Homework Answers
Under unit based product costing, direct labor is directly traced to the product.
The answer is Option d.
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Oa. If unit-based product costing is used, which of the following would be traced directly to...
Which of the following is true of a unit-based costing system? a. It estimates the time...
Which of the following is true of a unit-based costing system? a. It estimates the time to perform one unit of activity. b. It assigns only manufacturing costs to products. c. It measures the demands that cost objects place on support activities. d. It offers greater product costing accuracy than an activity-based costing system. If unit-based product costing is used, which of the following would be traced directly to the product? a. inspection costs b. maintenance of machinery c. setup...
Activity-Based Costing Slack Corporation has the following predicted indirect costs and cost drivers for 2016 for...
Activity-Based Costing Slack Corporation has the following predicted indirect costs and cost drivers for 2016 for the given activity cost pools Fabrication Department Finishing Department Cost Driver Maintenance Materials handling Machine setups Inspections $65,000 30,000 70,000 $55,000 Machine hours 15,000 Material moves 5,000 Machine setups 25,000 Inspection hours 165,000 $100,000 The following activity predictions were also made for the year Machine hours Material moves Machine setups Inspection hours Fabrication Department Finishing Department 5,000 1,500 50 1,000 10,000 3,000 700 It...
Which of the following costs incurred by a chair manufacturer would be traced to the product...
Which of the following costs incurred by a chair manufacturer would be traced to the product cost through direct tracing? The woodworker's salary The depreciation on factory equipment The supervisor's salary The insurance on the factory building Which of the following costs incurred by a bus manufacturer would NOT be directly attributable to the finished product? The tires for buses The wages paid to assembly-line production workers The windshields for buses The depreciation on the factory building
Traditional Product Costing versus Activity-Based Costing Assume that Panasonic Company has determined its estimated total manufacturing...
Traditional Product Costing versus Activity-Based Costing Assume that Panasonic Company has determined its estimated total manufacturing overhead cost for one of its plants to be $1,272,800 consisting of the following activity cost pools for the current month: Activity Centers Activity Costs Cost Drivers Activity Level Assembly setups $ 264,000 Setup hours 2.000 Materials handing 129,600 Number of moves 600 Assembly 720,000 Assembly hours 18,000 Maintenance 159,200 Maintenance hours 1.990 Total $1,272,800 Total direct labor hours used during the month were...
5) Which of the following would NOT be a cost that could be directly traced to...
5) Which of the following would NOT be a cost that could be directly traced to a custom piece of furniture based upon physical observation? a) The wood and upholstery materials that are in the final plece. bl.The depreciation on factory equipment. Sl.The.labor of the wacket assembling the piece. at furniture d) The labor of the woodworker who finishes the wood of the piece. Answer: _(2 points) 6) Which of the following items would NOT be classified as part of...
Traditional costing system allocate overhead based on a standard unit-based measure that ll products have in...
Traditional costing system allocate overhead based on a standard unit-based measure that ll products have in common machine hours, processing time or direct labor hours but these allocation measures assume all overhead cost are directly related to units produced. Company uses a standard allocation method for overhead of 400% of direct labor costs. to produce 100000 units of product A requires $35000 of direct material and $80000 of direct labor costs. To produce 3000 units of product B requires $12000...
Darwin Company reports the following information: Sales $76,500 Direct materials used Depreciation on factory equipment Indirect...
Darwin Company reports the following information: Sales $76,500 Direct materials used Depreciation on factory equipment Indirect labor 7,300 4,700 5,900 Direct labor 10,500 4,200 Factory rent Factory utilities Sales salaries expense Office salaries expense 1,200 15,600 8,900 1,200 Indirect materials Product costs are Oa. $29,200 Ob. $24,500 Oc. $35,000 Od. $30,300 AssignmentMain.do?invoker=&takeAssignmentSessionLocator=8inprogress=false Calculator Which of the following is not a characteristic of a job order costing system? Oa. It is best suited for industries that manufacture custom goods. Ob. It...
EXPLAIN STEP BY STEP Traditional Product Costing versus Activity-Based Costing Assume that Panasonic Company has determined...
EXPLAIN STEP BY STEP Traditional Product Costing versus Activity-Based Costing Assume that Panasonic Company has determined its estimated total manufacturing overhead cost for one of its plants to be $1,591,000, consisting of the following activity cost pools for the current month: Activity Centers Activity Costs Cost Drivers Activity Level Assembly setups $ 330,000 Setup hours 2,000 Materials handing 162,000 Number of moves 600 Assembly 900,000 Assembly hours 18,000 Maintenance 199,000 Maintenance hours 1,990 Total $1,591,000 Total direct labor hours used...
