Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Budgeted: $285,600 Overhead 84,000 Machine hours 10,200 Direct labour hours Actual : $285,000 Overhead 82,200 Machine hours 9,930 Direct labour hours $1,050,000 Prime cost 150,000 Number of units $285,600 What was the applied overhead for last year? Select one: a. $287,040 b. Insufficient information for calculation c. $278,440 d. $278,040

Q: FAITH, the consultant of JOY had summarized the following standard cost data extracted from the…

A: Budgeted hours = normal capacity x budgeted hours  per unit   = 400 units x 5 hours x 12 months   =…

Q: Findley Company and Lemon Company both use predetermined overhead rates to apply manufacturing…

A: 1. Predetermined overhead rate for Findley Company: Predetermined overhead rate = Estimated…

Q: Pinnocle Corporation has provided the following data from its activity-based costing system:…

A: Product Margin: There are four main types of profit margin: gross profit margin, which takes into…

Q: Mona moobl3 Ltd operates a standard costing system and absorbs overheads on the basis of standard…

A: Option b is correct.

Q: GB Corporation has a standard cost system in which it applies manufacturing overhead to products on…

A: Fixed overhead budget variance = Budgeted fixed manufacturing overhead cost - Actual fixed…

Q: The next two questions are based on the problem below. Question 1: How much is the cost of goods…

A: Cost of goods manufactured means the cost incurred for manufacturing the finished product. Jobs…

Q: MARISSA Co., the consultant of MARISOL Co. had summarized the following standard cost data extracted…

A: Budgeted hours = normal capacity x budgeted hours  per unit   = 400 units x 5 hours x 12 months   =…

Q: Rania Company has two departments, Machining and Finishing. The following estimates of Machining and…

A: Manufacturing Overhead: Manufacturing overhead is also known as Indirect Cost to the product cost.…

Q: CPA Corp. has provided the following data from its activity-based costing system: Activity Cost Pool…

A: Here in this question, we are required to compute margin of product WD40 per unit. Activity based…

Q: The data related to Shunda Enterprises Inc.'s factory overhead cost for the production of 50,000…

A:

Q: The controller of Ferrence Company estimates the amount of materials handling overhead cost that…

A: Hey, Since there are multiple questions posted, we will answer first question. If you want any…

Q: FAITH, the consultant of JOY had summarized the following standard cost data extracted from the…

A: Budgeted hours = normal capacity x budgeted hours  per unit   = 400 units x 5 hours x 12 months   =…

Q: The controller of Hendershot Corporation estimates the amount of materials handling overhead cost…

A: Indirect costs or overhead costs in the manufacturing activity will be allocated to products or jobs…

Q: Hollins, Inc., a manufacture of computer chips, employs activity-based costing. The budgeted data…

A: Under or over overhead applied terms comes when there is difference which exist between the overhead…

Q: Wilson Corporation manufactures a single product. The standard cost per unit of product is shown…

A: Since we only answer up to 3 sub-parts, we’ll answer the first three. Please resubmit the question…

Q: Pigot Corporation uses job costing and has two production departments, M and A. Budgeted…

A: Predetermine overhead rate is the rate of overhead which is calculated on the basis of estimated…

Q: Compute the following variances. Indicate whether each is favorable or unfavorable, where…

A:

Q: Jefferson Inc. has the following information for the month of September. The company applies OH…

A: In this question, we will calculate the total manufacturing overhead is under applied or over…

Q: phinx Company projected the following overhead costs and cost drivers: Overhead Item Expected…

A: calculation of overhead cost assign to job 1 are as follows

Q: Institute Technologies is choosing new cost drivers for its accounting system. One driver is labor…

A: Answer) Calculation of Total Flexible Budget for Actual Labor hours Flexible Budget for Actual Labor…

Q: For many years, Yotsuya Company has used a manufacturing overhead rate based on direct labor hours.…

A: Activity based costing means where overhead cost is allocated on the basis of some cost driver .…

Q: Cushing, Inc., costs products using a normal costing system. The following data are available for…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: data related to Shunda Enterprises Inc.'s factory overhead cost for the production of 40,000 units…

