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Exercise 4-6 Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are...
Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are budgeted for...
Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are budgeted for the first quarter's operations. Machine setup, indirect materials Inspections Tests Insurance, plant Engineering design Depreciation, machinery Machine setup, indirect labor Property taxes Oil, heating Electricity, plant lighting Engineering prototypes Depreciation, plant Electricity, machinery Machine maintenance wages $4,000 16,000 4,000 110,000 140,000 520,000 20,000 29,000 19,000 21,000 60,000 210,000 36,000 19,000 Classify the above costs of Santana Corporation into activity cost pools using the following:...
Identify a cost driver that may be used to assign each cost pool to each line...
Identify a cost driver that may be used to assign each cost pool to each line of snowmobiles. Cost Driver Budgeted Costs Machine setup, Indirect materials Inspections Tests Insurance, plant Engineering design Depreciation, machinery Machine setup, indirect labor Property taxes oil, heating Electricity, plant lighting Engineering prototypes Depreciation, plant Electricity, machinery Machine maintenance wages Exercise 4-1 (Video) Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct...
Budgeted Cost $ 86,100 45,000 7,200 57,000 23,000 14,000 51,250 18,800 36,700 22,500 8,3ee 220,000 Name...
Budgeted Cost $ 86,100 45,000 7,200 57,000 23,000 14,000 51,250 18,800 36,700 22,500 8,3ee 220,000 Name of Budgeted Cost Plant insurance Testing raw materials Manufacturing equipment setup Quality inspections Property taxes Electricity, plant Electricity, manufacturing equipment Depreciation, plant Depreciation, manufacturing equipment Maintenance worker (manufacturing equipment) Indirect labor (manufacturing equipment setup) Design engineering Required: 1. Assign each of the budgeted costs above to one of the following activity cost pools: Engineering Equipment setup Quality control • Factory facilities Manufacturing equipment 2....
A company has identified the following overhead costs and cost drivers for the coming year: (CIA...
A company has identified the following overhead costs and cost drivers for the coming year: (CIA adapted) Overhead Item Machine setup Inspection Material handling Engineering Cost Driver Budgeted Cost Number of setups $ 20,000 Number of inspections 130,000 Number of material moves 80,000 Engineering hours 50,000 Budgeted Activity Level 200 6,500 8,000 1,000 Budgeted direct labor cost was $100,000 and budgeted direct material cost was $280,000. The following Information was collected on three jobs that were completed during the year:...
Product costs using activity rates Setup Hercules Inc. manufactures elliptical exercise machines and treadmills. The products...
Product costs using activity rates Setup Hercules Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: Activity Activity Rate Fabrication $25 per machine hour Assembly $31 per direct labor hour $94 per setup Inspecting $18 per inspection Production scheduling $17 per production order Purchasing $8 per...
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire...
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Procurement Scheduling Materials handling Product development Production Activity Cost Activity Base $347,800 Number of purchase orders 205,800 Number of production orders 491,900 Number of moves 779,400 Number of engineering changes 1,418,700 Machine hours Number of Engineering Machine Changes Hours...
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire...
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Activity Cost Activity Base Procurement $371,200 Number of purchase orders Scheduling 234,000 Number of production orders Materials handling 486,400 Number of moves Product development 744,600 Number of engineering changes Production 1,479,200 Machine hours Number of Purchase Orders Number of...
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire...
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Procurement Scheduling Materials handling Product development Production Activity Cost Activity Base $302,500 Number of purchase orders 248,300 Number of production orders 496,300 Number of moves 772,900 Number of engineering changes 1,560,800 Machine hours Number of Engineering Changes 10 Number...
Antuan Company set the following standard costs for one unit of its product. Direct materials (6...
Antuan Company set the following standard costs for one unit of its product. Direct materials (6 lbs. @ $5 per Ib.) Direct labor (2 hrs. $17 per hr.) Overhead (2 hrs. $18.50 per hr.) Total standard cost $ 30 34 37 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity...
