COVID 19 Co has provided the following data from its activity-based costing system: Activity Cost Pool Total Cost Total Activity Assembly $1.443.140 59.000 machine-hours Processing orders $80.905 2.750 orders Inspection $145.733 1,910 inspection-hours The company makes 890 units of product YB a year, requiring a total of 2.070 machine-hours, 41 orders, and 35 inspection-hours per year The product's direct materials costis $56.46 per unit and its direct labor cost is $22.67 per unit. The product sells for $145 50 per unit According to the activity-based costing system, the product margin for product YB is (Round your intermediate calculations and final answers to 2 decimal places.) Select one 2 a 54.560.38 b $7.230.38 C. $6.340.38 d. $5.450 38

COVID 19 Co has provided the following data from its activity-based costing system: Activity Cost Pool Total Cost Total Activity Assembly $1.443.140 59.000 machine-hours Processing orders $80.905 2.750 orders Inspection $145.733 1,910 inspection-hours The company makes 890 units of product YB a year, requiring a total of 2.070 machine-hours, 41 orders, and 35 inspection-hours per year The product's direct materials costis $56.46 per unit and its direct labor cost is $22.67 per unit. The product sells for $145 50 per unit According to the activity-based costing system, the product margin for product YB is (Round your intermediate calculations and final answers to 2 decimal places.) Select one 2 a 54.560.38 b $7.230.38 C. $6.340.38 d. $5.450 38

Name: COVID 19 Co has provided the following data from its activity-based c
Uploaded: 2024-03-20T06:32:49.000Z
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Description: COVID 19 Co has provided the following data from its activity-based costing system:Activity Cost PoolTotal CostTotal ActivityAssembly$1.443.14059.000 machine-hoursProcessing orders$80.9052.750 ordersInspection$145.7331,910 inspection-hoursThe compan

