QUESTION 3 Based on discrete available-to-promise (ATP) logic, how many units are available-to-promise in period 3 based on the master production schedule (MPS) schedule provided below? Period Forecast Orders Projected available balance (initial 15 units) Available-to-promise (discrete) Master production schedule 10 25 None of the above 1 25 18 50 2 3 4 5 15 25 15 10 20 20 10 10 50

QUESTION 3 Based on discrete available-to-promise (ATP) logic, how many units are available-to-promise in period 3 based on the master production schedule (MPS) schedule provided below? Period Forecast Orders Projected available balance (initial 15 units) Available-to-promise (discrete) Master production schedule 10 25 None of the above 1 25 18 50 2 3 4 5 15 25 15 10 20 20 10 10 50

Financial & Managerial Accounting

14th Edition

ISBN:9781337119207

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter26: Lean Manufacturing And Activity Analysis

Section: Chapter Questions

Problem 26.18EX: Cost of quality and value-added/non-value-added reports for a service company A. Using the...

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Use the following information: Department Cost Percentage Service Provided to S1 S2 P1 P2 Service 1 (S1) $ 118,000 0% 45% 35% 20% Service 2 (S2) 50,000 20 0 20 60 Production 1 (P1) 405,000 Production 2 (P2) 276,000 Total $ 849,000 a. What percentage of S1’s costs is allocated to P1 and to P2 under the direct method? (Round your answer to the nearest fraction.) b. What percentage of S2’s costs is allocated to P1 and to P2 under the direct method? (Round your answer to the nearest fraction.) Question 2. The following information relates to a joint production process for three products, with a total joint production cost of $175,000. There are no separable processing costs for any of the three products. Product Sales Value at Split-Off Units at Split-Off 1 $ 227,500 680 2 87,500 1,020 3 35,000 1,700 $ 350,000 3,400 a. What percentage of joint cost is allocated to each of the three products using the…
Process Costing System Questions: Q1. ABC Company produces one product through two stages of productions; the manufacturing and the assembly. Two DM are added during the manufacturing stage; DM A is added at the beginning of the process, and DM B is added at the 75% of completion. Conversion cost is added gradually. The following is data for cost and production during 2020: Data Units DM A DM B CC Beginning inventory (60%) 20,000 $160,000 $0 $60,000 Added units 80,000 $680,000 $300,000 $435,750 Ending Inventory (80%) 25,000 Required: Prepare the stage report for the manufacturing stage using, a) WA, and B) FIFO Journalize the required entry to transfer the completed units and prepare the ledger of the manufacturing stage. Q2. ABC Company is a manufacturing company that produces biscuits covered with chocolates. The company has two stages; manufacturing stage where they add the biscuits at the beginning of the production.…
Question 3A product is manufactured by passing materials through two processes. Production costs for2021 January are as follows:Process A Process BDirect materials 4 000 kg @ $3.00 per kg 1 500 kg @ $2.50 per kgDirect labour $2 000 $1 500Overheads 100% of direct labour cost 125% of direct labour costThere is no beginning or ending work in progress inventory.Normal losses:Process A 10%Process B 5%Scrapped values:Process A $1.75 per kgProcess B $2.50 per kgOutput for 2021 January was:Process A 3 500 kgProcess B 5 050 kgA. Prepare Process A and Process B accounts. B. Prepare abnormal loss/gain accounts. C. Explain the term, equivalent units.
Question No. 4: Production under Constrained Resources Glover Company makes three products in a single facility. These products have the following unit product costs:ProductABCDirect materials$35.10$51.60$58.00Direct labor22.5025.1015.90Variable manufacturing overhead2.301.701.60Fixed manufacturing overhead12.207.808.40Unit product cost$72.10$86.20$83.90Additional data concerning these products are listed below.ProductABCMixing minutes per unit1.300.800.20Selling price per unit$81.00$103.40$96.90Variable selling cost per unit$2.90$3.40$3.20Monthly demand in units310044002400The mixing machines are potentially the constraint in the production facility. A total of 7930 minutes are available per month on these machines. Direct labor is a variable cost in this company.Required : a. How many minutes of mixing machine time be required to satisfy demand for all three products?b. How much of each product should be produced to maximize net operating income?ABCOptimal productionc. Up to how much…
