FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Don't provide answers in image formatarrow_forwardPlease do not give solution in image format thankuarrow_forwardApplying Excel 13: Predetermined Overhead Rate ✓ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 A B Raw Materials Inventory 57,500 5,700 43,000 Finished Goods Inventory 216,000 Factory Overhead 14,800 61,000 52,300 6,000 Multiple Choice с =+C17/F11 =+C17/(SUM(B17:B19)) =+E5/E3 37,000 14.800 173,000 =+E5/E4 122,100 D E Assuming the company applies overhead as a percentage of direct labor cost, which formula accurately computes the predetermined overhead rate? Work in Process Inventory 37,000 216,000 111.000 122,100 54,100 Factory Wages Payable 172,000 0 111.000 ......... 61,000arrow_forward
- 13 - Unit 1 - Chapter 1 Ass X it 1 - Chapter 1 Assignment i 13 t 13 of 15 S Print O n Bartleby vs Chegg - Which Is Bex b Search results for 'Martinez Con X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%25 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Contribution margin per unit Next Help 3 90% Save & Exit Check marrow_forwardpe 20-3barrow_forward2 3 Sales Projections in Units # January February March 5 6 7 8 9 14 15 0 Projected Sales Price/Unit $ 11 12 Monthly Projected Selling & Administrative Expenses 13 16 17 7 18 9 20 21 2 23 24 25 25 27 28 29 20 31 2 33 4 5 36 37 38 39 19 22 April May 20 Materials 32 Variable Cost/Unit Fixed Costs 34 Production: 35 Desired Ending Inventory Beginning 26 Direct Labor Inventory (new business) Desired Ending Inventory Number of Materials per Unit Projected Cost/Material Unit Beginning Inventory (new business) 30 Manufacturing Overhead Variable Cost/Unit Fixed Costs Time per Unit (in hours) per Hour Cost 21,945 28,615 $ 42,948 54,526 34,817 $ 12.00 $ 2,662.00 $ $ 206.00 52.6% 0 81.0% 0 7.0 5.00 1.00 $ 16.00 5.00 3,909arrow_forward
- e Preview 4) F3 $ R 01- Arctic Air Inc. manufactures cooling units for commercial buildings. The price and cost of goods sold for each unit are as follows: Category Price Cost of goods sold Gross profit F4 Customer service Project bidding Engineering support Total costs In addition, the company incurs selling and administrative expenses of $226,250. The company wishes to assign these costs to its three major customers, Gough Industries, Breen Inc., and The Martin Group. These expenses are related to three major nonmanufacturing activities: customer service, project bidding, and engineering support. The engineering support is in the form of engineering changes that are placed by the customer to change the design of a product. The budgeted activity costs and activity bases associated with these activities are: S⁰5 Activity Number of service requests Number of bids Number of customer design changes Unit volume % Activity 3:0 F5 T Activity-base usage and unit volume information for the…arrow_forwardDo not give answer in imagearrow_forwardExercise 17-12 (Algo) Cost drivers for activity-based costing LO P3 A manufacturer reports three activities: finishing production; product design; and sales order processing. Determine whether each of the following cost drivers relates to finishing production, design, or order processing. Cost Driver 1. Direct labor hours to finish production 2. Number of design changes 3. Finishing machine hours 4. Number of design hours 5. Number of shipments made 6. Number of sales orders processed Activityarrow_forward
- E 3 Mc Graw Hill connect® Problem 20-1A Weighted average: Cost per equivalent unit; costs assigned to products P1 Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory C $ Check (2) Conversion cost per equivalent unit, $4.50 4 Conversion Costs added this period Direct materials % Beginning work in process inventory Direct materials Conversion Total costs to account for 5 Required 1. Compute equivalent units of production for both direct materials and conversion. 2. Compute cost per equivalent unit of production for both direct materials and conversion. Unit Oll 60,000 820,000 700,000 180,000 A 6 Direct Materials Percent Complete $ 420,000…arrow_forwardPlease do not give solution in image format thankuarrow_forwardContent 7 Assignment 2 X cation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fpost.blackboard.com%252Fweb Required information [The following information applies to the questions displayed below.] Variable costs per unit: Manufacturing: Question 3- Unit 4 - (X Direct materials. Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: # Diego Company manufactures one product that is sold for $76 per unit in two geographic regions-the East and West regions. The following information pertains to the company's first year of operations in which it produced 47,000 units ar sold 42,000 units. Fixed manufacturing overhead Fixed selling and administrative expense 3 f4 3. What is the company's total contribution margin under variable costing? $ The company sold 32,000 units in the East region and 10,000 units in the West region. It determined that $210,000 of its fixed selling and administrative expense is traceable…arrow_forward
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