Calculate total direct costs and total indirect (MOH) costs. (Enter amounts in thousands) Total direct cost $_________ Total indirect (MOH) cost $_______
Q: Proctoring Enabled Exam 2 Version AO 3 Saved Mitchell uses a perpetual Inventory system. Mitchell…
A: In accounting, a journal entry is a record of a transaction by debiting and crediting the accounts…
Q: On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:…
A: These are the journal entries that are required to be prepared by a company to prepare its…
Q: The machining division of Cullumber International has a capacity of 2, 100 units. Its sales and cost…
A: Variable cost depends on the activity level of the company. There is a linera realtion between…
Q: Assume that Sivart Corporation has 2022 taxable income of $1,750,000 for purposes of computing the…
A: It is the amount of reduction in the value of a tangible fixed asset due to tear and wear,…
Q: Selected transactions for Carla Vista Corporation during its first month in business are presented…
A: Accounting equation refers to that equation which represents the relation between the assets,…
Q: Required: Using the company's activity-based costing system, compute the customer margin of Big Sky…
A: ACTIVITY-BASED COSTINGActivity-based costing is one of the methods used to allocate the overheads to…
Q: On January 1, 2021, Ameen Company purchased major pieces of manufacturing equipment for a total of…
A: The amount of tax that has not yet been paid but will be paid in the future is known as the deferred…
Q: The following is information for Palmer Company. Cost of goods sold Ending inventory Year 3 $…
A: Inventory Turnover Ratio: It refers to a financial ratio that determines or measures the company's…
Q: Supler Corporation produces a part used in the manufacture of one of its products. The unit product…
A: The objective of the question is to determine the cost savings per unit if the company decides to…
Q: Pharoah Company applies manufacturing overhead based on direct labor hours. Information concerning…
A: The predetermined overhead rate is a fixed hourly rate used to allocate manufacturing overhead costs…
Q: Miller Toy Company manufactures a plastic swimming pool at Its Westwood Plant. The plant has been…
A: Variance analysis is a method to calculate the difference between the budget values and actual…
Q: Q1: Using Figure 1 plus the additional information below, supplied by the accountants at INEOS…
A: Depreciation refers to the expense which is evaluated to reduce the purchase cost of the fixed asset…
Q: am. 123.
A: The overhead rate is a cost that is allocated to the product or service at the time of production.…
Q: The city is installing a new swimming pool in the east end recreation centre. One design being…
A: The objective of the question is to calculate the present worth of the costs associated with the…
Q: 2. An audio equipment manufacturer produced and sold 725 sound systems and made a net income of $50,…
A: Break-even point is the point of sales at which contribution margin is equal to total fixed cost and…
Q: Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of…
A: Whenever a credit sale is made, there is some possibility of not getting the money from receivables.…
Q: Current Attempt in Progress Splish College provides its own housekeeping services. The College…
A: To determine whether Splish College should outsource housekeeping, we need to compare the total cost…
Q: Current Attempt in Progress The following is selected information from Waterway Corporation for the…
A: Based on accrual basis of accounting income and expenses are recognised during the period in which…
Q: Jake's Auto Repair received a $3,000, 90 day, 10 % promissory note from Samantha in exchange for…
A: A journal entry is a beginning record- keeping entry made into the account system of a business to…
Q: Basel uses the high-low method of estimating costs. Basel had total costs of $50,000 at its lowest…
A: High-Low method of costing :The high-low method of estimating costs is a widely used technique in…
Q: For a recent year, McDonald's (MCD) company-owned restaurants had the following sales and expenses…
A: The contribution margin is calculated as the difference between the sales and variable costs. The…
Q: Steinar loaned a friend $9,500 to buy some stock 3 years ago. In the current year the debt became…
A: The basic rule states that there is a $3,000 maximum deduction for non-business capital gain.…
Q: On December 1, Cheyenne Furniture Corporation borrowed $8,800 on a 90-day, 15% note. Prepare the…
A: Notes payable are the liabilities noted in the business records when borrowing is made from outside…
Q: Required information [The following information applies to the questions displayed below.] Autumn…
A: Journal entries are made to record the transactions as the first process in the books of accounts…
Q: AMP Corporation (calendar-year-end) has 2023 taxable income of $1,900,000 for purposes of computing…
A: For the year 2023, the maximum amount of deduction u/s 179 that AMP may claim is $1,160,000. The…
Q: Blossom Company purchased a delivery truck for $48,000 on July 1, 2025. The truck has an expected…
