None paidSales Revenue10) The following information relates to Washington, Inc.:Advertising CostsSales SalaryherracPresident's SalaryOffice RentesiManufacturing Equipment DepreciationIndirect Materials UsedIndirect LaborFactory Repair and MaintenanceDirect Materials UsedDirect LaborDelivery Vehicle Depreciation$19,00014,000530,000340,00064,5001,4007,60012,00092030,00041,0001,75029,000Administrative SalariesHow much were Washington's product costs?A) $549,000C) $369,000B) $658,25011) When the total variable costs are deducted from total mixed costs, we obtainA) total high-low costsC) variable cost per unitB) mixed cost per unitD) total fixed costs10)D) $92,92011)12) Diaz Foods produces a gourmet salsa which sells for $28 per unit. Variable costs are $8 per unit,and fixed costs are $7,000 per month. If Diaz expects to sell 1,700 units, compute the margin ofsafety in units.A) 350 unitsB) 1,350 unitsC) 2,050 units13) Penny's Pies, Inc. has provided the following financial information for the year:Finished Goods Inventory:Beginning balance, in unitsUnits producedUnits soldEnding balance, in unitsProduction Costs:6504,2004,300550Variable manufacturing costs perunitTotal fixed manufacturing costs$50$50,400What is the unit product cost for the year using variable costing?A) $12iB) $62C) $5014) Which of the following is considered a period cost in absorption costing?A) fixed selling and administrative costsB) semi-variable manufacturing overhead costsC) variable manufacturing overhead costsD) fixed manufacturing overhead costs312)D) 1,700 units13)(8D) $9214)

"As per guidelines, we solve only the first question in case of multiple questions posted. You can…

owing information relates to Washington, Inc.: Advertising Costs Sales Salary $19,000 Sales Revenue 14,000 President's Salary 530,000 340,000 Office Rent 64,500 Indirect Materials Used Manufacturing Equipment Depreciation 1,400 7,600 Indirect Labor 12,000 Factory Repair and Maintenance 920 Direct Materials Used 30,000 Direct Labor 41,000 Delivery Vehicle Depreciation 1,750 29,000 Administrative Salaries How much were Washington's product costs? A) $549,000 B) $658,250 C) $369,000 D) $92,920 10)

owing information relates to Washington, Inc.: Advertising Costs Sales Salary $19,000 Sales Revenue 14,000 President's Salary 530,000 340,000 Office Rent 64,500 Indirect Materials Used Manufacturing Equipment Depreciation 1,400 7,600 Indirect Labor 12,000 Factory Repair and Maintenance 920 Direct Materials Used 30,000 Direct Labor 41,000 Delivery Vehicle Depreciation 1,750 29,000 Administrative Salaries How much were Washington's product costs? A) $549,000 B) $658,250 C) $369,000 D) $92,920 10)

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11.2E: Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each...

