Problem 2-20 2-20 The following information was extracted from the accounting records of Roosevelt ManufacturingCompany: we sleubivibni frigio aed quong auool Hos3 sainemos toubongomuanos tol aquongbonio dyd beless beQuool toduaDirect materials purchasedDirect materials usedDirect manufacturing labor costsIndirect manufacturing labor costsSales salariesOther plant expenses 21208 fotSelling and administrative expenses dobadmun art niWhat was the cost of goods manufactured?1. $124,000 to plant man 3. $154,0002. $120,0004. $170,000©2016 DeVry/Becker Educational Development Corp. All Rights Reserved.called Direct material costsConsor Direct manufacturing labor costsManufacturing overhead costsUnits producedloorias-OUROObei 80,000$16$ 48125eritne 76,000 to edmun muminim s10,000 emuano of noizzez112,000 805 ropa ylizzsiExercises2-21 Computing and interpreting manufacturing unit costs. Minnesota Office Products produces threedifferent paper products at its Vaasa lumber plant: Supreme, Deluxe, and Regular. Each product has itsown dedicated production line at the plant. It currently uses the following three-part classification for itsmanufacturing costs: direct materials, direct manufacturing labor, and manufacturing overhead costs. Totalmanufacturing overhead costs of the plant in July 2020 are $150 million ($15 million of which are fixed). Thistotal amount is allocated to each product line on the basis of the direct manufacturing labor costs of eachline. Summary data (in millions) for July 2020 are as follows: 101 tista zuao taxis to 2000 eniloasa Mvobiseid epselim on ritiw allid virtinom timdueDeluxe RegularSupremea$ 89's in its back $ 57 and top-mo$ 60$26$8$78ateoo to no izan13 AS-S$24meteswbiM ls no augmso140noites ensinos bus (opolmoiress consin150ASSIGNMENT0q91 2314,000 b 10 1010022,000 baxil 10 oldehsVd20,000 rubros quoows aved lliw UGYnad malondun at merye Adua lounnA asa anor1. Compute the manufacturing cost per unit for each product produced in July 2020.2. Suppose that, in August 2020, production was 150 million units of Supreme, 190 million units of Deluxe,and 220 million units of Regular. Why might the July 2020 information on manufacturing cost per unit bemisleading when predicting total manufacturing costs in August 2020?nill) espnsrlo bloa ahire-t lo2-22 Direct, indirect, fixed, and variable costs. Florida Growers Association produces both orange andgrapefruit juice that it sells as wholesale products to various grocery suppliers. Each type of juice requiresa three-step process. The first step is the preparation department, which cleans the fruit. The second stepis the squeezing department, which combines some of the necessary sugars and added flavoring to createthe juice. This step also includes quality control using both automated and manual processes. The final stepis packaging, which is an entirely automated process.1. Costs involved in the process are listed next. For each cost, indicate whether it is a direct variable, directfixed, indirect variable, or indirect fixed cost with respect to the cost object "one gallon of grapefruit juice".Costs:Wages of the operator of the packaging machine Cost of the oranges and grapefruit2 Cartons for the juiceCost of the cleansers used to clean the fruit inWages of the fruit cleaners in the first stepWages of the machinist running the squeezing

The product costs are the costs that are directly or indirectly related to the production process.…

EMIST TOOO OT VOITOL ASSIGNME 2-20 The following information was extracted from the accounting records of Roosevelt Manufacturing Company: rigie aed quong moot sen no subot Direct materials purchased Direct materials used 1. $124,000 2. $120,000 71100b Direct manufacturing labor costs Indirect manufacturing labor costs Sales salaries Other plant expenses Selling and administrative expenses Jubnoa, qu adm w Wada What was the cost of goods manufactured? 3. $154,000 4. $170,000 fixed costs, tot 80,000 76,000 10,000 12,000 14,000 10 000 22,000 bsxil 10 oldshev d 20,000 UGY ©2016 DeVry/Becker Educational Development Corp. All Rights Reserved. anisopenehagensmueno) of su307 Exercises shgi/gritega 91admoni tata Joel ton as alles laubiyibni to eingsphi en 010 auool 2-21 Computing and interpreting manufacturing unit costs. Minnesota Office Products produces three different paper products at its Vaasa lumber plant: Supreme, Deluxe, and Regular. Each product has its own dedicated production line at the plant. It currently uses the following three-part classification for its manufacturing costs: direct materials, direct manufacturing labor, and manufacturing overhead costs. Total manufacturing overhead costs of the plant in July 2020 are $150 million ($15 million of which are fixed). This total amount is allocated to each product line on the basis of the direct manufacturing labor costs of each line. Summary data (in millions) for July 2020 are as follows: not fista 03 memye A neitghoadua IsunnA nors 3

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 9E: Financial statements of a manufacturing firm The following events took place for Sorensen...