Do not give image format Copland Components manufactures an electronic device for vehicle manufacturing. The current standard cost sheet for a devicefollows:$? per device? per device? per device$ 30 per deviceAssume that the following data appeared in Copland's records at the end of the past month:Direct materials, ? ounces at $2.80 per ounceDirect labor, 0.40 hours at ? per hourOverhead, 0.40 hours at? per hourTotal costsActual productionActual salesMaterials costs (556,000 ounces)Materials price varianceMaterials efficiency varianceDirect labor price varianceDirect labor (40,900 hours)Overapplied overhead (total)There are no materials inventories.Required:a. Prepare a variance analysis for direct materials and direct labor.b. Assume that all production overhead is fixed and that the $26,900 overapplied is the only overhead variance that can be computed.What are the actual and applied overhead amounts?c. Complete the standard cost sheet for a device given below.Direct MaterialsDirect laborComplete this question by entering your answers in the tabs below.Actual PriceAPX AQ104,840 units98,500 units$ ?Required A Required B Required CPrepare a variance analysis for direct materials and direct labor.$ 1,002,05066,400 U89,040 U20,450 FS1,002,05026,900$Price Variance66,400 U20,450 FActual Inputsat Standard PriceSP x AQ< Required A$Efficiency Variance89,040 URequired B >FlexibleBudgetSP X SQ Required:a. Prepare a variance analysis for direct materials and direct labor.b. Assume that all production overhead is fixed and that the $26,900 overapplied is the only overhead variance that can be computedWhat are the actual and applied overhead amounts?c. Complete the standard cost sheet for a device given below.Complete this question by entering your answers in the tabs below.Required A Required BAssume that all production overhead is fixed and that the $26,900 overapplied is the only overhead variance that can becomputed. What are the actual and applied overhead amounts?ActualAppliedOverheadRequired CShow Transcribed TextRequired A Required B Required C< Required ARequired:a. Prepare a variance analysis for direct materials and direct labor.b. Assume that all production overhead is fixed and that the $26,900 overapplied is the only overhead varlance that can be computed.What are the actual and applied overhead amounts?c. Complete the standard cost sheet for a device given below.Direct materials,Direct labor, 0.4 hours atComplete this question by entering your answers in the tabs below.Complete the standard cost sheet for a device given below.Note: Do not round intermediate calculations.Overhead, 0.4 hours atTotal costsĴounces at $2.80 per ounceper hourper hourRequired C >< Required BSper deviceper deviceper device30 per deviceRequired C >

Name: Do not give image format Copland Components manufactures an electronic
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Description: Do not give image format Copland Components manufactures an electronic device for vehicle manufacturing. The current standard cost sheet for a devicefollows:$? per device? per device? per device$ 30 per deviceAssume that the following data appeared i

Given information:> Standard price of material = $2.8 per ounce> total standard cost per unit…

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Required: a. Prepare a varlance analysis for direct materials and direct labor. b. Assume that all production overhead is fixed and that the $26,900 overapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts? c. Complete the standard cost sheet for a device given below.

Required: a. Prepare a varlance analysis for direct materials and direct labor. b. Assume that all production overhead is fixed and that the $26,900 overapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts? c. Complete the standard cost sheet for a device given below.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 1PB: Bobcat uses a traditional cost system and estimates next years overhead will be $800.000, as driven...

