Homework Answers
25.
The total fixed manufacturing overhead always remains the same. Average manufacturing overhead cost per unit varies from one period to another period due to change in the number of units produced.
Fixed manufacturing overhead remains the same in total when production levels vary.
3rd option
26.
When the applied overhead is more than the actual overhead incurred there will be over applied overheads.
The amount of overhead applied to a job was higher than the actual overhead incurred.
2nd option
27.
Determining the best supplier of Raw Material is not a reason for assigning costs to the products or services.
To determine the best supplier of raw materials
2nd option
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5 pts U Question 25 Average manufacturing overhead cost per unit usually varies from one period...
Question 23 5 pts In job order costing, the predetermined overhead rate multiplied by a job's...
Question 23 5 pts In job order costing, the predetermined overhead rate multiplied by a job's actual usage of the allocation base equals: the total estimated overhead for the period the amount of manufacturing overhead applied to the job's cost the total cost of the job O actual manufacturing overhead Question 24 5 pts Which of the following is(are) typical cost drivers that would be used as an allocation base? Choose the best answer sales persons commissions O machine hours...
Average Cost per Unit $7.00 4.00 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead...
Average Cost per Unit $7.00 4.00 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense 1.56e s 5.e0 $3.50 $ 2.5e $1.0e 6.50 Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 20,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 20,000 units? 3. For financial accounting purposes, what is the...
Average Cost per Unit Direct materials $ 6.80 Direct labor $ 3.50 Variable manufacturing overhead $...
Average Cost per Unit Direct materials $ 6.80 Direct labor $ 3.50 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 4.00 Fixed selling expense $ 0.75 Fixed administrative expense $ 0.60 Sales commissions $ 0.50 Variable administrative expense $ 0.50 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 4,000 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 4,000 units? c. If...
11) A variable cost is a cost that a. varies per unit at every level of...
11) A variable cost is a cost that a. varies per unit at every level of activity. b. occurs at various times during the year. c. varies in total in proportion to changes in the level of activity. d. may or may not be incurred, depending on management's discretion. 12) A cost which remains constant per unit at various levels of activity is a a. variable cost. b. fixed cost. c. mixed cost. d. manufacturing cost. 13) Fixed costs normally...
Question 21 5 pts In a job order costing system manufacturing overhead is applied to jobs...
Question 21 5 pts In a job order costing system manufacturing overhead is applied to jobs using actual and not estimated costs. True O False Question 22 5 pts Which of the following statements about using a plantwide overhead rate based on direct laboris correct? Using a plantwide overhead rate based on direct labor costs will ensure that direct labor costs will be correctly traced to jobs. The labor theory of value ensures that using a plantwide overhead rate based...
8) If 12,500 units are produced, what is the average fixed manufacturing cost per unit produced?...
8) If 12,500 units are produced, what is the average fixed
manufacturing cost per unit produced?
9) If 8,000 units are produced, what is the
total amount of fixed manufacturing cost incurred to support this
level of production?
10) If 12,500 units are produced, what is the total
amount of fixed manufacturing cost incurred to support this level
of production?
11) If 8,000 units are produced, what is the total
amount of manufacturing overhead cost incurred to support this
level of production? What...
The following information was taken from the annual manufacturing overhead cost budget of Waterway Industries. Variable...
The following information was taken from the annual manufacturing overhead cost budget of Waterway Industries. Variable manufacturing overhead costs $52800 Fixed manufacturing overhead costs $26400 Normal production level in labor hours 22000 Normal production level in units 5500 Standard labor hours per unit 4 During the year, 5325 units were produced, 17240 hours were worked, and the actual manufacturing overhead was $78600. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturing overhead costs. Overhead is applied on the basis of...
The following information was taken from the annual manufacturing overhead cost budget of Sunland Company Variable...
The following information was taken from the annual manufacturing overhead cost budget of Sunland Company Variable manufacturing overhead costs $46600 Fixed manufacturing overhead costs $27960 Normal production level in labor hours 23300 Normal production level in units Standard labor hours per unit 5825 4 During the year, 5650 units were produced, 18540 hours were worked, and the actual manufacturing overhead was $75600. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturing overhead costs. Overhead is applied on the basis of...
