e activity-based factory overhead per unit f
Q: Compute the actual manufacturing overhead and applied manufacturing overhead
A: Manufacturing overhead can be defined as the cost incurred upon the manufacturing or production of…
Q: Factory overhead includes Oa. direct materials and direct labor Ob. indirect labor and indirect…
A: Factory overhead is the total of indirect expenses incurred during the period of time. Indirect…
Q: The three major cost components of manufacturing a product are a. Direct materials, direct labor,…
A: Definition: Manufacturing cost: The cost incurred in the production process of the finished product…
Q: T, F. Prime cost consists of Direct Materials and Factory Overhead.
A: Prime cost is a combination of direct attributes i.e primarily incurred for the product.
Q: Distinguish between (a) factory overhead and (b) selling and administrative overhead.
A: Factory overhead:
Q: Indirect materials and indirect labour are classified as: O a. manufacturing overhead and product…
A: Costs that are not traced to the product directly are known as indirect costs. These costs are…
Q: 1. Indirect labor and indirect materials are classified as O manufacturing overhead and product…
A: Indirect Material: Material which don't become integral part of Product produced is known as…
Q: Conversion costs consist of: O a direct labor and manufacturing overhead O b. direct and indirect…
A: Prime costs consists of direct material and direct labor, While conversion costs consist of direct…
Q: Why factory overhead is computed based on direct labor?
A: Refer Step 2 for explanation
Q: Under an activity based costing system, what is the per-unit overhead cost of Z
A: Activity based costing is a management accounting technique which used to allocate overhead cost and…
Q: total manufacturing cost assigned to Job
A: Rate of fixed manufacturing overhead per machine-hour = Estimated total fixed manufacturing…
Q: amount of overheads allocated to product Apex
A: Estimated annual overhead cost for set up (A) RO 440,000 Number of set ups (B) 4,000 Overhead…
Q: to underapplied manufacturing overhead ds Soldu
A: Underapplied manufacturing overheads will be closed out by either debiting Cost of Goods Sold or by…
Q: Direct material Direct labor Overhead Total
A: The overheads are applied to production on the basis of predetermined overhead rate. As per…
Q: Using Traditional Method of costing using direct labor hours as basis of applying overhead, what is…
A: Using traditional method of costing, cost of product = Prime cost + overhead cost allocated on the…
Q: Product costs include direct labor and manufacturing overhead only. direct materials, direct labor,…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: manufacturing overhead handled in a process cost system
A: Indirect cost is the cost that is not directly involved in the production process of the company.
Q: Prime costs include: direct labor and indirect labor direct materials and direct labor direct labor…
A: The cost of a product can be categorised in different categories like direct costs, indirect costs,…
Q: When actual manufacturing overhead costs are incurred in a process cost system, they are debited to…
A: Applied manufacturing overhead cost is debited Work in process Account. Actual manufacturing…
Q: how do i calculate allocated manufacturing overhead by department
A: Manufacturing overhead: The cost incurred in production process other than the cost of direct…
Q: Total manufacturing cost includes: Select one: O a. direct labour and manufacturing overhead in both…
A: Answer - Correct Option is Option B - Direct Material, Direct Labour and Manufacturing Overhead in…
Q: Record the application of manufacturing overhead to production. 1
A: 1) Overhead rate = $182,400/19000 = 9.60 per labor hour Journal entry Transaction General Journal…
Q: Prime cost consists of: direct labor and manufacturing overhead. direct materials and manufacturing…
A: Total manufacturing costs = Prime cost + manufacturing overhead Where, Prime cost = Direct material…
Q: Define the term manufacturing overheads.
A: Manufacturing overhead is all indirect costs incurred during the production process. This overhead…
Q: Job order costing and process costing both: a. All the given answers are correct. b. both allocate…
A: Job cost accounting accumulates prices by individual jobs. Method cost accounting accumulates prices…
Q: how to allocate manufacturing overhead by department?
A: Manufacturing overhead costs: The costs, which do not relate openly with the manufacturing of…
Q: and factory overhead. Make the following calculations: a. Equivalent units for direct materials b.…
A:
Q: The plant manager's salary * Product Cost O Period Cost
A: The costs incurred in production can be classified as period cost or product cost.
Q: Compute the Manufacturing Overhead Applied to Jobs;
A: Overhead cost allocation: It is the process of allocating the estimated overhead of a company to its…
Q: true (T) or false (F) Costs per job are computed in both job order and process costing systems.
A: Job order costing: Job order cost system provides a separate record of each particular quantity of…
Q: ick the icon to view the information.) he requirements rement 1. Compute the actual and budge…
A: In the given question overhead rate is calculated on the basis of direct Labor cost. Therefore…
Q: fit - Expenses = aterials Direct Labor = Manufacturing Costs = Cost of Goods Manufactured : WTD
A: As per rule, allowed to answer one question at a time and post the remaining in the next submission.
Q: Describe the types of manufacturing overhead.
