Font Paragraph StylesEditingDictate SensitivityEditor Add-insPasteRead onreMarkableVlipboardStylesVoiceSensitivityEditorAdd-insreMarkableNILAND COMPANY-MACHINING DEPARTMENTFlexible Production BudgetFor the Three Months Ending March 31January FebruaryUnits of productionWagesUtilitiesDepreciationTotalSupporting calculations:Units of productionHours per unitTotal hours of productionWages per hourTotal utilitiesTotal hours of productionUtility costs per hourTotal utilitiesMarchJanuaryFebruaryMarchPage 4 of 6524 words W Text Predictions: OnAccessibility: InvestigateFocus 80a35°FClear AutoSaveOff CFW9-Budgeting Exercis...A Spencer R SchultzHomeInsert DrawDesign LayoutReferencesMailingsReviewViewHelpXĄrMFont ParagraphStylesEditingSensitivityDictateEditor Add-insRead onCereMarkable-oard 5StylesVoiceSensitivityEditorAdd-insSREditingreMarkableThe production supervisor of the Machining Department for Niland Company agreed to thefollowing monthly static budget for the upcoming year:Niland CompanyMachining DepartmentMonthly Production BudgetWagesUtilitiesDepreciationTotal$274,00020,00034,000$328,000The actual amount spent and the actual units produced in the first three months in theMachining Department were as follows:AmountSpentUnitsProducedJanuary $310,00067,000February 296,00061,000March283,00055,000。The Machining Department supervisor has been very pleased with this performance becauseactual expenditures for January-March have been less than the monthly static budget of$328,000.However, the plant manager believes that the budget should not remain fixed for every monthbut should "flex" or adjust to the volume of work that is produced in the Machining Department.Additional budget information for the Machining Department is as follows:Wages per hourUtility cost per direct labor hourDirect labor hours per unitPlanned monthly unit production$15.00$1.100.2573,000a. Prepare a flexible budget for the actual units produced for January, February, and March inthe Machining Department. Assume that depreciation is a fixed cost. Enter all amounts aspositive numbers. If required, use per unit amounts carried out to two decimal places.ge 3 of 6524 wordsText Predictions: OnAccessibility: InvestigateFocus+100%35°FClearQ Search

FLEXIBLE BUDGETA flexible budget is a budget that is prepared for different levels of activity or…

Font Paragraph Styles Editing Dictate Sensitivity Editor Add-ins Paste Read on reMarkable V lipboard Styles Voice Sensitivity Editor Add-ins reMarkable NILAND COMPANY-MACHINING DEPARTMENT Flexible Production Budget For the Three Months Ending March 31 January Units of production Wages Utilities Depreciation Total Supporting calculations: Units of production Hours per unit Total hours of production Wages per hour Total utilities Total hours of production Utility costs per hour Total utilities February March January February March Page 4 of 6 524 words W Text Predictions: On Accessibility: Investigate Focus 80 35°F Clear

Font Paragraph Styles Editing Dictate Sensitivity Editor Add-ins Paste Read on reMarkable V lipboard Styles Voice Sensitivity Editor Add-ins reMarkable NILAND COMPANY-MACHINING DEPARTMENT Flexible Production Budget For the Three Months Ending March 31 January Units of production Wages Utilities Depreciation Total Supporting calculations: Units of production Hours per unit Total hours of production Wages per hour Total utilities Total hours of production Utility costs per hour Total utilities February March January February March Page 4 of 6 524 words W Text Predictions: On Accessibility: Investigate Focus 80 35°F Clear

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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CengageNOWv2 | Online teachin x * Cengage Learning + n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook E Print Item Equivalent Units of Production: Weighted Average Cost Method The following information concerns production in the Finishing Department for May. The Finishing Department uses the weighted average cost method. ACCOUNT Work in Process-Finishing Department ACCOUNT No. Balance Date Item Debit Credit Debit Credit May 1 Bal., 25,400 units, 70% completed 101,600 31 Direct materials, 124,500 units 303,780 405,380 31 Direct labor 188,300 593,680 31 Factory overhead 191.400 785,080 31 Goods transferred, 132,100 units 755,612 29,468 31 Bal., 2 units, 30% completed 29,468 a. Determine the number of units in work in process inventory at the end of the month. units b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May. Whole units units Equivalent units of…
