Classic Toy Company manufactures twoproducts, X-0-Tron and Mechoman. Classic'soverhead costs consist of setting upmachines, $400,000; machining, $900,000;and inspecting, $300,000. Information onthe two products is:X-O-TronMechomanDirect laborhours15,00025,000Machine setups 600400Machine hours 24,00026,000Inspections800700Overhead allocated to X-O-Tron usingactivity-based costing is(DO NOT USE COMMAS OR ANY SYMBOLS)

Name: Classic Toy Company manufactures twoproducts, X-0-Tron and Mechoman.
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Description: Classic Toy Company manufactures twoproducts, X-0-Tron and Mechoman. Classic'soverhead costs consist of setting upmachines, $400,000; machining, $900,000;and inspecting, $300,000. Information onthe two products is:X-O-TronMechomanDirect laborhours15

In the given question the overhead applied to using activity is based on costing. Hence, setting of…

Answered: X-O-Tron Mechoman Direct labor hours…

Business

Accounting

X-O-Tron Mechoman Direct labor hours 15,000 25,000 Machine setups 600 400 Machine hours 24,000 26,000 Inspections 800 700

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

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Box Springs. Inc., makes two sizes of box springs: queen and king. The direct material for the queen is $35 per unit and $55 is used in direct labor, while the direct material for the king is $55 per unit, and the labor cost is $70 per unit. Box Springs estimates it will make 4,300 queens and 3,000 kings in the next year. It estimates the overhead for each cost pool and cost driver activities as follows: How much does each unit cost to manufacture?
The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
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