Homework Answers
1)
Hours for fixed cost given are of no relevance because it will remain same at all levels.
Fixed Cost = $120,000
Total Variable cost for 4,100 hours = $370,000
Variable Cost per hour = $370,000 / 4,100 = $90.24 per hour
Since the fixed cost will remain same at all levels and variable cost will increase on the basis of number of labour hours.
Total cost function =
y = $120,000 + $90.24x
2)
Fixed Cost = $120,000
Total Variable cost for 4,400 hours = $430,000
Variable Cost per hour = $430,000 / 4,400 = $97.73 per hour
Total Variable cost for 6,900 hours = 6,900 hours * $97.73 per hour
= $ 674,337
Add Answer to:
0.4 points Save Answer High Tech Manufacturing Inc, incurred total indirect manufacturing labor costs of $490,000....
I am wondering how to do this problem. Please show work 14. High Tech Manufacturing Inc.,...
I am wondering how to do this problem. Please show work
14. High Tech Manufacturing Inc., incurred total indirect manufacturing labor costs of $490,000. The company is labor intensive. Total labor hours during the period were 4,100. Using qualitative analysis, the manager and the management accountant determine that over the period the indirect manufacturing labor costs are mixed costs with only one cost driver-labor-hours. They separated the total indirect manufacturing labor costs into costs that are fixed ($120,000 based on...
High-Low and Cost Formula Harrison Company has accumulated the following total manufacturing overhead costs for two...
High-Low and Cost Formula Harrison Company has accumulated the following total manufacturing overhead costs for two levels of activity (within the relevant range): Low High Activity (direct labor hours) 80,000 120,000 Total manufacturing overhead $234,000 $302,000 The total overhead cost includes variable, fixed, and mixed costs. At 120,000 direct labor hours, the total cost breakdown is as follows: Variable cost $132,000 Fixed cost 80,000 Semi-mixed cost $90,000 a. Using the high-low method of cost analysis, determine the variable portion of...
During June, Buttrey Corporation incurred $84.000 of Grect labor costs and $24,000 of indirect labor costs....
During June, Buttrey Corporation incurred $84.000 of Grect labor costs and $24,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a Multiple Choice debt to work in Process of 504.000 Cred to work in Process of SOB,000 o o debit to Work in Process of $100,000 o credit to Work in Process of 4000 Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's Inventory balances were as...
1. (2.5 points) Total manufacturing indirect maintenance costs are $100, and total indirect set-up costs are...
1. (2.5 points) Total manufacturing indirect maintenance costs are $100, and total indirect set-up costs are $200. You produced and sold 10 units of product A and 6 units of product B. Product A uses 2 direct labor dollars per unit and 5 machine hours per unit, and product B uses 5 direct labor dollars per unit and 3 machine hours per unit. You allocate manufacturing maintenance costs based on direct labor dollars, and set-up costs based on the number...
Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance,...
Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) $400,00e Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,00e 130,e00 8,000 240,000 10,000 $473,00e $ 20,00e 30,000 $ 40,000e $ 70,00e The company uses a predetermined overhead rate of $25 per machine-hour to apply...
Manufacturing overhead costs incurred: Indirect materials $15,000 Indirect labor 130,000 Property taxes, factory 8,000 Utilities, factory...
Manufacturing overhead costs incurred: Indirect materials $15,000 Indirect labor 130,000 Property taxes, factory 8,000 Utilities, factory 70,000 Depreciation, factory 240,000 Insurance, factory 10,000 Total actual manufacturing overhead costs incurred $473,000 Other costs incurred: Purchases of raw materials (both direct and indirect) $400,000 Direct labor cost $60,000 Inventories: Raw materials, beginning $20,000 Raw materials, ending $30,000 Work in process, beginning $20,000 Work in process, ending $70,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.10 Indirec...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.10 Indirect materials 0.70 Utilities 0.40 Fixed overhead costs per month are Supervision $4100, Depreciation $2000, and Property Taxes $500. The company believes it will normally operate in a range of 7100-12800 direct labor hours per month. Assume that in July 2017, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed...
15) Which of the following corred h e n ie for indirect labor com A) Indirect...
