Compute for the total Factory overhead cost of Department H if the company uses the direct method and the producing departments using the following bases: Department H, 100,000 direct labor hours; and Department G, 195,000 direct labor hours.
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Compute for the total
![The Madalilangto Ink Company prepared the following table for the year 2019:
Production
Service Departments
Departments
H
U
V
w
770,000
120,500
420,000
170,000
15,000
23,000
9,500
7,000
7,500
Rent
250,000
100,000
350,000
157,500
61,000
14,500
30,000
7,000
Repairs
Fuel
6,000
Indirect Labor
145,000
100,000
97,500
Indirect
56,500
127,000
94,500
60,000
Materials
Heat and Light
6,000
151,200
71,300
50,500
Following is the result of the factory survey regarding service departments:
[A] Department U services G, V, and W in the ratio of 2:1:1, respectively;
[B] Department services Department H, G, U, and w in the ratio of 4:3:2:1, respectively;
[C] Department W services Department H and G in the ratio of 3:1, respectively.
202,500
94,000
60,000
9,000
7,500
2,000
3,000
Depreciation
Miscellaneous
1,500
500
500
500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd3bb9fcf-0b29-40ba-af71-b0ec75f06711%2Fb5933c4e-27f2-4496-84d8-3d61dffb2634%2Frilxm04_processed.png&w=3840&q=75)
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- The following extract of costing information relates to a commodity A for the halfyear ending 31:12.2020PARTICULARSPurchase of raw. materialsWorks OvetheadsDirect WagesCarriage on purchasesStock (1.7.2018) Raw MäterialsFinished Products (1000 Tonnes)Stock (31.12.2018) Raw MaterialsWork in progress (WIP)1.7.201831.12.2018Sales of finished productsAMOUNT (R$)• 1.20.00048.0001.00.0001,44020,00016.00022.2404.80016,0003.00.000Selling and distribution overheads are Re.1 per ton sold. 16,000 tonnes of commodity wereproduced during the period. Prepare a cost sheet.Swifty Corporation prepared a 2019 budget for 135000 units of product. Actual production in 2019 was 145000 units. To be most useful, what amounts should a performance report for this company compare?Information concerning sales and production for ABC Co. for November 2019 are summarized asfollows:A. Estimated Sales:Product X: 80,000 units at $60, per unitProduct Y: 40,000 units at $130 per unitB. Estimated inventories, November 1, 2019Material A: 8,000 lbs Product X: 6,000 units at $34 per unit $204,000Material B: 7,000 lbs Product Y: 5,400 units at $70 per unit 378,000Total $582,000C. Desired inventories at November 30,2019Material A: 6,000 lbs Product X: 5,000 units at $34 per unit $170,000Material B: 5,000 lbs Product Y: 4,000 units at $70 per unit 280,000Total $450,000D. Direct materials used in productionProduct X Product YMaterial A 1.4 lbs per unit 7.0 lbs per unitMaterial B 2.4 lbs per unit 3.6 lbs per unitE. Unit costs for direct materialsMaterial A: $ 8.0 per lbMaterial B: $ 4.0 per lbF. Direct labor requirementsDepartment 1 Department 2Product X 0.8 hr per unit 0.30 hr per unitProduct Y 1.2 hr per unit 0.50 hr per unitWhat to do:1. Prepare a sales budget for November2.…
- 25. The following information pertains to the production of Beautiful Company for the month of January 2022: SHOWN IN PICTURE a. • P999,750 b.• P970,000 c. • P996,502 d. • P1,005,000ABC Company provided you the following net income and inventories for 2021 and 2022: 2021 2022Net income using FIFO 750,000 1,000,000Year-end inventories FIFO 1,400,000 2,000,000Year-end inventories - Weighted Average 900,000 1,600,000 What is the net income for the year 2022 using the weighted average costing method?On January 1,2022, the Vaughn Company budget committee has reached agreement on the following data for the 6 months ending June 30,2022. Sales units: First quarter 7,200: second quarter 8,640: third quarter 10,080.Ending raw materials inventory: 40% of the next quarter's production requirements.Ending finished goods inventory: 25% of the next quarter's expected sales units.Third-quarter production: 10,430 units. The ending raw materials and finished goods inventories at December 31,2021, follow the same percentage relationships to production and sales that occur in 2022. Three pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. Total Required DIrect Labor HoursTotal Pounds Needed for productionDirect Material PurchasesCost Per PoundDirect Labor Cost Per HourTotal Cost of Direct Material PurchasesDirect Materials Per unitUnits to be…
