The Mulvey Company derived the following cost relationship from a regression analysis of its monthly manufacturing...
The Mulvey Company derived the following cost relationship from a regression analysis of its monthly manufacturing overhead cost. C = $90,000 + $10M If: C = monthly manufacturing overhead cost M = machine hours The standard error of the estimate of the regression is $4,500. The standard time required to manufacture one six-unit case of Mulvey’s single product is 2 machine hours. Mulvey applies manufacturing overhead to production on the basis of machine hours, and its normal annual production is 48,000 cases. Mulvey's estimated Fixed manufacturing overhead cost for a month in which scheduled production is 5,000 cases will be? A) $56,250 B) $85,500 C) $94,500 D)$90,000
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The Mulvey Company derived the following cost relationship from
a regression analysis of its monthly manufacturing...
The MartinezMartinez Company uses standard costing in its manufacturing plant for auto parts. The standard cost...
The MartinezMartinez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 4,500 output units per year, included 5 machine-hours of variable manufacturing overhead at $7 per hour and 5 machine-hours of fixed manufacturing overhead at $15 per hour. Actual output produced was 4,800 units. Variable manufacturing overhead incurred was $ 240,000. Fixed manufacturing overhead incurred was $ 385,000. Actual machine-hours were 29,000. Variable OH...
The Ramirez Company uses standard costing in its manufacturing plant for auto parts. The standard cost...
The Ramirez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular aut part, based on a denominator level of 4.100 output units per year, included 6 machine-hours of variable manufacturing overhead at $8 per hour and 6 machine-hours of fixed manufacturing overhead at $15 per hour. Actual output produced was 4,500 units. Variable manufacturing overhead incurred was $260,000. Fixed manufacturing overhead incurred was $385,000 Actual machine-hours were 28,500. Read the requirements Journal...
Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing...
Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department D E K Manufacturing overhead $770,000 $1,500,000 $780,000 Direct labor costs $1,100,000 $1,875,000 $675,000 Direct labor hours 150,000 125,000 60,000...
Rev Corporation wanted to determine the relationship between its monthly operating costs and a potential cost...
Rev Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis showed the following information (note: only a portion of the regression analysis results is presented here): What is closest to the total cost if the firm uses 6,000 machine hours? Round intermediary calculato 2 decimal places $1.365.59 57.265.95 $6,538.90 $14.729,732.60
Agassi Company uses a job order cost system in each of its three manufacturing departments, Manufacturing...
Agassi Company uses a job order cost system in each of its three manufacturing departments, Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department Manufacturing overhead Direct labor costs Direct labor hours Machine hours $990,000 $1,237,500 150,000 600,000 $1,750,000 $1,875,000 125,000 750,000 $1,080,000 $675,000...
Pharoah Company uses a job order cost system in each of its three manufacturing departments. Manufacturing...
Pharoah Company uses a job order cost system in each of its
three manufacturing departments. Manufacturing overhead is applied
to jobs on the basis of direct labor cost in Department D, direct
labor hours in Department E, and machine hours in Department
K.
In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department Manufacturing overhead Direct labor costs Direct labor hours Machine hours $931,000 $1,330,000 150,000 600,000 $1,625,000 $1,020,000 $1,875,000 $675,000 125,000 60,000...
Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing...
Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department D E K Manufacturing overhead $924,000 $1,500,000 $900,000 Direct labor costs $1,320,000 $1,875,000 $675,000 Direct labor hours 150,000 125,000 60,000...
Net Play Company uses a job order cost system in each of its three manufacturing departments....
Net Play Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department A, direct labor hours in Department B, and machine hours in Department C. In establishing the predetermined overhead rates for 2014, the following estimates were made for the year. Department A B C Manufacturing overhead $720,000 $640,000 $900,000 Direct labor cost $600,000 $100,000 $600,000 Direct labor hours 50,000 40,000...
Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing...
Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department D E K Manufacturing overhead $770,000 $1,500,000 $780,000 Direct labor costs $1,100,000 $1,875,000 $675,000 Direct labor hours 150,000 125,000 60,000...
1. Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost...
1. Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost per unit for each product. (Click the icon to view the data.) Compute the manufacturing cost per unit for each product. How might Neylon's managers use the new cost information from its activity-based costing system to better manage its business? 2. Total manufacturing overhead costs are: 3. Total Machining costs 360,000 Data Table Setup costs 108,000 Inspection costs 117,000 Mathematical Financial Requirement 1. Choose...
The Ramirez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular aut part, based on a denominator level of 4.100 output units per year, included 6 machine-hours of variable manufacturing overhead at $8 per hour and 6 machine-hours of fixed manufacturing overhead at $15 per hour. Actual output produced was 4,500 units. Variable manufacturing overhead incurred was $260,000. Fixed manufacturing overhead incurred was $385,000 Actual machine-hours were 28,500. Read the requirements Journal...
Rev Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis showed the following information (note: only a portion of the regression analysis results is presented here): What is closest to the total cost if the firm uses 6,000 machine hours? Round intermediary calculato 2 decimal places $1.365.59 57.265.95 $6,538.90 $14.729,732.60
Agassi Company uses a job order cost system in each of its three manufacturing departments, Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department Manufacturing overhead Direct labor costs Direct labor hours Machine hours $990,000 $1,237,500 150,000 600,000 $1,750,000 $1,875,000 125,000 750,000 $1,080,000 $675,000...
Pharoah Company uses a job order cost system in each of its
three manufacturing departments. Manufacturing overhead is applied
to jobs on the basis of direct labor cost in Department D, direct
labor hours in Department E, and machine hours in Department
K.
In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department Manufacturing overhead Direct labor costs Direct labor hours Machine hours $931,000 $1,330,000 150,000 600,000 $1,625,000 $1,020,000 $1,875,000 $675,000 125,000 60,000...
1. Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost per unit for each product. (Click the icon to view the data.) Compute the manufacturing cost per unit for each product. How might Neylon's managers use the new cost information from its activity-based costing system to better manage its business? 2. Total manufacturing overhead costs are: 3. Total Machining costs 360,000 Data Table Setup costs 108,000 Inspection costs 117,000 Mathematical Financial Requirement 1. Choose...
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