week 12 HW assignment 1 question 5

Name: Program-Year-Section: Exercise I-Set A To Date: Professor: Score: 3A Corporation makes different types of hubcaps for cars. The company accumulates volumes of metal edges as scrap. At least once a month, the scrap metal is sold to a local manufacturer for further processing. This month's scrap sales on account total P15,000.00. The company is using normal cost system. Required: Prepare the appropriate journal entry to record the sale of the scrap for each of the following alternatives: Tok 1. Scrap sale is viewed as additional revenue 2. Scrap sale is viewed as reduction of cost of goods sold 3. When scrap materials are traceable as indirect materials 4. When scrap materials are traceable as direct materials

E5-3A Stage Two ABC for Manufacturing: Reassigning Costs to Cost Objectives           National Technology, LTD. has developed the following activity cost information for its manufacturing activities:                         Activity Activity Cost               Machine setup $60.00 per batch               Movement 15.00 per batch                 0.10 per pound               Drilling 3.00 per hole               Welding 4.00 per inch               Shaping 25.00 per hour               Assembly 18.00 per hour               Inspection 2.00 per unit                                     Filling an order for a batch of 50 fireplace inserts that weighed 100 pounds each required the following:     * Four batch moves                     * Two sets of inspections                   * Drilling ten holes in each unit                   * Completing 100 inches of welds on each unit               * Forty-five minutes of shaping for each unit               * One hour…

Required Exhibit 13.4 in the chapter as your guide. E13-4 Time allowed: 10 minutes cover a relevant range of 15,000 to 25.000 machine-hours each year. Overhead costs Cost formula Utilities £0.30 per machine-hour Indirect labour £52,000 plus £1.40 per machine-hour Supplies £0.20 per machine-hour Maintenance £18,000 plus £0.10 per machine-hour Depreciation 000'obF Required Prepare a flexible budget in increments of 5,000 machine-hours. Include all costs in your budget. E13-5 Time allowed: 20 minutes The variable portion of Murray Company's flexible budget for manufacturing overhead is given below: Machine-hours Cost formula 000 £2,800 Variable overhead costs (per machine-hour) £0.20 £2,400 Supplies 000 11,200 Maintenance 009'b 000' 1,200 1,400 Utilities 0.10 000 0 00 £21,000 0.40 4,800 Rework time 000 0 £1.50 £15,000 £18,000 Total variable overhead cost During a recent period, the company recorded 11,500 machine-hours of activity. The variable overhead costs incurred were: Supplies…

Schedule of Activity Costs Quality Control Activities Process audits Training of machine operators Processing returned products Scrap processing (disposal) Rework Preventive maintenance Product design Warranty work Finished goods inspection Activity Cost $50,000 28,000 19,000 25,000 8,000 30,000 46,000 12,000 23,000 From the provided schedule of activity costs, determine the value-added costs. A.$177,000 B.$191,000 C.$156,000 D.$104,000

Current Attempt in Progress Splish College provides its own housekeeping services. The College director would like to outsource this service and has found a company that will provide the service for $49 per hour. The following information has been collected about the cost per hour to the college for performing its own housekeeping services Cost per hour of service: Cleaning supplies $3 Direct labour costs $27 Variable overhead $1 Total hours of housekeeping services per year 3,040 Total fixed overhead $55,080 (a) Your answer is partially correct Determine whether Splish College should outsource housekeeping, assuming that 50% of fixed costs can be eliminated if the service is outsourced. (If an amount reduces the net income then enter with a negative sign preceding the number, eg-15,000 or parenthesis, eg (15,000). While alternate approaches are possible, irrelevant fixed costs should be included in both options when solving this problem.) amber of hours: 040 In-house eaning supplies…

