3-2 Assignment Costing Methods a

MANAGERIAL ACCOUNTING I NEED FAST ANSWER THANKS   Babylon Furniture manufactures sofa sets and seats. The company uses a standard cost accounting system. In June 2022, the actual production amount is 20,000 seats. The following standard and actual cost data applied to the month of June when the normal capacity was 18,000 direct labor hours. All materials purchased were used in production. Cost Element / Standard (per unit) / Actual (per unit) Direct materials / 5 meters at $6.90 per meter / 5,3 meters at $7 per meter Direct labor / 1.0 hours at $11.40 per hour / 0,9 hours at $11 per hour a.) Compute total, price and quantity variances for direct materials. b.) Compute total, rate and efficiency variances for direct labor.

Case Study 1- Output Decisions Using Systems of Linear Equations Let's assume that you have a company that buys goods from a local factory and you resell them online . .You buy product A for $ 16 and sell it for $ 19 . Each unit of product B brings you $ 12 of profit and each unit of product costs $ 31 . You lost your inventory books but you have the following information about the last month : Your total profit was $ 17,334 The total number of products B and C you sold were 1,269 The only delivery of product you received was for $ 15,531 You fulfilled an order for one product A and one product C and you charged customer $ 56 . Find the number of sold items and the profit for each product .

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Question 3 Part I Advent Corporation has implemented an Activity Based Costing System. The company wants to useABC on its two main products, V1 and V2, and three main activities as follows:ActivityCost Driver Overhead Amount Total Driver VolumeIssuing Purchase Orders # of Purchase Orders $ 150,000 50,000Reviewing Receiving Reports # of Receiving Reports $ 175,000 20,000Making Phone Calls # of Phone Calls $ 450,000 100,000During the year:Product V1 required 150 purchase orders; 150 receiving reports; and 200 phone calls.Product V2 required100 purchase orders; 400 receiving reports; and 350 phone calls. Required:a. Compute the pre-determined overhead rate for each cost pool. b. Compute the total manufacturing overhead cost for Product V1 and Product V2.

View Policies Current Attempt in Progress E-Flix rents DVDS that are mailed out to customers upon demand. E-Flix has identified three activities involved in getting the videos to its customers. Information on those activities for the month of July follows: Estimated Expected Use of Cost Drivers Cost Pools Cost Drivers Overhead Cost Order taking costs Number of orders $20,592 187,200 orders Technology support Number of minutes $11,700 234,000 minutes Picking and shipping Number of DVDS $39,624 330,200 DVDS costs During July, the Tucker family placed 17 orders consisting of 21 DVDs. Tucker required 7 minutes of tech support. Customers pay $9.00 per month to rent unlimited DVDS. Using ABC, how much overhead is applied to the Tucker family account for order taking costs? O $4.74 O $2.52 O $1.871 O $6.45 Submit Answer Save for Later Attempts: 0 of 1 used 2:27 PM 10/13/20 e

Need help solving question 5 The Walton Toy Company manufactures a line of dolls and a sewing kit. Demand for the company’s products is increasing, and management requests assistance from you in determining an economical sales and production mix for the coming year. The company has provided the following data: Product Demand Next year (units) Selling Price per Unit Direct Materials Direct Labor Debbie 63,000 $ 21.00 $ 5.60 $ 4.20 Trish 55,000 $ 7.50 $ 2.40 $ 1.44 Sarah 48,000 $ 36.50 $ 8.39 $ 7.80 Mike 48,000 $ 16.00 $ 3.30 $ 5.40 Sewing kit 338,000 $ 9.30 $ 4.50 $ 0.84   The following additional information is available:     The company’s plant has a capacity of 94,310 direct labor-hours per year on a single-shift basis. The company’s present employees and equipment can produce all five products. The direct labor rate of $12 per hour is expected to remain unchanged during the coming year. Fixed manufacturing costs total $650,000 per year. Variable overhead…