A: working notes: Variable factory overhead =Standard variable over -h - Actual variable over -h…

Q: Wyz Company is using the traditional costing method. lt applies overhead based on direct labor cost:…

A: Solution : Requirement 1 Under traditional Cost assigned to 212      =budgeted overhead / budgeted…

Q: Hamid Ltd produces two products – shoes and belts. At present the company uses absorption costing,…

A: Activity-based costing system is “a technique of cost attribution to cost units on the basis of…

Q: RHIANE CO. provided the following data from its activity-based costing systems: Total Cost P313,490…

A: Average cost per unit = Total cost /Number of units produced  Here total cost includes direct…

Q: Ripley, Inc., costs products using a normal costing system. The following data are available for…

A: Product cost includes all those costs which are incurred during the manufacturing process of the…

Q: A company manufactures small assemblies to order and has the following budgeted overheads for the…

A:

Q: Richey Company uses an actual cost accounting system that applies overhead on the basis of direct…

A: Given, Budgeted manufacturing overhead = $1,300,000 Budgeted direct labor hours = 26,000 Actual…

Q: Ripley, Inc., costs products using a normal costing system. The following data are available forlast…

A: The predetermined overhead rate is used for determining the standard cost of a product.

Q: Emma Corporation uses an overhead absorption rate of $3·50 per machine hour, based on 32,000…

A: Total overhead expenditure = $108,875 Machine hours = 30,000 hours Absorption rate (per machine…

Q: Ripley, Inc., costs products using a normal costing system. The following data are available for…

A: Predetermined overhead rate = Budgeted overhead/Budgeted  direct labor hours

Q: EMARISSA Co., the consultant of MARISOL Co. Had summxized the following standard cost data extracted…

A: Budgeted hours = normal capacity x budgeted hours  per unit   = 400 units x 5 hours x 12 months   =…

Q: The following standard data are available for ABC Corp to produce one unit of product X: ·…

A: Material cost per unit = 3 Yards*5 = 15 Direct labor cost per unit = 2 Hours*10 = 20 Overhead cost…

Q: A company has provided the following data from its activity-based costing system: Activity Cost Pool…

A:

Q: Mona moobl3 Ltd operates a standard costing system and absorbs overheads on the basis of standard…

A: Overheads are the indirect costs related with the production and manufacturing. These costs can not…

Q: ABC Company listed the following data for the current year:             Budgeted factory overhead…

A: As per the given information: Computation of Predetermined overhead rate based on direct labor…

Q: Calico Company costs its products using a normal costing system. Overhead is applied on the basis of…

A: Variance is considered as the difference between budgeted value and actual results. The applied…

Q: Consider the following situation for Junkee Corporation for the prior year. The company produced…

A: Under variable costing Sales( 900x 100)   90000 Less: variable cost     Direct Material (30…

Q: Mia Company uses activity-based costing and reports the following for this year. Activity Cost…

A:

Q: Process costing can be performed with estimated cost and production data and actual cost and…

A: If the manufacturing overhead cost applied to work in process is less than the manufacturing…

Q: PAX Corporation uses Part BLX in the assembly of a major product line .  The cost to produce one…

A: Opportunity cost is the forgone benefit, if the corporation shifts from one alternative to another…

Q: Hamilton Pty Ltd uses a standard costing system for product costing. The company uses direct labour…

A: FOH Volume Variance = $ 24,000 (Adverse)

Q: Compute the fixed portion of the predetermined overhead rate for the year. Compute the fixed…

A: Given that: Total budgeted fixed overhead cost for the year $300,000 Budgeted standard direct…

Q: PAX Corporation uses Part BLX in the assembly of a major product line .  The cost to produce one…

A: Here in this question, we are required to answer the amount of opportunity cost. Opportunity cost…

Q: ISQUID Corp. has provided the following data from its activity-based costing system: Activity Cost…

A: Under activity based costing, the overhead is allocated to production based on various activities.

Q: Gottshall Inc. makes a range of products. The company's predetermined overhead rate is $19 per…

A: Cost accounting is regarded as the process of collecting, analyzing, summarizing and evaluating…

Q: The Pipe Company manufactured two products A and B during the first year of its operations. For…

A:

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.