Mixing Company manufactured 2,200 units of its only product during 2022. The inputs for this production are as follows: 520 pounds of Material A at a cost of $2.20 per pound 370 pounds of Material H at a cost of $3.45 per pound 580 direct labor hours at $48 per hour The firm manufactured 2,268 units of the same product in 2021 with the following inputs: 540 pounds of Material A at a cost of $1.40 per pound 400 pounds of Material H at a cost of $2.70 per pound 450 direct labor hours at $18 per hour In 2021, the partial financial productivity of direct labor is: Multiple Choice 0.28. 5.04. 4.48. 0.25. 5.60.

Mixing Company manufactured 2,200 units of its only product during 2022. The inputs for this production are as follows: 520 pounds of Material A at a cost of $2.20 per pound 370 pounds of Material H at a cost of $3.45 per pound 580 direct labor hours at $48 per hour The firm manufactured 2,268 units of the same product in 2021 with the following inputs: 540 pounds of Material A at a cost of $1.40 per pound 400 pounds of Material H at a cost of $2.70 per pound 450 direct labor hours at $18 per hour In 2021, the partial financial productivity of direct labor is: Multiple Choice 0.28. 5.04. 4.48. 0.25. 5.60.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter16: Job Order Costing

Section: Chapter Questions

Problem 4CMA: Patterson Corporation expects to incur 70,000 of factory overhead and 60,000 of general and...