15) Which of the following corred h e n ie for indirect labor com A) Indirect labor costs are products and are a s incurred B) Indirect labor costs are period costs and are expenses incurred C) Indirect labor costs are period costs and are ned when the manufactured products D) Indirect labor costs are products and re d when the manufactured product is sold 16) Matthew's Fish Fry has a monthly target operating income of 57200 Variable expenses are...
juattoleE year Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation,...
juattoleE year Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories Raw materials, beginning Raw materlals, ending work in process, beginning Work in process, ending $ 16,6e8 146,eee 9,600 86,eee 252,700 11,6e0 $522,5e0 $ 416,000 $76,e00 $ 21,600 $ 31,6e0 $ 41.6ee $ 71.600 The company uses a predetermined overhead rate...
Raw materials purchases $ 75,000 Direct labor cost $100,000 Manufacturing overhead cost incurred $ 68,000 Indirect...
Raw materials purchases $ 75,000 Direct labor cost $100,000 Manufacturing overhead cost incurred $ 68,000 Indirect materials included in manufacturing overhead cost incurred $ 11,600 Manufacturing overhead cost applied to Work in Process $ 67,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is: Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined...
I am wondering how to do this problem. Please show work
14. High Tech Manufacturing Inc., incurred total indirect manufacturing labor costs of $490,000. The company is labor intensive. Total labor hours during the period were 4,100. Using qualitative analysis, the manager and the management accountant determine that over the period the indirect manufacturing labor costs are mixed costs with only one cost driver-labor-hours. They separated the total indirect manufacturing labor costs into costs that are fixed ($120,000 based on...
During June, Buttrey Corporation incurred $84.000 of Grect labor costs and $24,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a Multiple Choice debt to work in Process of 504.000 Cred to work in Process of SOB,000 o o debit to Work in Process of $100,000 o credit to Work in Process of 4000 Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's Inventory balances were as...
Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) $400,00e Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,00e 130,e00 8,000 240,000 10,000 $473,00e $ 20,00e 30,000 $ 40,000e $ 70,00e The company uses a predetermined overhead rate of $25 per machine-hour to apply...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.10 Indirect materials 0.70 Utilities 0.40 Fixed overhead costs per month are Supervision $4100, Depreciation $2000, and Property Taxes $500. The company believes it will normally operate in a range of 7100-12800 direct labor hours per month. Assume that in July 2017, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed...
15) Which of the following corred h e n ie for indirect labor com A) Indirect labor costs are products and are a s incurred B) Indirect labor costs are period costs and are expenses incurred C) Indirect labor costs are period costs and are ned when the manufactured products D) Indirect labor costs are products and re d when the manufactured product is sold 16) Matthew's Fish Fry has a monthly target operating income of 57200 Variable expenses are...
juattoleE year Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories Raw materials, beginning Raw materlals, ending work in process, beginning Work in process, ending $ 16,6e8 146,eee 9,600 86,eee 252,700 11,6e0 $522,5e0 $ 416,000 $76,e00 $ 21,600 $ 31,6e0 $ 41.6ee $ 71.600 The company uses a predetermined overhead rate...
Raw materials purchases $ 75,000 Direct labor cost $100,000 Manufacturing overhead cost incurred $ 68,000 Indirect materials included in manufacturing overhead cost incurred $ 11,600 Manufacturing overhead cost applied to Work in Process $ 67,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is: Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined...
Most questions answered within 3 hours.
-
Kyle, a 95.0 kg football player, leaps straight up into the air
(with no horizontal velocity)...
asked 11 minutes ago -
Which of the following is a measure of profitability?
A.
Quick (acid-test) ratio
B.
Net sales...
asked 14 minutes ago -
Find the total pressure exerted by 2 grams of ethane and 3 grams
of CO2 contained...
asked 15 minutes ago -
A fireman standing on a 5.2 m high ladder operates a water hose
with a round...
asked 11 minutes ago -
A cream formulation is studied for accelerated stability study.
Creaming was observed when formulation was tested...
asked 14 minutes ago -
A 1,150 lumen light bulb is placed 37 cm in front of a mirrored
wall, whose...
asked 24 minutes ago -
Given that z is a standard normal random variable, compute the
following probabilities (to 4 decimals)....
asked 31 minutes ago -
You begin preparation of the calibration curve to measure
absorbance vs concentration of FeSCN2+. To do...
asked 48 minutes ago -
When you speak after breathing helium, in which the speed of
sound is much greater than...
asked 41 minutes ago -
3. Stock Valuation: You are the CEO of Under Armour, Inc. and
are thinking about how...
asked 45 minutes ago -
Choose a brand. Critique the brand in terms of its brand
positioning, brand identity and brand...
asked 48 minutes ago -
A vertical curve has grades G1 = 2.8% (downgrade) and
G2 = 2.2 (upgrade) Assume design...
asked 48 minutes ago