Camden County College References X b My Questions bartleby Chapter 3 Quiz + v denccinstructure.com/courses/3788/assignments/35967?module item id=88693 Question 12 --/- View Policies Current Attempt in Progress Concord Company decided to analyze certain costs for June of the current year. Units started into production equaled 27000 and ending work in process equaled 3500 units. With no work in process was 20% complete and total conversion costs equaled $135520? beginning work in process inventory, how much is the conversion cost per unit if ending O $4.44. O $2.80. O $5.60. O $5.02. e Textbook and Media Attempts: 0 of 1 used Submit Answer Save for Later Next > < Prev Send to Gradebook 11:42 10/4/2 hp ins prt sc f12 f11 I f10 f5 f6 f8 home delete enc II % num 6 9 backspace 7 lock

föllowing Cost Factor Site B 170,000$ Site A Price of land 100,000S Monthly cost of delivering materials S 10,000 $ 7,000 Cost of equipment setup $ 12,000 $ 9,000 Cost of utilities per month $ 1,500 1,100 For site A, an extra $ 60/ day is needed for additional site guards. a- Which site should the contractor select? b- When do the costs of two sites are equals (After how many months of work the costs are similar)?

Question 4             You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar product, and you have produced the following data based upon the production of 1200 heaters in the six months to December 31, 2021.                                                                                       R                                 R Unit selling price                                                                                            160 Less: Direct materials                                                 50            Direct labour                                                    30 Fixed Overheads: Admin                                                                         4.00 Rent                                                                            7.50 Rates…

Seneca homepage с ngage 16 -d out of e x View Assessment Direct Materials Direct Labour ameengage.com/mod/quiz/attempt.php?attempt=4742915&cmid=1254194&page=15 Simcoe Hotel Laundry Production Costs For the Year Ended December 31, 2020 Housekeeping Supervisor Depreciation of laundry equipment Allocated Fixed Costs Total Cost X 3 Simcoe Hotel currently launders all of its towels and sheets in the basement of the hotel. The company's accounting department has reported the following annual costs of laundering internally. * Th Test #4: Ch 8 & 9 10 Per kg 7,000 kg $5.00 $35,000 $10.00 $70,000 $10.00 $70,000 $2.00 $14,000 $7.00 $49,000 $34.00 $238,000 An external company has offered to process 7,000 kg of laundry per year at a price of $18 per kg. Also consider the following information: • The laundry equipment has no salvage value and has no other use aside from processing the laundry. It cannot be sold. • The fixed costs allocated to the laundry are common to the whole housekeeping…

Compute for the cost of Product X Motor Company Overhead Estimates for 2022 Activity Cost Driver Materials Handling No. of Kilos Production Set-ups No. of Runs Quality Inspections Inspection hours Machine Depreciation Machine hours Additional Data Direct Labor Direct Materials Materials Handling Production Set-ups Quality Inspections Machine Depreciation P40,040.00 P42,140.00 P2,100.00 O P1,158.00 Product X 60 Kilos 20 Runs 100 Inspection hours 1200 Machine hours 500.00 1,600.00 No. of Cost Driver units Overhead costs 50,000.00 200,000.00 300.00 300,000.00 4,000.00 600,000.00 20,000.00 80,000.00

Question 5             You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar product, and you have produced the following data based upon the production of 1200 heaters in the six months to December 31, 2021.                                                                                       R                                 R Unit selling price                                                                                            160 Less: Direct materials                                                 50            Direct labour                                                    30 Fixed Overheads: Admin                                                                         4.00 Rent                                                                            7.50 Rates…

Task 2: CLO4 OBJECTIVE: To enable learners to identify the relevant costs and benefits from costs and revenue information available in the financial database to aid decision making on time. REQUIREMENT: Short term decision making Question Selma Corporation uses Part PB7 in one of its products. The company's Accounting Department reports the following costs to produce 7,000 units of the PB7 that are needed every year. $ per unit Direct materials 7.00 Direct labour 6.00 Variable overhead 5.60 Supervisor's salary Depreciation of special equipment Allocated general overhead 4.70 1.50 5.40 An outside supplier has offered to make the part and sell it to the company for $28.30 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company. If…