5 pts Question 1 Norred Corporation has provided the following information: Cost per Unit Cost per...
5 pts Question 1 Norred Corporation has provided the following information: Cost per Unit Cost per Period $ Direct materials 7.50 Direct labor $ 3.70 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 121,500 Sales commissions $ 1.50 Variable administrative expense $ 0.45 Fixed selling and administrative expense $ 44,500 If 8,000 units are produced the total amount of indirect manufacturing cost incurred is closest to: O $12.800 O $134.300 $135.900 O $121,500 Question 2 5
Average Cost per Unit Direct Materials $12 Direct Labor Indirect Materials Fixed manufacturing overhead Variable manufacturing...
Average Cost per Unit Direct Materials $12 Direct Labor Indirect Materials Fixed manufacturing overhead Variable manufacturing overhead Fixed selling and administrative expenses Variable sales commissions E. IF 19,000 units are produced, what are the total manufacturing overhead costs incurred? Total manufacturing overhead costs $ F. If 24,000 units are produced, what are the total manufacturing overhead costs incurred? Total manufacturing overhead costs $ G. If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If required,...
Question 23 5 pts In job order costing, the predetermined overhead rate multiplied by a job's actual usage of the allocation base equals: the total estimated overhead for the period the amount of manufacturing overhead applied to the job's cost the total cost of the job O actual manufacturing overhead Question 24 5 pts Which of the following is(are) typical cost drivers that would be used as an allocation base? Choose the best answer sales persons commissions O machine hours...
Average Cost per Unit $7.00 4.00 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense 1.56e s 5.e0 $3.50 $ 2.5e $1.0e 6.50 Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 20,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 20,000 units? 3. For financial accounting purposes, what is the...
11) A variable cost is a cost that a. varies per unit at every level of activity. b. occurs at various times during the year. c. varies in total in proportion to changes in the level of activity. d. may or may not be incurred, depending on management's discretion. 12) A cost which remains constant per unit at various levels of activity is a a. variable cost. b. fixed cost. c. mixed cost. d. manufacturing cost. 13) Fixed costs normally...
Question 21 5 pts In a job order costing system manufacturing overhead is applied to jobs using actual and not estimated costs. True O False Question 22 5 pts Which of the following statements about using a plantwide overhead rate based on direct laboris correct? Using a plantwide overhead rate based on direct labor costs will ensure that direct labor costs will be correctly traced to jobs. The labor theory of value ensures that using a plantwide overhead rate based...
8) If 12,500 units are produced, what is the average fixed
manufacturing cost per unit produced?
9) If 8,000 units are produced, what is the
total amount of fixed manufacturing cost incurred to support this
level of production?
10) If 12,500 units are produced, what is the total
amount of fixed manufacturing cost incurred to support this level
of production?
11) If 8,000 units are produced, what is the total
amount of manufacturing overhead cost incurred to support this
level of production? What...
The following information was taken from the annual manufacturing overhead cost budget of Sunland Company Variable manufacturing overhead costs $46600 Fixed manufacturing overhead costs $27960 Normal production level in labor hours 23300 Normal production level in units Standard labor hours per unit 5825 4 During the year, 5650 units were produced, 18540 hours were worked, and the actual manufacturing overhead was $75600. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturing overhead costs. Overhead is applied on the basis of...
5 pts Question 1 Norred Corporation has provided the following information: Cost per Unit Cost per Period $ Direct materials 7.50 Direct labor $ 3.70 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 121,500 Sales commissions $ 1.50 Variable administrative expense $ 0.45 Fixed selling and administrative expense $ 44,500 If 8,000 units are produced the total amount of indirect manufacturing cost incurred is closest to: O $12.800 O $134.300 $135.900 O $121,500 Question 2 5
Average Cost per Unit Direct Materials $12 Direct Labor Indirect Materials Fixed manufacturing overhead Variable manufacturing overhead Fixed selling and administrative expenses Variable sales commissions E. IF 19,000 units are produced, what are the total manufacturing overhead costs incurred? Total manufacturing overhead costs $ F. If 24,000 units are produced, what are the total manufacturing overhead costs incurred? Total manufacturing overhead costs $ G. If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If required,...
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