$26 fx A B D G K R 1 Formula: Add, Subtract; Cell Referencing Using Excel to Calculate Manufacturing Costs Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area. Use the SUM function when indicated. Presented below are incomplete manufacturing cost data. 7 Direct Total Manufacturing Costs Materials Direct Labor Factory Overhead 50,000 Used Determine the missing amounts for three different situations. Used $ 61,000 75,000 1. $ 40,000 $ 140,000 111,000 11 2. ? 2$ 296.000 1. Total manufacturing costs 12 3. 55,000 310,000 13 2. Direct materials used 14 3. Direct labor used L6 L7 8 20 21

$26 fx A B D G K R 1 Formula: Add, Subtract; Cell Referencing Using Excel to Calculate Manufacturing Costs Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area. Use the SUM function when indicated. Presented below are incomplete manufacturing cost data. 7 Direct Total Manufacturing Costs Materials Direct Labor Factory Overhead 50,000 Used Determine the missing amounts for three different situations. Used $ 61,000 75,000 1. $ 40,000 $ 140,000 111,000 11 2. ? 2$ 296.000 1. Total manufacturing costs 12 3. 55,000 310,000 13 2. Direct materials used 14 3. Direct labor used L6 L7 8 20 21

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....

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3 2. An intern suggested that the company use activity-based costing to cost its products. A team was formed to investigate this idea, and it came back with the recommendation that four activity cost pools be used. These cost pools and their associated activities follow: 5 ints 00:40:40 Activity Cost Pool and Activity Measure Purchase orders (number of orders) Rework requests (number of requests) Product testing (number of tests) Machine related (machine-hours) Activity Cost Pool Purchase orders Rework requests Product testing Machine related Estimated Overhead Cost $ 170,000 374,400 350,000 1,150,000 $2,044,400 Compute the activity rate (i.e., predetermined overhead rate) for each of the activity cost pools. Activity Rate per order per request per test per MH Deluxe 1,000 600 5,000 18,000 Activity Regular 1,500 1,200 12,500 28,000 Total 2,500 1,800 17,500 46,000 3. Assume that actual activity is as expected for the year. Using activity-based costing, do the following: a. Determine the…
TB MC Qu. 1-72 The cost of lubricants ... The cost of lubricants used to grease a production machine in a manufacturing company is an example of a(n): Multiple Choice indirect material cost. direct material cost. period cost. opportunity cost.
Info from image "ACC PT1" can be applied to image "ACC PT2" and (b) below is ssociated with image "ACC PT2" (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply The predetermined overhead rate changed.unanswered The change in the actual manufacturing overhead cost directly resulted in a comparable change in the amount of underapplied (overapplied) manufacturing overhead.unanswered The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied.unanswered
C15Q5 Need help Using the step-down method, allocate support-department costs. Develop overhead rates per direct manufacturing labor-hour for machining and assembly. Allocate the costs of the support departments in the order given in this problem. Use the allocation base for each support department you think is most appropriate. 2. Using the direct method, rework requirement 1. 3. Based on the following information about two jobs, determine the total overhead costs for each job by using rates developed in (a) requirement 1 and (b) requirement 2. Direct Manufacturing Labor–Hours Machining Assembly Job 88 23 2 Job 89 5 22 4. The company evaluates the performance of the operating department managers on the basis of how well they managed their total costs, including allocated costs. As the manager of the Machining Department, which allocation method would you prefer from the results obtained in requirements…
Vanvalkenburg. Inc., manufactures and sells two products: Product GQ5 and Product JO. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Expected Activity Activity Overhead Activity Cost Pools Measures Cost Product Q5 Product JØ Total Labor-related DLHS $191,748 70,536 295,592 Production orders 3,000 2,800 5,800 orders 300 500 800 Order size MHs 4,300 4,500 8,800 $557,876 The activity rate for the Order Size activity cost pool under activity-based costing is closest to: Multiple Cholce $36.23 per MH $68.48 per MH $96.19 per MH
Match the terms a through d with their correct definition 1 through 4. a. Standard cost card b. Management by exception c. Standard cost d. Ideal standard 1. Quantity of input required if a production process is 100% efficient. 2. Managing by focusing on large differences from standard costs. 3. Record that accumulates standard cost information. 4. Preset cost for delivering a product or service under normal conditions.
Title Brahtz Company uses an activity-based costing system. It has the following manufacturing activity ar Description Brahtz Company uses an activity-based costing system. It has the following manufacturing activity areas, related cost drivers and cost allocation rates:ActivityCost DriverCost Allocation RateMachine setupNumber of setups$25.00Materials handlingNumber of parts0.25MachiningMachine hours13.00AssemblyDirect labor hours22.00InspectionNumber of finished units7.00During the month, 100 units were produced, with no defects, requiring three setups. Each unit consisted of 17 parts, 3 direct labor hours and 2.5 machine hours. Direct materials cost $50 per finished unit.What is the total manufacturing cost for inspections?$-0-$700$90$7
Computing product costs in an ABC system The Alexander Manufacturing Company in Rochester, Minnesota, assembles and tests electronic components used in smartphones. Consider the following data regarding component T24 (amounts are per unit): Requirements Complete the missing items for the two tables. Why might managers favor this ABC system instead of Alexander-’s older system, which allocated all manufacturing overhead costs on the basis of direct labor hours?
good morning, I ask help with this preblem in the photos. I also ask if you can explain me how the COGS and finished good cost are computed? with all the precise steps(please!). thank you very much. ps. this exercise is also on this website, but i still don't get how the Cogs and finished goods cost are computed (from "fundamental of cost accounting" 6th ed., CH.7 problem: 22E).
The question at hand is (b) below. The images attached are to help anmswer (b). Thank you. :) (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer.) check all that apply The predetermined overhead rate changed.unanswered The change in the actual manufacturing overhead cost directly resulted in a comparable change in the amount of underapplied (overapplied) manufacturing overhead.unanswered The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied.
Q6) Manufacturing overhead costs are easy to trace and can be ignored while calculating total costs. Select one: True False
Computing product costs in an ABC system The Alright Manufacturing Company in Rochester, Minnesota, assembles and tests electronic components used in smartphones. Consider the following data regarding component T24 (amounts are per unit): Requirements Complete the missing items for the two tables. Why might managers favor this ABC system instead of Alright’s older system, which allocated all manufacturing overhead costs on the basis of direct labor hours?