Determine the missing amounts for three different situations. Direct Materials Direct Total Labor Factory Manufacturing Overhead Used Used Costs (1) $42,400 $62,000 $52,600 (2) $76,700 $143,000 $297,000 (3) $56,900 $113,000 $313,000 %24
Q: 1. Raw materials used to produce $100,000 (all direct materials).2. Salaries costs incurred on…
A:
Q: Manufacturing overhead was estimated to be OMR 400,000 for the year along with estimated 20,000…
A: Manufacturing overheads are the indirect expenses which are related to the production of the product…
Q: The accounting records of Diego Company revealed the following costs, among others: Direct Material…
A: The correct answer will be option d i.e. 66,200.
Q: Direct materials used in production totaled P280,000. Direct labor was P375,000 and factory overhead…
A: Conversion costs=Direct labor+Factory overhead=P 375,000+P 180,000=P 555,000
Q: Manufacturing, Nonmanufacturing; Prime Costs, Conversion Costs The following is a list of…
A: Factory overhead costs means all type of indirect costs incurred for manufacturing. Direct…
Q: GrandSlam Inc. incurred the following costs during March: $158,600 290,000 42,300 100,050 485,000…
A: ''Since you have posted a question with multiple parts, we will solve the first three sub-parts for…
Q: Costs incurred by Carla Manufacturing Corporation during the year ar presented in the table below.…
A: The product cost includes the direct or indirect cost relating to the production.
Q: Manufacturing overhead was estimated to be OMR 415,000 for the year along with estimated 20,000…
A: Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labor hours = OMR…
Q: 1. Raw materials used to produce $100,000 (all direct materials).2. Salaries costs incurred on…
A: Overheads: It refers to the indirect expenditure related to the production of goods and services
Q: The related data of Jean Grey Company: Direct materials…
A: Formula: Product costs = Direct materials + Direct labor + Factory overheads Sum of direct materials…
Q: The following information was drawn from the accounting records of Marlin Manufacturing Co.…
A: Factory overheads: Its a indirect cost which cannot be traceable directly to the product. Its also…
Q: Manufacturing overhead was estimated to be OMR 415,000 for the year along with estimated 20,000…
A: PLEASE LIKE THE ANSWER YOUR RESPONSE MATTERS THE CORRECT ANSWER IS OPTION( E) OMR 400,000
Q: 20. Penner Company reported total manufacturing costs of $450,000, manufacturing overhead totaling…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: The related data of Amihan Company: Estimated overhead cost…
A: Predetermined Overhead rate = Estimated overhead cost / Estimated direct labor hours = P3,000,000 /…
Q: Company XYZ uses direct labor hours to allocate its manufacturing overhead. Manufacturing overhead…
A: Predetermined overhead rate = Total estimated Manufacturing overhead costs / total estimated direct…
Q: The work-in-process of the Parrott Corporation increased $11,500 from the beginning to the end of…
A: Cost of goods manufactured means the cost which is incurred to manufactured the finished goods…
Q: The following is a list of manufacturing costs incurred by Eros Manufacturing Co. during April:…
A: 1. Factory overhead cost incurred = Indirect materials + Indirect labor + Utilities expense + Rent…
Q: X Company reported total manufacturing costs of $330,000 out of which $53,000 were manufacturing…
A: "Since you have asked multiple questions, we will answer only first question for you. If you want…
Q: Sohar Soap Factory applies manufacturing overhead based on machine hours. Information concerning…
A: Formulas: Pre-Determined overhead rate(POHR) = Estimated manufacturing overhead ÷ Estimated machine…
Q: Selected data for the Young Company for 20X5 is presented below. Direct labor incurred Indirect…
A: Meaning of Manufacturing Overhead :- Manufacturing overhead is all indirect costs incurred during…
Q: The following information was drawn from the accounting records of Marlin Manufacturing Co.…
A: Product 1 $ Product 2 $ Product 3 $ Total $ Direct material 75,000 80,000 85,000 240,000…
Q: Manufacturing overhead was estimated to be OMR 400,000 for the year along with estimated 20,000…
A: The predetermined overhead rate is calculated as total estimated manufacturing overhead cost divided…
Q: X Company reported total manufacturing costs of $300,000, manufacturing overhead totaling $52,000,…
A: Total Manufacturing Cost = Direct Materials + Direct Labor + Manufacturing Overheads
Q: Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of…
A: 1. Compute the amount of overhead cost that would be applied to work in process for year and make…
Q: Direct materials used OMR 24,000 Direct labor OMR 36,800 Sales salaries OMR 19,200 Indirect labor…
A: Total manufacturing overheads are the sum of all indirect costs incurred in the process of…
Q: Rios Corporation reports costs for the year as follows: Direct Materials Used $465,000 Wages to…
A: Formula: Total product cost = Direct materials + Direct labor + Total manufacturing overhead.
