b) Powders Sdn. Bhd. involves in processing andpackaging crispy flour at Pekan Penaga. Theoperating costs incurred including packaging anddelivery costs. The following are data on theoperating cost and weights of crispy flour for the last6 months of 2023: Month Crispy flour (kg) Operatingcost (RM) July 33,500 63,460 August 30, 000 64, 200September 50,200 79,200 October 55, 000 80, 450November 43, 200 73,440 December 48,500 81,700Based on the above information, you are required touse the High-Low method to determine thefollowings: i) variable cost per unit; ii) fixed cost; iii)cost function; and operating cost incurred if theweight of crispy flour is 163, 000 kg.

The variable cost per unit is calculated by dividing the change in operating cost by the change in…

Answered: b) Powders Sdn. Bhd. involves in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A. Syarikat Aman Sdn Bhd (SASB), which began operations on 1 January 2019, reportedthe following information: (RM)Estimated manufacturing overhead = RM 600,000Actual manufacturing overhead= RM 639,000Estimated direct labour cost= RM 480,000Actual direct labour cost =RM 500,000Total debits in the Work-In-Process account =RM 1,880,000Total credits in the Finished Goods account = RM920,000 SASB uses a normal costing system and applies manufacturing overhead to jobs on the basis of direct labour cost. A 60% markup is added to the completed production when finished goods are sold. On 31 December 2019, job no.18 was the only job in process. The job had direct material and direct labour charges of RM16,500 and RM36,000, respectively. REQUIRED:(a) Discuss THREE (3) criteria that differ job-order costing from process costing. (b) Calculate the overapplied or underapplied manufacturing overhead for SASB and prepare a journal entry to…
In March 2020, Chester Bhd purchased material costing RM28,000 and incurred direct labour cost of RM40,000. Manufacturing overhead amounted RM 72,000 for the month. Other information pertaining to production are as follows: 1 March 2020 31 March 2020 Materials 16,200 4,600 Work in Process 2,400 18,000 Finished Goods 14,000 13,000 Requirement: Determine the cost of raw materials used in the production Calculate the prime cost Calculate the cost of goods manufactured for March 2020
A. Syarikat Aman Sdn Bhd (SASB), which began operations on 1 January 2019, reportedthe following information: (RM)Estimated manufacturing overhead = RM 600,000Actual manufacturing overhead= RM 639,000Estimated direct labour cost= RM 480,000Actual direct labour cost =RM 500,000Total debits in the Work-In-Process account =RM 1,880,000Total credits in the Finished Goods account = RM920,000 SASB uses a normal costing system and applies manufacturing overhead to jobs on the basis of direct labour cost. A 60% markup is added to the completed production when finished goods are sold. On 31 December 2019, job no.18 was the only job in process. The job had direct material and direct labour charges of RM16,500 and RM36,000, respectively. REQUIRED:(a) Discuss THREE (3) criteria that differ job-order costing from process costing. (b) Calculate the overapplied or underapplied manufacturing overhead for SASB and prepare a journal entry to…
X Co. Ltd. produces three types of products A, B and C and keeps accounts for Process I, Process II and Process III. Following statements show the relative importance of each type of product in each process : Process I Points Process II Points Process III Points Product A Product B 2 4 2 4 2 1 Product C 8 3 2 Costs for each process for March, 2019 are as follows : Process I Process II $ 9,000 3,000 5,100 Process III $ 9,000 1,800 2,400 Total Materials Labour Overheads 12,000 4,200 3,000 $ 30,000 9,000 10,500 19,200 17,100 13,200 49,500 Production during the period : Product A 600 units ; Product B 300 units ; Product C 900 units. You are required to- (a) prepare a statement showing weighted average production for each process and (b) compute the cost for each type of product.
The following data were taken from the records of Westbrooks Company: INVENTORIES Aug. 31, 2020 Sept. 30, 2020 Raw Materials ₱00? ₱50,000 Work-in-Process ₱80,000 ₱95,000 Finished Goods ₱60,000 ₱78,000 Additional Information: Raw materials purchased ₱46,000 Factory overhead, 75% of direct labor cost ₱63,000 Selling and administrative expenses, 12.5% of sales ₱25,000 Net Income for September 2020 ₱25,000 What is the total manufacturing cost.. Show solution Group of answer choices ₱183,000 ₱200,000 ₱150,000 ₱168,000
