Zapora Bhd manufactured smart watches. In November 2021, Zapora produced 2,200 watches with the following costs: Direct Materials                        $32,000 Direct Labour                             $13,000 Manufacturing Overheads     $27,000 Additional information: There is no opening or closing stock of work-in-progress (WIP) during the month of November.   Calculate the Prime Costs for November 2021. Select one: a.$45,000 b. $40,000 c. $72,000 d. $32,000

Q: Golden Ventures has the following inventories for the month of December 2020:…

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

Q: What would be Casiu’s operating income for 2021 under absorption costing method?

A: In absorption costing, fixed factory overhead are also considered as part of product costs. The…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Solution 1:   For external reporting purposes, the amount of inventoriable costs must be = Prime…

Q: During January 2021, XYZ Corp. produced 100,000 units of Product A with costs as follows: Materials…

A: Solution: Product cost per unit for external reporting purposes = Total manufacturing costs / Nos of…

Q: Davis Corporation reported the following for the month of November: Total hourly wages of plant…

A: The question is based on  the concept of Cost Accounting.

Q: Company XYZ produces computer laptops. During July 2019, the company produced 1,000 laptops. The…

A: The direct materials cost is that cost which is incurred in producing or manufacturing a product. It…

Q: apora Bhd manufactured smart watches. In November 2021, Zapora produced 2,200 watches with the…

A: Total product costs = Direct materials + Direct labour + Manufacturing overheads

Q: Winston Company estimates that the factory overhead for the following year will be $675,400. The…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: The following manufacturing costs were incurred by the Miracle Mile Company in 2019:…

A: Direct materials ($225,000 / 50,000) x40,000 x 112% $ 201,600 Direct labor ($350,000 / 50,000) x…

Q: Quality, Inc. produced 1,000 units of the company's product in 2018. The standard quantity of direct…

A: Advantages in setting standards for cost:  Helps in Master Budget Planning.  Helps in establishing…

Q: . LMN Ltd has the following data relating to its assembly plant for the year to 31 March 2022:…

A: Overhead cost per direct labour hour means total overhead cost incurred divided by total direct…

Q: Sheffield Clothiers is a small company that manufactures tall-men's suits. The company has used a…

A: In this question, we have to find out various types of variances. We will calculate the same in the…

Q: Winston Company estimates that the factory overhead for the following year will be $609,500. The…

A: Determination of the factory overhead cost applied:: Factory overhead rate=$609,500/26500 Machine…

Q: Cyber Lighting manufactures different models of LED ring lights. The company produced 7,000 units of…

A: Unit cost is computed by dividing the total costs incurred on the product divided by the units…

Q: The balance sheet of Barangay Manufacturing Company showed the following balances on December 31,…

A:

Q: Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and…

A: Income Statement under Absorption and Variable Costing   Difference between the above two statements…

Q: The following information pertaining to X Co.'s manufacturing operations: Inventories March 1, 2021…

A: The total cost of a product is calculated and it comprises various components which are required to…

Q: Cepeda Corporation has the following cost records for June 2020. Indirect factory labor   $5,210…

A: Income statement in the business shows all incomes and expenses of the business and at the end it…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Any costs incurred by a corporation that are not immediately related to the manufacturing process…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Period Cost are costs charged as an expense in the profit and loss account  of the period in which…

Q: Jane Company produces clothes. One of the company's products is Diana Skirts which are sold for $90…

A:

Q: Yellow Ltd, a food manufacturer, is reviewing its operation for March 2021. The company produces…

A: Let's start with the, Material price variance It shows the variance between the standard rate at…

Q: Sea Eagle is a kayak manufacturer. For July 2021, Sea Eagle had the following standard costs for…

A: Direct material price variance  = (Standard price  - Actual price) × Actual quantity purchased

Q: Bairstow Company manufactures and sells a single product. The following costs were incurred during…

A: Lets understand the basics. Entuty generally follow one of the two type of costing system which are,…

Q: Company XYZ produces computer laptops. During July 2019, the company produced 2,000 laptops. The…