A: Manufacturing Expenses or Overhead are the indirect type of costs that a business incurs for a…
Q: KB. Which are the three product costs that are added to work in process? O Direct materials, direct…
A: In this question, we have been asked three costs to be used in work in process, for which we have…
Q: Job order costing and process costing both: O a. All the given answers are correct. O b. assign…
A: Job Order Costing:-It tracks prime cost to assign direct material and direct labor cost to the…
Q: Manufacturing overhead consists of all a.costs other than direct materials and direct labor.…
A: Manufacturing overhead refers to the collection of indirect expenses incurred by the entity for…
Q: Compute the actual manufacturing overhead. Compute the applied manufacturing overhead. Compute the…
A: Solution:- Calculation of the actual manufacturing overheads.
Q: Define the following: (a) direct materials, (b) indirect materials, (c) direct labor, (d) indirect…
A: Cost: Cost can be defined as the cash and cash equivalent which is incurred against the products…
Q: Factory overhead
A: Factory overhead means all expenses incurred for production of goods.
Q: Manufacturing Overhead: Total payments for manufacturing overhead Selling and Administrative…
A: Part 1:
Q: The three major cost components of manufacturing a product are,
A: Answer:(a) Manufacturing cost is the sum of costs of all used or consumed in the process of making a…
Q: As production occurs, materials, direct labor, and applied manufacturing overhead are recorded in…
A: 1. Material: It Consists of Direct Material only. 2. Cost of goods sold: it is figured out by adding…
Q: Prime cost is:
A: Prime cost is the direct cost incurred in the process of manufacturing a product and typically…
Q: 1. Overhead is most often applied to production on the basis ofa. direct labor hours.b. machine…
A: The question is multiple choice question. Required Choose the Correct Option.
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- Larsen, Inc., produces two types of electronic parts and has provided the following data: PartX12 PartYK7 Total Units produced 100,000 600,000 - Direct labour hours 30,000 70,000 100,000 Machine hours 50,000 300,000 350,000 Number of setups 40 80 120 Testing hours 1,000 9,000 10,000 Number of purchase orders 500 3,500 4,000 There are four activities: machining, setting up, testing, and purchasing. Required: Calculate the activity consumption ratios for each product. Calculate the consumption ratios for the plantwide rate (direct labour hours). When comparedwith the activity ratios, what can you say about the relative accuracy of a plantwiderate? Which product is undercosted? What if the machine hours were used for the plantwide rate? Would this remove the cost distortionof a plantwide rate?Kukrudu Co. Ltd produces three modules of a product namely Hwentsia (H), Prekese (P) andKakaduro (K).The following data related to the products for the period.H K P TotalGH¢‘000 GH¢‘000 GH¢‘000 GH¢‘000Direct Material 150 240 200 590Direct Labour Cost 14.4 24 54 92.4OverheadsMachine settings 26Overhead Processing 64Warehouse Cost 93Energy to run machine 42Shipping 36A consultant, Mr. P. S. Initiative recommended the following after a detailed study of the company’s production process.ACTIVITY COST DRIVER ACTIVITY LEVELH K Pa. Machine setup No. of Production runs 22 34 44b. Sales order processing No. of sales received 400 600 600c. Warehouse cost No of units held in inventory 200 200 400d. Energy Machine Hours 10,000 16,000 24,000e. Shipping No. of Units shipped 1000 4000 10,000It is the policy of the Kukrudu Co. Ltd. to make a profit margin of 25% on its products.Required:Calculate the selling price of each of the three (3) products(all calculations should be to the nearest Ghana cedi).Trinity product Limited makes and sells three types of electronic security systems for which the following information is available Standard cost and selling price per unitDay Scan Night scanOmni scanGH¢GH¢GH¢Material70110155Manufacturing labour405570Installation labour243244Variable overheads162028Selling price250320460 Fixed cost for the period are GH¢450,000 and installation labour, which is highly skilled is available for 25,000 hours only in a period and is paid GH¢8 per hour. Both manufacturing and installation labour are variable cost. The maximum demand for the period is: Day scan 2,000 units; Night scan 3,000 units; Omni scan 1,800 units.Requiredd) Having carried out an investigation of the availability of installation labour, the firm thinks that by offering GHS 12 per hour, additional installation would become available and thus overcome the labour shortage. Based on the result obtained above, you are required to advice the firm whether or not to implement this proposal.
- Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 2.00 ounces $ 30.00 per ounce $ 60.00 Direct labor 0.50 hours $ 14.00 per hour 7.00 Variable manufacturing overhead 0.50 hours $ 3.40 per hour 1.70 Total standard cost per unit $ 68.70 During November, the following activity was recorded related to the production of Fludex: Materials purchased, 10,000 ounces at a cost of $287,000. There was no beginning inventory of materials; however, at the end of the month, 3,000 ounces of material remained in ending inventory. The company employs 20 lab technicians to work on the production of Fludex. During November, they each worked an average of 130 hours at an average pay rate of $12.00 per hour.…Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 2.00 ounces $ 30.00 per ounce $ 60.00 Direct labor 0.50 hours $ 14.00 per hour 7.00 Variable manufacturing overhead 0.50 hours $ 3.40 per hour 1.70 Total standard cost per unit $ 68.70 During November, the following activity was recorded related to the production of Fludex: Materials purchased, 10,000 ounces at a cost of $287,000. There was no beginning inventory of materials; however, at the end of the month, 3,000 ounces of material remained in ending inventory. The company employs 20 lab technicians to work on the production of Fludex. During November, they each worked an average of 130 hours at an average pay rate of $12.00 per hour.…A division of Ditton Industries manufactures the Futura model microwave. The daily cost (in dollars) of producing these microwaves is C(x)=0.0004x3-0.06x2+120x+5500, where x stands for the number of units produced. Round the answers to the nearest cent.
- Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 2.30 ounces $ 26.00 per ounce $ 59.80 Direct labor 0.50 hours $ 14.00 per hour 7.00 Variable manufacturing overhead 0.50 hours $ 3.40 per hour 1.70 Total standard cost per unit $ 68.50 During November, the following activity was recorded related to the production of Fludex: Materials purchased, 12,500 ounces at a cost of $305,625. There was no beginning inventory of materials; however, at the end of the month, 2,800 ounces of material remained in ending inventory. The company employs 21 lab technicians to work on the production of Fludex. During November, they each worked an average of 150 hours at an average pay rate of $12.00 per hour.…Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 2.00 ounces $ 21.00 per ounce $ 42.00 Direct labor 0.90 hours $ 12.00 per hour 10.80 Variable manufacturing overhead 0.90 hours $ 2.00 per hour 1.80 Total standard cost per unit $ 54.60 During November, the following activity was recorded related to the production of Fludex: Materials purchased, 10,000 ounces at a cost of $197,000. There was no beginning inventory of materials; however, at the end of the month, 2,550 ounces of material remained in ending inventory. The company employs 24 lab technicians to work on the production of Fludex. During November, they each worked an average of 170 hours at an average pay rate of $11.50 per hour. Variable manufacturing overhead is…Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantityor Hours Standard Priceor Rate Standard Cost Direct materials 2.30 ounces $ 24.00 per ounce $ 55.20 Direct labor 0.80 hours $ 15.00 per hour 12.00 Variable manufacturing overhead 0.80 hours $ 3.50 per hour 2.80 Total standard cost per unit $ 70.00 During November, the following activity was recorded related to the production of Fludex: Materials purchased, 12,500 ounces at a cost of $282,500. There was no beginning inventory of materials; however, at the end of the month, 3,000 ounces of material remained in ending inventory. The company employs 26 lab technicians to work on the production of Fludex. During November, they each worked an average of 150 hours at an average pay rate of $14.00 per…
- Ellix Company manufactures two models of ultra-high fidelity speakers—the X200 model and the X99 model. Data regarding the two products follow: Product Direct Labor-Hours Annual Production Total Direct Labor-Hours X200 0.4 DLHs per unit 17,000 units 6,800 DLHs X99 0.6 DLH per unit 40,000 units 24,000 DLHs 30,800 DLHs Additional information about the company follows: Model X200 requires $35 in direct materials per unit, and model X99 requires $24. The direct labor workers are paid $20 per hour. The company has always used direct labor-hours as the allocation base for applying manufacturing overhead cost to products. Model X200 is more complex to manufacture than model X99 and requires special equipment. Because of the special work required in (d) above, the company is considering an activity-based absorption costing that applies manufacturing overhead cost to products using three activity cost pools: Activity Cost Pool Activity Measure Estimated Total Cost…Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 61,600 to 100,800 memory chips per year. Within this range, the following partially completed manufacturing cost schedule has been prepared: Components produced 61,600 79,200 100,800 Total costs: Total variable costs . . . . . . . . . $19,712 (d) (j) Total fixed costs . . . . . . . . . . . . 22,176 (e) (k) Total costs . . . . . . . . . . . . . . . . . $41,888 (f) (l) Cost per unit: Variable cost per unit . . . . . . . (a) (g) (m) Fixed cost per unit . . . . . . . . . . (b) (h) (n) Total cost per unit . . . . . . . . . . (c) (i) (o) Complete the cost schedule below. When computing the cost per unit, round to two decimal places. Round all other values to the nearest dollar.Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantityor Hours Standard Priceor Rate Standard Cost Direct materials 2.40 ounces $ 21.00 per ounce $ 50.40 Direct labor 0.80 hours $ 15.00 per hour 12.00 Variable manufacturing overhead 0.80 hours $ 3.50 per hour 2.80 Total standard cost per unit $ 65.20 During November, the following activity was recorded related to the production of Fludex: Materials purchased, 13,500 ounces at a cost of $266,625. There was no beginning inventory of materials; however, at the end of the month, 4,200 ounces of material remained in ending inventory. The company employs 24 lab technicians to work on the production of Fludex. During November, they each worked an average of 140 hours at an average pay rate of $14.50 per…