Camden County CollegeReferencesXbMy Questions bartlebyChapter 3 Quiz+ vdenccinstructure.com/courses/3788/assignments/35967?module item id=88693Question 12--/-View PoliciesCurrent Attempt in ProgressConcord Company decided to analyze certain costs for June of the current year. Units started into production equaled 27000 and endingwork in process equaled 3500 units. With nowork in process was 20% complete and total conversion costs equaled $135520?beginning work in process inventory, how much is the conversion cost per unit if endingO $4.44.O $2.80.O $5.60.O $5.02.e Textbook and MediaAttempts: 0 of 1 usedSubmit AnswerSave for LaterNext >< PrevSend to Gradebook11:4210/4/2hpinsprt scf12f11If10f5f6f8homedeleteencII%num69backspace7lock

Conversion cost refers to the cost of a product without including the cost of raw material. It…

Answered: Camden County College References X b My…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter13: Budgeting And Standard Costs

Section: Chapter Questions

Problem 13.6.6P: Standards for nonmanufacturing expenses The Radiology Department provides imaging services for...

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profile-image Student question Time to preview question: 00 : 08 : 51 The Epsilon Co. have a building, which houses three production department, Alpha, Beta and Gamma, and one service department Delta. The service department, Delta is wholly involved in working for the three production departments and it is estimated that department Alpa uses 50%, department Beta uses 30% and department Gamma uses 20% of the services of department Delta. The budgeted overhead for the four departments for a period were: REQUIRED: a. Apportion the costs to the departments on the most equitable bases and calculate the overhead absorption rate, based on labour hours, for all the production department.
I. PROBLEM SOLVINGAnswer the following items on the space provided. Show your computations.At the beginning of 201A, ABC Company had the following standard costs for one (1) of its chemical products:Direct material (3 pounds at P3.20) P9.60Labor standard (0.9 hours at P9.00) 8.10Variable overhead (0.9 hours at P1.50) 1.35Fixed overhead (0.9 hours at P4.00) 3.60Total P22.65ABC computes its overhead rates using budgeted capacity, which is 144,000 units. Actual results for 201Aare:Units produced 140,000 unitsMaterials purchased 421,175 lbs. at P3.30Materials used 421,000 lbs.Direct labor 128,750 hrs at P8.90Fixed overhead P517,525Variable overhead 218,000Required: Indicate whether conditions are favorable or unfavorable. 4. Labor rate variance (LRV)5. Labor efficiency variance (LEV)6. Variable overhead (VOH) rate variance7. VOH efficiency variance8. Fixed overhead (FOH) spending variance9. FOH volume variance
I. PROBLEM SOLVINGAnswer the following items on the space provided. Show your computations.At the beginning of 201A, ABC Company had the following standard costs for one (1) of its chemical products:Direct material (3 pounds at P3.20) P9.60Labor standard (0.9 hours at P9.00) 8.10Variable overhead (0.9 hours at P1.50) 1.35Fixed overhead (0.9 hours at P4.00) 3.60Total P22.65ABC computes its overhead rates using budgeted capacity, which is 144,000 units. Actual results for 201Aare:Units produced 140,000 unitsMaterials purchased 421,175 lbs. at P3.30Materials used 421,000 lbs.Direct labor 128,750 hrs at P8.90Fixed overhead P517,525Variable overhead 218,000Required: Indicate whether conditions are favorable or unfavorable. 1. Material purchase price variance (MPPV)2. Material price usage variance (MPUV)3. Material quantity variance (MQV)4. Labor rate variance (LRV)5. Labor efficiency variance (LEV)6. Variable overhead (VOH) rate variance7. VOH efficiency variance8. Fixed overhead (FOH)…
E5-3A Stage Two ABC for Manufacturing: Reassigning Costs to Cost Objectives National Technology, LTD. has developed the following activity cost information for its manufacturing activities: Activity Activity Cost Machine setup $60.00 per batch Movement 15.00 per batch 0.10 per pound Drilling 3.00 per hole Welding 4.00 per inch Shaping 25.00 per hour Assembly 18.00 per hour Inspection 2.00 per unit Filling an order for a batch of 50 fireplace inserts that weighed 100 pounds each required the following: * Four batch moves * Two sets of inspections * Drilling ten holes in each unit * Completing 100 inches of welds on each unit * Forty-five minutes of shaping for each unit * One hour…
S3. Account Bismarck Cameras, Inc. manufactures two models of cameras. Model ZM has a zoom lens; Model DS has a fixed lens. Bismarck uses an activity-based costing system. The following are the relevant cost data for the previous month: Direct Cost per Unit Model ZM Model DS Direct materials $ 45 $ 20 Direct labor 32 15 Category Estimated Cost Cost Driver Use of Cost Driver Unit level $ 27,000 Number of units ZM: 2,400 units; DS: 9,600 units Batch level 50,000 Number of setups ZM: 25 setups; DS: 25 setups Product level 90,000 Number of TV commercials ZM: 15; DS: 10 Facility level 300,000 Number of machine hours ZM: 500 hours; DS: 1,000 hours Total $ 467,000 Bismarck’s facility has the capacity to operate 4,500 machine hours per month. Required Compute the cost per unit for each product. The current market price for products comparable to Model ZM is $200 and for DS is $86. If Bismarck sold all of its products at the market prices, what was its profit or loss for the previous month? A…