A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…
Q: Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate…
A: The total manufacturing cost of a product includes the direct material cost, direct labor cost, and…
Q: The TVX Partnership, formed in 2017, owns several office rental buildings. Selected year-end…
A: partnership firm:A type of business structure where two or more individuals, known as partners, join…
Q: d. Novera, Limited reported the following physical units in work-in-process inventory for July in…
A: Equivalent units means where the some goods remain incomplete at the end of process and we need to…
Q: Imperial Jewelers manufactures and sells a gold bracelet for $409.00. The company's accounting…
A: Variable costs are those costs which change along with changes in activity levels. Fixed costs do…
Q: Alsup Consulting sometimes performs services for which it receives payment at the conclusion of the…
A: A deferred tax liability is a balance sheet item that represents the future tax consequences of…
Q: Connors Corporation acquired manufacturing equipment for use in its assembly line. Below are four…
A: Common Stock -A share of ownership in a firm represented by common stock. The percentage is…
Q: Required information [The following information applies to the questions displayed below.] Beech…
A: Financial statements are written documents that are prepared using financial records of the company.…
Q: Item3 Item 3 Feldmann Corporation permits any of its employees to buy shares directly from the…
A: Pre-Tax Earnings: These can be defined as the leftover income of the business after providing for or…
Q: st and leave the corresponding number entry box blank. Enter account decreases and cash outflows as…
A: Financial statement:The financial statement is the statement or the record that is prepared by the…
Q: The following information is available for Carla Vista Corporation for 2025. 1. 2. 3. Depreciation…
A: if a company recognizes revenue for accounting purposes in one period but for tax purposes in a…
Q: Sunland Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales…
A: Lets understand the basics.Management prepares budget in order to estimate future profit and…
Q: On July 5, Feather Company recorded sales of merchandise inventory on account, $20,000. The sales…
A: The journal entries are prepared to record the transactions on a regular basis. The sales tax…
Q: Use the following information to calculate the value of inventory on hand on April 30 and issue…
A: Inventory valuation is based on the method of flow used by the organization. It can be the first in…
Q: Required: 1. What is the standard labor-hours allowed (SH) to makes 19,000 Jogging Mates? 2. What is…
A: The main purpose of Standard costing is to compare your actual performance with these standards and…
Q: Alsup Consulting sometimes performs services for which it receives payment at the conclusion of the…
A: Deferred tax liability: The deferred tax liability is created when the taxes to be paid as per…
Q: the missing amount in the accounting equation for each business. Assets Liabilities Owner's Equity…
A: Lets understand the basics.As per balance sheet equation, total assets are always equal to total…
Q: 68. How much is to be included in the gross estate from the proceeds of life insurance? MoonLife…
A: Gross estateThe value of all the assets and property of a person or individual at the time of death…
Q: Oswego Clay Pipe Company sold $46,000 of pipe to Southeast Water District 45 on April 12 of the…
A: The objective of the question is to determine the correct journal entry that Oswego Clay Pipe…
Q: On January 1, 2024, a Company adopted the dollar-value LIFO method for its one inventory pool. The…
A: The ending inventory comprises the cost of units that are not sold yet. Using dollar value LIFO…
Q: Paulis Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one…
A: Revenue and spending variance is the difference between actual results and flexible budget data.…
Q: Required: If Woodstock Binding outsources the IT Department functions, what is the maximum it can…
A: Outsourcing-The business practice of hiring a party outside a company to perform services or create…
Q: At Bargain Electronics, it costs $30 per unit ($20 variable and $10 fixed) to make an MP3 player…
A: The differential analysis is performed to compare the different alternatives available with the…
Q: The following data relating to direct materials cost for October of the current year are taken from…
A: Variance Analysis : Analysis of a differences between planned and actual behavior. After analyzing…
Q: Gibson Corporation, which has three divisions, is preparing its sales budget. Each division expects…
A: Lets understand the basics.Management prepares budget in order to estimate future profit and loss…
1. Calculate total direct costs and total indirect (MOH) costs. (Enter amounts in thousands)
Total direct cost $_________
Total indirect (MOH) cost $_______
2. Assume Dwifty used a budgeted MOH rate to apply MOH costs, and the total cost applied this year is $289,000. How much did the company under-or overapply for its MOH costs?
