James Daze Growers accumulated actual MOH costs this year of $37,200, even though it had budgeted $43,860 of MOH. It allocates MOH based on the direct labor hours of its workers. At the beginning of the year, it budgeted for 8,600 hours but ended up using 9,300 hours this year. Determine the following. (Round budgeted and actual MOH rate answers to 2 decimal places, e.g 2.25.) (a) The budgeted MOH rate (b) The actual MOH rate (c) Applied MOH under actual costing (d) Applied MOH under normal costing $ $ $ $ /hr. /hr.

James Daze Growers accumulated actual MOH costs this year of $37,200, even though it had budgeted $43,860 of MOH. It allocates MOH based on the direct labor hours of its workers. At the beginning of the year, it budgeted for 8,600 hours but ended up using 9,300 hours this year. Determine the following. (Round budgeted and actual MOH rate answers to 2 decimal places, e.g 2.25.) (a) The budgeted MOH rate (b) The actual MOH rate (c) Applied MOH under actual costing (d) Applied MOH under normal costing $ $ $ $ /hr. /hr.

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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Current Attempt in Progress George Daze Growers accumulated actual MOH costs this year of $52,380, even though it had budgeted $58,590 of MOH. It allocates MOH based on the direct labor hours of its workers. At the beginning of the year, it budgeted for 9,000 hours but ended up using 9,700 hours this year. Determine the following. (Round budgeted and actual MOH rate answers to 2 decimal places, e.g 2.25.) (a) The budgeted MOH rate (b) The actual MOH rate SA $ /hr. SA $ /hr. (c) Applied MOH under actual costing $ (d) Applied MOH under normal costing $
Joseph Daze Growers accumulated actual MOH costs this year of $48,480, even though it had budgeted $55,460 of MOH. It allocates MOH based on the direct labor hours of its workers. At the beginning of the year, it budgeted for 9,400 hours but ended up using 10,100 hours this year.Determine the following. (Round budgeted and actual MOH rate answers to 2 decimal places, e.g 2.25.) (a) The budgeted MOH rate $enter a dollar amount per hour rounded to 2 decimal places /hr. (b) The actual MOH rate $enter a dollar amount per hour rounded to 2 decimal places /hr. (c) Applied MOH under actual costing $enter a dollar amount (d) Applied MOH under normal costing $enter a dollar amount
Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month's budget appear below: Selling price per unit. Variable expense per unit Fixed expense per month Unit sales per month Required: 1. What is the company's margin of safety? (Do not round intermediate calculations.) 2. What is the company's margin of safety as a percentage of its sales? (Round your percentage answer to 2 decimal places (i.e. 1234 should be entered as 12.34).) 1. Margin of safety (in dollars) 2. Margin of safety percentage $26 $ 19 $ 6,090 1,020 $ 4,300 15.25 %
Botana Company constructed the following formula for its monthly utility cost. Total utility cost = $1,200 + ($8.10 × Labor hours) Assume that 775 labor hours are budgeted for the month of April. If Botana Company incurs 9,600 labor hours for the year, what would be the estimate of total utility cost?
Joseph is working on the budget for his summer window-washing business, trying to figure out what his total costs are going to be for the season. He has monthly data from last summer, so he decided to start with that. Using the observations below, use the high-low method to estimate a total monthly cost function for Joseph's business. Month 1 2 3 Number of Labor Hours Spent Y = $ 60 105 85 (Round answers to 2 decimal places, e.g. 15.25.) X + $ Total Cost $196 $322 $250
Bernoulli's business budget included sales of $350 000 and fixed costs of $52 600. If the total contribution margin for the business was $125 000:a)Find the contribution rate as a percentage approximated to nearest 100th. b)What are the sales needed to break even?
Reton Company is reviewing the results of itts production during tthe most recent fiscal year. Due to seasonality of the business, the volume of production fluctuates during the year. Renton would like to analyze the fixed and variable costs for purposes of estimating the budget for the upcoming fiscal year. The cost accountant provided the following data: UNITS PRODUCED TOTAL COST January 1,100 ₱12,530 February 1,200 13,260 March 1,400 14,720 April 1,500 15,450 May 1,800 17,640 June 2,100 19,830 July 2,000 19,100 August 1,900 18,370 September 1,400 14,720 October 1,500 15,450 November 1,300 13,990 December 1,700 16,910 TOTAL 18,900 191,970 Required: Calculate the variable cost per unit and the total fixed cost using the following: Average method (compare the two lowest quarters) Graphical method Method of least squares
Reton Company is reviewing the results of itts production during tthe most recent fiscal year. Due to seasonality of the business, the volume of production fluctuates during the year. Renton would like to analyze the fixed and variable costs for purposes of estimating the budget for the upcoming fiscal year. The cost accountant provided the following data: UNITS PRODUCED TOTAL COST January 1,100 ₱12,530 February 1,200 13,260 March 1,400 14,720 April 1,500 15,450 May 1,800 17,640 June 2,100 19,830 July 2,000 19,100 August 1,900 18,370 September 1,400 14,720 October 1,500 15,450 November 1,300 13,990 December 1,700 16,910 TOTAL 18,900 191,970 Calculate the variable cost per unit and the total fixed cost using the Average method (compare the two lowest quarters).
Reton Company is reviewing the results of itts production during tthe most recent fiscal year. Due to seasonality of the business, the volume of production fluctuates during the year. Renton would like to analyze the fixed and variable costs for purposes of estimating the budget for the upcoming fiscal year. The cost accountant provided the following data: UNITS PRODUCED TOTAL COST January 1,100 ₱12,530 February 1,200 13,260 March 1,400 14,720 April 1,500 15,450 May 1,800 17,640 June 2,100 19,830 July 2,000 19,100 August 1,900 18,370 September 1,400 14,720 October 1,500 15,450 November 1,300 13,990 December 1,700 16,910 TOTAL 18,900 191,970 Calculate the variable cost per unit and the total fixed cost using the Graphical method.
Reton Company is reviewing the results of itts production during tthe most recent fiscal year. Due to seasonality of the business, the volume of production fluctuates during the year. Renton would like to analyze the fixed and variable costs for purposes of estimating the budget for the upcoming fiscal year. The cost accountant provided the following data: UNITS PRODUCED TOTAL COST January 1,100 ₱12,530 February 1,200 13,260 March 1,400 14,720 April 1,500 15,450 May 1,800 17,640 June 2,100 19,830 July 2,000 19,100 August 1,900 18,370 September 1,400 14,720 October 1,500 15,450 November 1,300 13,990 December 1,700 16,910 TOTAL 18,900 191,970 Required: Calculate the variable cost per unit and the total fixed cost using the following: High-low point method Average method (compare the two lowest quarters) Graphical method Method of least squares
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