16:28Job order costing-activity 2.docxFactory OverheadAfter reviewing the quantities on hand, endinginventories were:210,000Work in process inventoryFinished goods inventory280,000430,000What is the total cost of goods available for sale?4. JYD Manufacturing Company showed the followinginformation as of June 1, 2020;Raw materials inventoryWork in process inventoryFinished goods inventoryP320,000400,000350,000During the month of June, the following were incurredMaterials purchasedP170,000200,000400.000Materials usedDirect laborFactory OverheadAfter reviewing the quantities on hand, endinginventories were:Work in process inventoryFinished goods inventory210,000280,000430,000How much was the Cost of goods sold?5. Peter Senen Company has the following cost data as ofSept 1, 2020Materials purchasedP170,000200,000400,000210,00050,000Materials usedDirect laborFactory overheadOffice rentHow much is the total manufacturing costs?6. Peter Senen Company has the following cost data as ofSept 1, 2020Materials purchasedP170,000200,000400,000210,00050,000Materials usedDirect laborFactory overheadOffice rentWhat is the total prime costs?7. Peter Senen Company has the following cost data as ofSept 1, 2020Materials purchasedP170,0003000DashboardCalendarTo DoNotificationsInbox 16:28Job order costing-activity 2.docxActivity 2-Job Order Costing1. JYD Manufacturing Company showed the followinginformation as of June 1, 2020;Raw materials inventoryWork in process inventoryFinished goods inventoryP320,000400,000350,000During the month of June, the following were incurredMaterials purchasedP170,000200,000Materials usedDirect labor400.000Factory OverheadAfter reviewing the quantities on hand, endinginventories were:Work in process inventoryFinished goods inventory210,000280,000430,000What is the raw materials inventory as of June 30, 2020?2. .JYD Manufacturing Company showed the followinginformation as of June 1, 2020;Raw materials inventoryWork in process inventoryFinished goods inventoryP320,000400,000350,000During the month of June, the following were incurredMaterials purchasedP170,000200,000400.000Materials usedDirect laborFactory OverheadAfter reviewing the quantities on hand, endinginventories were:210,000Work in process inventoryFinished goods inventory280,000430,000What is the total cost of goods manufactured during themonth?3. JYD Manufacturing Company showed the followinginformation as of June 1, 2020;Raw materials inventoryWork in process inventoryFinished goods inventoryР20,000400,000350,000During the month of June, the following were incurredMaterials purchasedP170,000200,000Materials usedDirect labor400.0003000DashboardCalendarTo DoNotificationsInbox

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Description: 16:28Job order costing-activity 2.docxFactory OverheadAfter reviewing the quantities on hand, endinginventories were:210,000Work in process inventoryFinished goods inventory280,000430,000What is the total cost of goods available for sale?4. JYD Manu

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4. JYD Manufacturing Company showed the following information as of June 1, 2020; Raw materials inventory Work in process inventory Finished goods inventory P320,000 400,000 350,000 During the month of June, the following were incurred Materials purchased P170,000 200,000 Materials used Direct labor 400.000 Factory Overhead After reviewing the quantities on hand, ending inventories were: 210,000 Work in process inventory Finished goods inventory 280,000 430,000 How much was the Cost of goods sold?

4. JYD Manufacturing Company showed the following information as of June 1, 2020; Raw materials inventory Work in process inventory Finished goods inventory P320,000 400,000 350,000 During the month of June, the following were incurred Materials purchased P170,000 200,000 Materials used Direct labor 400.000 Factory Overhead After reviewing the quantities on hand, ending inventories were: 210,000 Work in process inventory Finished goods inventory 280,000 430,000 How much was the Cost of goods sold?

Financial & Managerial Accounting

14th Edition

ISBN:9781337119207

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter18: Activity-Based Costing

Section: Chapter Questions

Problem 18.8EX: Identifying activity bases in an activity-based cost system Select Foods Inc. uses activity-based...