- A product manager has responsibility for a single product and is in the process ofsubmitting data to be compiled into budgets for 2019. The manager has performancetargets set in relation to sales volume, profitability levels and a target cash surplus from the product.Shown below are the agreed budgeted sales for the product for December 2018 toMay 2019.Dec Jan Feb Mar April MayUnits 14,000 16,000 22,000 17,000 20,000 24,000The company policy is that, at each month end, the closing stock of finished goods shouldbe 25% of the following month’s forecast sales and the stock of raw material should besufficient for 10% of the following month’s production. Stock levels currently conform tothis policy. One unit of raw material makes one unit of finished stock, there is no wastage.Raw material purchases are paid for during the month following the month of purchase. All other expenses are paid for as incurred. All sales are made on credit and the companyexpects cash receipts for 50% of sales in…The information provided below was taken from the records of Chotoo Projects for the financialyear ended 31 May 2020.Extract of statement of comprehensive income for the year ended 31 May 2020RRevenue 480 000Direct costs 240 000Rent income 150 000Advertising 4 800Salaries and wages 90 000Rates and taxes 1 200Other operating expenses 80 000Additional information1. Revenue is calculated as direct cost plus 25%.2. Revenue is divided equally each month. Revenue is expected to increase by 18% for thefinancial year ending 31 May 2021.POSTGRADUATE DIPLOMA IN PROJECT MANAGEMENT – ACADEMIC AND ASSESSMENT CALENDARREGENT BUSINESS SCHOOL (RBS) January 2021 173. Fifty percent (50%) of the revenue is for cash and the balance is on credit. Debtorsnormally pay their accounts as follows:• 40% in the month of the invoice, and these debtors are entitled toa 5% discount;• 55% one month after the invoice;The balance is usually written off as bad debts.4. Purchases for June and July are expected to be 30…Presented below is information related to Kaisson Corporation for the last 3 years. Base-Year Cost Current-Year Cost Item Quantitiesin EndingInventories Unit Cost Amount Unit Cost Amount December 31, 2019 A 9,000 $2.00 $18,000 $2.20 $19,800 B 6,000 3.00 18,000 3.55 21,300 C 4,000 5.00 20,000 5.40 21,600 Totals $56,000 $62,700 December 31, 2020 A 9,000 $2.00 $18,000 $2.60 $23,400 B 6,800 3.00 20,400 3.75 25,500 C 6,000 5.00 30,000 6.40 38,400 Totals $68,400 $87,300 December 31, 2021 A 8,000 $2.00 $16,000 $2.70 $21,600 B 8,000 3.00 24,000 4.00 32,000 C 6,000 5.00 30,000 6.20 37,200 Totals $70,000 $90,800 Instructions Compute the ending inventories under the dollar-value LIFO method for 2019, 2020, and 2021. The base period is January 1, 2019, and the beginning inventory cost at that date was $45,000. Compute indexes to two decimal places.
- JPS CC collected the following statistics in order to allocate their overheads among the various departments: Cost items Production A Production B Service C Value of equipment N$ 15 000 N$ 9 000 N$ 6 000 Number of employees 36 24 20 Floor space 400m^2 300m^2 200m^2 Material used N$ 40 000 N$ 30 000 N$ 5 000 Direct labour hours 1 300 700 905 Machine hours 450 305 195 the following amounts represent the budgeted overheads for 2019: Depreciation on equipment 900 Rent of factor building 2 250 Electricity factory 900 Protective clothing 800 Cafeteria 720 Insurance building 450 Insurance machinery 750 Overhead allocation rates are based on labour hours, while the secondary apportionment of the service department takes place according to machine hours. Required: (a) Calculate the overhead analysis of each of the two production departments for 2003 (b) Calculate the absorption rate for the production departments. (c) What causes under/over absorption rates.On January 1, 2020, the Carla Vista Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2020. Sales units: First quarter 5,400; second quarter 6,100; third quarter 7,900. Ending raw materials inventory: 40% of the next quarter’s production requirements. Ending finished goods inventory: 25% of the next quarter’s expected sales units. Third-quarter production: 7,430 units. The ending raw materials and finished goods inventories at December 31, 2019, follow the same percentage relationships to production and sales that occur in 2020. 5 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $6 per pound. A) Prepare a production budget by quarters for the 6-month period ended June 30, 2020. B) Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2020.What is the total costs of work in process at December 31, 2021 in Department C? P40,932.58 P46,035.41 P42,352.58 P22,097.00