om/courses/423/quizzes/21056/take Maps Redillas Corporation's 2021 manufacturing costs were as follows: Prime costs P 430,000 Depreciation of factory equipment Depreciation of factory building 000'0 Janitor's wages for cleaning factory area Salesmen's commission based on sales 000'0 Depreciation for delivery van 000'0 How much of these costs should be inventoried for external reporting purposes? OP 612,000 O P 500,000 O P 647,000 O P 512,000 Question 60 On May 1, 2020, the Department of Labor mandated a salary increase that affected the la MacBook Pro

amden County College References Chapter 3 Quiz b My Questions | bartleby instructure.com/courses/3788/assignments/35967?moduleitem id-88693 View Policies Current Attempt in Progress A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of July, there was no the ending work in process that were 30% complete. During July, $174600 materials costs and $152660 conversion costs were charged to the department. beginning work in process; 39200 units were completed and transferred out; and there were 19000 units in The unit production costs for materials and conversion costs for July were Conversion Costs Materials $2.62 $3.89 $3.40 $3.00 $3.89 $4.45 $2.62 $3.00 eTextbook and Media 10:51 A A 4 10/4/2 ip en ins home f12 delete no l prt sc f9 f8 f7 f6 X

Question 1.2   Alejandro Kirk Manufacturing produces two types of entry doors: Deluxe and Standard. The assignment basis for support costs has been direct labour dollars. For 2021, Alejandro Kirk the following data for the two products:       Deluxe  Standard  Sales units  50,000  400,000  Sales price per unit  $650.00  $475.00  Direct material and labour costs per unit  $180.00  $130.00  Manufacturing support costs per unit  $80.00  $120.00    Last year, Alejandro Kirk Manufacturing purchased an expensive robotics system to allow for more decorative door products in the deluxe product line. The CFO suggested that an ABC analysis could be valuable to help evaluate a product mix and promotion strategy for the next sales campaign. She obtained the following ABC information:    Activity  Cost Driver  Cost  Total  Deluxe  Standard  Setups  # of setups  $500,000  500  400  100  Machine related  # of machine hours…

Stage 2 ABC for Manufacturing: Reassigning Costs to Cost Objects Woodland Corporation has developed the following activity cost information for its manufacturing activities: Activity Activity cost Machine setup $ 70.00 per batch Movement 12.00 per batch move 0.12 per pound Drilling 5.00 per hole Welding 3.00 per inch Shaping 20.00 per hour Assembly 16.00 per hour Inspection 1.50 per unit Filling an order for a batch of 100 fireplace inserts (each insert weighing 50 pounds) required the following: • Three batch moves • Two sets of inspections • Drilling six holes in each unit Completing 90 inches of welds on each unit • Thirty minutes of shaping for each unit • One hour of assembly per unit Determine the activity cost of converting the raw materials into 100 fireplace inserts. $ 34,946

Riverbed's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. 2 W S X Restorers' wages and fringe benefits Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs (a) Your Answer Correct Answer # 3 E The company anticipated that the restorers would work a total of 12,720 hours this year. Expected parts and materials were $1,335,600. D In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $70.00 and that the material loading charge was 83.00%. Your answer is correct. C 80 $ 4 R F V % 5 T G A Time Charges $292,560 6 63,600 25,440 $381,600 B Y H & 7 ← Material Loading Charges $71,550 U N 21,942 66,780 $160,272 * 00 8 J M ▶ 9 K O L P

uestions | bartleby G How many units must be in... My Home CengageNOWv2| Online te.. eBook Show Me How A production department within a company received materials of $10,000 and conversion costs of $8,000 from the prior department. It added material of $36,500 and conversion costs of $70,750. The equivalent units are 25,000 for material and 22,500 for conversion. What is the unit cost for materials and conversion? When required, round final answers to two decimal places. Unit Cost Materials Conversion $ + %24