Q: (a) Determine the missing amounts for three different situations. Direct Materials Used Direct Labor…
A: (1) Thus, the total manufacturing cost is $157,300
Q: Company XYZ uses direct labor hours to allocate its manufacturing overhead. Manufacturing overhead…
A: Applied manufacturing overhead indicates the overhead expenses that are applied to units of product…
Q: The following cost data were taken from the records of a manufacturing company: Depreciation on…
A: Manufacturing costs are costs that are incurred for production and manufacturing of goods.
Q: GrandSlam Inc. incurred the following costs during March: $158,600 290,000 42,300 100,050 485,000…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Manufacturing overhead was estimated to be OMR 400,000 for the year along with estimated 20,000…
A: Predetermined overhead rate = Estimated Manufacturing overhead / Direct labor hours = OMR 400000 /…
Q: Indicate the missing amount for each letter
A: Manufacturing cost data for Copa Company are presented below.Indicate the missing amount for each…
Q: 1. Cost of raw materials $132,000 2. Indirect materials $31,000 3. Indirect…
A: The overhead is applied to the production on the basis of predetermined overhead rate.
Q: Direct material used in production OMR 15,000: direct wages incurred OMR 9,500: direct expenses…
A: Absorption rate for Prime cost is calculated by dividing the total overhead costs by the prime cost…
Q: 1. Manufacturing cosls. 00,000. of which $80,000 is indirect labor. Materials ed. of which $280,000…
A: Finished goods refer to the resources or materials that have been completely transformed into…
Q: The following cost data relate to the manufacturing activities of Chang Company during the just…
A: Traditional absorption-based costing allocated costs based on a single cost factor which is…
Q: Manufacturing overhead was estimated to be OMR 415,000 for the year along with estimated 20,000…
A: Overhead are those expenses of the entity/firm which it made after getting the prime cost of the…
Q: The following information is available: -Estimated Factory Overhead for the year $10,000…
A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…
Q: Assume that a manufacturing company incurred the following costs: Direct labor $ 90,000 $ 40,000 $…
A: Manufacturing Overheads: Manufacturing overhead involves a company's manufacturing operations. It…
Q: PB7. Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the…
A: Predetermined overhead rate : It is to be calculated by dividing estimated overhead costs with…
Q: Muscat Company has the following data for the year ended 202 Direct materials used OMR 120,000…
A: Cost of goods manufactured (COGM) is a term utilized in managerial accounting that refers to a…
Q: Manufacturing overhead was estimated to be OMR 400,000 for the year along with estimated 20,000…
A: Predetermined rate = Estimated manufacturing overhead/Estimated hours
Q: Company XYZ uses direct labor hours to allocate its manufacturing overhead. Manufacturing overhead…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: The following cost data were taken from the records of a manufacturing company: Depreciation on…
A: Manufacturing costs are the costs which are incurred during the process of production of a product…
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- The following information relates to Wal-Mart Corporation for the past accounting period Cost Direct Center Cost Proportion of Services used by: S1 S2 S3 P1 P2 P3 S1 P120,000 .10 .30 .25 .20 .15 S2 80,000 .20 .40 .20 .20 S3 45,000 .60 .35 .05 P1 78,000 P2 99,000 P3 45,000 __________24. What amount will be allocated by S2 to P2 under direct method?The following information relates to Wal-Mart Corporation for the past accounting period Cost Direct Center Cost Proportion of Services used by: S1 S2 S3 P1 P2 P3 S1 P120,000 .10 .30 .25 .20 .15 S2 80,000 .20 .40 .20 .20 S3 45,000 .60 .35 .05 P1 78,000 P2 99,000 P3 45,000 __________29. Using algebraic method, how much is the cost to be allocated by S3 to S2? __________30. What is the total cost to be allocated by the servicing departments to producing departments?1) Calculate the cost of production that is incurred by Al Hood Manufacturing & Trading LLC. a. RO 22,000 b. RO 23,000 c. RO 25,000 d. RO 8,000
- The following information relates to Wal-Mart Corporation for the past accounting period Cost Direct Center Cost Proportion of Services used by: S1 S2 S3 P1 P2 P3 S1 P120,000 .10 .30 .25 .20 .15 S2 80,000 .20 .40 .20 .20 S3 45,000 .60 .35 .05 P1 78,000 P2 99,000 P3 45,000 __________28. Using the algebraic method, how much is the total costs to be allocated by S1 to all departments? __________29. Using algebraic method, how much is the cost to be allocated by S3 to S2? __________30. What is the total cost to be allocated by the servicing departments to producing departments?Mason Corporation has three business segments: paint, wallpapers, and tools. The company's assumed cost of capital is 12%. Financial information about each segment follows. Paint Segment Wallpaper Segment Tools Segment Paint Segment Wallpaper Segment Tools Segment Segment operating income $650,000 $475,000 $900,000 Invested capital 8,500,000 2,500,000 7,500,000 Calculate the residual income for Paint Segment. A. - $370,000 B. $0.076 C. $13.077 D. - $7,850 E. none of the above(J) Selected sales and operating data for three divisions of different structural engineering firms are given as follows: Division ADivision BDivision CSales$ 12,120,000$ 28,120,000$ 20,120,000Average operating assets$ 3,030,000$ 7,030,000$ 5,030,000Net operating income$ 496,920$ 449,920$ 503,000Minimum required rate of return7.00%7.50%10.00%Required: 1. Compute the margin, turnover, and return on investment (ROI) for each division. 