Homework Answers
In rest of the questions, answers are already provided with explanation except first question.
Answer of First Question is:
There is cause and effect relationship between the cost driver and the amount of cost.
Usage of Cost driver will effect the amount increase or decrease in cost of overheads. For example, increase No. of set ups increase the set up cost.
Add Answer to:
14) Which of the following statements is true? A) Over the short nun all costs have...
All Rite Manufacturing reported the following: Revenue Beginning inventory of direct materials, January 1, 2015 Purchases...
All Rite Manufacturing reported the following: Revenue Beginning inventory of direct materials, January 1, 2015 Purchases of direct materials Ending inventory of direct materials, December 31, 2015 Direct manufacturing labor Indirect manufacturing costs Beginning inventory of finished goods, January 1, 2015 Cost of goods manufactured Ending inventory of finished goods, December 31, 2015 Operating costs $450,000 27,000 160,000 13,000 24,000 47,000 50,000 245,000 41,000 159,000 What is All Rite Manufacturing's cost of goods sold? O A. $413,000 B. $245,000 *C....
Please organize the chart as seen and explain all calculations, other wise I will mark as...
Please organize the chart as seen and explain all calculations,
other wise I will mark as incorrect. Thank You!
Using the following data, Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts...
Leslie Manufacturing reported the following Revenue $450,000 Beginning inventory of direct materials, January 1, 2015 20,000...
Leslie Manufacturing reported the following Revenue $450,000 Beginning inventory of direct materials, January 1, 2015 20,000 Purchases of direct materials 156,000 Ending inventory of direct materials, December 31,2015 18,000 Direct manufacturing labor 21,000 Indirect manufacturing costs 42,000 Beginning inventory of finished goods, January 1, 2015 40,000 Cost of goods manufactured 114,000 Ending inventory of finished goods, December 31, 2015 45,000 Operating costs 150,000 What is Leslie's Operating Income?
First Class, Inc., expects to sell 26,000 pool cues for $14 each. Direct materials costs are...
First Class, Inc., expects to sell 26,000 pool cues for $14 each. Direct materials costs are $2, direct manufacturing labor is $4, and manufacturing overhead is $0.89 per pool cue. The following inventory levels apply to 2019: Direct materials Work-in-process inventory Finished goods inventory Beginning inventory 31,000 units O units 1,800 units Ending inventory 31,000 units O units 3,300 units On the 2019 budgeted income statement, what amount will be reported for cost of goods sold? $189,475 $179,140 $168,805 $201,877
Superior Company provided the following data for the year ended December 31 (all raw materials are...
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 211,000 Purchases of raw materials $ 260,000 Direct labor ? Administrative expenses $ 152,000 Manufacturing overhead applied to work in process $ 372,000 Actual manufacturing overhead cost $ 354,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 50,000 $ 31,000 Work...
Problems Problem I (10 Points) Classify the following costs for an auto manufacturers either direct materials,...
Problems Problem I (10 Points) Classify the following costs for an auto manufacturers either direct materials, direct labor manufacturing overhead, or period costs Direct Direct Manufacturi Materials Lahor Overhead Steel tein tomobiles Assembly department employee wages c. Unility costs used in executive bilding d. Travel Costs of sales personnel e. Cost of shipping goods to customers Property taxes on assembly plan sa Glass in automobiles h. Factory maintenance supplies Depreciation on assembly plant Plant manager's salary RCEO's salary 1. Depreciation...
evony BUS2102-Spring 2019-Chapter 2 Fun &Exciting Exercises Always show your work when doing fun &exciting exercises...
evony BUS2102-Spring 2019-Chapter 2 Fun &Exciting Exercises Always show your work when doing fun &exciting exercises Question 1) Supply the missing data in the four cases below. Each case is independent of the others Case 1Case 2Case 3 Case4 S 14,000$ 9,00o $ 6,000 $ 8,000 Direct materials Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured 4,000 4,000 5,000 20,000 G 7,000 31,000 25,00018.000 1,000 2,000 4,000...
1. Which of the following statements is true? A. A process costing system will have a...
1. Which of the following statements is true? A. A process costing system will have a single work in process account B. A process costing system will have a separate raw materials account for each of the major processes. C. A process costing system will have a separate work in process account for each of the major processes 2. The journal entry to record the actual Manufacturing Overhead incurred includes A. a debit to Manufacturing Overhead B. a debit to...
Which of the following is true of absorption costing? It expenses marketing costs as cost of...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
Can someone please help me with questions 4-6? Thanks 4.Which of the following are period costs?...