Flow of Costs and Income Statement Technology Accessories Inc. is a designer, manufacturer, and distributor of accessories for consumer electronic products. Early in 20Y3, the company began production of a leather cover for tablet computers, called the iLeather. The cover is made of stitched leather with a velvet interior and fits snugly around most tablet computers. In January, $757,000 was spent on developing marketing and advertising materials. For the first six months of 20Y3, the company spent an additional $1,402,000 promoting the ileather. The product was ready for manufacture on January 21, 20Y3. Technology Accessories Inc. uses a job order cost system to accumulate costs for the ileather. Direct materials unit costs for the ileather are as follows: Leather $10.00 Velvet 5.00 Packaging 0.40 Total $15.40 The actual production process for the iLeather is fairly straightforward. First, leather is brought to a cutting and stitching machine. The machine cuts the leather and stitches…

Flow of Costs and Income Statement Technology Accessories Inc. is a designer, manufacturer, and distributor of accessories for consumer electronic products. Early in 20Y3, the company began production of a leather cover for tablet computers, called the iLeather. The cover is made of stitched leather with a velvet interior and fits snugly around most tablet computers. In January, $769,000 was spent on developing marketing and advertising materials. For the first six months of 20Y3, the company spent an additional $1,402,000 promoting the iLeather. The product was ready for manufacture on January 21, 20Y3. Technology Accessories Inc. uses a job order cost system to accumulate costs for the iLeather. Direct materials unit costs for the iLeather are as follows: Leather $10.00 Velvet 5.00 Packaging 0.40 Total $15.40 The actual production process for the iLeather is fairly straightforward. First, leather is brought to a cutting and stitching machine. The machine cuts the leather…

Flow of Costs and Income Statement Technology Accessories Inc. is a designer, manufacturer, and distributor of accessories for consumer electronic products. Early in 20Y3, the company began production of a leather cover for tablet computers, called the iLeather. The cover is made of stitched leather with a velvet interior and fits snugly around most tablet computers. In January, $769,000 was spent on developing marketing and advertising materials. For the first six months of 20Y3, the company spent an additional $1,407,000 promoting the iLeather. The product was ready for manufacture on January 21, 20Y3. Technology Accessories Inc. uses job order costing to accumulate costs for the iLeather. Direct materials unit costs for the iLeather are as follows: Leather $10.00 Velvet 5.00 Packaging 0.40 Total $15.40 The actual production process for the iLeather is fairly straightforward. First, leather is brought to a cutting and stitching machine. The machine cuts the leather and stitches an…

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Flow of Costs and Income Statement Technology Accessories Inc. is a designer, manufacturer, and distributor of accessories for consumer electronic products. Early in 20Y3, the company began production of a leather cover for tablet computers, called the iLeather. The cover is made of stitched leather with a velvet interior and fits snugly around most tablet computers. In January, $778,000 was spent on developing marketing and advertising materials. For the first six months of 20Y3, the company spent an additional $1,409,000 promoting the iLeather. The product was ready for manufacture on January 21, 20Y3. Technology Accessories Inc. uses a job order cost system to accumulate costs for the iLeather. Direct materials unit costs for the iLeather are as follows: Leather $10.00 Velvet 5.00 Packaging 0.40 Total $15.40 The actual production process for the iLeather is fairly straightforward. First, leather is brought to a cutting and stitching machine. The machine cuts the leather…

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Flow of costs and income statement   Technology Accessories Inc. is a designer, manufacturer, and distributor of accessories for consumer electronic products.Early in 20Y3,the company began production of a leather cover for tablet computers, called the iLeather.The cover is made of stitched leather with a velvet interior and fits snugly around most ttablet computers.In January, $750,000 was spent on developing marketing and advertising materials. For the first six months of 20Y3,the company spent an additional $1,400,000 promoting the iLeather.The product was ready for manufacture on January 21, 20Y3.   Technology Accessories Inc. uses ajob order cost system to accumulate costs for the iLeather. Direct materials unit costs for the iLeather are as follows:   Leaher $10.00 Velvet 5.00 packaging       0.40 Total $15.40     The actual production process for the iLeather is fafrly straightforward. First,leather is brought to a cutting and stitching machine. The…

