Mon Inc., a furniture manufacturer, incurred the following costs last month. ($ in thousands of dollars) Assembly workers' wages 1,470 60 Depreciation on marketing offices 400 Depreciation on manufacturing equipment 2600 Wood, cushions and fabric 200 Manufacturing janitors' wages 60 Equipment glue- Indirect material Factory utilities 360 130 Factory supervisors' salaries 100 Insurance on corporate offices 260 Delivery costs Answer the following questions. NO COMMAS, NO S 1. The total direct costs are: 2. The total product costs are: 3. The total period costs are:
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- MRW Co. manufactures office furniture. During the most productive month of the year 3,500 desks were manufactured at a total cost of $84,400. In its slowest month of the year, the business made 1,100 desks at a cost of $46,000. What amount are the fixed costs, using the high-low method of cost estimation? O $5,600.00 O $17,600.00 O $28.400.00 O cannot be determined from the data givenHicks Contracting collects and analyzes cost data in order to track the cost of installing decks on new home construction jobs. The following are some of the costs that they incur. Classify these costs as fixed or variable costs and as product or period costs. Lumber used to construct decks ($12.00 per square foot) Carpenter labor used to construct decks ($10 per hour) Construction supervisor salary ($45,000 per year) Depreciation on tools and equipment ($6,000 per year) Selling and administrative expenses ($35,000 per year) Rent on corporate office space ($34,000 per year) Nails, glue, and other materials required to construct deck (varies per job)Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. Wood used to produce desks ($125,00 per desk) Production labor used to produce desks ($15 per hour) Production supervisor salary ($45,000 per year) Depreciation on factory equipment ($60,000 per year) Selling and administrative expenses ($45,000 per year) Rent on corporate office ($44,000 per year) Nails, glue, and other materials required to produce desks (varies per desk) Utilities expenses for production facility Sales staff commission (5% of gross sales)
- SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its total annual overhead costs can be represented by the following formula: Overhead cost = 543,000 + 1.34X, where X equals number of smokers. Last year, SmokeCity produced 20,000 smokers. Actual overhead costs for the year were as expected. Required: 1. What is the driver for the overhead activity? 2. What is the total overhead cost incurred by SmokeCity last year? 3. What is the total fixed overhead cost incurred by SmokeCity last year? 4. What is the total variable overhead cost incurred by SmokeCity last year? 5. What is the overhead cost per unit produced? 6. What is the fixed overhead cost per unit? 7. What is the variable overhead cost per unit? 8. Recalculate Requirements 5, 6, and 7 for the following levels of production: (a) 19,500 units and (b) 21,600 units. (Round your answers to the nearest cent.) Explain this outcome.Smelly Cat Shoe Spray Company sells air freshener for running shoes. During June, they ran production machines for 25,000 hours total and incurred $15,000 in maintenance costs. During July they ran production machines for 13,000 hours total and incurred $9,000 in maintenance costs. Based on this data, what is the cost formula for maintenance costs? y = $2.00 X + $6,500 Cannot determine from the information given. y = $0.50 X + $2,500 y = $0.48 X + $2,760Ethan Manufacturing Inc. produces floor mats for automobiles. The owner, Joseph Ethan, has asked you to assist in estimating maintenance costs. Together, you and Joseph determine that the single best cost driver for maintenance costs is machine hours. These data are from the previous fiscal year for maintenance costs and machine hours: Month 1 2345 67 000 8 9 10 11 12 Maintenance Costs $ 2,740 2,900 3,050 3,160 3,240 3,210 3,150 2,990 2,760 2,360 2,370 2,590 Machine Hours 1,830 1,910 1,990 2,010 2,040 2,020 2,000 1,980 1,840 Required 1 Required 2 1,240 1,440 1,730 Required: 1. What is the cost equation for maintenance costs using the high-low method? 2. Calculate the mean absolute percentage error (MAPE) for the cost equation you developed in requirement 1. Complete this question by entering your answers in the tabs below. Calculate the mean absolute percentage error (MAPE) for the cost equation you developed in requirement 1. (Do not round intermediate calculations, with the exception…
- Identify the type of cost with reference to marginal costing principles: 1.A company had paid P100,000 to a marketing research company to find expected demand of the newly developed product of the company 2.A company has invested P45,00,000 in a project. The company could have earned 6,00,000 by investing the amount in proper government securities. 3.Accountant of a cloth factory paid P115,000 for water which has been used for washing the clothes.Randall Company manufactures chocolate bars. The following were among Randall's manufacturing costs during the current year: Wages: Machine operators Selling and administrative personnel Materials used: Lubricant for oiling machinery Cocoa, sugar, and other raw materials Packaging materials Randall's direct labor costs amounted to: Multiple Choice O $230,000 $316,000 $161,000 $298.000 $ 230,000 $ 68,000 $ 18,000 $ 180,000 $ 120,000E1.8 (LO 2), AP Evilene Company makes industrial-grade brooms. It incurs the following costs. 1. Salaries for broom inspectors. 2. Copy machine maintenance at corporate headquarters. 3. Hourly wages for assembly workers. 4. Research and development for new broom types. 5. Salary for factory manager. 6. Depreciation on broom-assembly equipment. 7. Salary for the CEO administrative assistant. 8. Wood for handles. 9. Factory cleaning supplies. 10. Lubricants for broom-assembly factory equipment. 11. Salaries for customer service representatives. 12. Salaries for factory maintenance crew. 13. Sales team golf outings with customers. 14. Salaries for the raw materials receiving department employees. 15. Advertising expenses. 16. Depreciation on the CFO company car. 17. Straw for brooms. 18. Salaries for sales personnel. 19. Shipping costs to customers. Instructions a. Indicate whether each cost is direct materials, direct labor, manufacturing overhead, or nonmanufacturing. b. Indicate…
- The following data is from Star Production Systems: Activity Activity Cost Correcting invoice errors $10,000 Disposing of poor-quality incoming materials. 15,000 Disposing of scrap 28,000 Final inspections 25,000 Responding to customer complaints 15,000 Inspecting incoming materials 17,500 Preventative machine maintenance 15,000 Warranty work 25,000 As a recent business graduate (with a special love for accounting), Star Production has asked you to analyze their activity costs and make recommendations for improvement. Using the data above, create a Cost of Quality Report and suggest activity areas that should be investigated further by the company.…ABD Co. manufactures textiles. ABD's manufacturing costs last year included the following salaries and wages: Loom (a machine for making mathfrak ric) operators = PhP6,000,000 Factory foremen = PhP2,250,000 Machinery repairmen = PhP1,500,000 What is the amount of direct labor included in the list above? Show the solution.help me