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- Irish Corp provides for an incentive scheme for its factory workers which features a combined minimum guarar wage and a piece rate. Each worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Production report the week show: Employee Name Units Produced Irene 70 Aileen 90 Julius 80 Harold 65 What is the amount of the weekly payroll that should be charged to the factory overhead control account? O P4,000 O P60,000 O P1,000 O P3,000Barcoo Pty Ltd employs five (5) employees in its factory. GALLAGHER spends half his time delivering finished goods for the sales department. Half of the wages are paid by the sales department. All accounts are in a single ledger. The following pay information relates to the week ended 11 June 2010. Each employee normally works a 40 hour week. Any hours in excess of 40 are paid as overtime (at 1½ times the normal hourly rate). The supervisor is paid $20 per hour, and the remaining four employees $16 per hour. The time sheet summary for the week to 8 June 2007 shows: Employee Hours Total Chong Supervision 40 Dashwood Job 01 36 Cleaning 6 42 Edwards Job 01 22 Job 02 20 42 Ftelianos Job 02 28 Sick leave 4 Maintenance 8 40 Gallagher Materials store 40 204…ABD Corporation operates sales, administrative, and printing activities from a facility in the South. It prints and sells a variety of products. The following selected costs relate to the firm's acivities and particularly to the factory's Printing Department. 1 Production paper used in Printing Department 2 Hourly wages of production personnel in Printing Department 3 Factory property taxes and insurance 4 Supplies used which changes with printing volume in Printing Department 5 Contract signed by Printing Department manager for an annual maintenance fee on special machinery 6 Equipment depreciation in Printing Department 7 Building depreciation 8 Sales commissions 9 Advertising contract costs for a special program 10 Annual computer staff; uses the same staff level all year - half for factory operations, including the Printing Department, and half for administrative work Required: Based on reasonable assumptions about ABD Corporation, classifiy each cost as: а. variable or fixed cost…
- On September 25, a hurricane destroyed the work in process inventory of Biloxi Corporation. At that time, the company was in the process of manufacturing two custom jobs (B325 and Q428). Although all of Biloxi's on-site accounting records were destroyed, the following information is available from some backup off-site records. • Biloxi Corp. applies overhead at the rate of 85 percent of direct labor cost. • The cost of goods sold for the company averages 75 percent of selling price. Sales from January 1 to the date of the hurricane totaled $2,237,200. • The company's wage rate for production employees is $18.06 per hour. A total of 25,760 direct labor hours were recorded from January 1 through September 25. • As of September 25, $30,772 of direct material and 128 hours of direct labor had been recorded for Job B325. Also at that time, $20,580 of direct material and 240 hours of direct labor had been recorded for Job Q428. • January 1 inventories (of the current year) were as follows:…The Bunker Manufacturing firm has five employees and six machines and wants to assign the employees to the Machines to minimize cost. A cost table showing the cost incurred by each employee on each machine follows: Machine Employee A B C D E F 1 $12 $7 $20 $14 $8 $10 2 10 14 13 20 9 11 3 25 3 6 9 7 10 4 9 11 7 16 9 10 5 10 6 14 8 10 25 Because of union rules regarding departmental transfers, employee 3 cannot be assigned to machine E, and employee 4 cannot be assigned to machine B. Solve this problem, indicate the optimal assignment, and compute total minimum cost?Mr. Mazin is a production manager in Al Rawa Manufacturing & Trading LLC. During the month of January 2021, Al Rawa Manufacturing received an order from a customer. The order has been processed and the finished goods are transferred to the stores. During the production, in one process there was a normal loss of 50 units & abnormal loss of 75 units, the total cost incurred in the process was RO 10,000, the normal loss is estimated at RO 80 per unit, abnormal loss value was estimated at RO 3,000. The production manager requested you to estimate the number of input units issued to the process. a. 225 units b. 200 units c. 250 units d. 275 units
