Gato Industries mass produces ceramic vases to sell to flower shops around the country. They have several processing departments for their process cost system. The following information regards the Painting department during the month of August 2019:
# Units |
Materials |
Conversion |
|
Beginning Work-in-Process |
6000 |
60% |
50% |
Ending Work-in-Process |
4500 |
80% |
50% |
Units started during August |
110,000 |
What are the total equivalent units of production for Material Costs for the month of August?
Corpus Corp. produces two types of handheld radio: Basic and Supreme. The following information shows the various activity levels related to the production of Basic and Supreme products:
Basic |
Supreme |
|
Machine Hours |
275,000 |
100,000 |
Equipment Setups |
200 |
500 |
Customer Orders |
12,000 |
7,500 |
Corpus Corp. calculated overhead rates for each of their cost pools:
What is the total amount of overhead that will be allocated to the Basic radios?
1 | ||
To completed Beginning Work-in-Process | 2400 | =6000*(1-60%) |
Units started and completed | 105500 | =110000-4500 |
Ending Work-in-Process | 3600 | =4500*80% |
Equivalent units of production for Material Costs | 111500 | |
Alternatively, if weighted average method is used: | ||
Units completed and transferred | 111500 | =6000+110000-4500 |
Ending Work-in-Process | 3600 | =4500*80% |
Equivalent units of production for Material Costs | 115100 | |
2 | ||
Order Size cost pool | 3300000 | =275000*12 |
Setup cost pool | 1000000 | =200*5000 |
Customer Order cost pool | 276000 | =12000*23 |
Amount of overhead allocated to the Basic radios | 4576000 |
Gato Industries mass produces ceramic vases to sell to flower shops around the country. They have...
Quiz 4 and 113410].docx - Read-Only ayout References Mailings Review View Help Grammarly Gato Industries mass produces ceramic vases to sell to flower shops around the country. They have several processing departments for their process cost system. The following information regards the Painting department during the month of August 2019: Materials #Units Beginning Work in Process6000 Ending Work-in-Process 4500 Units started during August 110,000 Conversion 50% 50 What are the total equivalent units of production for Material Costs for the...
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Riverside Discount Mart, a chain of low-price stores, has asked
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promotion Riverside is planning. Riverside has offered to pay
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Fairmount Travel Gear produces backpacks and sells them to vendors who sell them under their own label. The cost of one of its backpacks follows. Materials $ 18.50 Labor 12.50 Variable overhead 5.50 Fixed overhead ($2,957,500 per year; 455,000 units per year) 6.50 Total $ 43.00 Riverside Discount Mart, a chain of low-price stores, has asked Fairmount to supply it with 24,000 backpacks for a special promotion Riverside is planning. Riverside has offered to pay Fairmount a unit price of...
Fairmount Travel Gear produces backpacks and sells them to vendors who sell them under their own label. The cost of one of its backpacks follows. Materials $ 18.90 Labor 12.90 Variable overhead 5.90 Fixed overhead ($3,167,100 per year; 459,000 units per year) 6.90 Total $ 44.60 Riverside Discount Mart, a chain of low-price stores, has asked Fairmount to supply it with 28,000 backpacks for a special promotion Riverside is planning. Riverside has offered to pay Fairmount a unit price of...
Fairmount Travel Gear produces backpacks and sells them to vendors who sell them under their own label. The cost of one of its backpacks follows. Materials Labor Variable overhead Fixed overhead ($3,650,400 per year; 468,000 units per year) Total $19.80 13.80 6.80 7.80 $48.20 Riverside Discount Mart, a chain of low-price stores, has asked Fairmount to supply it with 37,000 backpacks for a special promotion Riverside is planning. Riverside has offered to pay Fairmount a unit price of $54 per...