wment UNIT-IV De X 100 hours @4.50 per hour. Dept Y 65 hours@3.00 per hour DeptZ 35 Hours @7.50 per hour. Overheads expernses for these three departments were estimated as follown. wriable Overheads: Dept. X: Rs.10,000 for 2500 labour hours. Dept. Y: Rs.6,000 for 2000 labour hours. got Z: Rs.4,000 for 500 labour hours. werheads : stimated at Rs.40,000 for 10,000 normal working hours. Yo e cost of Job 777 and calculate the price to give a profit of 20
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- 3 9 12 15 1 18 For 2021, Peter Manufacturing uses machine-hours as the only overhead cost- allocation base. The estimated manufacturing overhead costs are $300,000, and estimated machine hours are 50,000. The actual manufacturing overhead costs are $420,000 and actual machine hours are 60,000. Using job costing, the 2021 budgeted manufacturing overhead rate is (Round the final answer to the nearest cent.) ○ A) $6.00 per machine-hour B) $7.00 per machine-hour OC) $8.40 per machine-hour D) $5.00 per machine-hourQUESTION 45 Reyes Corporation applies overhead based upon machine-hours using the predetermined overhead rate of $10 per machine hour. Budgeted factory overhead was $240,000, and budgeted machine-hours were 24,000 machine hours. Actual overhead cost was $270,000, and actual machine-hours were 25,000 machine-hours. By how much was the overhead over- or under-applied? A. $20,000 under-applied B. $30,000 under-applied C. $30,000 over-applied D. $10,000 over-applied E. $10,000 over-appliedproblem 5 Marites Company employs standard absorption system for product costing. The standard cost of this product is as follows: Raw Materials – P14.50; Direct Labor for 2 hours @ P8/hr is P16; Manufacturing overhead for 2 hours @ P11/hr is P22. The total cost/unit (14.50+16+22) = P52.50. The manufacturing overhead rate is based upon normal annual activity level of 600,000 direct labor hours. The company planned to produce 25,000 units each month during 2020. Budgeted factory overhead for 2020 is composed of P3,600,000 variable and P3,000,000 fixed. During April 2021, 26,000 units of product were produced using 53,500 direct labor hours at a cost of P433,350. Actual manufacturing overhead for the month was P260,000 fixed and P315,000 variable. The total manufacturing overhead applied during April was P572,000. The variable overhead spending variance must be:
- Direct Labor = $2.25 Materials = $2.30 Plant Overhead = $1.15 Administrative and selling expense = $0.80 Total = $6.50 A 10 percent markup ($0.65) was added to the cost per unit in arriving at the firm’s selling price of $7.15 (plus shipping). In May, LP received an inquiry from Southeast Department Stores concerning the possible purchase of folding chairs for delivery in August. Southeast indicated that they would place an order for 30,000 chairs if the price did not exceed $5.50 each (plus shipping). The chairs could be produced during the slow period using the firm’s existing equipment and workforce. No overtime wages would have to be paid to the workforce in fulfilling the order. Adequate materials were on hand (or could be purchased at prevailing market prices) to complete the order. LP management was considering whether to…Q= New Shalimar Steel’s management has made the following estimates at the start of the year. Department A B Machine-hours . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000 8,000 Direct materials cost . . . . . . . . . . . . . . . . . . . . . . . . . . $510,000 $650,000 Direct labor-hours . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,000 60,000 Direct labor cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $130,000 $420,000 Variable manufacturing overhead per machine-hour $1.50 – Variable manufacturing overhead per direct labor-hour – $2.00 Fixed manufacturing overhead cost . . . . . . . . . . . . . $497,000 $615,000 The following…Question 24 Bongani Limited manufactures a product that sells for R120. He manufactured and sold 12 500 units during the previous month. The following additional information, for this activity level, is available: Total direct material cost R281 250 Direct labour cost per hour R12 Direct labour hours needed per product 1 ½ Total variable manufacturing overheads R122 500 Sales commission (of the selling price) 2 ½ % Total fixed manufacturing overheads R360 000 Other fixed costs in total R420 000 Do the following calculations, according to the instructions given: Required: The workers at Bongani’s plant threaten to strike if they do not receive a pay increase of 10%. The sales people want a commission of 3%. The only supplier of the direct material has increased its price by 5% per unit. All other…
- 17. This is Cost Accounting. Explain briefly and answer. The following direct labor information pertains to the manufacture of Part J35:Number of hours required to make a part 2.5 DLHNumber of Direct workers 75Number of total productive hours per week 3000Weekly wages per worker P1,000 Laborers’ fringe benefits treated as direct labor costs 25% of wagesWhat is the standard direct labor cost per unit of Part J35? 62,500 78,125 41,670 84,125 74,350Q1. Jassim Compagny is producing only one product. Two types of direct materials are used to produce this product: direct material type A and direct material type B. The estimated data for Jassim Compagny is as following: Sales $90,000 Costs: Direct materials type A $40,000 Hourly employees 15,000 Manager’s salary 10,000 Direct materials type B 5,000 Marketing 10,000 Total Costs 80,000 Budgeted pretax profit $ 10,000 Compute the revenues needed to achieve a target after-tax income of $30,000. The income tax rate is 20%. What is the margin of safety in revenue?BE 20-1 High-Low Method 1The manufacturing costs of Rosenthal Industries for the first three months of the year follow: Total Costs Units Produced January $1,890,000 22,500 units February 2,800,000 35,000 March 4,230,000 55,000 Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost.
- Y2 Part 1 Clean−It−Up, Inc., is a manufacturer of vacuums and uses standard costing. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of budgeted machine-hours. In 2020, budgeted fixed manufacturing overhead cost was$18,000,000. Budgeted variable manufacturing overhead was $8 per machine-hour. The denominator level was 1,000,000 machine-hours.Q. The following data were taken from the records of a company. Period 1 Period 2 Period 3 Production(units) 30,000 38000 27000 Sales 30,000 27000 38000 Opening stock 11,000 Closing stock ------ 11,000 ------- Per unit cost are as follows: Direct material $ 1.5 Direct labor 1.0 Production overhead 3.0 Selling price per unit $ 9…Q. The following data were taken from the records of a company. Period 1 Period 2 Period 3 Production(units) 30,000 38000 27000 Sales 30,000 27000 38000 Opening stock 11,000 Closing stock ------ 11,000 ------- Per unit cost are as follows: Direct material $ 1.5 Direct labor 1.0 Production overhead 3.0 Selling price per unit $ 9…