MOH costs was _______________(underapplied, overapplied, not over/underapplied by $_______________.
Step by step
Solved in 4 steps
- The related data of Megan Company: Ending Beginning Raw materials P78,500 P69,200 Work in process 500,200 355,500 Finished goods 285,700 312,700 The Cost of goods manufactured is P1,317,200. The entity purchased P500,000 raw materials during the year, of which 20% is an indirect material. How much are the direct materials used?The Information bellow has taken from Al Rshad company Wages paid to labour: OMR. 70,000 Purchases raw material OMR 210000 Purchase Return: OMR10000 Factory on cost - 10% of prime cost opening stock raw material OMR25000 closing stock work in process OMR10000 The cost of good manufactured isQ8 Read the following Case and write appropriate answer with calculation related to case A product is manufactured as a result of two processes, A and B. details of process B for the month of august were as follow: Particulars Rs Materials transferred from process A 10,000 kg valued at Rs.40,500 Labor Costs 1,000 hours valued Rs.5.616 Overheads 50% of labor cost Output transferred to finished goods 8000 kg Closing work in progress 900 kg Normal loss is 10% of input and losses do not have scrap value. Closing work in progress is 100% complete for material, and 75% complete for both labor and overheads. i)What is the value of the abnormal loss in Rs? Nil 489 544 546 12. ii) What is the value of the output (finished units) nearest to Rs? Rs.43,977 Rs.39,139 Rs.43,488 Rs.43,680 iiI) What are the equivalent units of production as to material and labor & overheads in August? Material…
- The following information taken from Jejai Limited: Particulars DebitRM CreditRMPurchase of raw materials 258,000Fuel and light 21,000Administration salaries 17,000Factory wages 59,000Carriage outwards 4,000Rent and business rates 21,000Sales 482,000Return inward 7,000General office expenses 9,000Repairs to plant and machinery 9,000Inventory at 1 January 2020:Raw materialsWork in processFinished goods 21,00014,00023,000 Sundry accounts payable 37,000Capital 457,000Freehold premises 410,000Plant and machinery 80,000Accounts receivable 20,000Accumulated provision for depreciation on plant andmachinery 8,000 Cost in hand 11,000 TOTAL 984,000 984,000 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information:i. Inventory in hand at 31 December 2020:a. Raw materials RM25,000b. Work in process RM11,000c. Finished goods RM26,000ii. Depreciation of 10% on plant and machinery using the straight-line methodiii. 80% of fuel and light and 75% of rent and rates to be charged to…The Information bellow has taken from Al Wafa company wages paid to labour: OMR85,000, Purchases raw material OMR 230000, purchases return: OMR5,000, factory on cost 10% of prime cost.Opening stock work in progress OMR54000, closing stock work in progress OMR 45000, opening stock raw material OMR50000 and closing stock raw material OMR32000.The cost of good manufactured is: a. OMR364200 b. None of the options c. OMR369800 d. OMR332200(Management Accounting) Bonneville Company is producing a subassembly used in the production of a product. The costs incurred for the subassembly follow: Per Unit Direct materials $6.00 Direct labor 4.00 Variable factory overhead 1.00 Fixed supervisor salary 3.00 Depreciation expense on factory equipment 2.00 General fixed factory overhead allocated 5.00 Total costs $21.00 The above per unit costs are based on 8,000 units. An outside supplier will provide 8,000 subassemblies for $19 per unit. The supervisor will be terminated if the subassemblies are not produced in house. The idle factory will be used to manufacture…
