Randy Inc. produces and sells tablets. The company incurred the following costs for the May: Advertising cost for monthly television ads $ 5,800 Attachable keyboard 19,800 Insurance for delivery truck 580 Factory supervisor's salary 3,550 Marketing manager's salary 3,250 Assembly worker wages 24,000 Miscellaneous soldering material used to seal case 1,050 Hourly wages for factory security guard 2,200 CEO's salary 7,400 Speakers 5,200 Required: Determine each of the following: 1. Direct material 2. Direct labor 3. Manufacturing overhead 4. Total manufacturing cost 5. Total period cost 6. Total variable cost 7. Total fixed cost

Randy Inc. produces and sells tablets. The company incurred the following costs for the May: Advertising cost for monthly television ads $ 5,800 Attachable keyboard 19,800 Insurance for delivery truck 580 Factory supervisor's salary 3,550 Marketing manager's salary 3,250 Assembly worker wages 24,000 Miscellaneous soldering material used to seal case 1,050 Hourly wages for factory security guard 2,200 CEO's salary 7,400 Speakers 5,200 Required: Determine each of the following: 1. Direct material 2. Direct labor 3. Manufacturing overhead 4. Total manufacturing cost 5. Total period cost 6. Total variable cost 7. Total fixed cost

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter23: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1COMP

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Mateo Company produces and sells tablets. The company incurred the following costs for the month of May: Advertising cost for monthly television ads Attachable keyboard $ 5,600 19,600 Insurance for delivery truck $560 Factory supervisor's salary 3,500 Marketing manager's salary 3,200 Assembly worker wages 23,000 Miscellaneous soldering material used to seal case 1,000 Hourly wages for factory security guard 2,150 CEO's salary 7,300 5,150 Speakers Required: Determine each of the following: 1. Direct materials 2. Direct labor 3. Manufacturing overhead 4. Total manufacturing cost 5. Total period cost 6. Total variable cost 7. Total fixed cost
Lucky Cow Dairy provided the following expense information for May: Assembly-line workers' wages $72,800 Caps for milk bottles 3800 Reconfiguring the assembly line 125,100 Customer support hotline 10,500 Delivery expenses 20,500 Depreciation on factory equipment 75,800 Plastic milk bottles 52,300 Salaries of salespeople 63,300 Salaries of research scientists 70,400 Customer toll-free order line 6900 What is the total cost for the distribution category of the value chain? Question 19 options: $20,500 $218,400 $24,300 $153,500
Lucky Cow Dairy provided the following expense information for May: Assembly-line workers' wages $72,100 Caps for milk bottles 3600 Reconfiguring the assembly line 125,700 Customer support hotline 10,400 Delivery expenses 20,300 Depreciation on factory equipment 75,000 Plastic milk bottles 52,300 Salaries of salespeople 63,200 Salaries of research scientists 70,300 Customer toll-free order line 6800 What is the total cost for the design category of the value chain? Question 21 options: $268,100 $188,900 $197,800 $125,700
A greeting card company incurred the following costs associated with running its business last month: cardstock (thick paper), $9,820; ink, stickers, ribbons, and other card attachments, $7,520; rent on office space, $1,420; rent on factory space, $2,320; office salaries, $5,220; factory labor, $8,920; and advertising, $870.How much were its total product costs last month? Total product costs $enter the total product costs in dollars How much were its total period costs last month? Total period costs $enter the total period costs in dollars
ABC Inc. makes uniforms for elementary schools. The company reported the following costs for the current year: Rent $12,000 Advertising $20,000 Wages paid cutters $50,000 Cotton for uniforms $15.500 Thread $5,500 Utilities for Factory $26,000 Supervisor's Salary $40,000 Buttons $10,500 Factory Insurance $15,000 Wages paid to sewers $65,000 Compute the cost of manufacturing overhead for ABC Inc. O $89,000 O $124,500 O $109,000 O $69,000
Hartley Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Hartley Uniforms reports the following cost data for the past year: Budget Actual 7,600 hours 6,100 hours Direct labor hours Machine hours 7,200 hours 6,300 hours Depreciation on salespeople's autos $23,000 $23,000 Indirect materials $48,500 $50,500 Depreciation on trucks used to deliver uniforms to customers solla $13,000 $70,000 $40,000 $11,000 Depreciation on plant and equipment Indirect manufacturing labor $72,500 $42,000 Customer service hotline $19,000 $21,000 Plant utilities $35,900 $38,400 Direct labor cost $72,500 $85,500 Requirements 1odel tba 1. Compute the predetermined manufacturing overhead rate. 2. Calculate the allocated manufacturing overhead for the past year. 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? 4. How can managers usA acco
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1) A printing company manufactures notebooks of various sizes. The company manufactures 3,000 notebooks each day. Should the company use process costing or job order costing? 2) Clarks Chocolates incurs these costs for the month: Direct material 15,000 direct labor 25,000 factory depreciation expense 45,000 factory utilities expense 2,000 payroll staff’s salary 15,000 What is the conversion cost?
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Dance Creations manufactures authentic Hawallan hula skirts that are purchased for traditional Hawallan celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: variable Cost per Hula skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Month $ 9.75 3.55 Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $31 for each skirt that it sells. During the first month of operation, it made 1,540 skirts and sold 1,420. 1.20 0.60 Required 1 Required 2 Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. 4. Complete a full absorption costing…

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Advertising cost for monthly television ads	$	5,800
Attachable keyboard		19,800
Insurance for delivery truck		580
Factory supervisor's salary		3,550
Marketing manager's salary		3,250
Assembly worker wages		24,000
Miscellaneous soldering material used to seal case		1,050
Hourly wages for factory security guard		2,200
CEO's salary		7,400
Speakers		5,200