What is the total factory overhead costs incurred by Personal Protective Gears & More during the period?
Q: nder what conditions might a company use activity-based costing to allocate factory overhead to…
A: Activity-based costing (ABC costing) is a way of assigning manufacturing overhead costs to…
Q: Required: What is the company's assembly department overhead rate using direct labor hours? The…
A: Assembly department overhead rate based on direct labour hours = Estimated manufacturing overhead of…
Q: Which of the following is part of factory overhead cost? a.depreciation of sales person's vehicle…
A: Cost accounting system: Cost accounting system of an organization consists of procedures and…
Q: Compute the cost of goods manufactured.
A: Managerial accounting is the branch of accounting used to generate reports for the purpose of…
Q: Which of the following is the formula to calculate the predetermined factory overhead rate? Group of…
A: Concept:
Q: The company uses normal costing and applies overhead on the basis of direct labor costs. The total…
A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…
Q: How to determine the per-unit factory overhead allocated to the commercial and residential motors…
A: Single plantwide factory overhead rate is the computation of one single overhead rate for the entire…
Q: Why is industrial overhead calculated using direct labor
A: This question explains about industrial overhead that which is using direct labor:
Q: If operating expenses are 18% of the total cost and expenses, how much was the applied factory…
A: Overhead means the cost incurred indirect in factory for the production of goods. Job costing means…
Q: What is the factory overhead of Job 502 and 503? What is the total cost for Job 501?
A: Overhead means the cost incurred indirect in factory for the production of goods. Job costing means…
Q: Determine whether each of the following costs should be classified as product costs or period costs.…
A: Product costs are those costs that are associated with the process of manufacture and period costs…
Q: What is the total manufacturing overhead cost incurred by Pro-Leather Company during the period?…
A: Manufacturing Overhead:-These is the total cost incurred for the production of goods which includes…
Q: he following are considered part of overhead accounts, except: a. Indirect Materials b.…
A: Solution:- Introduction:- Overhead means expenses that cannot directly traced to a particular…
Q: Calculate activity rate for general factory overhead using direct labor hours. How much of the…
A: Activity-Based Costing: It is the method of costing which is used to assign indirect costs to the…
Q: All of the following are product costs except: Group of answer choices period cost factory overhead…
A: The cost can be classified into two categories i.e. product cost and period cost. The product cost…
Q: Why must a company estimate the amount of factory overhead assigned to indivdual jobs or jobs lots
A: Factory overhead is the total cost involved in operating all production facilities of a…
Q: Identify whether the following items should be included in Direct Materials (DM), Direct Labor (DL),…
A:
Q: Manufacturing overhead costs would include:a. Marketing costs related to selling the product.b. The…
A:
Q: . What is the total factory overhead to be charged to each unit of Magnum? . What is the total…
A: ABC (Activity Based costing system): it is the method of allocating overhead cost to production…
Q: Factory overhead covers all expenses incurred during the manufacturing process other than direct…
A: Manufacturing process means the procedure by which the goods are produced for the purpose of…
Q: Discuss why businesses apply overhead to projects using predefined (factory) rates rather than real…
A: This question deals with predefined (factory) rates and real manufacturing overhead expenses.
Q: Why would a manufacturing firm switch from direct labor hours to machine hours as the cost driverfor…
A: Direct labor: Direct labor includes the wages of the employees who are directly involved in…
Q: Which one of the following represents a period cost? Fringe benefits associated with factory workers…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Which of the following items would be considered factory overhead for a automobile manufacturer?…
A: Factory overhead is a cost that is incurred in manufacturing process or for maintaining production…
Q: Describe the relations among the income statement, the schedule of cost of goods manufactured, and a…
A:
Q: a. Identify the factory overhead item and the total in USD b. Identify the period cost and the…
A: a. Manufacturing overheads: Depreciation plant and equipment 100 Plant Insurance 200…
Q: Which of the following is NOT an element of manufacturing overhead? Sales manager's salary Plant…
A: Manufacturing overhead means the cost incurred indirect in factory for the production of goods.
Q: Which one of the following represents a period cost? a. Fringe benefits associated with factory…
A: Financial statements are statements which states the business activities performed by the company .…
Q: Classify the following items as Direct materials, Selling and administrative expense, Factory…
A: Direct materials: Direct materials are the raw materials that are directly associated with the…
Q: Why are some manufacturing firms switching from direct-labor hours to machine hours or throughput…
A: Direct labor: Direct labor includes the wages of the employees who are directly involved in…
Q: Which of the following is not considered a cost of manufacturing a product? Group of answer choices…
A: Total manufacturing cost, or simply the cost of producing the things that will be sold to customers,…
Q: Discuss the reason why companies use predetermined (factory) overhead rates rather than actual…
A: Manufacturing overheads are the manufacturing costs that could not be directly associated with each…
Q: how to i get total direct labor for a company with hours and cost number available?
