Please do not give solution in image format thanku 1Required informationUse the following information for the Exercise below. (Algo)[The following information applies to the questions displayed below.]Trio Company reports the following information for its first year of operations.Direct materialsDirect laborVariable overheadFixed overheadUnits producedUnits soldEnding finished goods inventory$ 13 per unit$17 per unit$4 per unit$ 326,400 per year20,400 units17,000 units3,400 unitsExercise 19-1 (Algo) Computing unit and inventory costs under absorption costing LO P11. Compute the product cost per unit using absorption costing2. Determine the cost of ending finished goods inventory using absorption costing.3. Determine the cost of goods sold using absorption costing. Required 1 Required 2Compute the product cost per unit using absorption costing.Product cost per unit of finished goods using:Product cost per unitRequired 31Complete this question by entering your answers in the tabs below.Required 1Required 2 Required 3Determine the cost of ending finished goods inventory using absorption costing.Absorption costingCost per unit of finished goods using:Product cost per unitNumber of units in finished goodsCost of ending finished goods inventoryRequired 1Required 2Absorption costing1. Compute the product cost per unit using absorption costing.2. Determine the cost of ending finished goods inventory using absorption costing3. Determine the cost of goods sold using absorption costingComplete this question by entering your answers in the tabs below.< Required 1Required 3Determine the cost of goods sold using absorption costing.Cost per unit of goods sold usingProduct cost per unitNumber of units soldCost of sold goodsAbsorption costing

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Description: Please do not give solution in image format thanku 1Required informationUse the following information for the Exercise below. (Algo)[The following information applies to the questions displayed below.]Trio Company reports the following information fo

Using absorption costing, the product cost comprises both variable and fixed manufacturing overhead…

Business

Accounting

Required information Use the following information for the Exercise below. (Algo) [The following information applies to the questions displayed below] Trio Company reports the following information for its first year of operations. Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $ 13 per unit $17 per unit $4 per unit $ 326,400 per year 20,400 units 17,000 units 3,400 units Exercise 19-1 (Algo) Computing unit and inventory costs under absorption costing LO P1 1. Compute the product cost per unit using absorption costing 2. Determine the cost of ending finished goods inventory using absorption costing 3. Determine the cost of goods sold using absorption costing

Required information Use the following information for the Exercise below. (Algo) [The following information applies to the questions displayed below] Trio Company reports the following information for its first year of operations. Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $ 13 per unit $17 per unit $4 per unit $ 326,400 per year 20,400 units 17,000 units 3,400 units Exercise 19-1 (Algo) Computing unit and inventory costs under absorption costing LO P1 1. Compute the product cost per unit using absorption costing 2. Determine the cost of ending finished goods inventory using absorption costing 3. Determine the cost of goods sold using absorption costing

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 6E: The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000...

