Calculate the total bid we should offer for a project with below info: Construction material:...
Calculate the total bid we should offer for a project with below info:
Construction material: $30/lb
Material needed: 10000 lb
PM salary: $100/h
PM hours: 200
Office space: $4000/month
Project duration: 6 months
Other overhead costs: 10% of direct costs
Administration costs: $10000
Profit: 20% of total cost
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Calculate the total bid we
should offer for a project with below info:
Construction
material:...
Calculate the total amount paid by the local construction company for the 5,000 windows. The estimated...
Calculate the total amount paid by the local construction
company
for the 5,000 windows.
The estimated manufacturing overhead costs for Watts Window Company for 2010 are listed below: Work space $3,000,000 Quality control inspections ..... 1,000,000 Electric power 400,000 Materials handling 1,200,000 Machine setups 700,000 Watts Company assigns overhead costs to products using an activity based costing system. The following information pertains to the activity based cost drivers and overhead costs: Type of cost Activity based cost driver Work space...
A small construction firm, A&B Construction, is working on a house project for Mr. Long. The...
A small construction firm, A&B Construction, is working on a house project for Mr. Long. The estimated building time is 8 months and the estimated costs to the firm (labor, materials, etc.) are $20,000 per month for 8 months (assume that the firm needs to pay the monthly costs at the end of each month). The contract indicates that the customer will pay a total of $200,000 for the project but it does not specify when the customer will pay...
A small construction firm, A&B Construction, is working on a house project for Mr. Long. The...
A small construction firm, A&B Construction, is working on a house project for Mr. Long. The estimated building time is 8 months and the estimated costs to the firm (labor, materials, etc.) are $20,000 per month for 8 months (assume that the firm needs to pay the monthly costs at the end of each month). The contract indicates that the customer will pay a total of $200,000 for the project but it does not specify when the customer will pay...
Question 9 View Policies Current Attempt in Progress Waterways uses time and material pricing when it bids on irrigatio...
Question 9 View Policies Current Attempt in Progress Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for the coming year are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects Material Time Loading Charges Charges Labor wages (5900 hours) $237770 Supervisor's salary $61000 Clerical and accountant wages 63130 4000 Irrigation supplies manager 41000 Overhead 54280 22050 Total $355180 $128050 Waterways has budgeted for 5900 labor hours. It desires a $13 profit margin per hour...
WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects Time Charges Material Loading Charges Labor wages (5,700 hours)...
WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects Time Charges Material Loading Charges Labor wages (5,700 hours) $238,260 Supervisor’s salary $62,000 Clerical and accountant wages 58,140 4,000 Irrigation supplies manager 39,000 Overhead 53,010 21,720 Total $349,410 $126,720 Waterways has budgeted for 5,700 labor hours. It desires a $13 profit margin per hour of labor and 15% profit on materials. It estimates the total invoice cost of materials in the coming year will be $660,000. A.Compute the rate per hour of labor....
Q5. What is the direct material efficiency variance? _________ Show calculation below. Q6. Given the info...
Q5. What is the direct material
efficiency variance? _________ Show calculation below.
Q6. Given the info above, what is the
direct labor rate variance? _________ Show calculation below.
Q7. Given the info above, the fixed
overhead controllable variance is: _________ Show calculation
below.
Q8. What is the variable overhead
controllable variance? _________ Show calculation below.
Rogen uses the standard cost system. The Static original budgeted production was 5,000 units for October. The Input standards were: Std Quantity x Std Price...
Questions 21-23 10 points each-30 points total 21. Draw a bar chart for the following construction data Activity Preceding Activity Duration D, E 22. What is the critical path for the above constr...
Questions 21-23 10 points each-30 points total 21. Draw a bar chart for the following construction data Activity Preceding Activity Duration D, E 22. What is the critical path for the above construction data 23. A contractor has been awarded a project covering 14.35 miles of highway construction approximately 250 feet wide, with an average pavement width of 23 feet. The project contracted to be completed in 32 878,545 per mile of road way, profit is 9 % of the...
The following cost data pertains to ABC Company for the month of December: Direct material used...
The following cost data pertains to ABC Company for the month of December: Direct material used in production Depreciation for factory building Direct labor wages Cost of finished goods, inventory at year-end Indirect labor - wages Production supervisor's salary Product promotion costs Service department costs for manufacturing Sales commissions Administrative costs Rental of sales office space $ 210,000 11,500 58,000 11,500 17,000 5,400 9,900 10,000 500 15,000 1,500 a) b) c) d) e) Compute the total prime costs. Compute the...
P22-3B Armstrong Bike Repair Shop has budgeted the following time and material for 2017 Armstrong Bike...