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Analyzing manufacturing cost accounts Fire Rock Company manufactures Designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for June: In addition, the following information is available: a . Materials and direct labor were applied to the following jobs in June: b. factory overhead is applied to each job at a rate of 140% of direct labor cost c. The June 1 Work in Process balance consisted of two job as follows: Job No. Style Work In Process, June 1 201 T100 16,500 202 T200 44,000 Total 60,500 d. Customer jobs completed and units sold in June were as follows: Instructions 1. Determine the missing amounts associated with each letter. Provide supporting calculations by completing a table with the following headings: 2. Determine the June 50 balances for each of the inventory accounts and factor overhead.
Communication The controller of New Wave Sounds Inc. prepared the following product profitability report for management, using activity-based costing methods for allocating both the factory overhead and the marketing expenses. As such, the controller has confidence in the accuracy of this report. Home Theater Speakers Wireless Speakers Wireless Headphones Total Sales 1,500,000 1,200,000 900,000 3,600,000 Cost of goods sold 1,050,000 720,000 810,000 2,580,000 Gross profit 450,000 480,000 90,000 1,020,000 Marketing expenses 600,000 120,000 72,000 792,000 Income from operations (150,000) 360,000 18,000 228,000 In addition, the controller interviewed the vice president of marketing, who provided the following insight into the company's three products: The home theater speakers are an older product that is highly recognized in the marketplace. The wireless speakers are a new product that was just recently bunched. The wireless headphones are a new technology that has no competition in the marketplace, and it is hoped that they will become an important future addition to the companys product portfolio. Initial indications are that the product is well received by customers. The controller believes that the manufacturing costs for all three products are in line with expectations. Based on the information provided: 1. Calculate the ratio of gross profit to sales and the ratio of income from operations to sales for each product. 2. Write a brief (one page) memo using the product profitability report and the calculations in (1) to make recommendations to management with respect to strategies for the three products.
Identifying activity bases in an activity-based cost system Select Foods Inc. uses activity-based costing to determine product costs. For each activity listed in the left column, match an appropriate activity base from the right column. You may use items in the activity-base list more than once or not at all. Activity Activity Base Accounting reports Engineering change orders Customer return processing Kilowatt hours used Electric power Number of accounting reports Human resources Number of customers Inventory control Number of customer orders Invoice and collecting Number of customer returns Machine depreciation Number of employees Materials handling Number of inspections Order shipping Number of inventory transactions Payroll Number of machine hours Production control Number of material moves Production setup Number of payroll checks processed Purchasing Number of production orders Quality control Number of purchase orders Sales order processing Number of sales orders Number of setups
Analyzing manufacturing cost accounts Fire Rock Company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are .summarized for June: Matenals In addition, the following information is available: A. Materials and direct labor were applied to six jobs in June: Job No. Style Quantity Direct Materials Direct Labor 201 T100 550 55,000 41,250 202 T200 1,100 93,500 71,500 203 T400 550 38,500 22,000 204 S200 660 82,500 69,300 20S T300 480 60,000 48,000 206 S100 380 22,000 12,400 Total 3,720 351,500 264,450 B. Factory overhead is applied to each job at a rate of 140% of direct Libor cost. C. The June 1 Work Process balance consisted of two jobs, as follow Work in Process, Job No. Style June 1 201 T100 16,500 202 T200 44,000 Total 60,500 D. Customer jobs completed and units sold in June were at follows Job Mo. Style Completed In June Units Sold in June 201 T100 X 440 202 T200 X 880 203 T400 0 204 S200 X 570 20S T300 X 420 206 S100 0 Instructions 1. Determine the missing amounts associated with each letter. Provide supporting calculations by completing a table with the following headings: Job No Quantity June 1 Work in Process Direct Materials Direct Labor Factory Overhead Total Cost Unit Cost Units Sold Cost of Goods Sold 2. Determine the June 30 balances for each of the inventory accounts and factory overhead.
Managerial analysis The controller of the plant of Minsky Company prepared a graph of the unit costs from the job cost reports for Product One. The graph appeared as follows: How would you interpret this information? What further information would you request?