XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory manager's salary 96,000 Variable factory overhead 80,000 Office salaries 84,000 Straight line depreciation of plant assets 60,000 Sales salaries 72,000 Other fixed factory overhead 40,000 Sales commission 60,000

Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020:…

A: 1. Direct material used in production=Opening direct material + Raw material purchased-Closing…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Solution 1:   For external reporting purposes, the amount of inventoriable costs must be = Prime…

Q: During January 2021, XYZ Corp. produced 100,000 units of Product A with costs as follows: Materials…

A: Solution: Product cost per unit for external reporting purposes = Total manufacturing costs / Nos of…

Q: The following operating costs were extracted from the books of Paper Producers Ltd for…

A: Prime cost means the addition of direct material and direct labor and other direct expenses.…

Q: otal utilities, 80% relates to the manufacturing facilities & 20% relates to the office area.…

A: Direct Materials refers to the raw materials used to manufacture a product. Normally all the direct…

Q: Davis Corporation reported the following for the month of November: Total hourly wages of plant…

A: The question is based on  the concept of Cost Accounting.

Q: The following costs result from the production and sale of 1,000 drum sets manufactured by Tight…

A:

Q: Prepare an income statement for Bubba Manufacturing for the year ended June 30, 2020, clearly…

A: Solution:-                          Income Statement for Bubba Manufacturing for the year ended…

Q: Redillas Corporation's 2021 manufacturing costs were as follows: Prime costs P 430,000 Depreciation…

A: Inventory means the stock of goods in which the businessmen deals. For the purpose of valuation of…

Q: The following information pertaining to X Co.'s manufacturing operations: Inventories March 1, 2021…

A: Solution: Direct materials used = Beginning DM inventory + DM purchased - Ending DM inventory =…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Inventoriable costs for external reporting means all direct and indirect costs related with the…

Q: Windsor Corporation incurred the following costs during 2022. Direct materials used in product…

A: Cost of goods sold = Finished goods inventory, January 1 + cost of goods manufactured - Finished…

Q: Winston Company estimates that the factory overhead for the following year will be $609,500. The…

A: Determination of the factory overhead cost applied:: Factory overhead rate=$609,500/26500 Machine…

Q: Isem Co.’s 2019 manufacturing costs were as follows: Direct materials and direct labor P700,000;…

A: Cost sheet is as follows Prime cost =                                           700000 Add: variable…

Q: d)   Prepare a schedule of cost of goods manufactured for the year ended June 30, 2020, clearly…

A: Direct Material Cost=Beginning Direct Meterial Inventory+Raw Material Purchased-Ending Direct…

Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30,…

A: Given: The information about Bubba manufacturing company is given as, Some other information is…

Q: Custom Engines Company has the following estimated costs for the upcoming year: Direct labor costs…

A: The Numerical has covered the concept of predetermined overhead, The Predetermined overhead rate is…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: The cost that includes raw material cost, production cost, and factory overheads are known as…

Q: What was the amount of direct materials used in production? What was the amount of manufacturing…

A: Hey there since you have posted multiple questions, we can answer only first three question for you,…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Any costs incurred by a corporation that are not immediately related to the manufacturing process…

Q: he following cost data for the year just ended pertain to Sentiments, Inc., a greeting card…

A: 1a.

Q: Garrett Manufacturing sold 410,000 units of its product for $68 per unit in 2021. е. Variable cost…

A: Contribution margin is calculated by subtracting all variable cost from the sales.  Further…

Q: Dayton, Inc. manufactured 15,000 units of product last month and identified the following costs…

A: The total cost is calculated as sum of variable costs and fixed costs. The unit cost is calculated…

Q: God’s Will Ent., GWT, started its business in 2021. The following information was available for…

A:

Q: Davis Corporation reported the following for the month of November: Total hourly wages of plant…

A: Manufacturing overhead cost : It is the indirect cost which is incurred during the manufacturing of…

Q: Requirements: Answer both questions A. During the year, Bubba Manufacturing Company produced 4,000…

A: Cost of goods manufactured includes direct cost such as direct material, direct labor and factory…

Q: Of the 12,000 units produced by Hirofumi Company during April 2022, 10,000 units were sold at P50…

A: Under absorption costing, all manufacturing costs whether variable or fixed are included in cost of…

Q: What was the amount of direct materials used in production? b)    What was the amount of…

A:

Q: The Madalilangto Ink Company prepared the following table for the year 2019: Production Service…

A: Factory Overhead Factory overhead can be defined as the cost which is incurred during the…

Q: The following costs result from the production and sale of 12,000 CD sets manufactured by Gilmore…

A: 1.

Q: Custom Engines Company has the following estimated costs for the upcoming year: Direct labor costs…

A: Introduction Predetermined manufacturing overhead rate: Manufacturing overhead is the predetermined…

Q: Remedios Corporation's 2021 manufacturing costs were as follows: Prime cost P 600,000 100,000…

A: Product costs  for external reporting purpose = Prime costs + variable manufacturing overhead costs…

Q: First Buy Company provided the following manufacturing costs for the month of June.   Direct labor…

A: The variable costs are the costs that changes with change in production units number.

Q: The following costs result from the production and sale of 1,000 drum sets manufactured by Tight…

A:

Q: ctie Company reports the following costs and expenses in January 2020. Required:      From the…

A: solution calculation of total manufacturing overhead , period cost and product cost   Period…

Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30,…

A: Income statement is prepared to compute the total net profit or loss generated or incurred during an…

Q: During January 2021, XYZ Corp. produced 100,000 units of Product A with costs as follows: Materials…

A: Under the variable costing method, only variable manufacturing costs are considered as a process…

Q: Roundhead Corporation’s 2021 manufacturing costs were as follows: Prime costs…

A: Manufacturing costs  = Prime costs + Depreciation of factory equipment  + Depreciation of factory…

Q: P 1,120,000 Variable manufacturing overhead costs                       160,000 Depreciation of…

A: Total Cost of product =  Prime cost + Variable manufacturing O/h cost + fixed manufacturing cost.

Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020:…

A: The following calculations are done in the accounts of Bubba Manufacturing Company as per the…

Q: Prepare a cost of goods manufactured schedule for ABC Company for 2020. Prepare cost of goods sold…

A: Cost of goods manufactured is the production cost incurred for manufacturing a product.

Q: Winston Company estimates that the factory overhead for the following year will be $1,168,000. The…

A: Predetermined Overhead rate per machine hour = Estimated Overhead / estimated Machine hours =…

Q: Calculate the predetermined manufacturing overhead rate for the coming year using direct labor hour…

A: Solution Formula used the predetermined manufacturing overhead rate is the overhead rate that is…

Q: Frosting Corp. has provided the following relating to the most recent month (August 31, 2020) of…

A: Statement Showing Cost of Goods Sold

Q: Thomlin Company forecasts that total factory overhead for the current year will be $17,280,000 with…

A: Formula: Predetermined overhead rate = Estimated overhead / Estimated Machine hours.

Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30,…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Green Apple Company's 2020 manufacturing costs were as follows: Direct materials $70,000; Direct…

A: Under throughput costing, only the direct materials costs are considered as variable costs and other…

Q: Roundhead Corporation’s 2021 manufacturing costs were as follows: Prime costs…

A: Product costs are all type of direct costs that are incurred for production and manufacturing of…

Q: Davis Corporation reported the following for the month of November: Total hourly wages of plant…

A: Note: Administrative and Advertising expenses are not included in the cost of inventory. These…

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.