Homework Answers
45. Prime costs = Raw materials used + Direct Labor
3,000,000 = 1,000,000 + Direct Labor
Direct labor = 2,000,000
Option C
.
46. Total factory overhead costs
= 4000+8500+12800
= 25300
Option B
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Question 45 2 pts A company's prime costs total $3,000,000 and its conversion costs total $7,000,000.if...
2 pts Question 26 The rate established at the beginning of a period that uses estimated...
2 pts Question 26 The rate established at the beginning of a period that uses estimated overhead and an allocation factor such as estimated direct labor, and that is used to assign overhead cost to jobs, is the Predetermined overhead rate. Overhead variance rate. Estimated labor cost rate. Chargeable overhead rate. Miscellaneous overhead rate. 2 pts Question 25 A company has an overhead application rate of 125% of direct labor costs. How much overhead would be allocated to a job...
Craigmont Company's direct materials costs are $3,000,000, its direct labor costs total $7,000,000, and its factory...
Craigmont Company's direct materials costs are $3,000,000, its direct labor costs total $7,000,000, and its factory overhead costs total $5,000,000. Its prime costs total: $8,000,000 $15,000,000 $10,000,000 $5,000,000 $12,000,000
31) Asteroid Industries accumulated the following cost information for the year: Direct materials Indirect materials Indirect...
31) Asteroid Industries accumulated the following cost information for the year: Direct materials Indirect materials Indirect labor Factory depreciation $16,000 4,000 8,500 12,800 37,000 Direct labor Using the above information, total factory A) $53,000. B) $25,300. e above information total factory overhead costs would be: C) $78,300. D) $16,800. E) $12,800 ne overhead cost applied to a job during a period is recorded with a credit to Factory Overhead and a debit to: A) Work in Process Inventory. B) Cost...
Help Save & Exte A company's prime costs total $3,800,000 and its conversion costs total $7,800,000....
Help Save & Exte A company's prime costs total $3,800,000 and its conversion costs total $7,800,000. If direct materials are $1.400.000 and factory overhead is $5,400,000, then direct labor Muuple Choice mn o О 52. Аоороо. o О ѕоороо o S4000.000 o O ss sooooo o spooooo.
Seved Save & Exit Help A company's prime costs total $3,800,000 and its conversion costs total...
Seved Save & Exit Help A company's prime costs total $3,800,000 and its conversion costs total $7,800,000. If direct materials are $1,400000 and factory overhead is $5,400,000, then direct labor is: Mutiple Cholce 723 $2,400,000 $3.800,000 $4000,000 $15,600.000 S1000,000
A company’s prime costs total $5,500,000 and its conversion costs total $9,500,000. If direct materials are...
A company’s prime costs total $5,500,000 and its conversion costs total $9,500,000. If direct materials are $2,500,000 and factory overhead is $6,250,000, then direct labor is:
Determine total overhead manufacturing cost, total product costs, and total amount of period costs. Exercise 14-4...
Determine total overhead manufacturing cost, total product
costs, and total amount of period costs.
Exercise 14-4 Knight Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment $16,800 Direct labor $72,600 14,350 Sales salaries 46,700 Property taxes on factory Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 4,200 52,500 84,300 3,500 1,700 2,970 16,700 3,370 Repairs to office equipment Factory repairs 138,700 Advertising 8,400 office supplies used From...
EZ-Seat, Inc., manufactures two types of reclining chairs, Standard and Ergo. Ergo provides support for the...
EZ-Seat, Inc., manufactures two types of reclining chairs, Standard and Ergo. Ergo provides support for the body through a complex set of sensors and requires great care in manufacturing to avoid damage to the material and frame. Standard is a conventional recliner, uses standard materials, and is simpler to manufacture. EZ-Seat's results for the last fiscal year are shown in the following statement. EZ-SEAT, INC. Income Statement Ergo Standard $2,000,000 $5,000,000 600,000 1,500,000 400,000 500,000 Total $7,000,000 2,100,000 900,000 Sales...
Help Save & Exit TB MC Qu. 14-142 Asteroid Industries accumulated... Asteroid Industries accumulated the following...
Help Save & Exit TB MC Qu. 14-142 Asteroid Industries accumulated... Asteroid Industries accumulated the following cost information for the year. Direct materials Indirect materials Indirect labor Factory depreciation Direct labor $15, 400 3,400 7,900 12,200 36,400 Using the above information, total factory overhead costs equal Multiple Choice 0 $75,300 O $23.500 O $12.200 mg the above information, total factory overhead costs equal: Multiple Choice Ο Ο $75,300. Ο Ο $23,500. Ο Ο $12,200. Ο S15,600. Η $51,800.
