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- Materials used = $ 500000 Rent for the office is $ 100000 Indirect materials used = $ 515000 Wages to workers are $ 260000 , what will the product cost?Jake's Roof Repair provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Hour Wages and salaries Parts and supplies Equipment depreciation $ 21,200 $ 15.00 $ 7.10 $ 2,770 $ 0.45 Truck operating expenses Rent $ 5,720 $ 1.60 $ 4,640 $ 3,880 $ 0.50 Administrative expenses For example, wages and salaries should be $21,200 plus $15.00 per repair-hour. The company expected to work 2,800 repair-hours in May but actually worked 2,700 repair-hours. The company expects its sales to be $54.00 per repair-hour. Required: Compute the company's activity variances for May. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero variance). Input all amounts as positive values. Revenue Expenses: Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expenses Net…The management of Hamano Corporation would like for you to analyze their repair costs, which are listed below: Machine-Hours Repair Costs April 2,148 $ 33,102 May 2,177 $ 33,120 June 2,134 $ 33,097 July 2,214 $ 33,120 August 2,119 $ 33,030 September 2,230 $ 33,184 October 2,145 $ 33,071 November 2,225 $ 33,157 Management believes that repair cost is a mixed cost that depends on the number of machine-hours. Using the least-squares regression method, the estimates of the variable and fixed components of repair cost would be closest to: Multiple Choice $1.25 per machine-hour plus $30,387 per month $0.80 per machine-hour plus $31,953 per month $0.98 per machine-hour plus $30,978 per month 15.00 per machine-hour plus $33,917 per month
- How do you find the net benefit in this? show the method Relevant Cost Amount Sales Revenue (12000 x $31.50) $378,000 Less: Direct Material (12000 x ($16.40-$4.20)) $146,400 Direct Labor (12000 x $4.50) $54,000 Variable Manufacturing Overhead (12000 x $7.50) (Notes) $90,000 Additional setup costs $8400 Special equipment cost $5800 Net benefit $73,400 Notes: Total manufacturing overhead rate $40 per hour Less: Fixed manufacturing overhead (1500000/60000) $25 per hour Variable manufacturing overhead $15 per hour Required machine hour for one unit is half-hour i.e. $7.5 per unitAccording to the information given in the table below, which of the following is Cost of Production? Raw materials consumed 149500 Wages 107500 52 % of prime cost Factory overhead Administrative expenses 42000 Selling expenses 28000 Select one: O a. 390640 O b. 412300 O C. 422000 O d. 399500Refer to the following data to answer the question: Direct material used Selling costs Indirect labour Administrative costs Depreciation on factory equipment Direct labour Overtime premiums paid Indirect materials The prime costs are: Select one: O a. $142 000. O b. $40 000. O c. $150 000. O d. $190 000. $ 150 000 $ 5.000 $ 7.000 $ $ $ Ent tit. $ $ Eft 10 000 70 000 40 000 20 000 45 000
- 2 Cierra, Inc. manufactures computer chips. Currently, the costs per unit are as follows: Direct materials $1.00 Direct labor 10.00 Variable manufacturing overhead 5.00 Fixed manufacturing overhead 8.00 Total $24.00 Chips Corp., has contacted Cierra with an offer to sell to Cierra 10,000 of the chips for $22.00 per chip. If Cierra accepts the proposal, $50,000 of the fixed overhead will be eliminated. Should Cierra make or buy the chips? Justify your answer with calculations.A company expected its annual overhead costs to be $813200 and machine hours to equal 107000 hours. Actual overhead was $749000, and actual machine hours totalled 98000 hours. How much overhead was over or underapplied? $4200 underapplied O $68400 underapplied O $69000 over-applied O $64400 underappliedPia Manufacturing Company has developed the following overhead cost formulas: (refer to image) Based on these cost formulas. The total overhead cost expected if 200 machine hours are worked is: Cost Formula Depreciation P500 Set up P400 plus PO.20 per machine-hour P50 plus PO.25 per machine-hour PO.40 per machine-hour Lubrication Utilities a. P620 b. P900 c. P170 d. P1,120
- Melinda Corporation estimates its factory overhead based on direct labor hours. Melinda estimates FOH to be $1,750,000 and direct labor hours to be 500,000. Actual information is as follows: Sales Direct Labor Advertising Expense...... Indirect Materials. Direct Materials ************** $1,234,000 432,000 145,000 1,210,000 252,000 Indirect Labor 400,000 Depreciation Expense - Factory 185,000 Direct labor hours........... 510,000 (a) Calculate the predetermined overhead rate and calculate the overhead applied during the year. Show Journal Entry (b) Determine the amount of over- or underapplied overhead and state whether it was under or overapplied. Prepare the journal entry to eliminate the over- or underapplied overhead.Deidoro Company has provided the following data for maintenance cost: Machine hours Maintenance cost Multiple Choice Maintenance cost is a mixed cost with variable and fixed components. The fixed and variable components of maintenance cost are closest to: (Round your intermediate calculations to 2 decimal places.) O O Prior Year 17,100 20,100 $ 29,400 $ 34,200 $29,400 per year; $1.701 per machine hour Current Year $2,040 per year; $1.701 per machine hour $2,040 per year; $1.600 per machine hour $29,400 per year; $1.600 per machine hourI b) Refer to the following data: Direct material used $180 000 Advertising costs $ 5 000 Indirect labour $ 8 000 Rent on corporate office $ 20 000 Depreciation on factory equipment $ 60 000 Direct labour $ 30 000 Factory cleaners wages $ 20 000 Indirect materials $ 35 000 Required (show your workings for each question): Determine each of the following costs: (list the costs under each cost category when calculating the answer). Period costs
