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5 The following cost information pertained to the Violin Division of Stringing Music Co. and was...
The following cost information pertained to the Violin Division of Stringing Music Co. and was based...
The following cost information pertained to the Violin Division of Stringing Music Co. and was based on monthly demand and sales of 100 units: Per-Unit Costs Variable production costs: Direct materials $ 170 Direct labor 200 Variable factory overhead 110 Fixed production costs: Depreciation (equipment) 70 Factory rent 98 Other 22 Total production cost $ 670 Variable selling & administrative costs $ 34 per unit Fixed selling & administrative costs $ 46 per unit Given a normal selling price per...
Preston Industries, Inc. currently manufactures part QX100, which is used in several products produced by the...
Preston Industries, Inc. currently manufactures part QX100, which is used in several products produced by the company. Monthly production costs for 10,000 units of QX100 are as follows: Direct materials Direct labor Variable overhead costs Fixed overhead costs Total manufacturing costs $ 82,000 $ 13,000 $ 40,000 $ 44,000 $179,000 Accounting has estimated that 20% of the fixed overhead costs currently assigned to QX100 would not be needed if the company chose to purchase the part from an outside supplier....
1. Colina Production Company uses a standard costing system. The following information pertains to the current...
1. Colina Production Company uses a standard costing system. The following information pertains to the current year. Direct labor hours is the driver used to assign overhead costs to products. Actual production 5,500 units Actual factory overhead costs ($16,500 is fixed) $40,125 Actual direct labor costs (11,250 hours) $131,625 Standard direct labor for 5,500 units: Standard hours allowed 11,000 hours Labor rate $12.00 The factory overhead rate is based on an activity level of 10,000 direct labor hours. Standard cost...
Super Systems Ltd. manufactures a number of computer hardware products. The following variable cost standards have...
Super Systems Ltd. manufactures a number of computer hardware products. The following variable cost standards have been set for one of their products. Particulars Standard Price/rate Direct materials $10 per pound Direct labor ? Variable manufacturing overhead $5.375 per hour Total standard variable cost to manufacture the product is $75 per product. During February, 850 direct labor hours were worked and 600 units of the product were manufactured. Each unit of product required one unit of raw material. The actual...
Super Systems Ltd. manufactures a number of computer hardware products. The following variable cost standards have...
Super Systems Ltd. manufactures a number of computer hardware products. The following variable cost standards have been set for one of their products. Particulars Standard Price/rate Direct materials $10 per pound Direct labor ? Variable manufacturing overhead $5.375 per hour Total standard variable cost to manufacture the product is $75 per product. During February, 850 direct labor hours were worked and 600 units of the product were manufactured. Each unit of product required one unit of raw material. The actual...
Black and Decker Corporation has the following information is for their standard and actual costs: Standard...
Black and Decker Corporation has the following information is for their standard and actual costs: Standard Costs: Budgeted units of production - 9,000 (100% of capacity) Standard material per unit - 12 lbs. Standard material cost - $14.00 per pound Standard labor hours per unit - 12 Standard labor rate - $29.00 per hour Standard variable overhead rate - $7.50 per labor hour Budgeted fixed overhead - $729,000 Fixed overhead rate is based on budgeted labor hours at 100% capacity...
Smythe Co. makes furniture. The following data are taken from its production plans for the year. Direct labor cost...
Smythe Co. makes furniture. The following data are taken from its production plans for the year. Direct labor costs Hazardous waste disposal costs $5,390,000 605,000 Expected production Direct labor hours required Hazardous waste disposed Chairs 218,000 units 254,000 DLH 300 pounds Tables 12,000 units 15, 200 DLH 900 pounds Required: 1. Determine the hazardous waste disposal cost per unit for chairs and for tables if costs are assigned using a single plantwide overhead rate based on direct labor hours. Product...
Grover Company has the following data for the production and sale of 1,600 units. Sales price...
Grover Company has the following data for the production and sale of 1,600 units. Sales price per unit $ 900 per unit Fixed costs: Marketing and administrative $ 304,000 per period Manufacturing overhead $ 288,000 per period Variable costs: Marketing and administrative $ 60 per unit Manufacturing overhead $ 90 per unit Direct labor $ 110 per unit Direct materials $ 210 per unit What is the variable manufacturing cost per unit? Multiple Choice $410 $470 $590 $840
Urban Company reports the following Information regarding its production cost Units produced Direct labor Direct materials...
Urban Company reports the following Information regarding its production cost Units produced Direct labor Direct materials Variable overhead Fixed overhead S 20,000 units 13 per unit 18 per unit 11 per unit $110,000 in total Compute production cost per unit under variable costing Multiple Choice $18.00 O 0 $3650 o Compute production cost per unit under variable costing Multiple Choice o O s18.00 o О 536 50 o О 34200 o О 31300 o С этоо
Grover Company has the following data for the production and sale of 1,700 units. 900 per...
Grover Company has the following data for the production and sale of 1,700 units. 900 per unit $580,000 per period $314,500 per period Sales price per unit Fixed costs: Marketing and administrative Manufacturing overhead Variable costs: Marketing and administrative Manufacturing overhead Direct labor Direct Materials A A A A 65 per unit 95 per unit 115 per unit 220 per unit What is the conversion cost per unit? Multiple Choice $395 $115 $210 $430
Preston Industries, Inc. currently manufactures part QX100, which is used in several products produced by the company. Monthly production costs for 10,000 units of QX100 are as follows: Direct materials Direct labor Variable overhead costs Fixed overhead costs Total manufacturing costs $ 82,000 $ 13,000 $ 40,000 $ 44,000 $179,000 Accounting has estimated that 20% of the fixed overhead costs currently assigned to QX100 would not be needed if the company chose to purchase the part from an outside supplier....
Smythe Co. makes furniture. The following data are taken from its production plans for the year. Direct labor costs Hazardous waste disposal costs $5,390,000 605,000 Expected production Direct labor hours required Hazardous waste disposed Chairs 218,000 units 254,000 DLH 300 pounds Tables 12,000 units 15, 200 DLH 900 pounds Required: 1. Determine the hazardous waste disposal cost per unit for chairs and for tables if costs are assigned using a single plantwide overhead rate based on direct labor hours. Product...
Urban Company reports the following Information regarding its production cost Units produced Direct labor Direct materials Variable overhead Fixed overhead S 20,000 units 13 per unit 18 per unit 11 per unit $110,000 in total Compute production cost per unit under variable costing Multiple Choice $18.00 O 0 $3650 o Compute production cost per unit under variable costing Multiple Choice o O s18.00 o О 536 50 o О 34200 o О 31300 o С этоо
Grover Company has the following data for the production and sale of 1,700 units. 900 per unit $580,000 per period $314,500 per period Sales price per unit Fixed costs: Marketing and administrative Manufacturing overhead Variable costs: Marketing and administrative Manufacturing overhead Direct labor Direct Materials A A A A 65 per unit 95 per unit 115 per unit 220 per unit What is the conversion cost per unit? Multiple Choice $395 $115 $210 $430
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