Thomas is a cost accountant and business analyst for Dashing Design Company​ (DDC), which manufactures expensive brass doorknobs. DDC uses two​ direct-cost categories: direct materials and direct manufacturing labor. Thomas feels that manufacturing overhead is most closely related to material usage.​ Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used. At the beginning of 2017​, DDC budgeted annual production of 400,000 doorknobs and adopted the following standards for each​ doorknob: Input Cost/Doorknob Direct materials (brass) 0.3 lb. @ $11/lb. $3.30 Direct manufacturing labor 1.2 hours @ $15/hour 18.00 Variable manufacturing overhead $6/lb x 0.3 lb. 1.80 Fixed manufacturing overhead $14/lb. x 0.3 lb. 4.20 Standard cost per doorknob $27.30 Actual results for April 2017 were as​ follows: Production 31,000 doorknobs Direct materials purchased 12,700 lb. at $12/lb. Direct materials used 8,000 lbs. Direct manufacturing labor 29,700 hours for $653,400 1. For the month of​ April, compute the following​ variances, indicating whether each is favorable​ (F) or unfavorable​ (U). a. Direct materials price variance​ (based on​ purchases) b. Direct materials efficiency variance c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Variable manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. ​Production-volume variance h. Fixed manufacturing overhead spending variance 2. Can Thomas use any of the variances to help explain any of the other variances? Give examples.

Joker Ltd manufactures two products, Normal and Plus. It has recently implemented an activity-based costing system for its manufacturing overhead costs, with the budgeted activity cost and budgeted quantity of activity driver as follows:   Activity Budgeted Activity Cost Activity Driver Budgeted Quantity of Activity Driver Labour-related 205,000 Direct labour hours 41,000 Machine setups 227,000 Number of setups 5,000 General factory 340,000 Machine hours 34,000   772,000     The breakdown of the expected consumption of activities by the two products is as follows:     Normal Plus Labour-related 25,000 16,000 Machine setups 2,000 3,000 General factory 20,000 14,000   For the next accounting period, the expected production volume of Normal is 4,500 units and Plus is 3,000 units. Required:Calculate the overhead cost per unit of a Plus.

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Marigold has budgeted overhead costs of $973,350. It has allocated overhead on a plantwide basis to its two products (wool and cotton) using direct labor hours which are estimated to be 463,500 for the current year. The company has decided to experiment with activity-based costing and has created two activity cost pools and related activity cost drivers. These two cost pools are cutting (cost driver is machine hours) and design (cost driver is number of setups). Overhead allocated to the cutting cost pool is $370,800 and $602,550 is allocated to the design cost pool. Additional information related to these pools is as follows.   Wool Cotton Total Machine hours 103,000 103,000 206,000 Number of setups 1,030 515 1,545 What amount of overhead would be allocated to the wool and cotton product lines using the traditional approach, assuming direct labor hours were incurred evenly between the wool and cotton?     Wool product line Cotton product line Overhead Allocated $ $

Georgetown Metal Works produces two types of metal lamps. Georgetown manufactures 17,500 basic lamps and 6,160 designer lamps. Its activity-based costing system uses two indirect-cost pools. One cost pool is for setup costs and the other for general manufacturing overhead. Georgetown allocates setup costs to the two lamps based on setup labour-hours and general manufacturing overhead costs on the basis of direct manufacturing labour-hours. It provides the following budgeted cost information. (Click the icon to view the information.) Calculate the total budgeted costs of the basic and designer lamps using Georgetown' activity-based costing system. Begin by calculating the overhead rates for each of the two indirect-cost pools: setup costs and general manufacturing overhead. First select the formula; then enter the applicable amounts and calculate the rate. Begin with the overhead rate for set up costs. (Round the budgeted rate to the nearest dollar. Abbreviations used: MOH =…

The summarized balance sheets of Pharoah Company and Sheridan Company as of December 31, 2025 are as follows: Assets Liabilities Capital stock Retained earnings Total equities Assets Liabilities Capital stock Retained earnings Total equities Pharoah Company Balance Sheet December 31, 2025 O $444000. O $297000. O $345000. O $350000. Sheridan Company Balance Sheet December 31, 2025 $2000000 $220000 1000000 780000 $2000000 $1480000 $330000 990000 160000 $1480000 If Pharoah Company acquired a 30% interest in Sheridan Company on December 31, 2025 for $350000 and the equity method of accounting for the investment was used, the amount of the debit to Equity Investments (Sheridan) to record the purchase would have been

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ABC Company produces a line of watches. The company uses a normal costing system and allocates manufacturing overhead using direct manufacturing labor cost. The following data are for 2018: Budgeted manufacturing overhead cost Budgeted direct manufacturing labor cost Actual manufacturing overhead cost Actual direct manufacturing labor cost $150,000 $300,000 $142,000 $276,000 Inventory balances on December 31, 2018, were as follows: Direct manufacturing labor cost in ending balance Accounts Work in process Finish goods Ending Balance 205,000 30,360 256,000 55,200 Cost of goods sold 609,000 190,440 By using the (Write-off Approach) to adjust the under- or overallocated manufacturing overhead amount, what is the ending balance of "Cost of Goods Sold"? 1. O617,000. 2. O613,000. 3. O 620,000. 4. O 633,000. 5. ONone of the above. Next OType here to search

Since, the predetermined overhead rate and the budgeted factory overhead is given. We need to calculate the amount of the allocation base in order to know how Mystic Inc. computed its predetermined overhead rate for 2010. Equation to compute the Predetermined Overhead rate: Given: Predetermined Overhead rate = Predetermined rate: $4.25 per direct labor dollar Budgeted Factory Overhead: $1,275,000 Solution: $4.25 = ? = $300,000 = = $300,000 is the budgeted direct labor cost.

The Maclin Company uses a job-costing system at its Dover, Delaware, plant. The plant has a machining department and a finishing department. Maclin uses normal costing with two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department withmachine-hours as the allocation base and the finishing department with direct manufacturing labor costs as the allocation base). The 2017 budget for the plant is asfollows: Machining Department Finishing Department Manufacturing overhead costs $9,180,000 $8,181,000 Direct manufacturing labor costs $920,000 $4,050,000 Direct manufacturing labor-hours 34,000 150,000 Machine-hours 180,000 37,000 Question: 3. During the month of January, the job-cost record for Job 431 shows the following: Machining Finishing Department Department Direct materials used $14,500 $4,500 Direct manufacturing labor $700 $1,400 costs Direct manufacturing 30 70 labor-hours Machine-hours 130 15…