A: Direct labor cost: It is the cost of wages paid to the workers is called labor cost. The cost of…
Q: How would salaries of supervisors in the factory be classified? Group of answer choices
A: A supervisor or employee in a factory is not directly involved in production process as a Direct…
Q: Calculating under/overallocated overhead The T-account showing the manufacturing overhead activity…
A: Manufacturing overhead costs: The costs, which do not relate directly with the manufacturing of…
Q: What is the effect on the cost of goods sold and net operating income, if the cost of factory…
A: If cost of factory overhead applied are greater than the cost actual factory overhead, cost of goods…
Q: Total manufacturing costs are composed of the following, except: * a. Direct Materials b.…
A: SOLUTION- TOTAL MANUFACTURING COST IS THE AGGREGATE AMOUNT OF COST INCURRED BY A BUSINESS TO…
Q: Which one of the following is not a production overhead cost? Production line worker’s salary…
A: Production overheads means indirect costs related to production and manufacturing of goods in the…
Q: How do I record factory labor costs?
A: Factory costs are those costs or expenses which are incurred through the business to manufacture the…
Q: Which of the following costs would not be classifled as factory overhead? Multiple Cholce Insurance…
A: Factory overhead : Factory overhead is the indirect cost estimated and expensed by the…
Q: How do I calculate manufacturing overhead based on direct labor hours
A: Manufacturing overhead means all type of indirect costs that are incurred for production and…
Q: What account is credited when overhead cost is applied to Work in Process? Would you expect the…
A:
Q: Identify each of the following costs as either a product cost (PROD) or a period cost (PER). Rent on…
A: Solution: Introduction: Product Costs are the costs which are directly associated with the…
Q: Determine the amount of underapplied or overapplied manufacturing overhead for the period.
A: We can get to understand underapplied or overapplied manufacturing overhead by assuming some…
Q: Which method of determining operating income is used internally for decision making and considers…
A: There are mainly two costing methods adopted by the management to determine the operating income,…
Q: The income statement for a manufacturing company includes: Indirect Labor, Factory Overhead, and…
A: Option c is correct. Because income statement shows cost if goods sold in expenses in the following…
- What is the total
factory overhead costs incurred by Personal Protective Gears & More during the period?
Step by step
Solved in 2 steps with 1 images
- Personal Protective Gears & More (PPGM) design and manufacture masks for students. After production, the masks are placed into individual cases, before being transferred into Finished Goods. The accounting records of the business reflect the following data at June 30, 2021, for the manufacturing of masks for Mount Marlie High School.Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3 240,000Administrative Wages & Salaries…Personal Protective Gears & More (PPGM) design and manufacture masks for students. Afterproduction, the masks are placed into individual cases, before being transferred into Finished Goods. Theaccounting records of the business reflect the following data at June 30, 2021, for the manufacturing of masks for Mount Marlie High School. Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3…Personal Protective Gears & More (PPGM) design and manufacture masks for students. Afterproduction, the masks are placed into individual cases, before being transferred into Finished Goods. Theaccounting records of the business reflect the following data at June 30, 2021, for the manufacturing ofmasks for Mount Marlie High School.Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3 240,000Administrative Wages & Salaries…
- Personal Protective Gears & More (PPGM) design and manufacture masks for students. Afterproduction, the masks are placed into individual cases, before being transferred into Finished Goods. Theaccounting records of the business reflect the following data at June 30, 2021, for the manufacturing ofmasks for Mount Marlie High School.Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3 240,000Administrative Wages & Salaries…Personal Protective Gears & More (PPGM) design and manufacture masks for students. Afterproduction, the masks are placed into individual cases, before being transferred into Finished Goods. Theaccounting records of the business reflect the following data at June 30, 2021, for the manufacturing ofmasks for Mount Marlie High School.Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3 240,000Administrative Wages & Salaries…Personal Protective Gears & More (PPGM) design and manufacture masks for students. Afterproduction, the masks are placed into individual cases, before being transferred into Finished Goods. Theaccounting records of the business reflect the following data at June 30, 2021, for the manufacturing ofmasks for Mount Marlie High School.Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3 240,000Administrative Wages & Salaries…
- Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: How much net cash did the entity receive (give) with regards to the premium transactions for the year 2019 and 2020?Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: Compute for the premium liability for the year ended December 31, 2019 and 2020.Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED:Compute for the premiums expense for the year ended December 31, 2019 and 2020.
- Santana Rey, owner of Business Solutions, decides to diversify her business by also manufacturing computer workstation furniture. Prepare a schedule of cost of goods manufactured for Business Solutions for the month ended January 31, 2020. Assume the following manufacturing costs: Direct materials: $2,200 Factory overhead: $490 Direct labor: $900 Beginning work in process: none (December 31, 2019) Ending work in process: $540 (January 31, 2020) Beginning finished goods inventory: none (December 31, 2019) Ending finished goods inventory: $350 (January 31, 2020) . Prepare the cost of goods sold section of a partial income statement for Business Solutions for the month ended January 31, 2020.JIN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the premium transactions for the year given below? (if net cash outflow,…JINN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the premium transactions for the year given below? (if net cash…