Homework Answers
|
January |
February |
|
|
Price |
$ 25.53 |
$ 28.89 |
Note:
Overheads Recovery=Budgeted Overheads/ Budgeted Activity
=$ 313000/31300 chairs=$ 10 per chair
|
January |
February |
|
|
Units |
3500 |
1300 |
|
Material |
$ 17500 |
$ 9300 |
|
Labor |
$ 25200 |
$ 13800 |
|
Overheads |
$ 35000 |
$ 13000 |
|
Total Cost |
$ 77700 |
$ 36100 |
|
Cost per unit |
$ 22.2 |
$ 27.77 |
|
Add :Mark up@15% |
$ 3.33 |
$ 4.17 |
|
Total Price |
$ 25.53 |
$ 31.94 |
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Baird Manufacturing Co. expects to make 31,300 chairs during the 2017 accounting period. The company made...
Perez Manufacturing Co. expects to make 30,300 chairs during the 2017 accounting period. The company made...
Perez Manufacturing Co. expects to make 30,300 chairs during the 2017 accounting period. The company made 4,700 chairs in January. Materials and labor costs for January were $17,100 and $25,500, respectively. Perez produced 2,300 chairs in February Material and labor costs for February were $9,300 and $13,600, respectively. The company paid the $484,800 annual rental fee on its manufacturing facility on January 1, 2017 Required Assuming that Perez desires to sell its chairs for cost plus 10 percent of cost,...
Campbell Manufacturing Co. expects to make 31,700 chairs during the 2017 accounting period. The company made...
Campbell Manufacturing Co. expects to make 31,700 chairs during the 2017 accounting period. The company made 4,200 chairs in January. Materials and labor costs for January were $16,200 and $24,100, respectively. Campbell produced 1,500 chairs in February. Material and labor costs for February were $8,600 and $12,800, respectively. The company paid the $475,500 annual rental fee on its manufacturing facility on January 1, 2017. Required Assuming that Campbell desires to sell its chairs for cost plus 40 percent of cost,...
Vernon Manufacturing Co. expects to make 30,600 chairs during the 2017 accounting period. The company made...
Vernon Manufacturing Co. expects to make 30,600 chairs during the 2017 accounting period. The company made 4,400 chairs in January. Materials and labor costs for January were $16,800 and $24,700, respectively. Vernon produced 1,500 chairs in February Material and labor costs for February were $9,500 and $12,000, respectively. The company paid the $612,000 annual rental fee on its manufacturing facility on January 1, 2017 Required Assuming that Vernon desires to sell its chairs for cost plus 35 percent of cost,...
Jordan Manufacturing Co. expects to make 31,000 chairs during the year 1 accounting period. The company...
Jordan Manufacturing Co. expects to make 31,000 chairs during the year 1 accounting period. The company made 5,100 chairs in January. Materials and labor costs for January were $16,700 and $25,700, respectively. Jordan produced 2,400 chairs in February. Material and labor costs for February were $9,600 and $13,800, respectively. The company paid the $248,000 annual rental fee on its manufacturing facility on January 1, year 1. Required Assuming that Jordan desires to sell its chairs for cost plus 50 percent...
xercise 4-11A (Algo) How the allocation of fixed cost attects a pricing decision LO 4-3 Adams...
xercise 4-11A (Algo) How the allocation of fixed cost attects a pricing decision LO 4-3 Adams Manufacturing Co. expects to make 30,900 chairs during the year 1 accounting period. The company made 3.800 chairs in January. Materials and labor costs for January were $17,900 and $24,800, respectively. Adams produced 1,900 chairs in February Material and labor costs for February were $9,500 and $12,400, respectively. The company paid the $401.700 annual rental fee on its manufacturing facility on January 1, year...
Allocation to accomplish smoothing Baird Corporation estimated its overhead costs would be $23,500 per month except...
Allocation to accomplish smoothing
Baird Corporation estimated its overhead costs would be $23,500
per month except for January when it pays the $162,360 annual
insurance premium on the manufacturing facility. Accordingly, the
January overhead costs were expected to be $185,860 ($162,360 +
$23,500). The company expected to use 7,400 direct labor hours per
month except during July, August, and September when the company
expected 10,000 hours of direct labor each month to build
inventories for high demand that normally occurs...
Adams Manufacturing Company produced 2,100 units of inventory in January 2018. It expects to produce an...
Adams Manufacturing Company produced 2,100 units of inventory in January 2018. It expects to produce an additional 8,400 units during the remaining 11 months of the year. In other words, total production for 2018 is estimated to be 10,500 units. Direct materials and direct labor costs are $73 and $53 per unit, respectively. Adams expects to incur the following manufacturing overhead costs during the 2018 accounting period: $ Production supplies Supervisor salary Depreciation on equipment Utilities Rental fee on manufacturing...
Baird Manufacturing Company was started on January 1, 2018, when it acquired $81,000 cash by issuing...
Baird Manufacturing Company was started on January 1, 2018, when
it acquired $81,000 cash by issuing common stock. Baird immediately
purchased office furniture and manufacturing equipment costing
$8,400 and $27,200, respectively. The office furniture had an
8-year useful life and a zero salvage value. The manufacturing
equipment had a $3,800 salvage value and an expected useful life of
three years. The company paid $11,200 for salaries of
administrative personnel and $15,700 for wages to production
personnel. Finally, the company paid...