See similar textbooks

Similar questions

Classifying costs as factory overhead Which of the following items are properly classified as part of factory overhead for Caterpillar? a. Amortization of patents on new assembly process b.Consultant fees for a study of production line employee productivity C. Depreciation on Peoria. Illinois, headquarters building d.Factory supplies used in the Morganton. North Carolina, engine parts plant e.Interest expense on debt f. Plant manager's salary at Aurora, Illinois, manufacturing plant g.Properly taxes on the Danville, Kentucky, tractor tread plant h.Sales incentive fees to dealers i. Steel plate j. Vice president of finance's salary
! Required information Sunrise Accounting provides basic tax services and "rent-a-controller" accounting services. Sunrise has identified three activity pools, the related costs per pool, the cost driver for each pool, and the expected use for each pool. Activity Transportation costs Electronic processing Office support Transportation costs Electronic processing Office support Total Overhead $ Total Activity Cost $50,000 Mileage 75,000 Processing hours 20,000 $ Cost Driver Using activity proportions, determine the amount of overhead assigned to Controller Services. (Do not round intermediate calculations.) 25 75 12 112 Administrative hours Expected Tax Services Usage 5,000 miles 20,000 hours 3,500 hours Expected Controller Services Usage 35,000 miles 30,000 hours 1,500 hours
Refer to the following data to answer the question: Direct material used Selling costs Indirect labour Administrative costs Depreciation on factory equipment Direct labour Overtime premiums paid Indirect materials The prime costs are: Select one: O a. $142 000. O b. $40 000. O c. $150 000. O d. $190 000. $ 150 000 $ 5.000 $ 7.000 $ $ $ Ent tit. $ $ Eft 10 000 70 000 40 000 20 000 45 000
Question Consider the following costs that were incurred during the current year and determine whether the cost is a product cost or a period cost.a) Advertising costs. ________b) Cost of Material used. ________c) CEO’s salary. ________d) Sales Commissions. ________
Data table 1. Number of jobs billed 2. Selling price per job 3. Engineering labor-hours 4. Cost per engineering labor-hour 5. Engineering support capacity (number of jobs the firm can do) 6. Total cost of engineering support (space rent, equipment, etc.) 7. Engineering support-capacity cost per job $ $ $ 2019 300 3,400 $ 26,000 32 $ 650 175,500 $ 270 $ 2020 600 3,000 28,000 33 650 182,000 280
Administrative expenses Depreciation of plant machinery and equipment Direct labor Direct materials Freight out Indirect labor Plant facility rent Sales commissions Compute for the product cost. P40,000 40,000 400,000 300,000 20,000 20,000 30,000 500,000
Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Revenues Variable expenses Contribution margin Traceable fixed expenses: Prepare a properly formatted segmented income statement. Depreciation Liability insurance Program administrators' salaries Total traceable fixed expenses Req 2A Program segment margins General administrative overhead Net operating income (loss) Req 2B Total 0 0 0 0 0 0 0 House- keeping 0 0 0
Question 3 Ashale Botwe Ltd has the following cost and expense data for the year ending December 31, 2022. Direct materials (GHC) Work in process (GH¢) Finished goods (GH¢) Insurance factory Property taxes on factory building Materials purchases Sales Indirect materials Delivery expenses Sales commissions Indirect labour 1/1/22 Factory machinery rent Factory utilities Direct labour 30,000 80,000 110,000 Other items of revenue and cost during the year are as follows: (GHC) 31/12/22 20,000 50,000 120,000 Direct materials used b) Total manufacturing cost c) Statement of cost of goods manufactured d) Prime cost e) Conversion cost f) Cost of goods available for sale g) Cost of goods sold h) Gross profit i) Period cost j) Net income 14,000 6,000 205,000 1,500,000 15,000 100,000 150,000 90,000 40,000 ARI 65,000 350,000 24,000 35,000 300,000 Depreciation, factory building Factory manager's salary Administrative expenses For the year 2022, you are required to compute the following:
Sales revenue Rent revenue Raw material purchases Energy consumption in production Energy consumption in headquarters depreciation Factory/machinery Direct labor costs Indirect labor costs Salaries for headquarters personnel Raw materials (opening yearly balance-500.000) Work-in process Finished goods Cost of goods sold a. 562.000, 162.000 Beginning Within Ending 4,000,000.00 500,000.00 4,500,000.00 220,000.00 20,000.00 240,000.00 2,000,000.00 200,000.00 2,200,000.00 400,000.00 40,000.00 440,000.00 55,000.00 5,000.00 60,000.00 28,000.00 2,000.00 30,000.00 880,000.00 120,000.00 1,000,000.00 600,000.00 100,000.00 700,000.00 800,000.00 90,000.00 890,000.00 300,000.00 400,000.00 1,200,000.00 1,000,000.00 900,000.00 ? O b. 362.000, 562.000 O c. 362.000, 162.000 O d. 562.000, 362.000 500,000.00 1,900,000.00 Suppose that the table belongs to a firm's December transactions. What are the Cost of Goods Manufactured and Cost of Goods Sold? ?
Which one of the following is an example of a committed cost? a. The cost of annual end of year celebration а. b. None of the given answers С. The salary of the chief operating officer d. The cost of employee training program * e. The salary of the marketing manager
15. The Logicom Company reports the following information: Sales Direct materials used Depreciation on factory equipment Indirect labor Direct labor Factory rent Factory utilities Sales salaries expense Office salaries expense Indirect materials Product costs are A. $35,000 B. $29,200 C. $30,300 D. $24,500 $76,500 7,300 4,700 5,900 10,500 4,200 1,200 15,600 8,900 1,200
d Required information [The following information applies to the questions displayed below.] Use the following information: Department Service 1 (S1) Service 2 (52) Production 1 (P1) Production 2 (P2) P1 P2 Total Service Department 2's Costs Cost $ 121,000 53,000 435,000 306,000 $ 915,000 3/8 x 5/8 X Percentage Service Provided to S1 0% 20 52 20% 0 What percentage of S2's costs is allocated to P1 and to P2 under the direct method? (Round your answer to the nearest fraction.) P1 30% 20 P2 50% 60