1 . . . ' ' .I .. 1 . I . . 2 .. I ... 3 . .. I . . 4 .. I . 5. . .I. . . 6 . . Comprehensive Problem Xavier Company produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct Material: 6 ounces at $0.5 per Ounce $3 Direct Labor: 1.8 hours at $10 per hour MOH: 1.8 hours at $5 per hour 18 Total Standard Variable Cost Per Unit $30 During June, 2,000 units were produced. The costs associated with June's operations were as follows: Materials Purchased: 18,000 ounces at $0.60 per ounce $10,800 Materials used in Production: 14,000 ounces Direct Labor: 4000 hours at $9.75 per hour --- $39,000 MOH Costs Incurred $20,800 Requirements: a. Compute the direct materials, direct labor, and variable manufacturing overhead variances both for…
Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?
AI - E H E If Border Corporation uses direct labor hours in a traditional costing system to assign overhead - Saved - AutoSave Off Normal badiya aldujaili BA EN File Home Insert Draw Design Layout References Mailings Review View Help A Share O Comments X Cut Calibri (Body) v 11 - A^ A° Aav A E - E - E E E O Find - AaBbCcDc AaBbCcDc AaBbC AABBCCC AaB A BBCCC AaBbCcDa A Copy Paste S Replace В IUvab х, х* А I Normal 1 No Spac.. Heading 1 Heading 2 Title Subtitle Subtle Em.. A Select v Dictate Editor Format Painter Clipboard Font Paragraph Styles Editing Voice Editor 1.. | 1''' I 2 4 7 Use the following information to answer questions the next two questions: Border Corporation identified the following activities related to annual expected overhead costs at the beginning of 2018. Expected Overhead Activity Moving Materials Inspections Ordering Maintenance Expected Quantity 500 Expected Cost $ 16,000 $ 22,400 $ 13,900 $ 161,200 Expected Activity Driver Number of moves Number of inspection…
AI - E H E If Border Corporation uses direct labor hours in a traditional costing system to assig... AutoSave ff Normal badiya aldujaili BA EN File Home Insert Draw Design Layout References Mailings Review View Help A Share O Comments X Cut Calibri (Body) 11 - A^ A Aav A E E AaBbCcDc AaBbCcDc AaBbC AABBCCC AaB AAB6CCC AaBbCcDa O Find - 自Copy Paste S Replace В IUvab х, х* А 1 Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em.. A Select v Dictate Editor Format Painter Clipboard Font Paragraph Styles Editing Voice Editor 2 3 4 . 7 , . . Fort, Inc incurred $128,730 of actual manufacturing overhead cost last year. The company used a predetermined overhead rate of $3 per direct labor hour. At the end of the reporting period, the company's manufacturing overhead account has a debit balance of $4,500. How many direct labor hours were worked last year? a. 42,410 hours b. 38,410 hours c. 40,190 hours d. 13,500 hours e. 42,910 hours f. 44,410 hours g. 41,410 hours h. None of the…
G. H. B. Process Cost Practice Quiz Part 1 The following information is related to the blending department: 1. 1,900 units in beginning WIP, 60X completed as to conversion costs 2. Direct Materials added: 22,000 units 3. Goods completed and transterred total 21,800 units 4. All materials are added at the beginning of the process. 5. Beginning WIP was $7,657 10 6. Cost of DMadded during the month: $77,000 7. Cost of DL added during the month: $14,200 8. Factory overhead applied during the month: $6,880 13 9. Ending WIP inventory is 20% completed as to conversion costs 14 15 12 Required. 16 1 Compute total units to be assigned costs 2. Compute Group 1-3 whole units and equivalent units 18 R.Compute cost per equivalent unit for materials and conversion costs 18 4. Using cost per equivalent unit above, determine (A) cost transferred 20 21 22 out of WIP to next department and (B) cost assigned to ending WIP VIP- Blending Dept. 23 Units Units 24 25 26 Beginning 27 28 23 DM 30 31 32 DL 33 34…
/takeAssignment/takeAssignmentMain.do?invoker=Dassignments&takeAssignmentSessionLocator%3Dassignment-take&inprogress%-false ☆ ロ eBook Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling $110,700 Number of moves 4,500 Engineering 153,900 Number of change orders 9,000 Other overhead 310,000 Direct labor hours 50,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job 13-45 Job 13-46 Beginning balance $24,900 $19,800 $2,900 $0 Direct materials $5,800 $9,900 $13,200 $9,500 Direct labor cost $810 $1,080 $1,560 $130 Job 13-43 Job 13-44 Job 13-45 Job 13-46 Number of moves 45 48 33 4 Number of change orders 27 40 23 18 Direct labor hours 810 1,080 1,560 130 By July 31, Jobs 13-43 and 13-44 were completed…
File Edit View History Bookmarks Window Help System (Academic) A elearn.squ.edu.om erial Accounting || fall20 Which one of the following is correct about variable costing systems? Select one: 1 a. Normally result into a lower product cost compared to absorption costing systems b. Calculate product cost as the sum of directs materials, direct labor, manufacturing overhead costs, and selling cost c. Calculate product cost as the sum of directs materials, direct labor and manufacturing overhead costs d. Focuses on both variable and fixed costs.