TASK A. Problem Solving. Analyze the given problems and use the worksheet provided for your answers. 1) Amore Companyproducestwoproductsinasinglefactory.Thefollowingproductionandcostinformationhasbe endetermined: Model1 1,000 100 Model2 200 Unitsproduced Materialmoves(total) Testingtime(total) Directiaborhoursperunit 40 250 125 Thecontrollerhasdetermined totaloverhead to beP480,000.P140,000relatestomateriaimoves;P150,000relatestotesting;theremainderisr elatedtolabortime. a) If Amore uses direct labor hours to allocate overhead to ach model, what would overhead per unit be for Model 2? b) If Amore uses activity-based costing to allocate overhoad to each model, what would overhead per unit be for Model 2? 2) GLPower Company manufactures a line of high-end laundry equipment. The accountant has proposed changing from a traditional costing syslem to an activity-based costing system. The president is not convinced of making the changes, so he requests that the next large order for equipment…
CengageNOWv2 | Online teachin x A v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false Assignment 7b: Chapter 23 Exercises eBook E Print Item Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc, processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6.400 units of product were as follows: Standard Costs Actual Costs Direct materials 8,300 lb. at $4.70 8,200 Ib. at $4.50 Direct labor 1,600 hrs. at $18.70 1,640 hrs. at $18.90 Factory overhead Rates per direct labor hr. based on 100% of normal capacity of 1,670 direct labor hrs.: Variable cost, $3.40 $5,390 variable cost Fixed cost, $5.40 $9,018 fixed cost Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.…
1. Assign Overhead Costs to Activity Cost Pools 国日 First-Stage Allocation to Activity Cost Pools - Excel Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri -A A 10 Paste BIU - A - Alignment Number Conditional Format as Cell Cells Formatting - Table - Styles - Clipboard Font Styles A1 fx A C E F G 1 == 2 Total costs and distribution of resource consumption across activity cost pools: 3 4 Activity Cost Pools Customer Product Customer Total Cost Orders Development Relations Other Total 6 Production Department: 7 Indirect factory wages $ 400,000 50% 30% 15% 5% 100% Factory equipment depreciation Factory utilities 10 Factory property taxes and insurance 8 150,000 55% 30% 0% 15% 100% 9 120,000 59% 34% 0% 7% 100% 75,000 57% 33% 0% 10% 100% 11 12 General Administrative Department: Administrative wages and salaries Office equipment depreciation 13 275,000 20% 10% 40% 30% 100% 14 40,000 32% 16% 15% 37% 100% 15 Administrative property taxes and insurance 60,000 0% 0% 0% 100%…
b My Questions | bartleby PoF ACCT3039-Unit 4.pdf O Unit 4 -Discussion Question 303 x + PDF A marl File | C:/Users/Ronnick%20Douglas/OneDrive/Desktop/Advanced%20Manage. ... Activity-Based Costing, Traditional Costing 1. The controller for Mitchell Supply Company has established the following overhead cost pools and cost drivers: Overhead Cost Pool Machine setups Material handling Quality control inspection Other overhead costs Total Budgeted Overhead Cost $150,000 52,500 37,500 90.000 $330.000 Cost Driver Number of setups Units of raw material Number of inspections Machine hours Overhead Cost Pool Machine setups Material handling Quality control Other overhead Budgeted Level for Cost Driver 100'setups 50,000 units 1,000 inspections 15,000 machine hours Overhead Rate $1,500 per setup $1.05 per unit $37.50 per inspection $6 per machine hour Order no. 610 has the following production requirements: Machine setups Raw material Inspections Machine hours 5 setups 10,000 units 12 inspections…
docs.google.com/forms/d/e Q 1/ Answer The Following Questions * :Cost objects include .1 products customers departments All of above answers are correct. The general term used to identify both .2 the tracing and the allocation of * :accumulated costs to a cost object is cost accumulation cost assignment cost tracing conversion costing :Budgeted costs are .3 II
oad Assignment: Module 4 E x * CengageNoWv2 | Online teachin x cakeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionlocator=&inprogress-false eBook Show Me How Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item Balance Debit Credit Debit Credit Mar. 1 Bal., 7,500 units, 2/5 completed 15,750 31 Direct materials, 135,000 units 243,000 258,750 31 Direct labor 69,670 328,420 31 Factory overhead 39,194 367,614 31 Goods finished, 136,800 units 355,530 12,084 31 Bal. ? units, 2/5 completed 12,084 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during March 4. Cost of units…
