The following information pertains to the JAG Corporation for the month of July 100,000 units were sold in July at a selling price per unit of $24. The standard unit manufacturing costs for the month were: VCU FCU Total Mfg cost per unit elling and administrative costs for the month were: VCU Total fixed costs $12 4 $16 $5 $400,000 unit rate for fixed manufacturing costs is a predetermined rate based on a capacity level of 150,000 units month. Production for July was 45.000 units less than sales. Ending inventory on June 30 consisted of 00 units. Actual fixed manufacturing costs were $600,000.

The following is a summary of costs related to a month of manufacturing products: Direct Materials and Direct Labor = $225,000.00 Indirect Materials, Indirect Labor, and other actual FOH costs = $30,000.00 FOH costs applied to WIP during the month = $17,000.00 From the following, select the journal entry used to record the FOH applied to production during the month. Group of answer choices a) Debit FOH 17,000 and Credit WIP 17,000 b) Debit WIP 30,000 and Credit FOH 30,000 c) Debit FOH 30,000 and Credit Accounts Payable 30,000 d) Debit WIP 17,000 and Credit FOH 17,000

Sheridan Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (8 pounds at $3.30 per pound) Direct labor (1 hours at $12.00 per hour) $26.40 $12.00 During the month of April, the company manufactures 240 units and incurs the following actual costs. Direct materials purchased and used (2,300 pounds) $8,050 Direct labor (280 hours) $3,304 Compute the total, price, and quantity variances for materials and labor. Total materials variance $ Materials price variance $ Search

A department had the following information for the month:                Total materials costs     P45,000                Conversion cost per unit     P3.00                Total manufacturing cost per unit     P5.50           What are the equivalent units of production for materials?

Alpesh

Thompson Company uses a standard cost system for its single product. The following data are available: Actual experience for the year: Purchases of raw materials (15,000 yards at $13): $ 195,000 Raw material used in production: 12,000 yards Direct labor costs (10,200 hours at $10): $ 102,000 Units produced: 12,600 Standards per unit of product: Raw materials: 1.1 yards at $15 per yard Direct labor: 8 hours at $9.50 per hour    What is the materials price variance for the year?    What is the materials quantity variance for the year?

Elfalan Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 51,000 units per month is as follows:   Per Unit Direct materials $ 48.10 Direct labor $ 9.20 Variable manufacturing overhead $ 2.20 Fixed manufacturing overhead $ 19.50 Variable selling & administrative expense $ 4.00 Fixed selling & administrative expense $ 19.00 The normal selling price of the product is $108.10 per unit. An order has been received from an overseas customer for 3,100 units to be delivered this month at a special discounted price. This order would not change the total amount of the company's fixed costs. The variable selling and administrative expense would be $2.30 less per unit on this order than on normal sales. Direct labor is a variable cost in this company. Suppose there is ample idle capacity to produce the units required by the overseas customer and the special discounted price on…

Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product It manufactures. Direct materials (15 lbs. @ $4 per lb.) Direct labor (2 hrs. @ $15 per hr.) During May the company incurred the following actual costs to produce 8,100 units. Direct materials (125,300 lbs. @ $3.80 per lb.) Direct labor (20,400 hrs. @ $15.10 per hr.). AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate AQ - Actual Quantity SQ - Standard Quantity = AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no varlance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no varlance. Round "Rate per hour" answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. 0 $60…

The table below shows monthly data collected on production costs and on the number of units produced over a twelve month period. Month Total Production Costs Level of Activity (Units Produced) July $ 230,000 3,500 August 250,000 3,750 September 260,000 3,800 October 220,000 3,400 November 340,000 5,800 December 330,000 5,500 January 200,000 2,900 February 210,000 3,300 March 240,000 3,600 April 380,000 5,900 May 350,000 5,600 June 290,000 5,000 Required: Determine the variable cost per unit and the fixed cost using the high-low method. What is the equation of the total mixed cost function? Prepare the scatter diagram, clearly showing any outliers Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units. In view of the department’s cost behaviour pattern, which of the two methods appear more appropriate?…

Bramble Company produced 20, 300 units and sold 18, 060 during the current year. Under absorption costing, net income was $25,900. Fixed overhead was $162, 400. Determine the net income under variable costing. (Round per unit calculations to 2 decimal places, eg. 15.25 and final answer to O decimal places, eg. 125.)