Harrison Products Inc. (HPI) is a global manufacturer of molded plastic products and metal products that...
all one question just matching!!! thank you!!! itll help a lot especially since i dont have enough funds for the book!!! Manufacturing overhead allocated is less than the actual manufacturing overhead Debited for the amount of indirect materials requisitioned for jobs Account debited when raw materials are purchased 1 Process costing 2 Job costing DODDODD Used to accumulate direct materials, direct labor and manufacturing overhead allocated to a job 3. Job cost record Records the time spent by each employee...
(20 marks) EBY Metal Products reported the following components in its manufacturing costs for April 29 (in thousands): 2. Direct costs Direct materials Direct manufacturing labor salaries Subcontracting 430 (TL) 110 Manufacturing overhead: 40 Fringe benefits on direct manufacturing labor Production setup Other manufacturing overhead 240 Please note that Subcontracting Costs are treated as a direct cost item separate from direct materials Compute (a) prime costs and (b) the conversion costs of EBY Metal Products using the cost classifications described...
Lurvey, Inc., a manufacturer of plastic products, reports the following manufacturing costs and account analysis classification for the year ended December 31, 2017. E: (Click the icon to see the account information.) Lurvey, Inc., produced 80,000 units of product in 2017. Lurvey's management is estimating costs for 2018 on the basis of 2017 numbers. The following additional information is available for 2018. (Click the icon to see the additional information.) Read the requirements. 2017 2018 Variable unit Total cost X...
(0.4) Gower, Inc., a manufacturer of plastic products, reports the following manufacturing costs and account analysis classification for the year ended December 31, 2012. Account Classification Amount Direct materials All variable $300,000 Direct manufacturing labor All variable 225,000 Power All variable 37,500 Supervision labor 20% variable 56,250 Materials-handling labor 50% variable 60,000 Maintenance labor 40% variable 75,000 Depreciation 0% variable 95,000 Rent, property taxes, and administration 0% variable 100,000 Gower, Inc., produced 75,000 units of product in 2012. Gower's management...
Morin, Inc., a manufacturer of plastic products, reports the following manufacturing costs and account analysis classification for the year ended December 31, 2017. Morin, Inc., produced 72500 units of product in 2017. Morin's management is estimating costs for 2018 on the basis of 2017 numbers. The following additional information is available for 2018. REQUIREMENTS Data Table Account Classification Amount Direct materials All variable $ 326,250 Direct manufacturing labor All variable 217,500 Power All variable 54,375 Supervision labor 72,500 15% variable...
Match each term with the explanation. Averages manufacturing costs across all units produced so that each identical unit bears the same cost Process of dividing the total manufacturing overhead among the jobs produced during the year Used to accumulate direct materials, direct labor and manufacturing overhead allocated to a job Predetermined manufacturing overhead rate multiplied by actual amount of allocation base used by job Account credited when recording the use of direct labor on jobs Account credited when finished goods...
Pittsburgh Plastics Corporation manufactures a variety of plastic products including a series of molded chairs. The three models of molded chairs, which are all variations of the same design, are Standard (can be stacked), Deluxe (with arms), and Executive (With arms and padding). The company uses batch manufacturing and has an operation costing system. The production process includes an extrusion opertaion and subsequent operations to form, trim and finish the chairs. Plastic sheets are produced by the extrusion operation, some...
Benoit, Inc., a manufacturer of plastic products, reports the following manufacturing costs and account analysis classification for the year ended December 31, 2017 Click the icon to see the account classification.) Account classification Account Direct materials Direct manufacturing labour Power Supervision labour Materials-handling labour Maintenance labour Depreciation Rent, property taxes, and administration Classification Amount All variable $ 320,000 All variable 240,000 All variable 40,000 20% variable 68,000 40% variable 60,000 45% variable 80,000 0% variable 90,000 0% variable 125,000 Benoit,...
Benoit, Inc., a manufacturer of plastic products, reports the following manufacturing costs and account analysis classification for the year ended December 31, 2017 Click the icon to see the account classification.) Account classification Account Direct materials Direct manufacturing labour Power Supervision labour Materials-handling labour Maintenance labour Depreciation Rent, property taxes, and administration Classification Amount All variable $ 320,000 All variable 240,000 All variable 40,000 20% variable 68,000 40% variable 60,000 45% variable 80,000 0% variable 90,000 0% variable 125,000 Benoit,...
Harrison Company makes two products and uses a conventional costing system in which a single plantwide, predetermined overhead rate is computed based on direct labour-hours. Data for the two products for the upcoming year follow: Rascon 5 29.60 $ 14.70 70 29,000 Parcel $ 23.00 $ 4.20 Direct materials cost per unit Direct labour cost per unit Direct labour-hours per unit Number of units produced 40 120.000 These products are customized to some degree for specific customers. Required: 1. The...