Need help please. Traditional Product Costing versus Activity-Based Costing Assume that Panasonic Company has determined its...
Need help please. Traditional Product Costing versus Activity-Based Costing Assume that Panasonic Company has determined its estimated total manufacturing overhead cost for one of its plants to be $954,600 consisting of the following activity cost pools for the current month: Activity Centers Activity Costs Cost Drivers Activity Level Assembly setups $ 198,000 Setup hours 2,000 Materials handing 97,200 Number of moves 600 Assembly 540,000 Assembly hours 18,000 Maintenance 119,400 Maintenance hours 1,990 Total $954,600 Total direct labor hours used during...
Activity-Based Costing Slack Corporation has the following predicted indirect costs and cost drivers for 2016 for...
Activity-Based Costing Slack Corporation has the following predicted indirect costs and cost drivers for 2016 for the given activity cost pools: Maintenance Materials handling Machine setups Inspections Fabrication Department Finishing Department Cost Driver $35,000 $25,000 Machine hours 30,000 15,000 Material moves 70,000 5,000 Machine setups 25,000 Inspection hours $135,000 $70,000 The following activity predictions were also made for the year: Machine hours Material moves Machine setups Inspection hours Fabrication Department Finishing Department 10,000 5,000 3,000 1,500 700 1,000 50 It...
Which of the following is true of a unit-based costing system? a. It estimates the time to perform one unit of activity. b. It assigns only manufacturing costs to products. c. It measures the demands that cost objects place on support activities. d. It offers greater product costing accuracy than an activity-based costing system. If unit-based product costing is used, which of the following would be traced directly to the product? a. inspection costs b. maintenance of machinery c. setup...
Activity-Based Costing Slack Corporation has the following predicted indirect costs and cost drivers for 2016 for the given activity cost pools Fabrication Department Finishing Department Cost Driver Maintenance Materials handling Machine setups Inspections $65,000 30,000 70,000 $55,000 Machine hours 15,000 Material moves 5,000 Machine setups 25,000 Inspection hours 165,000 $100,000 The following activity predictions were also made for the year Machine hours Material moves Machine setups Inspection hours Fabrication Department Finishing Department 5,000 1,500 50 1,000 10,000 3,000 700 It...
Traditional Product Costing versus Activity-Based Costing Assume that Panasonic Company has determined its estimated total manufacturing overhead cost for one of its plants to be $1,272,800 consisting of the following activity cost pools for the current month: Activity Centers Activity Costs Cost Drivers Activity Level Assembly setups $ 264,000 Setup hours 2.000 Materials handing 129,600 Number of moves 600 Assembly 720,000 Assembly hours 18,000 Maintenance 159,200 Maintenance hours 1.990 Total $1,272,800 Total direct labor hours used during the month were...
5) Which of the following would NOT be a cost that could be directly traced to a custom piece of furniture based upon physical observation? a) The wood and upholstery materials that are in the final plece. bl.The depreciation on factory equipment. Sl.The.labor of the wacket assembling the piece. at furniture d) The labor of the woodworker who finishes the wood of the piece. Answer: _(2 points) 6) Which of the following items would NOT be classified as part of...
Darwin Company reports the following information: Sales $76,500 Direct materials used Depreciation on factory equipment Indirect labor 7,300 4,700 5,900 Direct labor 10,500 4,200 Factory rent Factory utilities Sales salaries expense Office salaries expense 1,200 15,600 8,900 1,200 Indirect materials Product costs are Oa. $29,200 Ob. $24,500 Oc. $35,000 Od. $30,300 AssignmentMain.do?invoker=&takeAssignmentSessionLocator=8inprogress=false Calculator Which of the following is not a characteristic of a job order costing system? Oa. It is best suited for industries that manufacture custom goods. Ob. It...
Activity-Based Costing Slack Corporation has the following predicted indirect costs and cost drivers for 2016 for the given activity cost pools: Maintenance Materials handling Machine setups Inspections Fabrication Department Finishing Department Cost Driver $35,000 $25,000 Machine hours 30,000 15,000 Material moves 70,000 5,000 Machine setups 25,000 Inspection hours $135,000 $70,000 The following activity predictions were also made for the year: Machine hours Material moves Machine setups Inspection hours Fabrication Department Finishing Department 10,000 5,000 3,000 1,500 700 1,000 50 It...
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