Dart Inc. began operations on January 1, 2019. Dart sells a single product for $10 per unit. During 2019, 50,000 units were produced, and 40,000 units were sold. Costs for 2019 were: Direct materials Direct labor Manufacturing overhead Fixed Portion Variable Portion $0 $2.00 per unit produced $0 $1.50 per unit produced $50,000 $0.75 per unit produced $0.25 per unit sold Selling and administrative expenses $80,000 Under absorption costing the fixed overhead deferred in ending inventory is: a. $10,000. b. $14,000. c. $13,000. d. $9,000.
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- A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000TikTok Electronics manufactures an aluminium fibre tripod model "TRI-X" which sells for $1,600. The production cost computed per unit under traditional costing for each model in 2019 was as follows: Traditional Costing TRIX $700 $120 $228 $1, 048 Direct Materials Direct Labour ($20/hour) Manufacturing overhead ($38 per DLH) Total per unit cost In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRI-X as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, anagement asks TikTok Electronics manag based costing (ABC). The management accountant accumulates the following information about overhead for the year ended December 31, 2019. ent accountant to prepare an analysis using activity- Activity Cost Cost Drivers Estimated Expected Use of Pools Overhead Cost Drivers Purchasing Number of $1,200,000 40,000 orders…TikTokElectronics manufactures an aluminium fibre tripod model“TRI-X” which sells for $1,600.The production cost computed per unit under traditional costing for each model in 2019was as follows: Traditional Costing TRIX Direct Materials $700 Direct Labour($20/hour) $120 Manufacturing overhead($38 per DLH) $228 Total per unit cost $1,048 In 2019, TikTokElectronics manufactured 26,000units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRI-X as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, management asks TikTokElectronics management accountant to prepare an analysis using activity-based costing (ABC). The management accountant accumulates the following information…
- TikTok Electronics manufactures an aluminium fibre tripod model “TRI-X” which sells for $1,600. The production cost computed per unit under traditional costing for each model in 2019 was as follows:Traditional CostingTRIXDirect Materials$700Direct Labour ($20/hour)$120Manufacturing overhead ($38 per DLH)$228Total per unit cost$1, 048In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRI-X as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, management asks TikTok Electronics management accountant to prepare an3analysis using activity-based costing (ABC). The management accountant accumulates the following information about overhead for the year ended December 31, 2019.Activity Cost PoolsCost DriversEstimated OverheadExpected Use of Cost DriversPurchasingNumber of orders$1,200,00040,000Machine setupsNumber of…TikTok Electronics manufactures an aluminium fibre tripod model “TRI-X” which sells for $1,600. The production cost computed per unit under traditional costing for each model in 2019 was as follows:Traditional CostingDirect MaterialsDirect Labour ($20/hour) Manufacturing overhead ($38 per DLH) Total per unit costTRIX$700 $120 $228 $1, 048In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRI- X as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, management asks TikTok Electronics management accountant to prepare an analysis using activity-based costing (ABC). The management accountant accumulates the following information about overhead for the year ended December 31, 2019.Activity Cost Pools PurchasingMachine setupsMachining Quality ControlCost DriversNumber of orders Number of setups Machine hours Number…TikTok Electronics manufactures an aluminium fibre tripod model “TRI-X” which sells for $1,600. The production cost computed per unit under traditional costing for each model in 2019 was as follows: Traditional Costing TRIX Direct Materials $700 Direct Labour ($20/hour) $120 Manufacturing overhead ($38 per DLH) $228 Total per unit cost $1, 048 In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRI- X as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, management asks TikTok Electronics management accountant to prepare an analysis using activity-based costing (ABC). The management accountant accumulates the following information about overhead for the year ended December 31, 2019. Activity Cost Pools Cost Drivers Estimated Overhead…
- TikTok Electronics manufactures an aluminium fibre tripod model “TRI-X” which sells for $1,600. The production cost computed per unit under traditional costing for each model in 2019 was as follows:Traditional Costing TRIXDirect Materials $700Direct Labour ($20/hour) $120Manufacturing overhead ($38 per DLH) $228Total per unit cost $1, 048In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRIX as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, management asks TikTok Electronics management accountant to prepare an activity-based costing (ABC). The management accountant accumulates the following information about overhead for the year ended December 31, 2019.Activity Cost Pools Cost Drivers Estimated Overhead Expected Use of Cost Drivers Purchasing Number of orders $1,200,000 40,000 Machine setups Number of…TikTok Electronics manufactures an aluminium fibre tripod model “TRI-X” which sells for $1,600. The production cost computed per unit under traditional costing for each model in 2019 was as follows: Traditional Costing TRIX Direct Materials $700 Direct Labour ($20/hour) $120 Manufacturing overhead ($38 per DLH) $228 Total per unit cost $1, 048 In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRI- X as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, management asks TikTok Electronics management accountant to prepare ananalysis using activity-based costing (ABC). The management accountant accumulates the following information about overhead for the year ended December 31, 2019. Activity Cost Pools Cost Drivers…TikTok Electronics manufactures an aluminium fibre tripod model “TRI-X” which sells for $1,600. The production cost computed per unit under traditional costing for each model in 2019 was as follows: Traditional costing TRIX Direct Materials $700 Direct Labour ($20/hour) $120 Manufacturing overhead ($38 per DLH) $228 Total per unit cost $1048 In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRI- X as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, management asks TikTok Electronics management accountant to prepare an analysis using activity-based costing (ABC). The management accountant accumulates the following information about overhead for the year ended December 31, 2019. Activity cost pools Cost drivers Estimated overhead Expected use of cost drivers…
- CORP incurred the following cost to produce product X which consisted of 1,000 units in January 2020: Direct materials: Requisition number 101: 400 yards of fabric at P 8 per yard and requisition number 102: 500 cubic feet of stuffing at 3 per cubic foot. Direct labor incurred are as follows: 500 hours was incurred (regular working hours for January is 110 hours per week with regular rate of 24 per hour. Overtime rate premium is 20%. Overtime hours are the result of inefficiency of the company’s machineries). Manufacturing overhead is applied based on direct labor hours at 20 per hour. At the end of January, 300 units of product X were still unsold. What is the cost of goods sold? Answer it quickly, I need it in 20 minutesBroha Company manufactured 1,500 units of its only product during 2019. The inputs for this production are as follows: 450 pounds of Material A at a cost of $1.50 per pound 300 pounds of Material H at a cost of $2.75 per pound 300 direct labor hours at $20 per hour The firm manufactured 1,800 units of the same product in 2018 with the following inputs: 500 pounds of Material A at a cost of $1.20 per pound 360 pounds of Material H at a cost of $2.50 per pound 400 direct labor hours at $18 per hour Round all calculations to 2 significant digits. The total productivity ratio in 2018 is:X Co. Ltd. produces three types of products A, B and C and keeps accounts for Process I, Process II and Process III. Following statements show the relative importance of each type of product in each process : Process I Points Process II Points Process III Points Product A Product B 2 4 2 4 2 1 Product C 8 3 2 Costs for each process for March, 2019 are as follows : Process I Process II $ 9,000 3,000 5,100 Process III $ 9,000 1,800 2,400 Total Materials Labour Overheads 12,000 4,200 3,000 $ 30,000 9,000 10,500 19,200 17,100 13,200 49,500 Production during the period : Product A 600 units ; Product B 300 units ; Product C 900 units. You are required to- (a) prepare a statement showing weighted average production for each process and (b) compute the cost for each type of product.
