The following information is made available for October, what is the process quality yield?
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Q: FIFO method of costing
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A:
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Q: The materials price variance for March is:
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A: Requirement a: Calculate costs of beginning work in process inventory completed in November.
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A: SOLUTION COST OF GOOD SOLD = SALES - GROSS PROFIT.
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A: Introduction: Process costing steps: Process costing is used when there is mass production of…
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Q: The following information is made available for October, what is the process quality yield? * Sample…
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A:
The following information is made available for October, what is the process quality yield?
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- Bowie Inc., a manufacturer of earnings, has accumulated the following cost information for products A and B: Production volume Engineering costs incurred Engineering costs per batch Batch size Total direct manufacturing labor hours Direct manufacturing labor hours/unit A $2.67 $4.00 $1.60 B $2.14 $3.00 500 $1.50 $2,000 $800 200 750 1.5 B 1,000 Assuming activity-based costing (ABC) is used, what is the engineering cost per unit for products A and B? $3,000 $1,500 500 1,400 Total $5,000 2,150Exercise 7-4 (Algo) Second-Stage Allocation [LO7-4] Klumper Corporation is a diversified manufacturer of industrial goods. The company's activity-based costing system contains the following six activity cost pools and activity rates: Activity Cost Pool Supporting direct labor Machine processing Machine setups Number of units produced per year Direct labor-hours Activity Rate $ 11 per direct labor-hour $5 per machine-hour $ 45 Production orders Shipments $ 120 per shipment Product sustaining $ 900 per product Activity data have been supplied for the following two products: Machine-hours Machine setups Production orders Shipments Product sustaining per setup $ 160 per order Total Expected Activity K425 M67 2,000 200 1,025 2,600 7 7 14 3 50 40 3 3 3 3 Required: How much total overhead cost would be assigned to K425 and M67 using the activity-based costing system?Direct labor Direct materials Overhead Total variable overhead Total fixed overhead Expected units to be produced Product cost per unit under absorption costing $ SA GA $ 17 per unit 11 per unit $30,000 $100,000 50,000 units
- EXERCISE 1 XYZ Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity $45,000 80,000 15,000 30,000 50,000 Number of moves Material-handling costs.. Machine costs... 450 Machine hours.. Number of orders. Number of parts.. Number of setups.. 20,000 Order costs.. 750 Receiving costs.. Setup costs.. 50,000 250 Assume that each activity corresponds to a process. XYZ's normal activity is 5,000 direct labor hours. The following two jobs were completed during March: Job X-1 Job Y-4 $1,500 $750 Direct materials $2,000 $750 Direct labor ($15 per hour)... Units completed... Number of moves. Machine hours.. Number of orders. Number of parts. Number of setups.. 200 200 3 6 125 75 3 12 200 800 1 4 Required: 1. Determine the unit cost for each job using direct labor hours to apply overhead.Direct labor 17 per unit 11 per unit 2$ Direct materials 24 Overhead Total variable overhead Total fixed overhead Expected units to be produced $ 30,000 $100, e00 50,e00 units Product cost per unit under absorption costingPer Unit Total\\nDirect materials $ 5.00 \\nDirect labor 2.00 \\nSupervision 1.90 $ 123,500\\nDepreciation 1.40 $ 91,000\\nVariable manufacturing overhead 0.60 \\nRent 0.60 $ 39,000\\nTotal product cost $ 11.50 \\n \\n\\nIf Futura decides to make the starters, a supervisor would have to be hired (at a salary of $123,500) to oversee production. However, the company has sufficient idle tools and machinery such that no new equipment would have to be purchased. The rent charge above is based on space utilized in the plant. The total rent on the plant is $81,000 per period. Depreciation is due to obsolescence rather than wear and tear.\\n\\n \\n\\nRequired:\\n\\nWhat is the financial advantage (disadvantage) of making the 65,000 starters instead of buying them from an outside supplier?
- ssume the following information: Milling Department Materials Conversion Total Cost of beginning work in process inventory $ 10,000 $ 15,000 $ 25,000 Costs added during the period 291,600 394,500 686,100 Total cost $ 301,600 $ 409,500 $ 711,100 Assume the equivalent units of production for materials and conversion, when using the weighted-average method, are 5,200 units and 5,000 units, respectively. If the equivalent units in ending work in process inventory for materials and conversion are 400 units and 200 units, respectively, then what is the total cost of ending work in process for the Milling Department?Cost per equivalent unit this period Cost in beginning work-in-process inventory Equivalent units to complete beginning inventory Direct Materials $3.00 $24,000 0 Conversion $5.00 $29,400 2,400 Units started and completed this period 26,000 26,000 Equivalent units in completed ending inventory 12,000 4,800 Materials are added at the beginning of the production process. Conversion costs are added uniformly throughout the production process. Assuming a FIFO flow of costs, what is this company's computed total production cost transferred out during the period?Question Content Area Compute conversion costs given the following data: direct materials, $376,200; direct labor, $200,400; factory overhead, $179,400 and selling expenses, $48,400. a. $555,600 b. $131,000 c. $756,000 d. $379,800
- Total product cost per unit under absorption costing = Units produced = 1000Direct Materials = $ 6Direct Labor = $10Fixed overhead =$ 6000Variable overhead = $ 6Fixed Selling & Admin = $ 2000Variable Selling & Admin $ 2(Appendix 11A) Manufacturing Cycle Efficiency Kurena Company provided the following information on one of its factories: Maximum units produced in a quarter: 180,000 units Actual units produced in a quarter: 112,500 units Hours of cell production labor in a quarter: 30,000 hours Theoretical cycle time: 10 minutes per unit Actual cycle time: 16 minutes per unit Required: 1. Calculate the amount of processing time per unit and the amount of nonprocessing time per unit. 2. Calculate the MCE (rounded to three significant digits).What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials, $17,000; direct labor, $33,000; and manufacturing overhead, $70,000? A. $16,000 B. $50,000 C. $103,000 D. $120000
