Lenox Solvents manufactures a special fluid at its Hazelridge plant. Operating data for June follow.MaterialsLaborManufacturing overhead$ 2,499,000214,200859,800The Hazelridge plant produced 1,110,000 liters in June. The plant never has any beginning or ending inventories.Required:Compute the cost per liter of liquid produced in June.Note: Round your answer to 2 decimal places.Cost per liter

3.22Explanation:Step 1: First is to get the total manufacturing cost by getting the total of…

Answered: Lenox Solvents manufactures a special…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter3: Cost Behavior

Section: Chapter Questions

Problem 10E: SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that...

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Lenox Solvents manufactures a special fluid at its Hazelridge plant. Operating data for June follow. Materials$ 2,499,000Labor214,200Manufacturing overhead857,800 The Hazelridge plant produced 1,070,000 liters in June. The plant never has any beginning or ending inventories. Required: Compute the cost per liter of liquid produced in June. Note: Round your answer to 2 decimal places.
Enviro Corporation manufactures a special liquid cleaner at its Green plant. Operating data for June follow: Materials $ 484,000 Labor 47,000 Manufacturing overhead 234,000 The Green plant produced 1,700,000 gallons in June. The plant never has any beginning or ending inventories. Required: Compute the cost per gallon of liquid cleaner produced in June. (Round your answer to 2 decimal places.)
Enviro Corporation manufactures a special liquid cleaner at its Green plant. Operating data for June follow: Materials $ 353,000 Labor 41,000 Manufacturing overhead 230,000 The Green plant produced 1,600,000 gallons in June. The plant never has any beginning or ending inventories. Required: Compute the cost per gallon of liquid cleaner produced in June. (Round your answer to 2 decimal places.) Cost per Gallon
Lenox Solvents manufactures a special fluid at its Hazelridge plant. Operating data for June follow. Materials $ 2,499,000 Labor 214,200 Manufacturing overhead 865,300 The Hazelridge plant produced 1,220,000 liters in June. The plant never has any beginning or ending inventories. Required: Compute the cost per liter of liquid produced in June.
The following information applies to questions 11 and 12 Hyjuk Limited manufactures scuba tanks. The following information was obtained for the six months ending December 2020: Month Scuba tanks sold Production overheads ($ thousands) July 130 38.8 August 190 53.6 September 120 38.5 October 150 40.8 November 100 32.9 December 160 48 Use the high-low method to answer questions: a. Estimate the variable production overhead cost per scuba tank. b. Estimate the fixed production overhead cost.
Washington Accounting, Inc. has the following information on the company's utility cost for the first four months of the year. Month Utility cost $25,600 January February $24,000 March $42,000 April $40,000 Using the high-low method, the total utility cost estimate when the company uses 1.200 machine hours is: None of these $30,000. O $31,200. O $34,400. O $34,200. Machine Hours 800 750 1,650 1,750
Zippy Inc. manufactures a fuel additive, Surge, which has a stable selling price of 44 per drum. The company has been producing and selling 80,000 drums per month. In connection with your examination of Zippys financial statements for the year ended September 30, management has asked you to review some computations made by Zippys cost accountant. Your working papers disclose the following about the companys operations: Standard costs per drum of product manufactured: Materials: Costs and expenses during September: Chemicals: 645,000 gallons purchased at a cost of 1,140,000; 600,000 gallons used. Empty drums: 94,000 purchased at a cost of 94,000; 80,000 drums used. Direct labor: 81,000 hours worked at a cost of 816,480. Factory overhead: 768,000. Required: Calculate the following for September, using the formulas on pages 421422 and 424 (Round unit costs to the nearest whole cent and compute the materials variances for both Surge and for the drums.): 1. Materials quantity variance. 2. Materials purchase price variance. 3. Labor efficiency variance. 4. Labor rate variance.
SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its total annual overhead costs can be represented by the following formula: Overhead cost = 543,000 + 1.34X, where X equals number of smokers. Last year, SmokeCity produced 20,000 smokers. Actual overhead costs for the year were as expected. Required: 1. What is the driver for the overhead activity? 2. What is the total overhead cost incurred by SmokeCity last year? 3. What is the total fixed overhead cost incurred by SmokeCity last year? 4. What is the total variable overhead cost incurred by SmokeCity last year? 5. What is the overhead cost per unit produced? 6. What is the fixed overhead cost per unit? 7. What is the variable overhead cost per unit? 8. Recalculate Requirements 5, 6, and 7 for the following levels of production: (a) 19,500 units and (b) 21,600 units. (Round your answers to the nearest cent.) Explain this outcome.
Sunland Co. gathered the following information on power costs and factory machine usage for the last six months: Month January February March April May June (a) Power Cost $28,390 (b) 36,069 32,895 26,235 (c) 23,890 20,700 Your answer is correct. Variable power costs $ Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. eTextbook and Media Your answer is correct. Factory Machine Hours What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Fixed power costs $ eTextbook and Media 15,800 21,400 Total power cost $ 18,700 High 15,100 13,500 What is the estimated fixed power cost each month? 10,500 1.41 5,895 per factory machine hour Low 5,895 If it is estimated that 13,800 factory machine hours will be run in July, what is the expected total power cost for July?
Enviro Corporation manufactures a special liquid cleaner at its Green Plant. Operating data for June follow: Material $714,000 Labor 61,200 Manufacturing Overhead 244,800 The green plant produced 850,000 gallons in June. The plant never has any beginning or ending inventories. Compute the cost per gallon of liquid cleaner produced in June.
Strait Co. manufactures office furniture. During the most productive month of the year, 3,100 desks were manufactured at a total cost of $84,200. In the month of lowest production, the company made 1,230 desks at a cost of $57,800. Using the high-low method of cost estimation, total fixed costs are Round your intermediate calculations to two decimal places. Oa. $57,800 Ob. $40,428 Oc. $26,400 Od. $84,200 C G
Copland Components manufactures an electronic device for vehicle manufacturing. The current standard cost sheet for a device follows: Direct materials, ? ounces at $2.80 per ounce Direct labor, 0.4 hours at ? per hour Overhead, 0.4 hours at ? per hour Total costs $ per device ? per device per device $ 30 per device Assume that the following data appeared in Copland's records at the end of the past month: Actual production Actual sales Materials costs (505,000 ounces) Materials price variance Materials efficiency variance Direct labor price variance Direct labor (37,500 hours) Overapplied overhead (total) There are no materials Inventories. Required: 96,000 units 90,000 units $ ? 63,000 U 70,000 U 18,750 F 918,750 25,200 a. Prepare a variance analysis for direct materials and direct labor. b. Assume that all production overhead is fixed and that the $25,200 overapplied is the only overhead varlance that can be computed. What are the actual and applied overhead amounts? c. Complete the…

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