Can someone please help me with questions 4-6? Thanks
4.Which of the following are period costs? a. Raw materials b. Direct materials and direct labor c. Direct labor and manufacturing overhead d. Selling expenses 5.Current information for the Stellar Corporation follows: Beginning work in process inventory $17,900 Ending work in process inventory 19,300 Direct materials 147,000 Direct labor 85,000 Total factory overhead 63,100 Stellar Corporation's Cost of Goods Manufactured for the year is: a. $293,700. b. $313,000. c. $295,100. d....
All Rite Manufacturing reported the following: Revenue Beginning inventory of direct materials, January 1, 2015 Purchases of direct materials Ending inventory of direct materials, December 31, 2015 Direct manufacturing labor Indirect manufacturing costs Beginning inventory of finished goods, January 1, 2015 Cost of goods manufactured Ending inventory of finished goods, December 31, 2015 Operating costs $450,000 27,000 160,000 13,000 24,000 47,000 50,000 245,000 41,000 159,000 What is All Rite Manufacturing's cost of goods sold? O A. $413,000 B. $245,000 *C....
Please organize the chart as seen and explain all calculations,
other wise I will mark as incorrect. Thank You!
Using the following data, Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts...
First Class, Inc., expects to sell 26,000 pool cues for $14 each. Direct materials costs are $2, direct manufacturing labor is $4, and manufacturing overhead is $0.89 per pool cue. The following inventory levels apply to 2019: Direct materials Work-in-process inventory Finished goods inventory Beginning inventory 31,000 units O units 1,800 units Ending inventory 31,000 units O units 3,300 units On the 2019 budgeted income statement, what amount will be reported for cost of goods sold? $189,475 $179,140 $168,805 $201,877
Problems Problem I (10 Points) Classify the following costs for an auto manufacturers either direct materials, direct labor manufacturing overhead, or period costs Direct Direct Manufacturi Materials Lahor Overhead Steel tein tomobiles Assembly department employee wages c. Unility costs used in executive bilding d. Travel Costs of sales personnel e. Cost of shipping goods to customers Property taxes on assembly plan sa Glass in automobiles h. Factory maintenance supplies Depreciation on assembly plant Plant manager's salary RCEO's salary 1. Depreciation...
evony BUS2102-Spring 2019-Chapter 2 Fun &Exciting Exercises Always show your work when doing fun &exciting exercises Question 1) Supply the missing data in the four cases below. Each case is independent of the others Case 1Case 2Case 3 Case4 S 14,000$ 9,00o $ 6,000 $ 8,000 Direct materials Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured 4,000 4,000 5,000 20,000 G 7,000 31,000 25,00018.000 1,000 2,000 4,000...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
Can someone please help me with questions 4-6? Thanks
4.Which of the following are period costs? a. Raw materials b. Direct materials and direct labor c. Direct labor and manufacturing overhead d. Selling expenses 5.Current information for the Stellar Corporation follows: Beginning work in process inventory $17,900 Ending work in process inventory 19,300 Direct materials 147,000 Direct labor 85,000 Total factory overhead 63,100 Stellar Corporation's Cost of Goods Manufactured for the year is: a. $293,700. b. $313,000. c. $295,100. d....
Most questions answered within 3 hours.
-
Now that we have some familiarity with random variables, we are
going to start a discussion...
asked 12 minutes ago -
A beam of microwaves with λ = 0.9 mm is incident upon a 9 cm
slit....
asked 5 minutes ago -
It is common to hear comments like “Why do baseball players
earn millions of dollars a...
asked 3 minutes ago -
A random sample of 40 adults with no children under
the age of 18 years reaults...
asked 9 minutes ago -
You
are setting up a class so that you can train several junior
administrators on Windows...
asked 12 minutes ago -
True or False?
1) The superfund legislation established a national trust fund
to pay for the...
asked 22 minutes ago -
n January 1, Coldwater Company has a net book value of
$1,683,000 as follows:
1,050 shares...
asked 21 minutes ago -
Robert was able to travel 166.0 miles in 4.000 hours and used 38
liters of gasoline....
asked 27 minutes ago -
Explain the differences between FIND and FINDSTR command in
windows:
[write in a few sentences]
asked 38 minutes ago -
A 200g block attached to a horizontal spring is oscillating with
an amplitude of 2.0cm and...
asked 41 minutes ago -
When solving for an optimal bundle using the Hicksian and
Marshallian demand, should you get the...
asked 42 minutes ago -
1. The standard width between rails on North American and most
European railroads is 5 ft...
asked 39 minutes ago