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Time remaining: 00:08:51 Accounting The Walton Toy Company manufactures a line of dolls and a sewing kit. Demand for the company’s products is increasing, and management requests assistance from you in determining an economical sales and production mix for the coming year. The company has provided the following data: ProductDemand Next year (units)Selling Price per UnitDirect MaterialsDirect LaborDebbie74,000$ 25.50$ 5.10$ 3.85Trish66,000$ 5.20$ 2.00$ 1.12Sarah59,000$ 33.00$ 10.04$ 5.95Mike40,000$ 17.00$ 4.40$ 4.55Sewing kit349,000$ 10.40$ 5.60$ 0.77 The following additional information is available:   The company’s plant has a capacity of 152,800 direct labor-hours per year on a single-shift basis. The company’s present employees and equipment can produce all five products. The direct labor rate of $7 per hour is expected to remain unchanged during the coming year. Fixed manufacturing costs total $625,000 per year. Variable overhead costs are $3 per direct labor-hour. All of…

Question 1: Service Costing & ABC Part AAfrican Adventure Ltd offers a series of holiday packages aimed at families, seniors, and corporate groups. The financial controller is preparing for the annual board meeting and is concerned about the loss the business sustained in the past year. He has examined the profits for each of the three departments of the business and it seems that the corporate department is the source of the problem.The financial controller looked at the three packages offered by the corporate department to establish which are profitable or not profitable. The sales and direct cost of each package for the last year are as follows:South Africa Egypt NamibiaNumber of packages sold 10 20 10Number of people per package 5 6 8Revenue per person $18,000 $12,000 $14,000Direct cost per package: Tour leader $5,000 $12,000 $9,000 Tour assistant $2,000 $3,000 $6,000 Air travel $28,000 $30,000 $32,00 Accommodation $15,000 $26,000 $24,000 Equipment hires $4,000 0 $9,000 Meals…

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Accounting

apter Review i Walton Chairs, Incorporated makes two types of chairs. Model Diamond is a high-end product designed for professional offices. Model Gold is an economical product designed for family use. Jane Silva, the president, is worried about cut-throat price competition in the chairs market. Her company suffered a loss last quarter, an unprecedented event in its history. The company's accountant prepared the following cost data for Ms. Silva: Direct Cost per Unit Direct materials. Direct labor Category Unit level Batch level Product level Facility level Total Model Diamond (D) $20.60 per unit $18.80/hour x 2.00 hours production time. Type of Product Estimated Cost $249,600 1,036, 000 612,000 870,000 $ 2,767,600 a. Model Diamond a. Model Gold b. Model Diamond b. Model Gold Cost Driver Number of units Number of setups Number of TV commercials Number of machine hours The market price for office chairs comparable to Model Diamond is $119 and to Model Gold is $73. Cost per Unit aved…

Data ​1-2-3 is a​ top-selling electronic spreadsheet product. is about to release version 5.0. It divides its customers into two​ groups: new customers and upgrades customers​ (those who previously purchased  Data ​1-2-3, 4.0, or earlier​ versions). Although the same physical product is provided to each customer​ group, sizable differences exist in selling prices and variable marketing​ costs:                                      New Customers                      Upgrade Customers Selling price                               $225                                               $125 Variable costs Manufacturing     $30                                          $30 Marketing              65                   95                     15                          45 Contribution margin                 $130                                                $80     The fixed costs of Data ​1-2-3 5.0 are $16,500,000. The planned sales mix in units is 60​% new customers and 40​% upgrade customers.…

Flow of costs and income statement Instructions Amount Descriptions Income Statement Final Question   XInstructions Ginocera Inc. is a designer, manufacturer, and distributor of custom gourment kitchen knives. A new kitchen knife series called the Kitchen Ninja was released for production in early 20Y8. In January, the company spent $600,000 to develop a late-night advertising infomercial for the new product. During 20Y8, the company spent an additional $1,400,000 promoting the product through these infomercials, and $800,000 in legal costs. The knives were ready for manufacture on January 1, 20Y8.Ginocera uses a job order cost system to accumulate costs associated with the Kitchen Ninja Knife. The unit direct materials cost for the knife is: Hardened steel blanks (used for knife shaft and blade)$4.00Wood (for handle)1.50Packaging0.50 The production process is straightforward. First, the hardened steel blanks, which are purchased directly from a raw material supplier, are stamped into…