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SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 20,500 Materials inventory, January 1 11,000 Materials purchases 12,000 Materials inventory, December 31 13,000 Direct labor 9,500 Overhead 5,500 Work in process, December 31 10,500
The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000 units one-half completed at a cost of 1,250 for materials, 675 for labor, and 950 for overhead. Production costs for the monthmaterials, 99,150; labor, 54,925; factory overhead, 75,050. Units completed and transferred to stock38,500. Work in process, end of month3,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost.
View Policies Current Attempt in Progress The following T-accounts record the operations of Bonita Co.: Beginning Balance Ending Balance Beginning Balance Direct Material Direct Labor Overhead Ending Balance Beginning Balance COGM Ending Balance Direct Materials 29,000 17,000 ? Work in Process 37,000 165,000 28,000 44,000 ? Finished Goods 15,000 Direct materials purchased ? ? Costs of goods manufactured 244,000 (a) Calculate the amount of direct materials purchased during the period. 644,000 COGS $ ? (b) Calculate the cost of goods manufactured during the period. LA $
QuestionQ# 1: Accounting for Manufacturing Concern The following data from the just completed year are taken from the accounting records of KentonCompany:Sales $ 975,000Direct labor cost $ 165,000Raw material purchases $ 229,000Selling expense $ 48,750Administrative expenses $ 146,250Manufacturing overhead applied to work in process $ 180,000Actual manufacturing overhead costs $ 175,050Inventories: Beginning EndingRaw materials $ 18,000 $ 17,500Work in process $ 20,000 $ 14,750Finished goods $ 9,000 $ 11,000Required:1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in productionwere direct materials.2. Prepare a schedule of cost of goods sold. Assume that the company’s underapplied or overappliedoverhead is closed to Cost of Goods Sold.3. Prepare an income statement
Exercise 14-4 (Algo) Classifying costs for a service company LO C2 Listed below are costs of services provided by an airline company. Consider the cost object to be a flight. Flight attendants and pilots are paid based on hours of flight time. Classify each cost as direct, indirect, selling, or general and administrative. Cost Classification 1. Accounting manager salary 2. Depreciation (straight-line) on plane 3. Fuel used for plane flight 4. Flight attendant wages for flight 5. Pilot wages for flight 6. Aircraft maintenance manager salary 7. Snacks served on airplanes 8. Maintenance on airplanes EIndirect Mc Graw < Pry 9 of 10 Type here to search Next
Required information Use the following information for the Exercises below. (Algo) Skip to question [The following information applies to the questions displayed below.] Note: Assume all raw materials were used as direct materials. Beginning of Year End of Year Inventories Raw materials inventory $ 6,300 $ 8,100 Work in process inventory 12, 600 9,300 Finished goods inventory 9, 100 5,800 Activity during current year Raw materials purchased $ 124,100 Direct labor 94,300 Factory overhead 39,900 QS 14-17 (Algo) Schedule of cost of goods manufactured LO P2 Factory overhead of $39,900 consists of Indirect labor of $20,300, Depreciation expense-Factory of $15,300, and Factory utilities of $4,300. Compute total manufacturing costs. Prepare a schedule of cost of goods manufactured.
S Activity Cost Pool Labor-related Purchase orders Product testing Template etching General factory Activity Cost Pool Labor-related (DLHS) Activity Measure Direct labor-hours Number of orders Number of tests Number of templates Machine-hours Product A Product B Product C Product D Cost $ 19,250 $ 1,820 $ 6,320 $ 960 $ 68,600 Total Overhead Cost 2. The expected activity for the year was distributed among the company's four products as follows: Expected Activity 1,375 DLHS Expected Activity Product A Product B Product C Product D 300 650 125 300 20 65 180 190 Purchase orders (orders) Product testing (tests) 65 0 80 Template etching (templates) 250 0 26 10 4 General factory (MHs) 3,800 2,000 1,200 2,800 Using the ABC data, determine the total amount of overhead cost assigned to each product. 455 orders 395 tests 40 templates S 9,800 MHs
Accounting for Manufacturing Concern The following data from the just completed year are taken from the accounting records of Kenton Company:Sales$ 975,000Direct labor cost $ Selling expense $ Manufacturing overhead applied to work in process $Inventories:Work in process $165,000 48,750 180,000Beginning 20,000 $Ending 14,750Raw material purchases$ 229,000Administrative expenses$ 146,250Actual manufacturing overhead costs$ 175,050Raw materials$ 18,000$ 17,500Finished goods$ 9,000$ 11,000Required:1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.2. Prepare a schedule of cost of goods sold. Assume that the company’s underapplied or overapplied overhead is closed to Cost of Goods Sold.3. Prepare an income statement.
ssume the following information: Milling Department Materials Conversion Total Cost of beginning work in process inventory $ 10,000 $ 15,000 $ 25,000 Costs added during the period 291,600 394,500 686,100 Total cost $ 301,600 $ 409,500 $ 711,100 Assume the equivalent units of production for materials and conversion, when using the weighted-average method, are 5,200 units and 5,000 units, respectively. If the equivalent units in ending work in process inventory for materials and conversion are 400 units and 200 units, respectively, then what is the total cost of ending work in process for the Milling Department?
Required information Heidelberg Fabrication manufactures two products, G-09 and G-35: Units produced Direct materials cost per unit Machine-hours per unit Production runs per quarter Machine depreciation Setup labor Materials handling Total Required: Production at the plant is automated and any labor cost is included in overhead. Data on manufacturing overhead at the plant follow: G-09 19,900 $ 7 4 144 a. Overhead rate b. Machine depreciation b. Setup labor b. Materials handling G-35 3,980 $19 $ 107,460 53, 730 42,984 $ 204,174 a. Heidelberg currently applies overhead on the basis of machine-hours. What is the predetermined overhead rate for the quarter? Note: Round your answer to 2 decimal places. b. Heidelberg is thinking of adopting an ABC system. They have tentatively chosen the following cost drivers: machine-hours for machine depreciation, production runs for setup labor, and direct material dollars for materials handling. Compute the cost driver rates for the proposed system at…
sub-part 4 to be answered equired information[The following information applies to the questions displayedbelow.]Silver Company manufactures kites and has the followinginformation available for the month of April:Work in process, April 1(100% complete for materials, 40% for conversion) 58,000 unitsDirect materials $ 86,000Conversion cost $ 116,000Number of units started 164,000 unitsApril costsDirect materials $ 232,000Conversion cost $ 342,000Work in process, April 30(100% complete for materials, 20% for conversion) 83,000 units!Required:Using the FIFO method, complete each of the following steps:1. Reconcile the number of physical units worked on during the period.2. Calculate the number of equivalent units.3. Calculate the cost per equivalent unit.4. Reconcile the total cost of work in process. Complete this question by entering your answers in the tabs below.Reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 dto the nearest whole dollar…
Activity Cost Pool Activity Measure Estimated Overhead Cost Machining 24 378,000 Machine-hours HR Supporting direct labour %24 Direct labor-hours 238,800 Machine setups 24 Number of setups 93,100 Number of product lines Product-sustaining $4 90,000 Total %24 799,900 The expected activity for the year was distributed among the company's two product lines as follows: Activity Measure Product A Product B Machine-hours 7900 6100 Direct labor-hours 7900 4100 Number of setups 40 150 Number of product lines 1 1 Required: 1. Based on the data of four cost pools and activity measures, compute the activity rate for each activity cost pool: a. What is the activity rate for the Machining activity cost pool? Round to nearest dollar Activity rate: $ per machine-hour b. What is the activity rate for the Supporting Direct Labour activity cost pool? Round to nearest dollar Activity rate: $ per direct labour-hour