Homework Answers
Answer 1) Factory Building Rent
Since Company has to pay factory rent in case of no production also.
Answer 2) Ending Inventory WIP
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Which of the following is a fixed factory overhead cost: office president's salary advertising expense direct...
Advertising expense $ 28,750 Depreciation expense—Office equipment 8,250 Depreciation expense—Selling equipment 10,300 Depreciation expense—Factory equipment 39,550...
Advertising expense $ 28,750 Depreciation expense—Office equipment 8,250 Depreciation expense—Selling equipment 10,300 Depreciation expense—Factory equipment 39,550 Factory supervision 105,060 Factory supplies used 8,100 Factory utilities 39,300 Direct labor 696,000 Indirect labor 69,800 Miscellaneous production costs 10,225 Office salaries expense 72,900 Raw materials purchases* 937,500 Rent expense—Office space 23,000 Rent expense—Selling space 26,700 Rent expense—Factory building 81,200 Maintenance expense—Factory equipment 44,100 Sales 4,712,500 Sales salaries expense 406,160 *Assume that the raw materials inventory account is used only for direct materials. Indirect...
19) A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts,...
19) A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 100,800 Beginning WIP Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 131,040 Factory Overhead 100,800 90,720 Beginning FG Finished Goods Inventory 118,200 324,800 142,000 Ending FG 301,000 A) $113,120. B) $211,680. C) $30.240. D) $106,400. E) $324,800. 20) A company's beginning Work in Process inventory consisted of 20,000 units that...
salesmen commissions direct labor president's salary factory overhead factory depreciation direct materials maintenance supplies j not...
salesmen commissions direct labor president's salary factory overhead factory depreciation direct materials maintenance supplies j not a product cost machine operator plastic parts factory supervisor's salary
#1 A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts,...
#1
A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Factory Overhead 108,700 97.830 Work in Process Inventory Beginning WIP 108,700 Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 141,400 Finished Goods Inventory Beginning FG 127,700 350,900 Ending FG 153,500 325,100
18) The following information relates to Myer, Inc.: Advertising Costs Sales Salary Sales Revenue President's Salary...
18) The following information relates to Myer, Inc.: Advertising Costs Sales Salary Sales Revenue President's Salary Office Rent Manufacturing Equipment Depreciation Indirect Materials Used Indirect Labor Factory Repair and Maintenance Direct Materials Used Direct Labor Delivery Vehicle Depreciation Administrative Salaries $10,600 10,000 500,000 230,000 60,500 1200 8000 13,000 920 27,500 36,000 1550 22,000 How much were Myer's product costs? A) $604,650 B) $252,000 C) $510,600 D) $86,620
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c...
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c Factory utilities d. Direct materials Which of the following costs is considered a direct cost? Depreciation on machinery b. Glue used in the manufacturing process c. The superintendent's salary d. Factory insurance c. Assembly-line labor costs The cost of rent for a manufacturing plant is generally considered to be a: Fixed cost Overhead cost No Yes No No No Yes Yes Yes When production...
A company's overhead rate is 50% of direct labor cost. Using the following incomplete accounts, determine...
A company's overhead rate is 50% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 92,200 ? ? Beginning WIP Direct materials Direct labor Applied overhead To finished goods Ending WIP ? 82,980 119,900 Factory Overhead 92,200 Finished Goods Inventory 108,300 297,600 130,100 Beginning FG 275,800 Ending FG Multiple Choice $27,700. $76,360. $297,600 $221,240. $157,800.
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine...
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 66,000 ? ? Beginning WIP Direct materials Direct labor Applied overhead To finished goods Ending WIP 156,000 76,000 Factory Overhead 154,000 Finished Goods Inventory 56,000 281,000 51,000 Beginning FG 286,000 Ending FG Multiple Choice $286,000. $281,000. $57,000. $154,000. $296,000.
A company's overhead rate is 40% of direct labor cost. Using the following incomplete accounts, determine the cost of d...
A company's overhead rate is 40% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Factory Overhead 95, 2001 85,680 Work in Process Inventory Beginning WIP 95,200 Direct materials Direct labor Applied overhead To finished goods Ending WIP 123,800 Finished Goods Inventory Beginning FG 111,700 306,900 Ending FG 134,200 284,400 Multiple Choice 0 $162,800. 0 $28,600. 0 $35,620. 0 $306,900.
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine...
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 69,000 Beginning WIP Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 159,000 79,000 Factory Overhead 157,000 Finished Goods Inventory 59,000 284,000 54,000 Beginning FG 289,000 Ending FG Multiple Choice O $158,500 0 $55,500. 0 $289,000 $284,000. $299,000
19) A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 100,800 Beginning WIP Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 131,040 Factory Overhead 100,800 90,720 Beginning FG Finished Goods Inventory 118,200 324,800 142,000 Ending FG 301,000 A) $113,120. B) $211,680. C) $30.240. D) $106,400. E) $324,800. 20) A company's beginning Work in Process inventory consisted of 20,000 units that...
salesmen commissions direct labor president's salary factory overhead factory depreciation direct materials maintenance supplies j not a product cost machine operator plastic parts factory supervisor's salary
#1
A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Factory Overhead 108,700 97.830 Work in Process Inventory Beginning WIP 108,700 Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 141,400 Finished Goods Inventory Beginning FG 127,700 350,900 Ending FG 153,500 325,100
18) The following information relates to Myer, Inc.: Advertising Costs Sales Salary Sales Revenue President's Salary Office Rent Manufacturing Equipment Depreciation Indirect Materials Used Indirect Labor Factory Repair and Maintenance Direct Materials Used Direct Labor Delivery Vehicle Depreciation Administrative Salaries $10,600 10,000 500,000 230,000 60,500 1200 8000 13,000 920 27,500 36,000 1550 22,000 How much were Myer's product costs? A) $604,650 B) $252,000 C) $510,600 D) $86,620
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c Factory utilities d. Direct materials Which of the following costs is considered a direct cost? Depreciation on machinery b. Glue used in the manufacturing process c. The superintendent's salary d. Factory insurance c. Assembly-line labor costs The cost of rent for a manufacturing plant is generally considered to be a: Fixed cost Overhead cost No Yes No No No Yes Yes Yes When production...
A company's overhead rate is 50% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 92,200 ? ? Beginning WIP Direct materials Direct labor Applied overhead To finished goods Ending WIP ? 82,980 119,900 Factory Overhead 92,200 Finished Goods Inventory 108,300 297,600 130,100 Beginning FG 275,800 Ending FG Multiple Choice $27,700. $76,360. $297,600 $221,240. $157,800.
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 66,000 ? ? Beginning WIP Direct materials Direct labor Applied overhead To finished goods Ending WIP 156,000 76,000 Factory Overhead 154,000 Finished Goods Inventory 56,000 281,000 51,000 Beginning FG 286,000 Ending FG Multiple Choice $286,000. $281,000. $57,000. $154,000. $296,000.
A company's overhead rate is 40% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Factory Overhead 95, 2001 85,680 Work in Process Inventory Beginning WIP 95,200 Direct materials Direct labor Applied overhead To finished goods Ending WIP 123,800 Finished Goods Inventory Beginning FG 111,700 306,900 Ending FG 134,200 284,400 Multiple Choice 0 $162,800. 0 $28,600. 0 $35,620. 0 $306,900.
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 69,000 Beginning WIP Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 159,000 79,000 Factory Overhead 157,000 Finished Goods Inventory 59,000 284,000 54,000 Beginning FG 289,000 Ending FG Multiple Choice O $158,500 0 $55,500. 0 $289,000 $284,000. $299,000
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