The following costs relate to Antonio Industries for the last quarter:Conversion costDirect materialsManufacturing overheadSelling and administrative expenseonio's prime cost for last quarter?Bolooo100005000$75,0002. Antonio's total manufacturing cost isa. P 460,000b. P 645,000C.P 650,000d. P 840,000P 435,000215,000190,000185,000

Introduction: The three phases of the manufacturing process are raw materials, work in progress, and…

Answered: 2. Antonio's total manufacturing cost…

Business

Accounting

2. Antonio's total manufacturing cost is a. P 460,000 P 645,000 b. c. P 650,000 P 840,000 d.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

See similar textbooks

Related questions

Q: The partnership agreement of Thomas, Gise, and Bosco provides for the following income ratio: (a)…

A: Lets understand the basics. Partnership is an agreement between two or more person who works…

Q: Texas Inc. has 10,000 shares of 6%, $125 par value cumulative preferred stock and 50,000 shares of…

A: Preference stock has held the hand of preference shareholders who are getting the preference while…

Q: 120 $7,665,000 3,285,000 10,050,000 1010 8,250,000

A: You have posted multiple-part questions so only the first three sub-parts are answered. If any other…

Q: Larry purchased an annuity from an insurance company that promises to pay him $6,500 per month for…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: Bramble Company just took its physical inventory. The count of inventory items on hand at the…

A: Computation of correct inventory on December 31 Total Inventory cost-$350,000 1. Add Inventory sent…

Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…

A: Production Budgeting is a type of financial planning that refers to the number of units of goods…

Q: Apparel Leasing Company signs a lease agreement on January 1, 2021, to lease equipment to Oman…

A: Lease Receivable: It is the present value of lease receipts expected during the duration of lease…

Q: Cash $371 Accounts Payable $268 Accounts Receivable $429 Expenses $100 What is the amount of total…

A: Introduction: Trial Balance: All the final ledger accounts balances are posted in Trial balance to…

Q: The following selected transactions were completed during July of the current year: 1. Billed…

A: Introduction: Journals: Recording of a Business transactions in a chronological order. Each and…

Q: Furniture Rental Item Sofa (1) Office Chair (6) Conference Table (1) A. $1,236.00 C. $1,143.12…

A: Introduction: The sum of a company's fixed and variable expenditures is the overall cost of the…

Q: Distance, in miles 0-200 201-400 401-600 601-800 801-1000 Price per 100 lbs $100 $120 $200 $240 $400…

A: The expenses incurred during the period are recorded in the income statement for the current period.…

Q: _____________ What type of income is Ramona’s $2,450 monthly take-home amount after taxes?a.…

A: The type of income Ramona’s $2,450.

Q: A small gift shop has a beginning inventory that is valued at $8,700. If the additional inventory…

A: Cost of goods sold (COGS) : Cost of goods sold means the expenses incurred for the producing of the…

Q: (Ignore income taxes in this problem.) Sam Corporation is investigating automating a process by…

A: The simple rate of return on investment is the amount of return (profit) expected from an…

Q: Given the building layout for Store A, Store B, Store C, and Store D, what portion of the shared…

A: Cost allocation is a course of giving help to shared assistance association's expense places that…

Q: Power Company manufactures a variety of drill bits. The company's plant is partially automated. The…

A: ABC method allocates overhead based on the relevant activity. It does not use a single overhead…

Q: Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 70,000…

A: The dividend is declared and paid from the retained earnings of the business. The dividend per share…

Q: Stark company has the following adjusted accounts and normal balances at its December 31 year-end. $…

A: The financial statements are prepared by the business entity to show the performance of the…

Q: 21 2022 2023 Cost incurred during the year $ 2,100,000 $ 2,450,000 $ 2,695,000 Estimated costs…

A: Gross profit refers to a company's earnings after deducting the costs of producing and selling its…

Q: Determine Austin's basic and diluted EPS. (Round your intermediate percentage value to 1 decimal…

A: EPS termed as Earnings per share which is defined as the figure that states the profit per share…

Q: Exercise 12-8 Part 2 2a. Compute the simple rate of return promised by the games. 2b. If the company…

A: When a company makes an investment decision a proper evaluation must be done before investing. The…

Q: ping a Gift food service for students. Market research has indicated that customers would be willing…

A: Variable cost refers to the expenses which change with the change in the level of output of a…

Q: Juicy Ltd. is a fruit juice manufacturer that uses a standard costing system and flexible budget for…

A: Here we need to find out Direct Material price and Usage variance , Variable overhead Spending and…

Q: ue 100 units Dec 8. Issue 80 units

A: Since there are multiple questions, we will answer only first question.

Q: Account Balances a. During February, $94,830 was paid to creditors on account, and purchases on…

A: The ending balance of accounts payable can be calculated by adding up purchases on account and…

Q: £

A: Introduction : Variance on context of standard costing means the difference between standard cost…

Q: On December 1, 2019, an advance rent payment of $14,400, representing a three-month prepayment for…

A: Explanation of Concept Rent received in advance is treated as current liabilities and shall be…

Q: 1) The profits of the last five years were: OMR 32,500, OMR 25,500, OMR 32,000, OMR 15,525 (Loss)…

A: Introduction: Goodwill: Goodwill is an intangible asset. To be shown in Balance sheet , asset item.

Q: Show Work.

A: In this question, we have to calculate the trade discount Trade discount refers the discount which…

Q: The Boxwood Company sells blankets for $38 each. The following was taken from the inventory records…

A: The LIFO method assumes that the goods purchased last will be sold out first, and hence the cost per…

Q: Salaries and wages payable Salaries and wages expense Utilities expense Equipment Accounts payable…

A: Income statement is prepared by the business organizations so as to know how much amount of Gross…

Q: Empl Hrs OT Rate Gross FIT FICA 0010 40 5 $12 $570 $57 $43.61 $15 $5 0011 40 0 $16 $640 $64 $48.96…

A: Federal Insurance Contributions Act: The Federal Insurance Contributions Act is a United States…

Q: What is the difference between an exchange and a nonexchange transaction?