Antuan Company set the following standard costs for one unit of its product. Direct materials (4.Ibs....
Antuan Company set the following standard costs for one unit of its product. Direct materials (4.Ibs. @ $4.00 per Ib.) Direct labor (1.8 hrs. @ $12.00 per hr.) Overhead (1.8 hrs. $18.50 per hr.) Total standard cost $16.00 21.60 33.30 $79.98 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity...
Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are budgeted for the first quarter's operations. Machine setup, indirect materials Inspections Tests Insurance, plant Engineering design Depreciation, machinery Machine setup, indirect labor Property taxes Oil, heating Electricity, plant lighting Engineering prototypes Depreciation, plant Electricity, machinery Machine maintenance wages $4,000 16,000 4,000 110,000 140,000 520,000 20,000 29,000 19,000 21,000 60,000 210,000 36,000 19,000 Classify the above costs of Santana Corporation into activity cost pools using the following:...
Identify a cost driver that may be used to assign each cost pool to each line of snowmobiles. Cost Driver Budgeted Costs Machine setup, Indirect materials Inspections Tests Insurance, plant Engineering design Depreciation, machinery Machine setup, indirect labor Property taxes oil, heating Electricity, plant lighting Engineering prototypes Depreciation, plant Electricity, machinery Machine maintenance wages Exercise 4-1 (Video) Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct...
Budgeted Cost $ 86,100 45,000 7,200 57,000 23,000 14,000 51,250 18,800 36,700 22,500 8,3ee 220,000 Name of Budgeted Cost Plant insurance Testing raw materials Manufacturing equipment setup Quality inspections Property taxes Electricity, plant Electricity, manufacturing equipment Depreciation, plant Depreciation, manufacturing equipment Maintenance worker (manufacturing equipment) Indirect labor (manufacturing equipment setup) Design engineering Required: 1. Assign each of the budgeted costs above to one of the following activity cost pools: Engineering Equipment setup Quality control • Factory facilities Manufacturing equipment 2....
A company has identified the following overhead costs and cost drivers for the coming year: (CIA adapted) Overhead Item Machine setup Inspection Material handling Engineering Cost Driver Budgeted Cost Number of setups $ 20,000 Number of inspections 130,000 Number of material moves 80,000 Engineering hours 50,000 Budgeted Activity Level 200 6,500 8,000 1,000 Budgeted direct labor cost was $100,000 and budgeted direct material cost was $280,000. The following Information was collected on three jobs that were completed during the year:...
Product costs using activity rates Setup Hercules Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: Activity Activity Rate Fabrication $25 per machine hour Assembly $31 per direct labor hour $94 per setup Inspecting $18 per inspection Production scheduling $17 per production order Purchasing $8 per...
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Procurement Scheduling Materials handling Product development Production Activity Cost Activity Base $347,800 Number of purchase orders 205,800 Number of production orders 491,900 Number of moves 779,400 Number of engineering changes 1,418,700 Machine hours Number of Engineering Machine Changes Hours...
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Procurement Scheduling Materials handling Product development Production Activity Cost Activity Base $302,500 Number of purchase orders 248,300 Number of production orders 496,300 Number of moves 772,900 Number of engineering changes 1,560,800 Machine hours Number of Engineering Changes 10 Number...
Antuan Company set the following standard costs for one unit of its product. Direct materials (6 lbs. @ $5 per Ib.) Direct labor (2 hrs. $17 per hr.) Overhead (2 hrs. $18.50 per hr.) Total standard cost $ 30 34 37 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity...
Antuan Company set the following standard costs for one unit of its product. Direct materials (4.Ibs. @ $4.00 per Ib.) Direct labor (1.8 hrs. @ $12.00 per hr.) Overhead (1.8 hrs. $18.50 per hr.) Total standard cost $16.00 21.60 33.30 $79.98 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity...
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