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Copland Components manufactures an electronic device for vehicle manufacturing. The current standard cost sheet for a device follows: Direct materials, ? ounces at $2.80 per ounce Direct labor, 0.4 hours at ? per hour Overhead, 0.4 hours at ? per hour Total costs $ ? per device ? per device ?per device $ 30 per device Assume that the following data appeared in Copland's records at the end of the past month: Actual production Actual sales Materials costs (505,000 ounces) Materials price variance Materials efficiency variance 96,000 units 90,000 units $ ? 63,000 U 70,000 U Direct labor price variance Direct labor (37,500 hours) Overapplied overhead (total) There are no materials Inventories. Required: 18,750 F 918,750 25,200 a. Prepare a variance analysis for direct materials and direct labor. b. Assume that all production overhead is fixed and that the $25,200 overapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts? c. Complete…
Copland Components manufactures an electronic device for vehicle manufacturing. The current standard cost sheet for a device follows: Direct materials, ? ounces at $2.80 per ounce Direct labor, 0.4 hours at ? per hour Overhead, 0.4 hours at ? per hour Total costs $ per device ? per device per device $ 30 per device Assume that the following data appeared in Copland's records at the end of the past month: Actual production Actual sales Materials costs (505,000 ounces) Materials price variance Materials efficiency variance Direct labor price variance Direct labor (37,500 hours) Overapplied overhead (total) There are no materials Inventories. Required: 96,000 units 90,000 units $ ? 63,000 U 70,000 U 18,750 F 918,750 25,200 a. Prepare a variance analysis for direct materials and direct labor. b. Assume that all production overhead is fixed and that the $25,200 overapplied is the only overhead varlance that can be computed. What are the actual and applied overhead amounts? c. Complete the…
Copland Components manufactures an electronic device for vehicle manufacturing. The current standard cost sheet for a device follows: Direct materials, ? ounces at $2.80 per ounce Direct labor, 0.4 hours at ? per hour Overhead, 0.4 hours at ? per hour Total costs $ ? per device ? per device ? per device $ 30 per device Assume that the following data appeared in Copland's records at the end of the past month: Actual production Actual sales 96,000 units 90,000 units Materials costs (505,000 ounces) $ ? Materials price variance 63,000 U Materials efficiency variance 70,000 U Direct labor price variance 18,750 F Direct labor (37,500 hours) Overapplied overhead (total) There are no materials Inventories. 918,750 25,200 Required: a. Prepare a variance analysis for direct materials and direct labor. b. Assume that all production overhead is fixed and that the $25,200 overapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts? c. Complete…
Acacia Manufacturing has compiled the following information from the accounting system for the one product it sells: $45 per unit Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) Required: a. Calculate the product costs per unit Note: Round your answer to 2 decimal places. b. Calculate the period costs for the period. $ 23,100 $ 8,400 Exercise 2-55 (Static) Components of Full Costs (LO 2-6) a. Product costs per unit b. Period costs $2 $ 13 $3 $9 21,000
Sunland Co. gathered the following information on power costs and factory machine usage for the last six months: Month January February March April May June (a) Power Cost $28,390 (b) 36,069 32,895 26,235 (c) 23,890 20,700 Your answer is correct. Variable power costs $ Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. eTextbook and Media Your answer is correct. Factory Machine Hours What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Fixed power costs $ eTextbook and Media 15,800 21,400 Total power cost $ 18,700 High 15,100 13,500 What is the estimated fixed power cost each month? 10,500 1.41 5,895 per factory machine hour Low 5,895 If it is estimated that 13,800 factory machine hours will be run in July, what is the expected total power cost for July?
The controller of Sandhill Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month January February March April May June Variable cost per machine hour Total Maintenance Costs Determine the variable-cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Determine the fixed cost components using the high-low method. Fixed costs $2,825 3,210 3,852 4,815 3,424 5,476 Total Machine Hours 3,740 4,280 6,420 8,453 5,350 8,560 $ $
The controller of Blossom Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs: Total Total Month Maintenance Costs Machine Hours January $2,750 2,850 February 3,150 4,400 March 4,000 6.250 April 4,520 8,250 May 3,320 5.000 June 5,693 8,300 (a1) Determine the variable-cost component using the high-low method. (Round answer to 2 decimal places e.g. 12.25.)
Sunland Co. gathered the following information on power costs and factory machine usage for the last six months: Power Cost Factory Machine Hours $28,390 15,800 36,069 21,400 32,895 18,700 ITT 26,235 15,100 23,890 13,500 20,700 Month January February March April May June Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. (a) Your answer is correct. What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Variable power costs $ (b) eTextbook and Media * Your answer is incorrect. 10.500 Fixed power costs What is the estimated fixed power cost each month? High 1.41 per factory machine hour 20,683 $ Low Attempts: 1 of 5 used
Wyckam Manufacturing Incorporated provided the following cost formulas for its manufacturing costs: Direct materials Direct labor Supplies Utilities Depreciation Insurance Fixed Cost Cost per per Month Machine-Hour $ 5.40 $ 42,900 $ 0.20 $ 1,700 $ 0.20 $ 14,700 $ 11,800 For example, utilities should be $1,700 per month plus $0.20 per machine-hour. The company expects to work 4,000 machine-hours in June. Note the company's direct labor is a fixed cost. Required: Prepare the company's planning budget for June. Wyckam Manufacturing Incorporated Planning Budget for Manufacturing Costs For the Month Ended June 30 Budgeted machine-hours Direct materials Direct labor Supplies Utilities Depreciation Insurance Total manufacturing cost $ 0
The controller of Ivanhoe Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month January February March April May June (a1) Total Maintenance Costs $3,041 3,456 4,147 5,184 3,686 5,633 Total Machine Hours 4,032 Variable cost per machine hour $ 4,608 6,912 9,101 5,760 9,216 Determine the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places e.g. 2.25.)
The controller of Cullumber Production has collected the following monthly cost data for analyzing the behavior of electricity costs. January February March April May June July August September October November December (a) Total Total Electricity Costs Machine Hours $2,480 2,900 Total fixed costs 3.520 4,780 3,220 5,000 4,090 3,810 5.110 4,270 3,320 5,840 Variable cost per machine hour $ 210 $ 340 500 685 420 750 650 510 Determine the fixed costs and unit variable costs using the high-low method. 675 600 340 770
Barkoff Enterprises, which uses the high-low method to analyze cost behavior, has determined that machine hours best explain the company's utilities cost. The company's relevant range of activity varies from a low of 600 machine hours to a high of 1,100 machine hours, with the following data being available for the first six months of the year: Month Utilities Machine Hours January $8,700 800 February 8,360 720 March 8,950 810 April 9,360 920 May 9,625 950 June 9,150 900 The variable utilities cost per machine hour for Barkoff is: Select one: a. $5.00. b. $4.50. c. $0.18 d. $5.50.e. None of the answers is correct.