A: A transaction is considered to be an exchange when both parties provide and receive consideration of…

Q: 108,000 units next year. J

A: Given: Selling price 654.00 Direct materials 216.00 Direct labour 108.00 Production overhead 54.00…

Q: The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct…

A: Introduction: Prime costs: Sum of both direct materials and direct labor cost derives the prime…

Q: Post the transaction activity from requirement 1 to the T-Accounts below All accounts begin with…

A: Preparation of T-Accounts Cash A/c Particulars Amount ($) Particulars Amount ($) To capital…

Q: Prepare the Branch stock account and total Debtors account for the year ended 28th February 1997, as…

A: Stocks & Debtors Accounting System- This method of Accounting is used when there are large…

Q: On December 31, 2021, Alan and Company prepared an income statement and balance sheet but failed to…

A: Adjusting entries are passed at the end of the reporting period to record the accrual of incomes,…

Q: Accounts Bank Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies…

A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred…

Q: 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Le Sserafim Industries sells merchandise to dealers on a consignment basis. Shipping costs are…

Q: Smith Corporation has provided the following information: Cash sales totaled $143,000. Credit sales…

A: Operating revenue includes cash sales and credit sales. It does not include interest income because…

Q: O'Shaughnessy Inc. sells a product for $90 per unit. The variable cost is $65 per unit, while fixed…

A: Introduction: Break even point in units: It tells the level where there is no profit nor loss to the…

Q: Amazon Industries utilizes a process costing system with just one processing department. The…

A: Computation of cost of units completed and transferred( Using FIFO Method): Cost of units…

Q: 44. An employee earns $32 per hour. She worked 53 hours the third week of January. Calculate the net…

A: CALCULATION OF NET PAY GROSS PAY ($32*53 Hours) $ 1696.00 Less Federal Income Tax @ 20% ($…

Q: ) In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa…

A: BS termed as Balance sheet which is one of vital financial statements of the business as this states…

Q: Watts and Lyon are torming a partnership. Watts invests $40,500 and Lyon invests $49,500. The…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: Parekoy Company acquires 150,000 of the 1,000,000 Marekoy Company’s common stock for P500,000 cash…

A: Under the full goodwill method, the goodwill is calculated by using the fair value of…

Q: Item 1. Evaporated Milk 2. Sugar 3. Ingredient Cost (IC= 1+2) 4. Processing Cost (PC = 20% of IC )…

A: Notes to Answer: Evaporated Milk = Given 1 Can = 54.00 / can Sugar = 1/2 cup = 65.00 per cup =…

Q: Prepare a partial income statement, beginning with income before income taxes.

A: The income statement is one of the financial statements of the business entity. It reports…

Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

The following costs relate to Antonio Industries for the last quarter:
Conversion cost
Direct materials
Manufacturing overhead
Selling and administrative expense
onio's prime cost for last quarter?
Bolooo
1000
05000
$75,000
2. Antonio's total manufacturing cost is
a. P 460,000
b. P 645,000
C.
P 650,000
d. P 840,000
P 435,000
215,000
190,000
185,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases. a. Direct material cost per unit. b. Fees for using a patent of $500,000 plus $0.25 for each unit produced. c. Salary of quality control supervisor. d. Straight-line depreciation per unit on factory equipment. e. Total direct materials cost.
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials, $17,000; direct labor, $33,000; and manufacturing overhead, $70,000? A. $16,000 B. $50,000 C. $103,000 D. $120000
The expected costs for the Maintenance Department of Stazler, Inc., for the coming year include: Fixed costs (salaries, tools): 64,900 per year Variable costs (supplies): 1.35 per maintenance hour Estimated usage by: Actual usage by: Required: 1. Calculate a single charging rate for the Maintenance Department. 2. Use this rate to assign the costs of the Maintenance Department to the user departments based on actual usage. Calculate the total amount charged for maintenance for the year. 3. What if the Assembly Department used 4,000 maintenance hours in the year? How much would have been charged out to the three departments?
How would each of the following costs be classified if units produced is the activity base? a. Salary of factory supervisor ($120,000 per year) b. Straight-line depreciation of plant and equipment c. Property rent of $11,500 per month on plant and equipment
Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases: A. Total direct materials cost B. Electricity costs of 1,000 per month plus 0.10 per kilowatt-hour C. Per-unit cost of straight-line depreciation on factory equipment D. Salary of quality control supervisor, 20,000 per month E. Per-unit direct labor cost
The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense 1. What is Antonio's prime cost for last quarter? a. P 460,000 b. P 410,000 c. P 405,000 d. P 375,000 P 435,000 215,000 190,000 185,000
The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense P 435,000 215,000 190,000 185,000 1. What is Antonio's prime cost for last quarter? a. P460,000 b. P410,000 c. P405,000 d. P 375,000 2. Antonio's total manufacturing cost is a. P460,000 b. P 645,000 . P 650,000 d. P 840,000
The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense P 435,000 215,000 190,000 185,000 1. What is Antonio's prime cost for last quarter? a. P460,000 b. P 410,000 c. P 405,000 d. P375,000 2. Antonio's total manufacturing cost is P 460,000 b. P 645,000 P 650,000 d. a. C. P 840,000 3. Antonio's total period cost is P 185,000 b. a. P 275,000 P 400,000 d. с. P 620,000
8. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL PERIOD COSTS?