Kindly answer bolded questions. Thanks Greek Manufacturing Company produces and sells a line of product that are sold usually all year round. Thecompany has a maximum production capacity of 100,000 units per year. Operating at normal capacity, thebusiness earned Operating Income of $600,000 in 2020. The following cost data has been prepared for theyear ended December 31, 2020 Selling price per unit……………………………………… $50.00Production Costs:Direct Materials …………………………………. $10.00Direct Labour ……………………………………. $8.00Variable Manufacturing Overhead ……………. $7.00Fixed Manufacturing Overhead…………....................... $450,000Fixed Selling & Administrative Expenses……………… $300,000Variable selling expense per unit ………………………. $10.00 Required: a) Using the equation method, calculate the normal capacity of the business. b) Calculate:i) the variable production cost per unitii) the total production cost per unitiii) The total variable cost per unitiv) Total Fixed costs c) Calculate Greek’s…
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.
eBook Show Me How Question Content Area Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (8,000 units) $1,280,000 Production costs (10,000 units): Direct materials $592,000 Direct labor 284,000 Variable factory overhead 142,000 Fixed factory overhead 95,000 1,113,000 Selling and administrative expenses: Variable selling and administrative expenses $172,500 Fixed selling and administrative expenses 66,800 239,300
Question ABC Company has established standard costs for the furniture department, in which one (1) size of the cabinet is made. The standard costs of producing one (1) of these cabinets are shown below: Direct material (Lumber)50 board feet at P4.00 per foot P200.00Labor standard8 hours at P10.00 per hour 80.00Variable overhead8 hours at P5.00 per hour 40.00Fixed overhead8 hours at P3.00 per hour 24.00Total P344.00 During January 201A, 500 cabinets were produced. The actual cost of operations during the month are shown below: Direct materials purchased (30,000 board feet at P4.10 per board foot)P123,000Direct materials used (24,000 board feet)Direct labor (4,200 hours at P9.50 per hour) 39,900Total variable overhead cost 22,000Total fixed overhead cost 11,000 The budgeted overhead for the furniture department based on a normal monthly activity of 4,500 hours is P36,000, of which P22,500 is variable and P13,500 is fixed overhead. Requirements 1. Material purchase price variance…
Cornerstones of Cost Management 4th Ed. - Chapter 4 Scenario IV: Goodmark Company produces two types of birthday cards: scented and regular. Expected product data for the coming year are given below. Overhead costs are identified by activity. Scented Cards Regular Cards Total Units produced 20,000 200,000 - Prime costs $160,000 $1,500,000 $1,660,000 Direct labor hours 20,000 160,000 180,000 Number of setups 60 40 100 Machine hours 10,000 80,000 90,000 Inspection hours 2,000 16,000 18,000 Number of moves 180 120 300 Overhead costs: Setting up equipment $240,000 Moving materials 120,000 Machining 200,000 Inspecting products 160,000 Required: 1. Answer the following questions: a. Calculate the activity consumption ratios for Scented cards (round to two decimal places). Setups: Moving materials: Machining: Inspection: b. If only one rate based on direct labor hours were used to assign overhead, Scented Cards would receive…
Vehicle Production Numbers Model 3/Y 292,731 Model S/X 13,109 Total 305,840 Estimated Total Annual Overhead $3,727,000,000 Possible Cost Driver Information Amount for Model 3 in Q4 2021 Amount for Model S in Q4 2021 Estimated Total Annual Amount Number of vehicles (units) 292,731 13,109 950,000 Direct labor hours 1,651,000 428,562 8,250,000 Number of machine hours 792,156 122,892 3,525,000 Factory square footage* 6,500,000 3,000,000 9,250,000 Number of setups 334,587 62,498 1,620,000 Number of inspections 6,425,896 1,825,694 33,150,000 Number of unique parts per vehicle* 7,400 8,800 8,750 Number of shipments 1,950 1,025 12,500 Number of engineering support calls 68,255 21,356 350,000 Number of parts 1,211,084,000 141,653,600 5,350,000,000 Number of engineering support hours 194,572 95,200 1,242,000 Number of unique…
Course: Accounting for Decision Making and Control The West Point plan of Walkers Electronics Company has the following standards for component C91: Standards: Material 2 units of material B Material Price $10 per unit of B Direct labor 1 hour Wage rate $10 per direct labour hour Variable support cost rate $25 per direct labour hour Actual results for March Used 4,200 units of B, purchased at $9.75 per unit of B Paid for 2,000 direct labour hours at $11 per hour Incurred $48,000 of variable support costs Manufactured 2,000 units of component C91 Required: Determine any (5) five of following variances for March: Total direct material…

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