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CH 2 KB. If Union Manufacturing estimated manufacturing overhead to be $15,000 and the actual manufacturing...
CH 2 KB. If Union Manufacturing estimated manufacturing overhead to be $15,000 and the actual manufacturing overhead is $20,000, then the difference in manufacturing overhead is immaterial manufacturing overhead was under applied manufacturing overhead was over applied manufacturing overhead is a fixed cost
Manufacturing and Service Firms In general, firms can be divided into manufacturing and service firms. Manufacturing...
Manufacturing and Service Firms In general, firms can be divided into manufacturing and service firms. Manufacturing firms make a tangible product. They need to determine product costs for both inventory valuation and the calculation of cost of goods sold. The cost of inventory appears on the , and the cost of goods sold appears on the . (Wholesale or retail firms purchase a product that is already manufactured. The cost of such products, which are tangible, are carried at that...
Determine the manufacturing cycle efficiency (MCE) for the recent month. Waymouth Manufacturing operates a contract manufacturing...
Determine the manufacturing cycle efficiency (MCE) for
the recent month.
Waymouth Manufacturing operates a contract manufacturing plant located in Dublin, Ireland. The plant provides a variety of electronics products and components to consumer goods manufacturers around the world. Cycle time is a critical success factor for Waymouth, which has developed a number of measures of manufacturing speed. Waymouth has studied the matter and found that competitive contract manufacturers have manufacturing cycle times (MCE) of about 37%. When last calculated, Waymouth's...
Two different manufacturing plants, BP Manufacturing and AD Manufacturing, reported the same profit of $50,000 for...
Two different manufacturing plants, BP Manufacturing and AD Manufacturing, reported the same profit of $50,000 for the month of June. Both companies reported sales of $200,000 (20,000 units of sales) and total costs of $150,000 for the month. However, the companies makeup of total costs are different. BP's total costs include $100,000 of variable costs and $50,000 of fixed costs. AD's total costs include $40,000 of variable costs and $110,000 of fixed costs. If sales for both companies double, which...
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120%...
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was $525,000 and that at year-end Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $75,000, $50,000, and $375,000, respectively, of direct labor incurred during the current year a. Determine the over-applied manufacturing overhead at year-end...
Additive Manufacturing: 1. Explain the difference between subtractive manufacturing and additive manufacturing processes, and include one...
Additive Manufacturing: 1. Explain the difference between subtractive manufacturing and additive manufacturing processes, and include one example in each case. 2. Identify one comparative advantage and one limitation of additive manufacturing. 3. Explain how selective laser sintering and 3D printing processes are different? 4. Describe fused deposition modeling briefly. 5. Identify the additive manufacturing process that utilizes an adhesive to join layers of powder to build a prototype. 6. What it is important to develop prototypes.
Hilltop Manufacturing uses a predetermined manufacturing overhead rate based on direct labor hours to allocate manufacturing...
Hilltop Manufacturing uses a predetermined manufacturing overhead rate based on direct labor hours to allocate manufacturing overhead to jobs. Selected data about the company's operations follows: Actual manufacturing overhead cost $500,900 Estimated manufacturing overhead cost $551,000 Estimated direct labor cost $175,200 Estimated direct labor hours 50,500 Actual direct labor hours 60,800 Estimated machine hours 40,300 Actual machine hours 35,800 By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.) A. $162,428...
Osborn Manufacturing
Osborn Manufacturing uses a predetermined overhead rate of $18.90 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $240,030 of total manufacturing overhead for an estimated activity level of 12,700 direct labor-hours.The company actually incurred $237,000 of manufacturing overhead and 12,200 direct labor-hours during the period. Required:1. Determine the amount of underapplied or overapplied manufacturing overhead for the period.2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the...
Cost of Manufacturing
The following is Whitman Itée's partial trial balance as of December 31, 2021:Advertising 30,000Direct labour 192,000Administrative expenses125,520Indirect labour 70,000Raw materials used 128,000Finished goods inventory - January 1, 2021 14,000Plant maintenance 12,200Tooling repairs 8,800Vendor Commissions 15,000Property Taxes - Plant 11,800Plant Supplies 14,800Insurance - Plant 12,400You are also provided with the following information:1.Manufacturing records indicate that 30,000 units were manufactured during the year.Work to be done1. Present the company's manufacturing cost statement for the year 2021 using the full cost method. 2. Calculate...
Manufacturing Operation
Cost Terms, Concepts and ClassificationsExercise 2 For each of the following costs incurred in a manufacturing operation, indicate whether the costs would be fixed or variable (F or V) and whether they would be period costs or product costs (P or R, respectively) under full-absorption costing.a. Transportation-in costs on materials purchased. b. Assembly-line worker's wages. c. Property taxes on work in process inventories. d. Salaries of top executives in the company. e. Overtime premium for assembly workers. f. Sales commissions. g. Sales personnel office rental. h. Production supervisory...
CH 2 KB. If Union Manufacturing estimated manufacturing overhead to be $15,000 and the actual manufacturing overhead is $20,000, then the difference in manufacturing overhead is immaterial manufacturing overhead was under applied manufacturing overhead was over applied manufacturing overhead is a fixed cost
Manufacturing and Service Firms In general, firms can be divided into manufacturing and service firms. Manufacturing firms make a tangible product. They need to determine product costs for both inventory valuation and the calculation of cost of goods sold. The cost of inventory appears on the , and the cost of goods sold appears on the . (Wholesale or retail firms purchase a product that is already manufactured. The cost of such products, which are tangible, are carried at that...
Determine the manufacturing cycle efficiency (MCE) for
the recent month.
Waymouth Manufacturing operates a contract manufacturing plant located in Dublin, Ireland. The plant provides a variety of electronics products and components to consumer goods manufacturers around the world. Cycle time is a critical success factor for Waymouth, which has developed a number of measures of manufacturing speed. Waymouth has studied the matter and found that competitive contract manufacturers have manufacturing cycle times (MCE) of about 37%. When last calculated, Waymouth's...
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was $525,000 and that at year-end Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $75,000, $50,000, and $375,000, respectively, of direct labor incurred during the current year a. Determine the over-applied manufacturing overhead at year-end...
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