ACTUAL MIDTERM XG company a job-order costing sys XC Solved: 1.Lupo Corporation Uses Xb My Questions | bartlebyezto.mheducation.com/ext/map/index.html?_con3Dcon&external browser%30&launchUrl%=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASSBkEPugso6197zDY2jbl3savPgrazaxftVYOlgUJ4J3uEQndHZ99QoKy3mg5kl.. *CTUAL MIDTERM EXAM GSavedHelpSave & ExitSul12AZ-99585 company makes and sells two products: Product W446 and Product Z591. The annual production and sales of Product W446 is 1,100 units and of Product Z591 is 300 units. Data concerning the expectedproduction of each product and the expected total direct labor-hours (DLHS) required to produce that output appear below:DirectTotalExpectedLabor-HoursDirectX 00:34 11ProductionPer UnitLabor-HoursProduct W4461,1002.02,200Product Z5913001.0300Total direct labor-hours2,500The direct labor rate is $2110 per DLH. The direct materials cost per unit is $229.00 for Product W446 and $220.00 for Product Z591.The AZ-99585 company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:EstimatedExpected ActivityActivityOverheadMeasuresCostProduct W446 Product Z591TotalActivity Cost PoolsDLHS$ 41,3362,2003002,500Labor-relatedorders64,7301,2003001,500Production ordersMHs433,7752,8003,7006,500Order size$539,841The unit product cost of Product W446 under activity-based costing is closest to: (Round your intermediate calculations to 2 decimal places)Multiple Choice$478.99 per unit< Prev12 of 12NextMcGrawHillEdocntion1:55 PMW1) A ENG師3/14/2021 JAL MIDTERMG company a job-order costing sys XC Solved: 1.Lupo Corporation Uses Xb My Questions | bartlebyx| +ezto.mheducation.com/ext/map/index.html? con%3Dcon&external_browser%3D0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASSBkEPugso6197zDY2jbl3savPgrazaxftVY0lgUJ4J3uEQndHZ99Qoky3mg5kl.JAL MIDTERM EXAM GSavedHelpSave & ExitThe AZ-99585 company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:12EstimatedExpected ActivityActivityOverheadActivity Cost PoolsMeasuresCostProduct W446 Product Z591TotalLabor-relatedDLHS$ 41,3362,2003002,500Production ordersorders64,7301,2003001,50000:34:08Order sizeMHs433,7752,8003,7006,500$539,841The unit product cost of Product W446 under activity-based costing is closest to: (Round your intermediate calculations to 2 decimal places.)Multiple Choice$478.99 per unit$521.19 per unit$249.99 per unit$750.19 per unit< Prev12 of 12NextMcGrawHillducation1:55 PI19) A ENG3/14/204Oprix MAG Berie

Activity-based costing: This costing is based on assigning the costs both overhead and direct to…

The AZ-99585 company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity Estimated Expected Activity Activity Overhead Activity Cost Pools Labor-related Production orders Measures Cost Product W446 Product Z591 Total $ 41,336 64,730 433,775 DLHS 2,200 300 2,500 1,500 6,500 orders 300 1,200 2,800 408 Order size MHs 3,700 $539,841 The unit product cost of Product W446 under activity-based costing is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $478.99 per unit $52119 per unit $249.99 per unit

The AZ-99585 company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity Estimated Expected Activity Activity Overhead Activity Cost Pools Labor-related Production orders Measures Cost Product W446 Product Z591 Total $ 41,336 64,730 433,775 DLHS 2,200 300 2,500 1,500 6,500 orders 300 1,200 2,800 408 Order size MHs 3,700 $539,841 The unit product cost of Product W446 under activity-based costing is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $478.99 per unit $52119 per unit $249.99 per unit

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....

