High-Low Method The manufacturing costs of Rosenthal Industries for the first three months of the year follow: Total Costs Units Produced January $1,890,000 22,500 units February 2,800,000 35,000 March 4,230,000 55,000 Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost. a. Variable cost per unit b. Total fixed cost
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- Please show your computations using good accounting form through excel. Thank you! Problem: By products In Department III of SAMCIS Company, a portion of the materials (a by-product) is removed further processed and sold. The Company uses the reversal cost method to account for the by-product. Data for June include: Amount of by-product removed is 2,000 units; Estimated sales price of by-product after processing further is P1.20/unit. Estimated processing cost after separation is P0.30 per unit and estimated selling expenses is 10% of the sales price. The estimated profit margin is 5% of the sales price. What is the gain (loss) on sale of the by-product if all of the units are sold at P1.50?All applicable Mini-Exercises are available with McGraw-Hill’s Connect™Accounting. Total manufacturing costs Acme, Inc., incurs the following costs during May: accounting Mini-Exercise 13.1LO 3, 4 Sales expense. . . . . . . . . . . . . . . . $11,500Direct labor . . . . . . . . . . . . . . . . . . 26,000Factory supplies . . . . . . . . . . . . . . 2,500Advertising . . . . . . . . . . . . . . . . . . 2,800Raw material used . . . . . . . . . . . . 18,000Administrative expense . . . . . . . $ 21,500Plant depreciation . . . . . . . . . . . 6,200Indirect labor. . . . . . . . . . . . . . . 8,000Utilities . . . . . . . . . . . . . . . . . . . . 10,000 **75% of this amount relates to the factory.Required:Calculate Acme’s total manufacturing costs for May.Please show your computations using good accounting form through excel. Thank you! Problem: Joint Cost In Department III of SAMCIS Company, a portion of the materials (a by-product) is removed further processed and sold. The Company uses the reversal cost method to account for the by-product. Data for June include: Amount of by-product removed is 2,000 units; Estimated sales price of by-product after processing further is P1.20/unit. Estimated processing cost after separation is P0.30 per unit; and estimated selling expenses is 10% of the sales price. The estimated profit margin is 5% of the sales price. What is the total cost of the by-product?
- Q1Moona Inc. produces Mobile phones. Information of the company's operations last year appear below: Fixed cost: Fixed Manufacturing overhead Rs 40,000Fixed Selling & Administrative Rs 60,000Selling Price per unit Rs 100Variable cost per unit: Direct Materials Rs 30 Direct labor Rs 10Variable Manufacturing overhead Rs 5Variable Selling & Administrative Rs 2Units In beginning Inventory 0 Units Produced 2000Units Sold 1900 Required: a. Compute the unit product cost under both absorption and variable costing.b. Prepare an income statement for the year using absorption costing.c. Prepare a contribution format income statement for the year using variable costing. d. Prepare a report reconciling the difference in net operating income between absorption and variable costing for the year.The Information bellow has taken from Al Wafa company wages paid to labour: OMR85,000, Purchases raw material OMR 230000, purchases return: OMR5,000, factory on cost 10% of prime cost.Opening stock work in progress OMR54000, closing stock work in progress OMR 45000, opening stock raw material OMR50000 and closing stock raw material OMR32000.The cost of good manufactured is: a. OMR364200 b. None of the options c. OMR369800 d. OMR332200Subject: Cost management & accounting Q.1Direct Material = Rs. 50,000Direct Labour = 75,000Rent (Factory) = 5,000Fuel & Power = 2,000Rent (Office) = 3,000Utility (Factory) = 3,000Utility (Office) = 1,500Factory Supervisor Salary = 5,000Depreciation( Machines = 2,000Indirect Material = 10,000Indirect Labour = 5,000Compute: i) Prime Cost ii) Factory Over Head iii) Factory Cost iv) Conversion Cost
- The manufacturing operations of Cullumber, Inc. had the followInventoriesRaw MaterialsWork in ProcessFinished GoodsJanuary 1Cost of goods sold$15.36026,88017,920GA$January 31Cullumber transferred $371,200 of completed goods out of WoCompute the cost of goods sold.Tavthook and Media$16.64029,44020,480 Please don't provide solutions in an image format thank youchoose the best answer (mcqs) just choose the no need of any explanation: 1) The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units 0 Units produced 4,800 Units sold 4,000 Sales $ 400,000 Materials cost $ 96,000 Variable conversion cost used $ 48,000 Fixed manufacturing cost $ 72,000 Indirect operating costs (fixed) $ 80,000 The variable costing operating income is: A $120,000 B $104,000 C $140,000 D $128,000 2) Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 30,000 Total fixed manufacturing overhead cost $ 252,000 Variable manufacturing overhead per machine-hour $ 2.10 Recently, Job T687 was completed with the…1.Item Fixed/VarType Dir/IndLeather used for the bicycle seatsProduction manager’s salaryLife insurance for the company presidentElectricity used in the production facilitiesSales commissionsInternet advertisingEmployee benefits for the production workersProperty taxes on the production facilitiesShipping costsSalary of the chief financial officer*Type = S= Selling, M= Manufacturing, A= Administrative2. Unit costs for variable manufacturing expenses based on Nov (October) amounts:Leather used in seats: ________________________ = $____/bikeElectricity: ___________________________________= $___/bikeEmployee benefits____________________________ = $____/bikeDecember manufacturing costs:ItemPer unitAmount Activity CostLeather in seatsElectricity - variableEmployee benefitsProduction manager’s salary n/aElectricity - fixed n/aProperty taxes n Solve question 2
- The 20X6 data that follow pertain to Rays, a manufacturer of swimming goggles. Rays had no beginning inventories in January 20X6. Selling price per unit $35.00Variable manufacturing expense per unit $15.00Sales commission expense per unit $5.00Fixed manufacturing overhead $2,000,000Fixed operating expense $250,000# of goggles produced 200,000# of goggles sold 185,000 Required:a) Calculate the following for Raysi) The total cost per unitii) The value of ending inventories using marginal costingiii) The value of ending inventories using total costing b) Prepare a variable costing (contribution margin) income statement for Rays for the year ended December 31, 20X6. c) Rays marketing vice president believes a new sales promotion that costs $150,000would increase sales to 200,000 goggles. Should the company go ahead with the promotion? Give your reason.Subject: Cost Management & Accounting QUESTION – 5From the following data, Prepare Cost of Good Sold StatementMaterial consumed = Rs. 150,000 [ 20 % Indirect]Labour incurred = 200,000 [ 75 % Direct ]Rent = 35,000 [ 20 % Office ]Fuel & Power = 45,000 [ 100% Factory ]Utilities Expense = 10,000 [ 35 % Factory ]Supervisor Salaries = 30,000 [ 60 % Factory ]Depreciation = 45,000[ 10 % Furniture, 15% Office Building, 25% Factory Building & Remaining for Factory Machines]Inventories Opening ClosingRaw material Rs. 45,000 80% of OpeningW-I-Process 75% of Closing 80,000Finished Goods 90,000 20% of Cost of Goods ManufacturedThe Information bellow has taken from Al Rshad company Wages paid to labour: OMR. 70,000 Purchases raw material OMR 210000 Purchase Return: OMR10000 Factory on cost - 10% of prime cost opening stock raw material OMR25000 closing stock work in process OMR10000 The cost of good manufactured is