A: Manufacturing cost is the total costs which are related to the product making while in the process…

Q: Bairstow Company manufactures and sells a single product. The following costs were incurred during…

A: According to the given question, we are required to show and prepare the income statement and…

Q: God’s Will Ent., GWT, started its business in 2021. The following information was available for…

A:

Q: Davis Corporation reported the following for the month of November: Total hourly wages of plant…

A: Manufacturing overhead cost : It is the indirect cost which is incurred during the manufacturing of…

Q: During January 2020, L Company produced 1,000 units of Product A with costs as follows: Materials P.…

A: The income statement is prepared using various methods as variable costing and absorption costing…

Q: Bairstow Company manufactures and sells a single product. The following costs were incurred during…

A: Answer-  Solving first three subparts : Part 1 - Computation of the cost to produce one unit of…

Q: Bairstow Company manufactures and sells a single product. The following costs were incurred during…

A: Variable Costing - Variable costing is based on the distinction between fixed and variable costs.…

Q: First Company manufactures knife sets. For the first ten months of 2021, the company reported the…

A: Incremental analysis is a business decision-making methodology for determining the true cost…

Q: 2. Yellow Ltd, a food manufacturer, is reviewing its operation for March 2021. The company produces…

A: Variance analysis is very important technique of comparing budgeted costs with actual costs in order…

Q: Moonbeam Company manufactures toasters. For the first 8 months of 2020, the company reported the…

A: Variable Cost of goods sold per unit = (Cost of goods sold x 70%)/No. of units  =…

Q: Williamson Inc. manufactures digital voice recorders. During 2019, total costs associated with…

A: Marginal costing: Under this costing, it is assumed that only the variable cost is the product cost.…

Q: Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and…

A: An income statement is a statement that is a part of financial statements which is prepared to…

Q: Murry, Inc. produced 1,000 units of company's product in 2024. The standard quantity of direct…

A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

Q: During January 2021, XYZ Corp. produced 100,000 units of Product A with costs as follows: Materials…

A: Under the variable costing method, only variable manufacturing costs are considered as a process…

Q: Al-Firdaus Co. had the following information during 2019: Total Paint Costs R.O. 27,000 Month…

A: High- Low mentod is a way to separate out fixed cost and variable cost. In this method we select…

Q: NUBD Company began its operations on January 1, 2021, and produces a single product that sells for…

A: Solution: Ending inventory Units = 100000 - 80000 = 20,000 units Fixed Factory overhead per unit =…

Q: Merry Company produces clothes. One of the company's products is KIKILULU Skirts which are sold for…

A: The Business organization prepared the income statement so as to determine how much gross profit or…

Q: Winston Company estimates that the factory overhead for the following year will be $653,400. The…

A: Overheads are considered as fixed and common expenses that should be allocated to the products based…

Q: Inc. produced 1,000 units of the​ company's product in 2024. The standard quantity of direct…

A: Budgeting. A budget is always composed of standard costs, since it would be impossible to include in…

Q: Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and…

A: Req-1     Sims Company     Variable costing Income Statement     Sales (75000 units * $360)…

Q: Jane Company produces clothes. One of the company's products is Diana Skirts which are sold for $90…

A: The income statement is prepared to record revenues and expenses of the current period and find net…

Q: LMN Ltd has the following data relating to its assembly plant for the year to 31 March 2022:…

A: Overhead costs, also known as indirect costs, are costs incurred in the production process that…

Q: Al-Can Products, Inc. estimates that it will build 5,000 benches next year. For this amount of…

A: This question asks for the overhead application rate for next year. Overhead Application Rate =…

Q: Zapora Bhd manufactured smart watches. In November 2021, Zapora produced 2,200 watches with the…

A: Product costs means those costs which are incurred directly for the production and manufacturing…

Q: Zain Company produces pipes for concert-quality organs. Each job is unique. In April 2020, it…

A: (1) Computation of total cost  for Job M1 Particular Amount Direct Material cost  78000 (+)…

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.