2. ABC Company uses a joint process to produce products A, B, and C. The joint production costs for 201Awere 500,000 and were allocated using relative sales value at the split-off point method.Each product may be sold at its split-off point or processed further. Additional processing costs are entirelyvariable.ProductsSales Value atSplit-offAdditionalProcessingCostsFinal SalesValueA P300,000 P130,000 420,000B 120,000 100,000 230,000C 250,000 140,000 400,000P670,000 P370,000 P1,050,000 a. To maximize profit, which product/s should be sold at split-off point and be processed further,respectively?b. If the alternative were to sell at split-off point or to process further all products, which alternativewould be recommended?
What is the equivalent units of production (EUP) on conversion in Department 3? a.19,000 b.18,500 c.18,275 d.18,850
Items 3 – 6 Cena Company employs FIFO process costing system concerning its only product which undergoes production in assembly department and finishing department. The following data for the year ended December 31, 2020 are provided:ASSEMBLY DEPARTMENTUnits CostJanuary 1, 2020 100,000 units – 40% completed as to conversion costDM – P3MDL – P5MFOH – P2MDecember 31, 2020 150,000 units – 80% completed as to conversion costs?Units started during the year 400,000 unitsDM cost added during 2020 – P12MDL cost added during 2020 – P15MFOH cost added during 2020 – P13MFINISHING DEPARTMENTJanuary 1, 2020 50,000 units – 70% incomplete as to conversion costTransferred In – P10MDM – P6MDL – P1MFOH – P3MDecember 31, 2020 30,000 units – 10% incomplete as to conversion costs?Units started during the year ?DM cost added during 2020 – P30MDL cost added during 2020 – P40MFOH cost added during 2020 – P10MAdditional Information:• It is the company policy to apply direct labor and factory overhead uniformly…
Part B: Assuming Wildhorse uses the FIFO method of process costing, complete Step 4 to determine its cost per equivalent unit for both DM and conversion costs. (Round cost per equivalent unit answers to 2 decimal places, e.g. 15.25.) DM Conversion Costs Total equivalent units of work done this period (FIFO) 29,000 26,000 STEP 4 Calculate Cost Per Equivalent Unit DM Conversion Cost select an item Correct answer $enter a dollar amount Correct answer $enter a dollar amount Correct answer select an item Correct answer enter a number of unitsCorrect answer enter a number of unitsCorrect answer select a closing name Correct answer $enter a dollar amount rounded to 2 decimal places $enter a dollar amount rounded to 2…
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Simplifying the ABC System: Equally Accurate Reduced ABC Systems Selected activities and other information are provided for Patterson Company for its most recent year of operations. Expected ConsumptionRatios Activity Driver Quantity Wafer A Wafer B 7. Inserting dies Number of dies 2,200,000 0.7 0.3 8. Purchasing materials Number of purchase orders 1,900 0.2 0.8 1. Developing test programs Engineering hours 11,500 0.25 0.75 3. Testing products Test hours 20,000 0.6 0.4 ABC assignments $155,000 $155,000 Total overhead cost $310,000 Required: 1. Form reduced system cost pools for activities 7 and 8. Do not round interim calculations. Round your final answers to the nearest dollar. Inserting…
Question 15 The assembly division of Quality Time Pieces, Inc. uses the FIFO method of process costing. Consider the following data for May 2020: Physical units Direct Materials Conversion Costs Beginning WIP 100 $459,888 $142,570 Started in May 2020 510 Completed during May 2020 450 Total costs added during May 2020 $3,237,000 $1,916,000 Degree of completion: Beginning WIP: direct materials 80%; conversion costs 35% Degree of completion: Ending WIP: direct materials 80%; conversion costs 40% What would be the cost of units completed and transferred out using FIFO method? Group of answer choices $4,065,000 $4,667,140 $1,088,000 $4,207,570
QUESTION 49 The Sanding Department had 10,000 units in its beginning work-in-process inventory that were 60% complete with respect to conversion. 80,000 units were started during the period. The department finished and transferred out 70,000 units. And there were 20,000 units in the ending work-in-process that were 10% complete with respect to conversion. Assume that the first-in first-out method is used. What were the equivalent units (EU) of production for conversion? A. 78,000 B. 66,000 C. 68,000 D. 72,000