in Course ACCT 3121.2711,ACC apters 9-10 i lucation.com extemap-ir de sim2_com-consexternal browser=0&launchUrl=https": Sales revenue Direct materials Direct labor Overhead costs Administration Production setup Quality control Distribution Operating profit Activity Base Setting up * X Performing quality control Distribution 3 EZ-Seat, Inc., manufactures two types of reclining chairs, Standard and Ergo. Ergo provides support for the body through a complex set of sensors and requires great care in manufacturing to avoid damage to the material and frame. Standard is a conventional recliner, uses standard materials, and is simpler to manufacture. EZ-Seat's results for the last fiscal year are shown in the following statement. Ergo $2,000,000 600,000 400, 000 GwMcGraw Hill Education Campus X EZ-SEAT, INC. Income Statement $ d Standard $5,000,000 1,500,000 500,000 EZ-Seat currently uses labor costs to allocate all overhead, but management is considering implementing an activity-based costing…
ttempt%3D1347310&cmid%3D701917 ming services SQU Libraries SQU Portal Attendance English (en Which of the following is correct with resnect to closing out underapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold? Select one: a. The balance in the Work-in-Process account after allocation will be higher if the underapplied overhead is closed out by allocating it to all appropriate accounts. b. The balance in the Work-in-Process account after allocation will be the same under either method. C. None of given ANSWER is correct. d. Operating income will be higher if all of the underapplied overhead is closed out to Cost of Goods Sold. X e. Cost of Goods Sold will be higher if the underapplied. overhead is closed out by allocatinog it to the inventory accounts as well as to Cost of Goods Sold. The corect
/takeAssignment/takeAssignmentMain.do?invoker=Dassignments&takeAssignmentSessionLocator%3Dassignment-take&inprogress%-false ☆ ロ eBook Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling $110,700 Number of moves 4,500 Engineering 153,900 Number of change orders 9,000 Other overhead 310,000 Direct labor hours 50,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job 13-45 Job 13-46 Beginning balance $24,900 $19,800 $2,900 $0 Direct materials $5,800 $9,900 $13,200 $9,500 Direct labor cost $810 $1,080 $1,560 $130 Job 13-43 Job 13-44 Job 13-45 Job 13-46 Number of moves 45 48 33 4 Number of change orders 27 40 23 18 Direct labor hours 810 1,080 1,560 130 By July 31, Jobs 13-43 and 13-44 were completed…
gagenown/ilm/takeAssignment/takeAssignmentMain.do?invoker=&ta... A Q eBook Activity Fabrication Assembly Setup Inspecting Production scheduling Purchasing Activity Rate $24 per machine hour $13 per direct labor hour $50 per setup $28 per inspection $14 per production order $11 per purchase order The activity-base usage quantities and units produced for each product were as follows: Elliptical Machines Treadmill 1,687 419 53 Activity Base Machine hours Direct labor hours Setups Elliptical Machines Treadmill 4 Product Costs using Activity Rates Hercules Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: C 101 Print Item % 15 5 732 $ Inspections Production orders Purchase orders 198 Units produced 286 Use the activity rate…
Textra Plastics produces parts for a variety of small machine manufacturers. Most products go through two operations, molding and trimming, before they are ready for packaging. Expected costs and activities for the molding department and for the trimming department for this year follow. (Round "OH rate and cost per unit" answers to 2 decimal places.) Trimming Molding 52,000 DLH 30,500 MH $732,000 Direct labor hours 48,000 DLH 3,600 MH $592,000 Machine hours Overhead costs Data for two special-order parts to be manufactured by the company in this year follow: Part A27C Part X82B Number of units 9,800 units 54,500 units Machine hours Molding Trimming 5,100 MH 2,600 MH 1,020 MH 650 MH Direct labor hours 2,150 DLH 3,500 DLH 5,500 DLH Molding Trimming 700 DLH Required: 1. Compute a departmental overhead rate for the molding department based on machine hours and a department overhead rate for the trimming department based on direct labor hours. Molding Trimming 2. & 3. Determine the total…