For October, prime cost incurred was NUBD Co. has the following data for the month of OctoberInventories:Raw materialWork in processFinished goodsOctober 1P18,0009,00027,000October 31P15,0006,00036,000Additional information for March:Raw material purchasedDirect labor payrollDirect labor rate per hourOverhead rate per direct labor hourP42,00030,0007.5010.00

Prime cost means the addition of direct material and direct labor. Conversion cost means the…

Answered: For October, prime cost incurred was

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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4.1 Determined the correct formula to calculate the predetermined overhead absorption rate (OAR). Budgeted total overhead divided by actual total number of units of absorption base Budgeted total overhead divided by budgeted total number of units of absorption base Actual total overhead divided by actual total number of units of absorption base Actual total overhead divided by budgeted total number of units of absorption base
Given a predetermined overhead rate of $1.60 per direct labor hour, a capacity of 50,000 hours and 42,000 actual hours, the cost of unused capacity is
The variable overhead spending variance is most effective in measuring: O how well overhead spending matches the targets set in the original budget at the beginning of the year. O the efficiency with which the activity base was utilized in production. O the excessive use of overhead resources. O the utilization of plant facilities.
27) Which among the following cost encourage management to focus on life cycle costing? a. All the options listed b. Maintenance costs c. Repair costs d. Warranty costs
Prepare a schedule of cost of goods manufactured for the year ended June 30, 2021, clearly showingtotal manufacturing cost & total manufacturing costs to account for.
Test VII. High and Low Points Method. A controller is interested in analyzing the fixed and variable costs of indirect labor as related to direct labor hours. The following data have been accumulated: Indirect Direct Labor Labor Cost $2,880 3,256 2,820 3,285 3,200 3,200 Month March. Hours 425 Аpril May June. July . August. 545 440 560 540 495 Requirement: Determine the amount of the fixed portion of indirect labor expense and the variable rate for indirect labor expense, using the high and low points method.
prepare entry to assign manufacturing overhead to production, assuming the predetermined overhead rate is 125% of direct labor cost.
Current Attempt in Progress Tamarisk Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information: $14,800 12,120 3,840 47,120 77,440 132,480 8,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $66,480 44,320 2,400 1,280 1,920 14,400 2,510
When preparing a forecasted contribution margin income statement and you are given the units produced, how do you compute dollars per unit?
Overallocated manufacturing overhead results when A. actual overhead is less than expected. OB. estimated overhead is less than actual overhead. OC. actual overhead is less than allocated overhead. OD. production is less than last year.
Give the period cost budgets - select all that apply Oa. Direct Labour Budget O b. Selling and Administrative Budget Oc. Overhead Budget Od. Direct Materials Budget e. None of the above
Describes how a typical cost will react or respond 10 changes in The level of business activity?

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