O d. Establishing goals Almu O e. Choosing among alternatives 128 Company XYZ is currently producing and selling 100 units. At this level, the total direct materials cost is $500, the total direct labor cost is $1,000 and the total manufacturing overhead cost is $1,220, which includes $800 fixed manufacturing overhead cost. The company's total selling and administrative expenses are $2.600, which include $1,500 fixed selling and administrative costs. Assume that the company wishes to increase the number of units produced and sold to 102 units, what would be the incremental cost? (rounded to nearest ($) value) Finish a O a. 60 О. 30 Oc 38 O d. 54 O e. None of the given answers NEXT PAGE IOUS PAGE ACCT2121 Origin Ggeneral-chat ASUS TUF GAML

u                                                                                                               messageQ&A notifications account_circle   Business AccountingQ&A LibraryAn operations manager narrowed the search for a new facility location to four communities. The annual fixed costs (land, property taxes, insurance, equipment, and buildings) and the variable costs (labor, materials, transportation, and variable overhead) are as follows:Community Fixed Costs per Year Variable Costs per UnitA $150,000 $62B $300,000 $38C $500,000 $24D $600,000 $30Notice that no community dominates the set of alternatives; that is, no community has both the lowest fixed costs and the lowest variable costs per unit. If that were so, that community would be the best location.Step 1. Plot the total cost curves for all the communities on a single graph. Identify on the graph the approximate volume range…

nventory                    1/10/2021        31/12/2021 Raw Materials             $72,000           $65,000 Work in Progress        $138,875         $129,125 Finished Goods           $149,500         $141,700   Other information: Sales Revenue                                                 $1,694,950 Factory Labour                                               239,700 Raw Materials Purchased                               235,000 Office Cleaner’s Wages                                  4,500 Factory Supplies Used                                    23,500 Depreciation: Factory Plant & Equipment     32,000 Total Utilities                                                  118,750 Plant Supervisor’s Salary                               180,000 Design Costs ( Logo)                                      4,300 Packaging Material Cost                                35,000 Total Insurance                                               60,000 Delivery Vehicle Drivers’ Wages…

Question 7           You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar product, and you have produced the following data based upon the production of 1200 heaters in the six months to December 31, 2021.                                                                                       R                                 R Unit selling price                                                                                            160 Less: Direct materials                                                 50            Direct labour                                                    30 Fixed Overheads: Admin                                                                         4.00 Rent                                                                            7.50 Rates…

Ginni Kaur ACC 3140 quiz for chapter 17. Due with final, or as an attachment to an email to my campus email by 12 midnight pst. 12-16-2022. Dance in the Dark, Inc., amoung other things, manufactures dolls. The monthly production from an initial joint process is as follows: Costs of initial processing Direct Materials (plastic) Direct Labor (machinists) Variable Overhead (utilities, maint., etc.,) $ 55,000. 35,000. 110,000. At which point, 10,000 units of product ( the basic doll )are ready for further processing. Since the units of production method is used to apply costs of the joint process to the units produced, the units go forward with a $20 cost so far. These units are further processed into three main models, Marilyn ( 4800 units), Judy (3100 units) and Sylvia (the remaining 2100). Assume that this product sales mix is not going to change, due to the constraints of demand. The further processing costs are added to the $ 20 to figure out the total per unit production cost.…

Question 59 Redillas Corporation's 2021 manufacturing costs were as follows: Prime costs P 430,000 Depreciation of factory equipment Depreciation of factory building 000'00 I Janitor's wages for cleaning factory area i 000' Salesmen's commission based on sales Depreciation for delivery van How much of these costs should be inventoried for external reporting purposes? O P 612,000 O P 500,000 O P 647,000 O P 512,000 Question 6O MacBook Pro

Question 11             You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar product, and you have produced the following data based upon the production of 1200 heaters in the six months to December 31, 2021.                                                                                       R                                 R Unit selling price                                                                                            160 Less: Direct materials                                                 50            Direct labour                                                    30 Fixed Overheads: Admin                                                                         4.00 Rent                                                                            7.50 Rates…

Question 17             You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar product, and you have produced the following data based upon the production of 1200 heaters in the six months to December 31, 2021.                                                                                       R                                 R Unit selling price                                                                                            160 Less: Direct materials                                                 50            Direct labour                                                    30 Fixed Overheads: Admin                                                                         4.00 Rent                                                                            7.50 Rates…