- Accounting for Manufacturing Concern The following data from the just completed year are taken from the accounting records of Kenton Company:Sales$ 975,000Direct labor cost $ Selling expense $ Manufacturing overhead applied to work in process $Inventories:Work in process $165,000 48,750 180,000Beginning 20,000 $Ending 14,750Raw material purchases$ 229,000Administrative expenses$ 146,250Actual manufacturing overhead costs$ 175,050Raw materials$ 18,000$ 17,500Finished goods$ 9,000$ 11,000Required:1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.2. Prepare a schedule of cost of goods sold. Assume that the company’s underapplied or overapplied overhead is closed to Cost of Goods Sold.3. Prepare an income statement.Support Department Cost Allocation—Sequential Method Snowy River Stallion Inc. produces horse and rancher equipment. Costs from Support Department 1 are allocated based on the number of employees. Costs from Support Department 2 are allocated based on asset value. Relevant department information is provided in the following table: Support Department 1 SupportDepartment 2 ProductionDepartment 1 ProductionDepartment 2 Number of employees 9 7 25 18 Asset value $1,150 $670 $6,230 $5,100 Department cost $20,000 $15,500 $99,000 $79,000 Using the sequential method of support department cost allocation, determine the total costs from Support Department 1 (assuming they are allocated first) that should be allocated to Support Department 2 and to each of the production departments. SupportDepartment 2 ProductionDepartment 1 ProductionDepartment 2 Support Department…Support Department Cost Allocation—Sequential Method Snowy River Stallion Inc. produces horse and rancher equipment. Costs from Support Department 1 are allocated based on the number of employees. Costs from Support Department 2 are allocated based on asset value. Relevant department information is provided in the following table: Support Department 1 SupportDepartment 2 ProductionDepartment 1 ProductionDepartment 2 Number of employees 9 7 25 18 Asset value $1,150 $670 $6,230 $5,100 Department cost $20,000 $15,500 $99,000 $79,000 Using the sequential method of support department cost allocation, determine the total costs from Support Department 1 (assuming they are allocated first) that should be allocated to Support Department 2 and to each of the production departments. SupportDepartment 2 ProductionDepartment 1 ProductionDepartment 2 Support Department…
- Profile Productivity Measurement Objective In 20x2, Choctaw Company implements a new process affecting labor and materials. The following reported data are provided to evaluate the effect on the company’s productivity: 20x1 20x2 Number of units produced 660,000 480,000 Labor hours used 220,000 120,000 Materials used (lbs.) 1,885,714 1,200,000 Required: 1. Calculate the productivity profile for 20x1. If required, round your answers to two decimal places. Partial Operational Productivity Ratios 20x1 Profile Labor productivity ratio fill in the blank 1 Material productivity ratio fill in the blank 2 2. Calculate the productivity profile for 20x2. If required, round your answers to two decimal places. Partial Operational Productivity Ratios 20x2 Profile Labor productivity ratio fill in the blank 3 Material productivity ratio fill in the blank 4 3. What if the labor hours used in 20x2 were 157,500? What does comparison of the 20x1 and 20x2 profiles…Manufacturing, Nonmanufacturing; Prime Costs, Conversion Costs The following is a list of manufacturing costs incurred by Eros Manufacturing Co. during April:Direct materials used ......................................P154,800Indirect materials used ...................................... 63,000Direct labor employed ........................................ 392,500Indirect labor employed ...................................... 175,300Utilities expense - factory .................................. 91,200Rent expense - factory ...................................... 140,800Depreciation expense - factory equipment ....... 82,000 1. Calculate the factory overhead cost incurred. 2. Calculate the direct manufacturing costs for the month of April. 3. How much is the conversion cost?Given the following costs incurred in a recent period: Direct materials - P33,000 Depreciation on factory equipment - P12,000 Factory janitor’s salary - P23,000 Direct labor - P28,000 Utilities for factory - P9,000 Selling expenses - P16,000 Production supervisor’s salary - P34,000 Administrative expenses - P21,000. Determine the following values: • period cost • product cost • operating expenses