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Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?
eBook Question Content Area Balance of Work in Process and Finished Goods, Cost of Goods Sold Derry Company uses job-order costing. At the end of the month, the following information was gathered: Job # Total Cost Complete? Sold? 301 $1,600 Yes No 302 1,240 Yes Yes 303 780 No No 304 2,300 Yes No 305 4,150 Yes No 306 350 No No 307 710 Yes Yes 308 620 No No 309 1,200 No No 310 515 No No The beginning balance of Finished Goods was $300, consisting of Job 300, which was not sold by the end of the month. Required: 1. Calculate the balance in Work in Process at the end of the month.$fill in the blank 1 2. Calculate the balance in Finished Goods at the end of the month.$fill in the blank 2 3. Calculate Cost of Goods Sold for the month.
Info in images Required: 1. Compute the product margins for the B300 and T500 under the company’s traditional costing system. 2. Compute the product margins for B300 and T500 under the activity-based costing system. 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. 1. Compute the product margins for the B300 and T500 under the company’s traditional costing system. (Round your intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) B300 T500 Total Product margin $0 2. Compute the product margins for B300 and T500 under the activity-based costing system. (Negative product margins should be indicated by a minus sign. Round your intermediate calculations to 2 decimal places.) B300 T500 Total Product margin $0 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. (Round your intermediate calculations to 2…
a) Explain if using volume-based cost drivers are relevant in the costing systems of 21st-century organisations b) Can an organisation use more than one costing system? Explain with an example. c) Summary information from KL Ltd's job cost sheets show the following information: Job January February March Completed Sold X01 $4 500 $1 500 February Not sold X02 $8200 january february X03 $2520 february march X04 $3200 $1400 April Not sold Required: What are the balances for January, February and March for each of the following for KL Ltd: work in process inventory finished goods inventory and…
Match each of the terms/phrases numbered 1 through 5 with the best definition a through e. 1. Cost accounting system 2. Target cost 3. Job 4. Process operation 5. Job order production a. Production activities for a custom product. b. Production activities for a special order. c. A system that records manufacturing costs. d. The expected selling price of a job minus its desired profit. e. Mass production in a continuous flow of steps.
32 S1: When raw materials are requisitioned and placed into production, the Raw Materials Inventory account is debited.S2: Over-applied overhead that is material in amount is closed to the Cost of Sales account at year-end. Group of answer choices False; False True; True True; False False; True
Spring 2021 : Cost Accounting - ACT208 Dashboard My courses ACT208 (S21) Najay Murray - Notes Discussion Question 1 Discussion Question 1 Search Search forums Discussion Question 1 Discussion Question 1 Settings Display mode Display replies flat, with oldest first Display replies flat, with newest first Display replies in threaded form Display replies in nested form Discussion Question 1 by Najay Murray - Thursday, 21 January 2021, 12:12 AM Number of replies: 9 Within the costing system of a manufacturing company the following types of expenses were incurred: Cost of oils used to lubricate production machinery Motor vehicle licenses for lorries Depreciation of factory plant and equipment Cost of chemicals used in the laboratory Commission paid to sales representatives Salary of the secretary to the finance director Trade discount given…
Question 3: The following data relates to the Aahil & co. for the month of June 2013. Company using job order costing system. Job Numbers Direct Material Direct Labor 1 30000 50000 2 20000 40000 3 30000 25000 4 15000 10000 FOH applied 120% of the direct labor to each. Job No. 1, 2 and Job No. 3 were completed. Job No. 1 & 2 was sold 45% above the cost. Required: b) Calculate the following requirements. i. COGM. ii.WIP ending. iv. FG ending. v. Gross profit
C15Q5 Need help Using the step-down method, allocate support-department costs. Develop overhead rates per direct manufacturing labor-hour for machining and assembly. Allocate the costs of the support departments in the order given in this problem. Use the allocation base for each support department you think is most appropriate. 2. Using the direct method, rework requirement 1. 3. Based on the following information about two jobs, determine the total overhead costs for each job by using rates developed in (a) requirement 1 and (b) requirement 2. Direct Manufacturing Labor–Hours Machining Assembly Job 88 23 2 Job 89 5 22 4. The company evaluates the performance of the operating department managers on the basis of how well they managed their total costs, including allocated costs. As the manager of the Machining Department, which allocation method would you prefer from the results obtained in requirements…
Question 3 Part I Advent Corporation has implemented an Activity Based Costing System. The company wants to useABC on its two main products, V1 and V2, and three main activities as follows:ActivityCost Driver Overhead Amount Total Driver VolumeIssuing Purchase Orders # of Purchase Orders $ 150,000 50,000Reviewing Receiving Reports # of Receiving Reports $ 175,000 20,000Making Phone Calls # of Phone Calls $ 450,000 100,000During the year:Product V1 required 150 purchase orders; 150 receiving reports; and 200 phone calls.Product V2 required100 purchase orders; 400 receiving reports; and 350 phone calls. Required:a. Compute the pre-determined overhead rate for each cost pool. b. Compute the total manufacturing overhead cost for Product V1 and Product V2.
Show the solution in good accounting form. Thank you! MLB Inc. is employing normal costing for its job orders. The overhead is applied using a predetermined overhead rate. The following information relates to MLB Inc. for the year ended December 31, 2020: Job No. 101 Job No. 102 Job No. 103 Job in Process, January 1, 2020 Direct Materials 40 000 30 000 0 Labor 60 000 40 000 0 Factory Overhead 30 000 20 000 0 Cost added during 2020 Materials 20 000 10 000 100 000 Labor 100 000 200 000 400 000 Factory Overhead ? ? ? Additional information: 1) Actual overhead for the year 2020 amounted to P350,000. 2) Jobs No. 101 and 102 were completed and transferred to finished goods during the year 2020. 3) Job No. 101 was sold during the year 2020. 4) The gross profit rate is 20% based on cost. 1. What is the total manufacturing cost for 2020? a. 1,400,000 b. 1,180,000 c. 480,000 d. 1,200,000 2. What is the cost of goods manufactured for 2020? a.…
Required: 1. SupposeKeller uses a traditionalcosting system withmachine hours as the costdriver. Determine the amount of overheadassigned to each product line.