Baird Manufacturing Company was started on January 1, 2018, when it acquired $75,000 cash by issuing...
Baird Manufacturing Company was started on January 1, 2018, when it acquired $75,000 cash by issuing common stock. Baird immediately purchased office furniture and manufacturing equipment costing $7,700 and $33,500, respectively. The office furniture had an eight-year useful life and a zero salvage value. The manufacturing equipment had a $3,100 salvage value and an expected useful life of four years. The company paid $12,000 for salaries of administrative personnel and $15,300 for wages to production personnel. Finally, the company paid...
Finch Corporation estimated its overhead costs would be $23,700 per month except for January when it...
Finch Corporation estimated its overhead costs would be $23,700 per month except for January when it pays the $169,830 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $193,530 ($169,830 + $23,700). The company expected to use 7,200 direct labor hours per month except during July, August, and September when the company expected 9,300 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season....
Perez Manufacturing Co. expects to make 30,300 chairs during the 2017 accounting period. The company made 4,700 chairs in January. Materials and labor costs for January were $17,100 and $25,500, respectively. Perez produced 2,300 chairs in February Material and labor costs for February were $9,300 and $13,600, respectively. The company paid the $484,800 annual rental fee on its manufacturing facility on January 1, 2017 Required Assuming that Perez desires to sell its chairs for cost plus 10 percent of cost,...
Campbell Manufacturing Co. expects to make 31,700 chairs during the 2017 accounting period. The company made 4,200 chairs in January. Materials and labor costs for January were $16,200 and $24,100, respectively. Campbell produced 1,500 chairs in February. Material and labor costs for February were $8,600 and $12,800, respectively. The company paid the $475,500 annual rental fee on its manufacturing facility on January 1, 2017. Required Assuming that Campbell desires to sell its chairs for cost plus 40 percent of cost,...
Vernon Manufacturing Co. expects to make 30,600 chairs during the 2017 accounting period. The company made 4,400 chairs in January. Materials and labor costs for January were $16,800 and $24,700, respectively. Vernon produced 1,500 chairs in February Material and labor costs for February were $9,500 and $12,000, respectively. The company paid the $612,000 annual rental fee on its manufacturing facility on January 1, 2017 Required Assuming that Vernon desires to sell its chairs for cost plus 35 percent of cost,...
Jordan Manufacturing Co. expects to make 31,000 chairs during the year 1 accounting period. The company made 5,100 chairs in January. Materials and labor costs for January were $16,700 and $25,700, respectively. Jordan produced 2,400 chairs in February. Material and labor costs for February were $9,600 and $13,800, respectively. The company paid the $248,000 annual rental fee on its manufacturing facility on January 1, year 1. Required Assuming that Jordan desires to sell its chairs for cost plus 50 percent...
xercise 4-11A (Algo) How the allocation of fixed cost attects a pricing decision LO 4-3 Adams Manufacturing Co. expects to make 30,900 chairs during the year 1 accounting period. The company made 3.800 chairs in January. Materials and labor costs for January were $17,900 and $24,800, respectively. Adams produced 1,900 chairs in February Material and labor costs for February were $9,500 and $12,400, respectively. The company paid the $401.700 annual rental fee on its manufacturing facility on January 1, year...
Allocation to accomplish smoothing
Baird Corporation estimated its overhead costs would be $23,500
per month except for January when it pays the $162,360 annual
insurance premium on the manufacturing facility. Accordingly, the
January overhead costs were expected to be $185,860 ($162,360 +
$23,500). The company expected to use 7,400 direct labor hours per
month except during July, August, and September when the company
expected 10,000 hours of direct labor each month to build
inventories for high demand that normally occurs...
Adams Manufacturing Company produced 2,100 units of inventory in January 2018. It expects to produce an additional 8,400 units during the remaining 11 months of the year. In other words, total production for 2018 is estimated to be 10,500 units. Direct materials and direct labor costs are $73 and $53 per unit, respectively. Adams expects to incur the following manufacturing overhead costs during the 2018 accounting period: $ Production supplies Supervisor salary Depreciation on equipment Utilities Rental fee on manufacturing...
Baird Manufacturing Company was started on January 1, 2018, when
it acquired $81,000 cash by issuing common stock. Baird immediately
purchased office furniture and manufacturing equipment costing
$8,400 and $27,200, respectively. The office furniture had an
8-year useful life and a zero salvage value. The manufacturing
equipment had a $3,800 salvage value and an expected useful life of
three years. The company paid $11,200 for salaries of
administrative personnel and $15,700 for wages to production
personnel. Finally, the company paid...
Baird Manufacturing Company was started on January 1, 2018, when it acquired $75,000 cash by issuing common stock. Baird immediately purchased office furniture and manufacturing equipment costing $7,700 and $33,500, respectively. The office furniture had an eight-year useful life and a zero salvage value. The manufacturing equipment had a $3,100 salvage value and an expected useful life of four years. The company paid $12,000 for salaries of administrative personnel and $15,300 for wages to production personnel. Finally, the company paid...
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