- Shannon Sharpe owns and operates three Frazer Speedo outlets in Columbus, OH. Frazer Speedo is an oil and lubrication service outlet - one of many outlets popular throughout the Midwest. The Frazer Speedo outlets also change transmission and power steering fluids. In May, purchases of materials equaled $80,000, the beginning inventory of materials was $47,300, and the ending inventory of materials was $15,250. Payments to direct labor during the month totaled $63,000. Overhead incurred was $110,000. The Columbus outlet also spent $5,000 on advertising during the month. A franchise fee of $2,000 per outlet is paid every month. Revenues for May were $400,000 What is the Prime Cost for May ? O $80,000 O $143,000 $175,050 O $110,000Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor cost. The standard labor cost for a motor tune-up is given below: Motor tune-up Standard Hours 2.50 Standard Rate Standard Cost $ 29.00 $ 72.50 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 54 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance $ 120 F Labor spending variance $ 170 U Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly pay rate for tune-ups last week. Note: Round your answer to 2 decimal places. 1. Actual labor hours 2. Actual hourly rate hours per hourHighlander Cutlery manufactures kitchen knives. One of the employees, whose job is to cut out wooden knife handles, worked 48 hours during a week in January. The employee earns $12 per hour for a 40-hour week, and overtime is paid after 40 hours. For additional hours, the employee is paid an overtime rate of $18 per hour. The employee’s time was spent as follows: Regular duties involving cutting out knife handles..................................38 hoursGeneral shop cleanup duties..............................................................................9 hoursIdle time due to power outage..........................................................................1 hour 2. Total cost of wages: $624 Required:1. Calculate the total cost of the employee’s wages during the week described above.2. Determine the portion of this cost to be classified in each of the following categories:a. Direct laborb. Manufacturing overhead (idle time)c. Manufacturing overhead (overtime premium)d.…
- On November 2, Newsprint Manufacturing purchases 5 rolls of paper on account at $125 per roll for use within the production process. On November 5, 4 rolls of this paper are issued to Job 157A in the Printing Department. The Printing Department applies $675 in direct labor and $1,150 of factory overhead to Job 157A. On November 8, Printing transfers Job 157A to the Folding Department. The Folding Department applies $450 in direct labor and $655 in factory overhead to Job 157A. Job 157A is transferred to Finished Goods inventory on November 9. If an amount box does not require an entry, leave it blank.On November 2, Newsprint Manufacturing purchases 5 rolls of paper on account at $125 per roll for use within the production process. On November 5, 4 rolls of this paper are issued to Job 157A in the Printing Department. The Printing Department applies $675 in direct labor and $1,150 of factory overhead to Job 157A. On November 8, Printing transfers Job 157A to the Folding Department. The Folding Department applies $450 in direct labor and $655 in factory overhead to Job 157A. Job 157A is transferred to Finished Goods inventory on November 9. If an amount box does not require an entry, leave it blank. a. Journalize the entry to record the purchase of the paper. Nov. 2 fill in the blank 25f274088fc5f83_2 fill in the blank 25f274088fc5f83_3 fill in the blank 25f274088fc5f83_5 fill in the blank 25f274088fc5f83_6 b. Journalize the entries to record (1) the transfer of raw materials to work in process, (2) the application of direct labor, and (3) the…Shannon Sharpe owns and operates three Frazer Speedo outlets in Columbus, OH. Frazer Speedo is an oil and lubrication service outlet - one of many outlets popular throughout the Midwest. The Frazer Speedo outlets also change transmission and power steering fluids. In May, purchases of materials equaled $80,000, the beginning inventory of materials was $47,300, and the ending inventory of materials was $15,250. Payments to direct labor during the month totaled $63,000. Overhead incurred was $110,000. The Columbus outlet also spent $5,000 on advertising during the month. A franchise fee of $2,000 per outlet is paid every month. Revenues for May were $400,000 What is the TotalCost for May ? $173,000 O $285,050 O $175,050 O $400,000