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Patterson Corporation expects to incur 70,000 of factory overhead and 60,000 of general and administrative costs next year. Direct labor costs at 5 per hour are expected to total 50,000. If factory overhead is to be applied per direct labor hour, how much overhead will be applied to a job incurring 20 hours of direct labor? a. 120 b. 260 c. 28 d. 140
Q25 Mixing Company manufactured 1,098 units of its only product during 2022. The inputs for this production are as follows: 610 pounds of Material A at a cost of $1.50 per pound 460 pounds of Material H at a cost of $3.55 per pound 620 direct labor hours at $52 per hour The firm manufactured 3,000 units of the same product in 2021 with the following inputs: 660 pounds of Material A at a cost of $2.00 per pound 520 pounds of Material H at a cost of $3.30 per pound 560 direct labor hours at $50 per hour In 2022, the partial financial productivity of Material A is: Multiple Choice 1.20. 1.10. 0.44. 1.15. 0.97.
Q42 Mixing Company manufactured 2,709 units of its only product during 2022. The inputs for this production are as follows: 515 pounds of Material A at a cost of $2.15 per pound 430 pounds of Material H at a cost of $3.40 per pound 560 direct labor hours at $46 per hour The firm manufactured 2,775 units of the same product in 2021 with the following inputs: 630 pounds of Material A at a cost of $1.85 per pound 490 pounds of Material H at a cost of $3.15 per pound 530 direct labor hours at $44 per hour In 2022, the partial operational productivity of Material H is: Multiple Choice 6.25 units per pound. 6.30 units per pound. 5.26 units per pound. 2.29 units per pound. 6.20 units per pound.
Mixing Company manufactured 1,716 units of its only product during 2022. The inputs for this production are as follows: 520 pounds of Material A at a cost of $1.50 per pound 325 pounds of Material H at a cost of $2.75 per pound 580 direct labor hours at $48 per hour The firm manufactured 2,850 units of the same product in 2021 with the following inputs: 640 pounds of Material A at a cost of $1.90 per pound 500 pounds of Material H at a cost of $3.20 per pound 540 direct labor hours at $46 per hour In 2022, the partial financial productivity of Material H is:
Mixing Company manufactured 2,640 units of its only product during 2022. The inputs for this production are as follows: 550 pounds of Material A at a cost of $1.50 per pound 500 pounds of Material H at a cost of $2.75 per pound 700 direct labor hours at $60 per hour The firm manufactured 3,300 units of the same product in 2021 with the following inputs: 700 pounds of Material A at a cost of $2.20 per pound 560 pounds of Material H at a cost of $3.50 per pound 600 direct labor hours at $58 per hour In 2022, the partial financial productivity of Material H is: Multiple Choice 0.21. 0.58. 1.92. 3.51. 5.27.
Mixing Company manufactured 1,900 units of its only product during 2022. The inputs for this production are as follows: 490 pounds of Material A at a cost of $1.90 per pound 340 pounds of Material H at a cost of $3.15 per pound 460 direct labor hours at $36 per hour The firm manufactured 2,259 units of the same product in 2021 with the following inputs: 580 pounds of Material A at a cost of $1.60 per pound 450 pounds of Material H at a cost of $2.90 per pound 480 direct labor hours at $34 per hour The partial operational productivity of Material H in 2021 is:
Overtime produces and sells a mantel clock for $200 per unit. In 2020, 41,000 clocks were produced and 37,000 were sold. Other information for the year includes: Direct materials $42.00 per unit Direct manufacturing labor $8.00 per unit Variable manufacturing costs $5.00 per unit Sales commissions $14.50 per unit Fixed manufacturing costs $64.00 per unit Administrative expenses, all fixed $38.50 per unit What is the inventoriable cost per unit using absorption costing and variable costing? a. $119.00, $55.00 b. $117.00, $53.00 c. $49.00, $51.00 d. $53.00, $42.00
C & W Corporation manufactures and sells a single product. Its budgeted production stands at 50 000 units. The following costs were incurred during 2022, the company’s first year of operations. Variable cost per unit Production Direct materials $36 Direct labour 14 Variable manufacturing overhead 4 Fixed Costs Per Year Manufacturing overhead $300 000 Selling and administrative $220 000 During 2022, the company produced 40 000 units and sold 32,000 units. The selling price of the company’s product is $100 per unit Required: c. Assume that the company uses the Marginal costing method: i. Compute the cost of producing one unit of product. ii. Prepare an income statement for 2022. d. Reconcile the profits.
Toraxia Inc. manufacturers a product that is packaged and sold in 10-kilogram bags. For 2023, the company developed the following standard costs per bag for direct materials and direct labour: Direct materials (10 kilograms @ $6.00 per kilogram) Direct labour (0.2 hours @ $28 per hour)Total standard cost per 10-kg bag Cost per Bag $60.00 5.60 ($65.60) In January, the company manufactured 3,500 bags. The company purchased 38,200 kilograms of materials costing $232,256 and used 36,500 kilograms. As well, the company paid $19,440 for direct labour and used 720 direct labour hours. Required: (A) Compute the materials price variance and materials usage variance and indicate whether each variance is favourable or unfavourable. (B) Compute the labour rate variance and labour efficiency variance and indicate whether each variance is favourable or unfavourable. (C) Provide possible reasons for each of the variances computed in (A) and (B). For example, regarding the materials price…
Greek Manufacturing Company produces and sells a line of product that are sold usually all year round. Thecompany has a maximum production capacity of 100,000 units per year. Operating at normal capacity, thebusiness earned Operating Income of $600,000 in 2020. The following cost data has been prepared for theyear ended December 31, 2020 Selling price per unit……………………………………… $50.00Production Costs:Direct Materials …………………………………. $10.00Direct Labour ……………………………………. $8.00Variable Manufacturing Overhead ……………. $7.00Fixed Manufacturing Overhead…………....................... $450,000Fixed Selling & Administrative Expenses……………… $300,000Variable selling expense per unit ………………………. $10.00 Required: d) Assuming sales equal to the normal capacity calculated in a) above, prepare a contribution marginincome statement for the year ended December 31, 2020, detailing the components of total variablecosts and total fixed costs, and clearly showing contribution and net income. e) The recession…
Greek Manufacturing Company produces and sells a line of product that are sold usually all year round. Thecompany has a maximum production capacity of 100,000 units per year. Operating at normal capacity, thebusiness earned Operating Income of $600,000 in 2020. The following cost data has been prepared for theyear ended December 31, 2020. Selling price per unit……………………………………… $50.00Production Costs:Direct Materials …………………………………. $10.00Direct Labour ……………………………………. $8.00Variable Manufacturing Overhead ……………. $7.00Fixed Manufacturing Overhead…………....................... $450,000Fixed Selling & Administrative Expenses……………… $300,000Variable selling expense per unit ………………………. $10.00 Show ALL supporting workings where necessary and state any assumption(s) made. Required: a) Using the equation method, calculate the normal capacity of the business. b) Calculate: i) the variable production cost per unit ii) the total production cost per unit iii) The total variable cost per unit iv) Total…
Greek Manufacturing Company produces and sells a line of product that are sold usually all year round. Thecompany has a maximum production capacity of 100,000 units per year. Operating at normal capacity, thebusiness earned Operating Income of $600,000 in 2020. The following cost data has been prepared for theyear ended December 31, 2020.Selling price per unit……………………………………… $50.00Production Costs:Direct Materials …………………………………. $10.00Direct Labour ……………………………………. $8.00Variable Manufacturing Overhead ……………. $7.00Fixed Manufacturing Overhead…………....................... $450,000Fixed Selling & Administrative Expenses……………… $300,000Variable selling expense per unit ………………………. $10.00Required:a) Using the equation method, calculate the normal capacity of the business. d) Assuming sales equal to the normal capacity calculated in a) above, prepare a contribution marginincome statement for the year ended December 31, 2020, detailing the components of total variablecosts and total fixed…