A company manufactures and sells a product for $115 per unit The company's fixed costs are...
A company manufactures and sells a product for $115 per unit The company's fixed costs are $63,760 and its variable costs are $85 per unit. The company's break-even point in units is O 2125 O 554 750. O 319. 0 790. A company's prime costs total $5,400,000 and its conversion costs total $9,400,000. If direct materials are $2200,000 and factory overhead is $6,200,000, then direct labor is: O $4,000,000. $18,800,000. $3,200,000 $1,000,000 o $5,400,000,
2 pts Question 26 The rate established at the beginning of a period that uses estimated overhead and an allocation factor such as estimated direct labor, and that is used to assign overhead cost to jobs, is the Predetermined overhead rate. Overhead variance rate. Estimated labor cost rate. Chargeable overhead rate. Miscellaneous overhead rate. 2 pts Question 25 A company has an overhead application rate of 125% of direct labor costs. How much overhead would be allocated to a job...
Craigmont Company's direct materials costs are $3,000,000, its direct labor costs total $7,000,000, and its factory overhead costs total $5,000,000. Its prime costs total: $8,000,000 $15,000,000 $10,000,000 $5,000,000 $12,000,000
31) Asteroid Industries accumulated the following cost information for the year: Direct materials Indirect materials Indirect labor Factory depreciation $16,000 4,000 8,500 12,800 37,000 Direct labor Using the above information, total factory A) $53,000. B) $25,300. e above information total factory overhead costs would be: C) $78,300. D) $16,800. E) $12,800 ne overhead cost applied to a job during a period is recorded with a credit to Factory Overhead and a debit to: A) Work in Process Inventory. B) Cost...
Help Save & Exte A company's prime costs total $3,800,000 and its conversion costs total $7,800,000. If direct materials are $1.400.000 and factory overhead is $5,400,000, then direct labor Muuple Choice mn o О 52. Аоороо. o О ѕоороо o S4000.000 o O ss sooooo o spooooo.
Seved Save & Exit Help A company's prime costs total $3,800,000 and its conversion costs total $7,800,000. If direct materials are $1,400000 and factory overhead is $5,400,000, then direct labor is: Mutiple Cholce 723 $2,400,000 $3.800,000 $4000,000 $15,600.000 S1000,000
Determine total overhead manufacturing cost, total product
costs, and total amount of period costs.
Exercise 14-4 Knight Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment $16,800 Direct labor $72,600 14,350 Sales salaries 46,700 Property taxes on factory Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 4,200 52,500 84,300 3,500 1,700 2,970 16,700 3,370 Repairs to office equipment Factory repairs 138,700 Advertising 8,400 office supplies used From...
EZ-Seat, Inc., manufactures two types of reclining chairs, Standard and Ergo. Ergo provides support for the body through a complex set of sensors and requires great care in manufacturing to avoid damage to the material and frame. Standard is a conventional recliner, uses standard materials, and is simpler to manufacture. EZ-Seat's results for the last fiscal year are shown in the following statement. EZ-SEAT, INC. Income Statement Ergo Standard $2,000,000 $5,000,000 600,000 1,500,000 400,000 500,000 Total $7,000,000 2,100,000 900,000 Sales...
Help Save & Exit TB MC Qu. 14-142 Asteroid Industries accumulated... Asteroid Industries accumulated the following cost information for the year. Direct materials Indirect materials Indirect labor Factory depreciation Direct labor $15, 400 3,400 7,900 12,200 36,400 Using the above information, total factory overhead costs equal Multiple Choice 0 $75,300 O $23.500 O $12.200 mg the above information, total factory overhead costs equal: Multiple Choice Ο Ο $75,300. Ο Ο $23,500. Ο Ο $12,200. Ο S15,600. Η $51,800.
A company manufactures and sells a product for $115 per unit The company's fixed costs are $63,760 and its variable costs are $85 per unit. The company's break-even point in units is O 2125 O 554 750. O 319. 0 790. A company's prime costs total $5,400,000 and its conversion costs total $9,400,000. If direct materials are $2200,000 and factory overhead is $6,200,000, then direct labor is: O $4,000,000. $18,800,000. $3,200,000 $1,000,000 o $5,400,000,
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