During March, Mark Company incurred the following costs on Job 209 for the 200 motors: Original cost accumulation: Direct materials Direct labor P 660 800 Factory overhead 1,200 P2,660 Direct costs of reworking 10 units: Direct materials P 100 Direct labor 160 P, 260 Method A- The rework cost were attributable to the exacting specifications of Job 209, and the full rework costs were charged to this specific job. Method B- The defective units fall within the normal range and the rework is not related to a specific job, or the rework is common to all the jobs. 15. The cost per finished unit of Job 209 using Method A is: a. P15.60 b. P15.80 c. P13.30 d. P13.50 16. The cost per finished unit of Job 209 using Method B is: a. P13.30 b. P15.80 c. P15.30 d. P13.60
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- One of the tennis rackets that Ace Sporting Goods manufactures is a titanium model (Slam) that sells for 149. The cost of each Slam consists of: Job 100 produced 100 Slams, of which six were spoiled and classified as seconds. Seconds are sold to discount stores for 50 each. Required: 1. Under the assumption that the loss from spoilage will be distributed to all jobs produced during the current period, use general journal entries to (a) record the costs of production, (b) put spoiled goods into inventory, and (c) record the cash sale of spoiled units. 2. Under the assumption that the loss due to spoilage will be charged to Job 100, use general journal entries to (a) record the costs of production, (b) put spoiled goods into inventory, and (c) record the cash sale of spoiled units.A machine shop manufactures a stainless steel part that is used in an assembled product. Materials charged to a particular jobamounted to 600. At the point of final inspection, it was discoveredthat the material used was inferior to the specifications required bythe engineering department; therefore, all units had to be scrapped. Record the entries required for scrap under each of the following conditions: a. The revenue received for scrap is to be treated as a reductionin manufacturing cost but cannot be identified with a specificjob. The value of stainless steel scrap is stable and estimatedto be 125 for this job. The scrap is sold two months later forcash at the estimated value of 125. b. Revenue received for scrap is to be treated as a reduction inmanufacturing cost but cannot be identified with a specificjob. A firm price is not determinable for the scrap until it issold. It is sold eventually for 75 cash. c. The production job is a special job, and the 85 received onaccount for the scrap is to be treated as a reduction inmanufacturing cost. (A firm price is not determinable for thescrap until it is sold.) d. Only 40 cash was received for the scrap when it was sold inthe following fiscal period. (A firm price is not determinablefor the scrap until it is sold, and the amount to be received forthe scrap is to be treated as other income.)Using the Taguchi quality loss function, an average loss of 20 per unit is calculated. During the year, 25,000 units were produced. Which of the following statements represents the correct application of the Taguchi loss function? a. The hidden costs of internal failure are 500,000. b. The hidden costs of external failure are 500,000. c. The costs of detection activities are 20 per unit inspected. d. The total external costs are 500,000.