Question 18 View Policies Current Attempt in Progress E-Flix rents DVDS that are mailed out to customers upon demand. E-Flix has identified three activities involved in getting the videos to its customers. Information on those activities for the month of July follows: Estimated Expected Use of Cost Drivers Cost Pools Cost Drivers Overhead Cost Order taking costs Number of orders $20,592 187,200 orders Technology support Number of minutes $11,700 234,000 minutes Picking and shipping Number of DVDS $39,624 330,200 DVDS costs During July, the Tucker family placed 17 orders consisting of 21 DVDS. Tucker required 7 minutes of tech support. Customers pay $9.00 per month to rent unlimited DVDS. Using ABC, how much overhead is applied to the Tucker family account for technology support? O Some other answer O $1.87 O $0.05 o$0.35 2:28 P ) 10/13/23

Subject: acounting

Using variable costing, what is the unit product cost for both years?

.. 3· 1.. 5 74 1.Computing ABC Product Costs Fogerty Company makes two products, titanium. Hubs and Sprockets. Data regarding the two products follow: Direct Labor-Hours Annual per Unit 0.70 Production Hubs 20,000 units 40,000 units Sprockets 0.30 Additional information about the company follows: a. Hubs require $29 in direct materials per unit, and Sprockets require $12. b.The direct labor wage rate is $10 per hour. c. Hubs are more complex to manufacture than Sprockets and they require special equipment. d. The ABC system has the following activity cost pools: Activity Estimated Sprockets 207 Activity Cost Pool (Activity Measure) Machine setups (number of setups) Special processing (machine-hours) General factory (organization-sustaining) Overhead Cost Total 27,945 236,500 74,000 Hubs 115 4,300 NA 92 0 4,300 NA NA 24 24 Required: 1. Compute the activity rate for each activity cost pool. 2. Determine the unit product cost of each product according to the ABC system. O Focus

Required information Skip to question   [The following information applies to the questions displayed below.]   Davis Stores sells clothing in 15 stores located around the southwestern United States. The managers at Davis are considering expanding by opening new stores and are interested in estimating costs in potential new locations. They believe that costs are driven in large part by store volume measured by revenue. The following data were collected from last year’s operations (revenues and costs in thousands of dollars).   Store Revenues Costs 101 $4,100 $4,214 102 2,227 2,894 103 5,738 5,181 104 3,982 3,998 105 2,914 3,676 106 4,023 3,319 107 6,894 5,029 108 1,779 2,374 109 5,416 4,688 110 3,228 2,959 111 3,886 4,179 112 4,690 3,200 113 3,552 2,556 114 4,817 4,655 115 2,124 2,986     Required: a. Use the high-low method to estimate the fixed and variable portions of store costs based on revenues.

Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000    $7,900    $135,000    12,000 shelves 144,000    14,800    135,000    24,000 shelves 288,000    28,600    135,000    30,000 shelves 360,000    35,500    135,000      2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places. Cost Fixed Portionof Cost Variable Portionof Cost (per Unit) Lumber $fill in the blank…

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Question content area top Part 1 Red Rose Manufacturers Inc. is approached by a potential customer to fulfill a onetimeonly special order for a product similar to one offered to domestic customers. The company has excess capacity. The following per unit data apply for sales to regular​ customers:       Variable​ costs:           Direct materials ​$120         Direct labor 100         Manufacturing support 115         Marketing costs 85     Fixed​ costs:           Manufacturing support 155         Marketing costs 55     Total costs 630     Markup​ (40%) 252     Targeted selling price ​$882   What is the full cost of the product per​ unit?  A. ​$420 B. ​$252 C. ​$882 D. ​$630