Deadwood Manufacturing bought three used machines in a $167,000 lump-sum purchase. An independent appraiser valued the machines as shown: (Click on the icon to view the appraised values.) Read the requirement. What is each machine's individual cost? (Round decimals to three places when calculating proportions, and use your computed percentages in all calculations.) Machine 1's cost is Data table - X Requirement 1. What is each machine's individual cost? Immediately after making I

Deadwood Manufacturing bought three used machines in a $167,000 lump-sum purchase. An independent appraiser valued the machines as shown: (Click on the icon to view the appraised values.) Read the requirement. What is each machine's individual cost? (Round decimals to three places when calculating proportions, and use your computed percentages in all calculations.) Machine 1's cost is Data table - X Requirement 1. What is each machine's individual cost? Immediately after making I

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 2.3C

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Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000 $7,900 $135,000 12,000 shelves 144,000 14,800 135,000 24,000 shelves 288,000 28,600 135,000 30,000 shelves 360,000 35,500 135,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit)…
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 12,000 shelves $144,000 $14,800 $130,000 24,000 shelves 288,000 28,600 130,000 48,000 shelves 576,000 56,200 130,000 60,000 shelves 720,000 70,000 130,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Variable Cost Utilities Mixed Cost Depreciation Fixed Cost 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round…
Oficina Bonita Company manufactures office furniture. An unfinished desk is produced for $34.75 and sold for $65.75. A finished desk can be sold for $75.50. The additional processing cost to complete the finished desk is $6.45. Prepare a differential analysis. Round your answers to two decimal places. Line Item Description Sell UnfinishedDesks(Alternative 1) Process Further intoFinished Desks(Alternative 2) DifferentialEffects(Alternative 2) Revenues per desk $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Costs per desk fill in the blank 4 fill in the blank 5 fill in the blank 6 Profit (loss) per desk $fill in the blank 7 $fill in the blank 8 $fill in the blank 9 Should the company sell unfinished desks or process further and sell finished desks?Oficina Bonita Company should .
Kindly refer to the problem and answer numbers 1-3: As part of a cost study, the cost accountant of Shiny Corporation has recorded the cost of operations at seven different levels of materials usage. The records show the following: 80 kilos - P800 60 kilos - P480 20 kilos - P320 120 kilos - P1,200 140 kilos - P1,280 40 kilos - P480 100 kilos - P1,040 Sum of the kilos (Σx) - P560 Sum of the costs (Σy) - P5,600 Sum of the kilos multiplied by the costs (Σxy) - P545,600 Sum of the kilos squared (Σx2) - P56,000 1.) The projected cost of operations for 90 kilos of materials is: a. P880.00 regardless of the method used. b. P886.90 if the method of least squares is used. c. P886.90 if the high-low points method is used. d. P880.00 if the method of least squares is used. 2.) Using the high-low points method, the variable cost of operations per kilo of materials used is: a. P8.00 b. P16 c. P9.14 d. P10 3.) Using the least squares method, the fixed portion of the cost is: a.…
Required information [The following information applies to the questions displayed below.] Odessa, Incorporated, manufactures one model of computer desk. The following data are available regarding units shipped and total shipping costs: Month January February March April May June July Number of Units Total Shipping Shipped 40 45 25 50 55 65 35 Cost $ 2,950 2,800 2,100 3,350 3,300 3,900 2,000 Required: 1. Prepare a scattergraph of Odessa's shipping cost and draw the line you believe best fits the data. Instructions: 1. Click on a point to the right of the graph. 2. Click within the graph to place the point. 3. Enter the exact coordinates in the dialog box that appears to the right of the graph. 4. Click save. 5. To change coordinates already saved, click on a point already placed in the graph, and enter revised coordinates in the dialog box that opens. 6. Use the line tool provided to plota regression line for this data with ending coordinates of (100, 5100). To use the line tool, first…
For many years, Sinclair Graphic Design has provided design and digital-printing services for indoor banners. The nylon banners, which come in a standard size, are used for a variety of purposes, including trade shows, sporting events, and other promotional activities. Three years ago, the company introduced a second printing and production service for outdoor banners that has become increasingly popular. The outdoor banners are a more complex product than the indoor banners, requiring weatherproof vinyl materials and a different printing process to improve the visibility of the text and graphics content. Moreover, outdoor banners are printed in smaller production runs because of less frequent orders; the setup of the printing equipment takes longer; and, since higher durability is needed to withstand the elements, more quality inspections are needed. Under the traditional costing approach, overhead costs are assigned to the products on the basis of direct labour-hours. Despite the…
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A% merica AS... rk i Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) $ 150.00 98.00 Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 51,000 units per quarter. The following additional information is available. 49.00 63.00 $360.00 70% 35,700 249,900 Direct materials (1,377,000 pounds @ $5.00 per pound)…
Account Activity and Relationships Each case is independent. Solve for missing data in alphabetical order. (Hint: Refer to Exhibit 18.6, p. 18-17 and the WIP table, p. 18-25.) Case A Case B Case C Case D Sales $425,000 Answer 550,000 Answer Direct materials 75,000 105,000 Answer 105,000 Direct labor 25,000 Answer 100,000 Answer Total direct costs Answer 160,000 Answer 150,000 Conversion cost Answer 130,000 Answer Answer Manufacturing overhead 40,000 Answer 50,000 Answer Current manufacturing costs Answer Answer 475,000 395,000 Work in process, beginning 35,000 50,000 Answer 105,000 Work in process, ending 25,000 Answer 105,000 Answer Cost of goods manufactured Answer 160,000 Answer 410,000 Finished goods inventory, beginning 45,000 40,000 35,000 60,000 Finished goods inventory, ending 30,000 Answer 40,000 Answer Cost of goods sold Answer 175,000 Answer 400,000 Gross profit…
Convert the accompanying database to an Excel table to find: a.The total cost of all orders. b.Thetotal quantity of airframe fasteners purchased. c. The total cost of all orders placed with Manley Valve. Question content area bottom Part 1 a. The total cost of all orders is $?????? enter your response here.
uestions | bartleby G How many units must be in... My Home CengageNOWv2| Online te.. eBook Show Me How A production department within a company received materials of $10,000 and conversion costs of $8,000 from the prior department. It added material of $36,500 and conversion costs of $70,750. The equivalent units are 25,000 for material and 22,500 for conversion. What is the unit cost for materials and conversion? When required, round final answers to two decimal places. Unit Cost Materials Conversion $ + %24
Sohan Ltd. manufactures three components A, B, and C, the cost of which is asfollows: You are to present a report to the management of the company showing whether it should continue to manufacture these components or whether it should buy them from a supplier, who has quoted the following price: A Rs.30; B Rs.15; C Rs.25.
meducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F %252Fne S... Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level o the company's capacity of 51,000 units per quarter. The following additional information is available. $ 150.00 98.00 49.00 63.00 $360.00 70% 35,700 249,900 $ 2,570,400 $1,749,300 Direct materials (1,377,000 pounds @ $5.00 per pound) Direct labor…