- Ingles Company manufactures external hard drives. At the beginning of the period, the following plans for production and costs were revealed: During the year, 24,800 units were produced and sold. The following actual costs were incurred: There were no beginning or ending inventories of direct materials. The direct materials price variance was 10,168 unfavorable. In producing the 24,800 units, a total of 12,772 hours were worked, 3 percent more hours than the standard allowed for the actual output. Overhead costs are applied to production using direct labor hours. Required: 1. Prepare a performance report comparing expected costs to actual costs. 2. Determine the following: a. Direct materials usage variance b. Direct labor rate variance c. Direct labor usage variance d. Fixed overhead spending and volume variances e. Variable overhead spending and efficiency variances 3. Use T-accounts to show the flow of costs through the system. In showing the flow, you do not need to show detailed overhead variances. Show only the over- and underapplied variances for fixed and variable overhead.During the week of June 12, Harrison Manufacturing produced and shipped 15,000 units of its aluminum wheels: 3,000 units of Model A and 12,000 units of Model B. The following costs were incurred: Required: 1. Assume initially that the value-stream costs and total units shipped apply only to one model (a single-product value stream). Calculate the unit cost, and comment on its accuracy. 2. Calculate the unit cost for Models A and B, and comment on its accuracy. Explain the rationale for using units shipped instead of units produced in the calculation. 3. What if Model A is responsible for 40 percent of the materials cost? Show how the unit cost would be adjusted for this condition.Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials 10 Direct labor 8 Applied factory overhead 12 Total 32 Final inspection of Job 403 disclosed 59 defective units and 100 spoiled units. The defective units were reworded at a total cost of P500, and the spoiled units were sold to an employee for P1,500. If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo) Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials 10 Direct labor 8 Applied…
- Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials 10 Direct labor 8 Applied factory overhead 12 Total 32 Final inspection of Job 403 disclosed 59 defective units and 100 spoiled units. The defective units were reworded at a total cost of P500, and the spoiled units were sold to an employee for P1,500. If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo)Martin Company received an order for 25 automatic mixing machines. Because of the order's exacting specifications, it is anticipated that defective and spoiled work will exceed the normal rate. The materials cost per unit is P80; labor cost, P194; and manufacturing overhead for this order is to be applied at 100% of the labor cost. During production, 5 units were found to be defective and required the following total additional costs: materials, P97, labor, P125, and manufacturing overhead at the 100% rate. On final inspection, 2 units were classified as seconds and sold for P400 each, the proceeds being credited to the order. The purchaser has agreed to accept the 23 machines, although the acceptable units are fewer than the number ordered. What is the unit cost of the completed units? (Round-off to the nearest peso) IN A GOOD ACCOUNTING FORM WILL BE GREAT ALSO!Martin Company received an order for 25 automatic mixing machines. Because of the order's exacting specifications, it is anticipated that defective and spoiled work will exceed the normal rate. The materials cost per unit is P80; labor cost, P194; and manufacturing overhead for this order is to be applied at 100% of the labor cost. During production, 5 units were found to be defective and required the following total additional costs: materials, P97, labor, P125, and manufacturing overhead at the 100% rate. On final inspection, 2 units were classified as seconds and sold for P400 each, the proceeds being credited to the order. The purchaser has agreed to accept the 23 machines, although the acceptable units are fewer than the number ordered. What is the unit cost of the completed units? (Round-off to the nearest peso) ANSWER IN GOOD ACCOUNTING FORM. THANK YOU :)
- Martin Company received an order for 25 automatic mixing machines. Because of the order's exacting specifications, it is anticipated that defective and spoiled work will exceed the normal rate. The materials cost per unit is P80; labor cost, P194; and manufacturing overhead for this order is to be applied at 100% of the labor cost. During production, 5 units were found to be defective and required the following total additional costs: materials, P97, labor, P125, and manufacturing overhead at the 100% rate. On final inspection, 2 units were classified as seconds and sold for P400 each, the proceeds being credited to the order. The purchaser has agreed to accept the 23 machines, although the acceptable units are fewer than the number ordered. What is the unit cost of the completed units? (Round-off to the nearest peso)Pharoah Corp. received an order for 25 automatic mixing machines. Because of the order's exacting specifications, it is anticipated that defective and spoiled work will exceed the normal rate. The materials cost per unit is P80; labor cost, P194; and manufacturing overhead for this order is to be applied at 100% of the labor cost. During production, 5 units were found to be defective and required the following total additional costs: materials, P97, labor, P125, and manufacturing overhead at the 100% rate. On final inspection, 2 units were classified as seconds and sold for P400 each, the proceeds being credited to the order. The purchaser has agreed to accept the 23 machines, although the acceptable units are fewer than the number ordered. What is the unit cost of the completed units?Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: DIRECT MATERIALS P10 DIRECT LABOR 8 APPLIED FACTORY OVERHEAD 12 TOTAL P30 Final inspection of Job 403 disclosed 50 defective units and 100 spoiled units. The defective units were reworked at a total cost of P500, and the spoiled units were sold to an employee for P1,500. What would be the unit cost of the good units produced on Job 403? SOLUTION MUST BE IN GOOD ACCOUNTING FORM. EXCEL FORM WILL ALSO BE GOOD!