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Kingsport Containers Company makes a single product that is subject to wide seasonal variations in demand. The company uses a job-order costing system and computes plantwide predetermined overhead rates on a quarterly basis using the number of units to be produced as the allocation base. Its estimated costs, by quarter, for the coming year are given below: Quarter First Second Third Fourth Direct materials $ 320,000 $ 160,000 $ 80,000 $ 240,000 Direct labor 80,000 40,000 20,000 60,000 Manufacturing overhead 230,000 206,000 194,000 ? Total manufacturing costs (a) $ 630,000 $ 406,000 $ 294,000 $ ? Number of units to be produced (b) 80,000 40,000 20,000 60,000 Estimated unit product cost (a) ÷ (b) $ 7.88 $ 10.15 $ 14.70 $ ? Management finds the variation in quarterly unit product costs to be confusing and difficult to work with. It has been suggested that the problem lies with…
Silven Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity $138,000 Number of setups 10,200 Number of orders 92,400 Machine hours 18,480 Receiving hours phones with the following expected activity demands: Setting up equipment Ordering materials Machining Receiving Silven produces two models of cell Model X 5,000 80 200 6,600 385 Units completed Number of setups Number of orders Machine hours Receiving hours Required: Model Y 10,000 40 400 4,950 770 120 600 11,550 1,155
O&G Company manufactures console tables and uses an activity-based costing system to allocate all manufacturing conversion costs. Each console table consists of 40 separate parts totaling $250 in direct materials and requires 5.0 hours of machine time to produce. Additional information follows: Activity Materials handling Allocation Base Number of parts Machine hours Number of parts Number of finished units Machining Assembling Packaging What is the number of finished console tables? OA 200 OB. 467 OC. 25 OD. Cannot be determined from the information given Cost Allocation Rate $3.00 per part $4.80 per machine hour $1.00 per part $4.00 per finished unit
COVID 19 Co has provided the following data from its activity-based costing system: Activity Cost Pool Total Cost Total Activity Assembly $1,443,140 59.000 machine-hours Processing orders $ 80,905 2,750 orders Inspection $145.733 1,910 inspection-hours The company makes 890 units of product YBa year, requiring a total of 2,070 machine-hours, 41 orders, and 35 inspection-hours per year. The product's direct materials cost is $56.46 per unit and its direct labor cost is $22.67 per unit The product sells for $148.50 per unit According to the activity-based costing system, the product margin for product YB is: (Round your intermediate calculations and final answers to 2 decimal places.) Select one: a $4.560.38 b $5.450.38 C $7.230 38 d. $6.340.38
Table 2Activity Cost Pool Total Cost Total ActivityAssembly $ 1,114,920 57,000 machine-hoursProcessing orders $ 47,016 1,800 ordersInspection $ 107,328 1,560 inspection-hours Use Table 2 to answer this question. XYZ Corporation has provided the following data from its activity-based costing system (Table 2). The company makes 430 units of product ABA a year, requiring a total of 1,120 machine-hours, 35 orders, and 40 inspection-hours per year. The product's direct materials cost is $49.81 per unit and its direct labor cost is $12.34 per unit. The product sells for $130 per unit. According to the activity-based costing system, the product margin for product ABA is: Select one: a. $4,290.10. b. $3,815.50. c. none of the given answer. d. $4,159.50. e. $3,602.10.
Kingsport Containers Company makes a single product that is subject to wide seasonal variations in demand. The company uses a job-order costing system and computes plantwide predetermined overhead rates on a quarterly basis using the number of units to be produced as the allocation base. Its estimated costs, by quarter, for the coming year are given below: Quarter First Second Third Fourth Direct materials $ 320,000 $ 160,000 $ 80,000 $ 240,000 Direct labor 120,000 60,000 30,000 90,000 Manufacturing overhead 230,000 206,000 194,000 ? Total manufacturing costs (a) $ 670,000 $ 426,000 $ 304,000 $ ? Number of units to be produced (b) 160,000 80,000 40,000 120,000 Estimated unit product cost (a) ÷ (b) $ 4.19 $ 5.33 $ 7.60 $ ? Management finds the variation in quarterly unit product costs to be confusing. It has been suggested that the problem lies with manufacturing overhead because it is…
Saktanmokobaybeh Company uses standard costing for direct materials and direct labor. The following monthly cost functions were developed for manufacturing overhead items: Budgeted Overhead Item Cost Function: Indirect materials P 1.00 per DLH Indirect labor 1.25 per DLH Utilities 0.50 per DLH Insurance 50,000 Depreciation 400,000 The cost functions were determined using observations from 20,000 to 30,000 direct labor hours. The company expects to operate at 25,000 direct labor hours per month. The theoretical capacity per month of the company is 30,000 units. Each unit requires 2 direct labor hours. The Company applies overhead using direct labor hours. Actual data for this month are as follows: Variable overhead costs P 87,000 Fixed overhead costs 423,000 Direct labor hours 26,000 P
Requlred Information Greenwood Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z Estimated Overhead Cost $ 242,400 $114,400 86,000 $ 302,400 Expected Activity Cost Pool Machining Machine setups Production design General factory Activity Measure Machine-hours Number of setups Number of products Direct labor-hours 12,000 MHs 220 setups 2 products 12,000 DLHS Activity Measure Machining, Number of setups Number of products Direct labor-hours Product Y 8,200 40 1. 8,200 Product Z 3,800 180 1. 3,800 Required: 1. What is the company's plantwide overhead rate? (Round your enswer to 2 declmal places.) Predetermined overhead rate, per DLH of 15 甜…
Genious Corporation implemented activity-based costing several years ago and uses it for its external financial reports. The company has four activity cost pools, which are listed below. Activity Cost Pool Activity Measure Estimated Overhead Cost Machine related Machine Hours $90,000 Purchase orders Number of orders $126,000 Machine setups Number of Setups $200,000 General factory Number of labor hrs $60,000 Expected Activity 5,000 Mhs 2,800 orders 10,000 setups 4,000 Dlhs Manufacturing overhead cost was applied to production. Actual activity during the year was as follows: Activity Cost Pool Machine related Purchase orders Machine setups General factory Actual Activity 10,500 Mhs 800 orders 1,500 setups 8,000 Dlhs It is expected that the company will produce 62,500 units. Compute the activity rate for each activity. Compute the per unit cost for overhead
Deoro Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity Setting up equipment Number of setups Ordering costs Number of orders Machine costs Receiving Direct materials Direct labor Deoro produces two models of dishwashers with the following expected prime costs and activity demands: Model A Units completed Direct labor hours Number of setups Number of orders $627,000 481,000 16,200 6,400 370 5,800 24,900 3,700 The company's normal activity is 7,900 direct labor hours. Machine hours Receiving hours Required: Model A Model B $482,510 372,000 864,000 410,000 Receiving hours Model A Machine hours $ del B Model B Unit Cost $836,000 497,000 8,500 1,500 240 1. Determine the unit cost for each model using direct labor hours to apply overhead. Round intermediate calculations and final answers to nearest cent. 12,800 18,300 6,300 610 18,600 43,200 10,000 2. Determine the unit cost for…
Paparo Corporation has provided the following data from its activity-based costing system: Activity Cost Pool Total Cost $ 888,300 Assembly Processing orders $ 60,560 Inspection $ 101,572 Data concerning the company's product Q79Y appear below: Annual unit production and sales Annual machine-hours Annual number of orders Annual inspection hours Direct materials cost Direct labor cost Multiple Choice Total Activity 54,000 machine-hours 1,600 orders: 1,340 inspection-hours O $144.43 per unit 600 1,040 70 45 According to the activity-based costing system, the average cost of product Q79Y is closest to: (Round your intermediate calculations to 2 decimal places.) $49.00 per unit $ 41.13 per unit