P22-3B Armstrong Bike Repair Shop has budgeted the following time and material for 2017 Armstrong Bike Repair Shop Budgeted Costs for the Year 2017 Time Material Charges Loading Charges Shop employees' wages and benefits $36.000 Parts supervisor's salary and benefits $20,000 Office employee's salary and benefits 15,000 10,000 Overhead (supplies, depreciation, advertising, utilities) 19,000 15,000 Total budgeted costs $70.000 $45.000 Armstrong budgets 2,500 hours of repair time in 2017 and will bill a profit of $5 per labor hour along...
Earth and Artistry, Inc. provides commercial landscaping services. Sasha Cairns, the firm’s owner, wants to develop...
Earth and Artistry, Inc. provides commercial landscaping services. Sasha Cairns, the firm’s owner, wants to develop cost estimates that she can use to prepare bids on jobs. After analyzing the firm’s costs, Cairns has developed the following preliminary cost estimates for each 1,000 square feet of landscaping. Direct material $ 440 Direct labor (5 direct-labor hours at $10 per hour) 50 Overhead (at $16 per direct-labor hour) 80 Total cost per 1,000 square feet $ 570 Cairns is quite...
Calculate the total amount paid by the local construction
company
for the 5,000 windows.
The estimated manufacturing overhead costs for Watts Window Company for 2010 are listed below: Work space $3,000,000 Quality control inspections ..... 1,000,000 Electric power 400,000 Materials handling 1,200,000 Machine setups 700,000 Watts Company assigns overhead costs to products using an activity based costing system. The following information pertains to the activity based cost drivers and overhead costs: Type of cost Activity based cost driver Work space...
A small construction firm, A&B Construction, is working on a house project for Mr. Long. The estimated building time is 8 months and the estimated costs to the firm (labor, materials, etc.) are $20,000 per month for 8 months (assume that the firm needs to pay the monthly costs at the end of each month). The contract indicates that the customer will pay a total of $200,000 for the project but it does not specify when the customer will pay...
A small construction firm, A&B Construction, is working on a house project for Mr. Long. The estimated building time is 8 months and the estimated costs to the firm (labor, materials, etc.) are $20,000 per month for 8 months (assume that the firm needs to pay the monthly costs at the end of each month). The contract indicates that the customer will pay a total of $200,000 for the project but it does not specify when the customer will pay...
Question 9 View Policies Current Attempt in Progress Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for the coming year are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects Material Time Loading Charges Charges Labor wages (5900 hours) $237770 Supervisor's salary $61000 Clerical and accountant wages 63130 4000 Irrigation supplies manager 41000 Overhead 54280 22050 Total $355180 $128050 Waterways has budgeted for 5900 labor hours. It desires a $13 profit margin per hour...
Q5. What is the direct material
efficiency variance? _________ Show calculation below.
Q6. Given the info above, what is the
direct labor rate variance? _________ Show calculation below.
Q7. Given the info above, the fixed
overhead controllable variance is: _________ Show calculation
below.
Q8. What is the variable overhead
controllable variance? _________ Show calculation below.
Rogen uses the standard cost system. The Static original budgeted production was 5,000 units for October. The Input standards were: Std Quantity x Std Price...
Questions 21-23 10 points each-30 points total 21. Draw a bar chart for the following construction data Activity Preceding Activity Duration D, E 22. What is the critical path for the above construction data 23. A contractor has been awarded a project covering 14.35 miles of highway construction approximately 250 feet wide, with an average pavement width of 23 feet. The project contracted to be completed in 32 878,545 per mile of road way, profit is 9 % of the...
The following cost data pertains to ABC Company for the month of December: Direct material used in production Depreciation for factory building Direct labor wages Cost of finished goods, inventory at year-end Indirect labor - wages Production supervisor's salary Product promotion costs Service department costs for manufacturing Sales commissions Administrative costs Rental of sales office space $ 210,000 11,500 58,000 11,500 17,000 5,400 9,900 10,000 500 15,000 1,500 a) b) c) d) e) Compute the total prime costs. Compute the...
P22-3B Armstrong Bike Repair Shop has budgeted the following time and material for 2017 Armstrong Bike Repair Shop Budgeted Costs for the Year 2017 Time Material Charges Loading Charges Shop employees' wages and benefits $36.000 Parts supervisor's salary and benefits $20,000 Office employee's salary and benefits 15,000 10,000 Overhead (supplies, depreciation, advertising, utilities) 19,000 15,000 Total budgeted costs $70.000 $45.000 Armstrong budgets 2,500 hours of repair time in 2017 and will bill a profit of $5 per labor hour along...
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