Integrity Company uses standard costing for each specialized product.  The following information is available:                              Standards:                 Material             3.0 feet per unit @ 42.00 per foot                 Labor                  2.5 hours per unit @ 75.00 per hour                Actual:                 Production        2,750 units produced during the month                 Material             8,700 feet used; 9,000 feet purchased @ 45.00 per foot                 Labor                 7,000 direct labor hours @ 79.00 per hour  How much is the amount of direct materials debited to Work in Process Inventory?   A. 391,500 B. 405,000 C. 365,400 D. 346,500

Godiva company has two products, A and B. The company uses activity-based costing to allocate overhead costs of $100,000. Data relating to the company's activity pools for the current year are given below: Cost Pool   Total cost in Total Number of Activity Measures Used Cost Pool Product A Product B Total Activity 1   $42,000 100 200 300 Activity 2 $10,000 20 5 25 Activity 3 $48,000 3,000 3,000 6,000 Compute the activity rate (allocation rate) for Activity 2:   $500   $2,000   $400   $140

The following are standard costs related to a product of Jacobs, SRL: Inputs: Unit of Input Units per item Price or rate Direct Materials: square feet 80 $22/square foot Direct Labor: direct labor hours 24 $38/direct labor hour Variable Overhead: direct labor hours   $49/direct labor hour The company applies variable overhead on the basis of direct labor hours.   In April, the following results were reported: Actual output: 506 items Raw Materials used: 45,684 square feet Raw Material purchased: 42,335 square feet Actual direct labor hours: 14,168 hours Actual cost of raw materials purchased: $973,705 Actual direct labor cost: $609,224 Actual variable overhead cost: $665,896 The direct material purchases variance is computed when the materials are purchased. Determine each of the following variances and whether they are favorable or unfavorable:     Part 1: Direct Material quantity variance:  114,488 Unfavorable 114,488 Favorable 83,145 Favorable 83, 145…

A company uses activity-based costing. The company makes two products: A and B. The annual production and sales of A is 400 units at $70 per unit and of B is 200 units at $90 per unit. Direct period costs are $3.000 for each product. There are three activity cost pools, with total allocated cost are as follows: Activity Cost Pools A B. Total Cost Activity 1 Activity 2 Activity 3 $4,280 $2,380 $6,660 1,275 7,175 8,450 2,654 6,877 १531 If the total of direct materials and direct labor costs for Product A is $20,000, the product margin for Product A is: (Enter a number in the box, use a negative sign for a product margin loss) $

ABC company manufactures rivets in an automated factory. The company uses standard costing system to control costs & to assign costs to its inventory. Price Standard Quantity Standard Direct material $3/ unit 16 meters/rivet Direct labour $11 per hour 3 hours per rivet Variable overheads are estimated at $5.50 per rivet. Fixed overheads are $26,000 per month. The standard fixed overhead rate is based on an estimated production of 1,000 per month. Required: a. Prepare a production budget for the coming year based on a planned production of 12,000 rivets. b. Compare the budget prepared in a) with a flexible budget based on actual production of 15,000 rivets.

Olmo, Incorporated, manufactures and sells two products: Product K0 and Product H9. The annual production and sales of Product of K0 is 600 units and of Product H9 is 600 units. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity:   Activity Cost Pools Activity Measures Estimated Overhead Cost Expected Activity Product K0 Product H9 Total Labor-related DLHs $ 550,908 3,600 1,800 5,400 Production orders orders 53,919 700 400 1,100 Order size MHs 836,516 4,000 3,100 7,100     $ 1,441,343         The overhead applied to each unit of Product H9 under activity-based costing is closest to: (Round your intermediate calculations to 2 decimal places.)

Bulluck Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 3.5 grams 0.7 hours 0.7 hours The company reported the following results concerning this product in July. Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials purchased Actual direct labor rate Actual variable overhead rate Standard Price or Rate $ 1.00 per gram $ 11.00 per hour $ 2.00 per hour The variable overhead rate variance for July is: 3,000 units 11,370 grams 1,910 hours 12,100 grams $ 1.20 per gram $11.40 per hour $ 2.10 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.

Multiple versus Single Kates, Activity 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 $490,440 Number of setups 610 Ordering costs 313,500 Number of orders Machine costs 917,700 Machine hours Receiving 382,200 Receiving hours Deoro produces two models of dishwashers with the following expected prime costs and activity demands: Model A Model B $610,000 451,000 15,500 6,400 360 Direct materials Direct labor Units completed Direct labor hours Number of setups Number of orders Machine hours Receiving hours 5,400 24,900 2,700 $766,000 499,000 7,000 2,300 250 11,100 18,800 7,100 16,500 43,700 9,800

Wildhorse Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 2.50 pounds at $4.40 per pound Direct labor per unit: 0.40 hours at $16.00 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $20.00 per direct labor hour Compute the standard cost of one unit of product I-Tal. (Round answer to two decimal places (e.g., 2.75).) Standard cost $

A company makes two products—Product A and B. Data regarding the two products follow:   Direct Labor-Hours per Unit Annual Production Product A 0.75 20,000 units Product B 0.50 50,000 units Additional information is as follows:   Product A requires $40 in direct materials per unit, and Product B requires $32. The direct labor wage rate is $18 per hour. The company’s activity-based absorption costing system has the following activity cost pools: Activity Cost Pool (and Activity Measures) Estimated Overhead Cost Expected Activity Product A Product B Total Machine setups (number of setups) $ 100,000 100 300 400 Special processing (machine-hours) $ 200,000 2,000 6,000 8,000 General factory (Direct labor-hours) $ 150,000 15,000 25,000 40,000