2. Compute the residual income (loss) for each division. 3. Assume that each division is presented with an investment opportunity that would yield a 8% rate of return. a. If performance is being measured by ROI, which division or divisions will probably accept the opportunity? b. If performance is being measured by residual income, which division or divisions will probably accept the opportunity
- Following are sales and other operating data for the three products made and sold by Legacy Corporation: Product A B C Total Sales P 600,000 P 300,000 P 200,000 P 1,100,000 Less: Manufacturing costs: Fixed 60,000 20,000 60,000 140,000 Variable 280,000 220,000 100,000 600,000 Selling and administrative expenses: Fixed 20,000 20,000 12,000 52,000 Variable 40,000 20,000 30,000 90,000 Total costs P 400,000 P 280,000 P 202,000 P 882,000 Net income P 200,000 P 20,000 P (2,000) P 218,000 Required: (Support your answers by showing your computations.) 1. In view of the net loss for Product C, Legacy’s management is considering dropping that product. All variable costs are direct costs and would be eliminated if Product C were dropped. Fixed costs are indirect costs; no fixed costs would be eliminated. Assume that the space used to produce Product C would be left idle. 2. Would you…How much is the cost of goods sold of the branch to be included in thecombined financial statements? A. 900,000B. 1,500,000C. 1,200,000D. 1,800,000Spades Company provided the following information for the year ended December 31, 2022: Sales 8,000,000Sales salaries 520,000Advertising 120,000Indirect labor 600,000Delivery expense 160,000Freight in 80,000Depreciation – machinery 50,000Factory taxes 130,000Purchases 1,600,000Direct labor 1,480,000Factory supplies expense 120,000Office supplies expense 30,000Office salaries 800,000Factory superintendence 480,000Doubtful accounts 100,000Factory maintenance 150,000Factory heat, light and power 220,000Income tax expense 170,000 Doubtful accounts are common costs allocated to administrative expenses and selling expense equally. Inventory balancesat the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods 200,000 IncreaseGoods in process 90,000 IncreaseRaw materials 100,000 Decrease Tax rate is 30%. 1. What is the amount of cost of goods sold for the current period?2. What is the amount of general and administrative…
- Spades Company provided the following information for the year ended December 31, 2022: Sales 8,000,000Sales salaries 520,000Advertising 120,000Indirect labor 600,000Delivery expense 160,000Freight in 80,000Depreciation – machinery 50,000Factory taxes 130,000Purchases 1,600,000Direct labor 1,480,000Factory supplies expense 120,000Office supplies expense 30,000Office salaries 800,000Factory superintendence 480,000Doubtful accounts 100,000Factory maintenance 150,000Factory heat, light and power 220,000Income tax expense 170,000 Doubtful accounts are common costs allocated to administrative expenses and selling expense equally. Inventory balancesat the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods 200,000 IncreaseGoods in process 90,000 IncreaseRaw materials 100,000 Decrease Tax rate is 30%. 1. What is the amount of cost of goods sold for the current period?2. What is the amount of general and administrative…Spades Company provided the following information for the year ended December 31, 2022: Sales 8,000,000Sales salaries 520,000Advertising 120,000Indirect labor 600,000Delivery expense 160,000Freight in 80,000Depreciation – machinery 50,000Factory taxes 130,000Purchases 1,600,000Direct labor 1,480,000Factory supplies expense 120,000Office supplies expense 30,000Office salaries 800,000Factory superintendence 480,000Doubtful accounts 100,000Factory maintenance 150,000Factory heat, light and power 220,000Income tax expense 170,000 Doubtful accounts are common costs allocated to administrative expenses and selling expense equally. Inventory balancesat the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods 200,000 IncreaseGoods in process 90,000 IncreaseRaw materials 100,000 Decrease Tax rate is 30%. Questions 3. What is the amount of selling and distribution expense for the current period?4. How much is the net income for…The following data relates to Campus Goods Inc:  Required: Based on the above data determine the following: 8A. Cost of Goods Sold in $ is ___________. 250,000 100,000 150,000 220,000 unanswered 8B. Gross Profit in $ and % is ___________ and ___________ respectively. 250,000 and 20% 180,0000 and 40% 180,000 and 45% 220,000 and 45% unanswered 8C. Operating expenses is ___________. 100,000 150,000 200,000 120,000 unanswered 8D. Operating profit in $ is ___________. 55,000 65,000 80,000 70,000