(d) DRS Manufacturing has the following standards for one of its products: [DRS Manufacturing mempunyai standad berikut untuk salah satu produknya:] Table 9: Production Costs [Jadual 9: Kos-kos Pengeluaran] Direct materials (2 meter @ RM5) Direct labor (0.5 hour @ RM10) RM10 RM5 During the most recent year, the following actual results were recorded: [Pada tahun terakhir, hasil sebenar berikut direkodkan:] Table 10: Production Costs [Jadual 10: Kos-kos Pengeluaran] 6,000 units Production Direct materials (11,750 meter purchased and used) RM61,100 Direct labor (2,900 hours) RM29,580 Required: (Dikehendaki:] Interpret the materials price and usage variances. [Tafsirkan varian harga dan penggunaan bahan-bahan.] (ii) Interpret the labor rate and efficiency variances. [Tafsirkan varian kadar buruh dan kecekapan.]
The following data were taken from the records of Westbrooks Company: INVENTORIES Aug. 31, 2020 Sept. 30, 2020 Raw Materials ₱00? ₱50,000 Work-in-Process ₱80,000 ₱95,000 Finished Goods ₱60,000 ₱78,000 Additional Information: Raw materials purchased ₱46,000 Factory overhead, 75% of direct labor cost ₱63,000 Selling and administrative expenses, 12.5% of sales ₱25,000 Net Income for September 2020 ₱25,000 What is the cost of raw materials inventory on August 31, 2020? Show solution Group of answer choices ₱40,000 ₱63,000 ₱36,000 ₱46,000
Hw.52. The manufacturing concern has the following data available for the month of March 2020:Total manufacturing cost Rs. 10,000Total cost of goods manufactured Rs.15,500Cost of material purchased Rs.3,500Direct Labour Rs.2,100Direct material_ Begining Rs.3,100Direct material Ending Rs.600The amount of FOH must be RS. O a. 1,900 O b. 2,000 O C. 2,900 • d. 2,100
Salik Sdn Bhd is the producer of industrial lubricant made from palm oil waste. The following is data that have been collected prior to production in the beginning of 2023. Direct materials (Per unit product) Kg Rm Raw Materials 1 Usage 4.00 2.00 Direct labor (Per unit product) DLH(Hours) Rate Direct labor Cost 10 2.50 Variable Overheads DLH Rate Variable overheads: (per direct labor hour) 10.00 2.00 a. Calculate the Standard Variable Cost Per Unit for each of the manufacturing cost.
At the end of April 2022 PT Rajawali presented the company's cost data. Raw material inventory is Rp. 15,000,000. The purchase of raw materials is Rp. 35,000,000, the cost to the warehouse is 10%, and the purchase return is 10%. Indirect raw materials used amounted to Rp. 6,000,000.00. The use of direct raw materials and indirect raw materials uses one account, and on July 31, 2021, there is still a raw material inventory of Rp. 5,000,000,00 Requested: Make it with the cost information above, the amount of raw materials that are ready to be used, and the direct materials used. Note: write down along with the complete way of working
COGM & INCOME STATEMENT PT AMBARWATI plans to compile a Cost Of Goods Manufactured and Income Statement in September 2020. The following is the cost data needed in preparing the report: a. Purchase of raw materials of 2,000 units at a price of Rp. 18,000 / unit. Transportation costs are 1.5% of the purchase b. Employee working hours are 4,800 direct work hours at a rate of IDR 5,000 / direct work hour c. Transactions that occurred in September: Indirect material used Rp 7.000.000 Electricity ( 70% used for factories) Rp 2.000.000 Factory Maintenance Rp 1.000.000 Depreciation (40 used for office) Rp 4.000.000 Property tax ( 80% used for factories) Rp 6.000.000 Utilities ( 65% used for factories) Rp 8.000.000 Office Salaries Rp 12.000.000 Gross profit Rp 93.500.000 d. Sales of Rp. 181,000,000 with sales returns and discounts of 0.5% of gross sales e. Selling expenses were 2.5% of net sales, administrative and general expenses…
The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense P 435,000 215,000 190,000 185,000 1. What is Antonio's prime cost for last quarter? a. P460,000 b. P410,000 c. P405,000 d. P 375,000 2. Antonio's total manufacturing cost is a. P460,000 b. P 645,000 . P 650,000 d. P 840,000

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