Homework Answers
OPTION: Factory rent
EXPLANATION:
Machine usage has no bearing on the cost of factory rent.
Add Answer to:
Which of the following costs is least likely to be driven by machine usage? Select one: A. Depreciation on factory buil...
Which of the following would most likely be a facility level cost? A. Depreciation on factory...
Which of the following would most likely be a facility level cost? A. Depreciation on factory equipment B. Depreciation on factory building C. Depreciation of engineering equipment D. Depreciation of setup equipment
Which of the following is a fixed cost with respect to units produced in a factory?...
Which of the following is a fixed cost with respect to units produced in a factory? Select one: A. direct material costs O B. electricity expenses C. monthly rent payment for the building D. utilities cost of the building O
Question 2 Moresan Co. gathered the following information on power costs and factory machine usage for...
Question 2
Moresan Co. gathered the following information on power costs and
factory machine usage for the last six months:
Month
Power Cost
Factory Machine Hours
January
$24,400
13,900
February
30,400
17,600
March
29,000
16,800
April
22,340
13,200
May
19,900
11,600
June
16,900
8,600
Using the high-low method of analyzing costs, answer the following
questions.
What is the estimated variable portion of power costs per
factory machine hour? (Round answer to 2 decimal
places, e.g. 15.25.)
Variable power costs
$...
The company had the following costs during the fiscal year. Depreciation on Factory Equipment 7,000 Rent...
The company had the following costs during the fiscal year. Depreciation on Factory Equipment 7,000 Rent for Sales Office 35,000 Factory Insurance 1,300 Utilities for Factory 4,000 Depreciation on Office Computers 5,500 What is (are) the journal entry (entries) for recording the utility cost and the rent cost?
Question 2 Moresan Co. gathered the following information on power costs and factory machine usage for...
Question 2 Moresan Co. gathered the following information on power costs and factory machine usage for the last six months: Month January February March April May June Power Cost $24,400 30,400 29,000 22,340 19,900 16,900 Factory Machine Hours 13,900 17,600 16,800 13,200 11,600 8,600 Using the high-low method of analyzing costs, answer the following questions. (a) What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Variable power costs...
Which of the following is a product cost? Select one: A. delivery van depreciation B. depreciation...
Which of the following is a product cost? Select one: A. delivery van depreciation B. depreciation on office equipment C. CEO's salary D. factory supervisor's salary E. None of the above. Which of the following correctly describes the accounting for indirect labor costs? Select one: A. Indirect labor costs are expensed as incurred. B. Indirect labor costs are period costs and are expensed when the manufactured product is sold. C. Indirect labor costs are product costs and are expensed as...
Herbert Company gathered the following information on its mixed power costs and factory machine usage for...
Herbert Company gathered the following information on its mixed power costs and factory machine usage for the last four months: Month Power Costs Factory Machine Hours January $ 24,400 13,900 February $ 30,000 17,000 March $29,000 16,800 April $ 14,000 7,000 If it is estimated that 10,000 factory machine hours will be used in the month of May, what is the expected total power costs for May? $18,800 $15,875 O $18,586 None of the above
Exercise 171 Moresan Co. gathered the following Information on power costs and factory machine usage for...
Exercise 171 Moresan Co. gathered the following Information on power costs and factory machine usage for the last six months: Month January February March April May June Power Cost $24,400 30,400 29,000 22,340 19,900 16,900 Factory Machine Hours 13,900 17,600 16,800 13,200 11,600 8,600 Using the high-low method of analyzing costs, answer the following questions. What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Variable power costs per...
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of f...
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of factory equipment and machines c. depreciation of sales person's vehicle d. direct materials used ANSWER: b 35. Which of the following manufacturing costs is an indirect cost of producing a product? a. oil lubricants used for factory machinery b. commissions for sales personnel c. hourly wages of an assembly worker d. memory chips for a microcomputer manufacturer 36. All of the following could...
The company had the following costs during the fiscal year. Depreciation on Factory Equipment 7,000 Rent...
The company had the following costs during the fiscal year. Depreciation on Factory Equipment 7,000 Rent for Sales Office 47,000 Factory Insurance 1,300 Utilities for Factory 5,000 Depreciation on Office Computers 5,500 What is (are) the journal entry (entries) for recording the utility cost and the rent cost? Utility Expense 5,000 Utility Payable 5,000 Rent Expense 47,000 Rent Payable 47,000 Manufacturing Overhead 5,000 Utility Payable 5,000 Rent Expense 47,000 Rent Payable 47,000 Manufacturing Overhead 52,000 Utility Payable 5,000 Rent Payable...
Which of the following is a fixed cost with respect to units produced in a factory? Select one: A. direct material costs O B. electricity expenses C. monthly rent payment for the building D. utilities cost of the building O
Question 2
Moresan Co. gathered the following information on power costs and
factory machine usage for the last six months:
Month
Power Cost
Factory Machine Hours
January
$24,400
13,900
February
30,400
17,600
March
29,000
16,800
April
22,340
13,200
May
19,900
11,600
June
16,900
8,600
Using the high-low method of analyzing costs, answer the following
questions.
What is the estimated variable portion of power costs per
factory machine hour? (Round answer to 2 decimal
places, e.g. 15.25.)
Variable power costs
$...
Question 2 Moresan Co. gathered the following information on power costs and factory machine usage for the last six months: Month January February March April May June Power Cost $24,400 30,400 29,000 22,340 19,900 16,900 Factory Machine Hours 13,900 17,600 16,800 13,200 11,600 8,600 Using the high-low method of analyzing costs, answer the following questions. (a) What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Variable power costs...
Which of the following is a product cost? Select one: A. delivery van depreciation B. depreciation on office equipment C. CEO's salary D. factory supervisor's salary E. None of the above. Which of the following correctly describes the accounting for indirect labor costs? Select one: A. Indirect labor costs are expensed as incurred. B. Indirect labor costs are period costs and are expensed when the manufactured product is sold. C. Indirect labor costs are product costs and are expensed as...
Herbert Company gathered the following information on its mixed power costs and factory machine usage for the last four months: Month Power Costs Factory Machine Hours January $ 24,400 13,900 February $ 30,000 17,000 March $29,000 16,800 April $ 14,000 7,000 If it is estimated that 10,000 factory machine hours will be used in the month of May, what is the expected total power costs for May? $18,800 $15,875 O $18,586 None of the above
Exercise 171 Moresan Co. gathered the following Information on power costs and factory machine usage for the last six months: Month January February March April May June Power Cost $24,400 30,400 29,000 22,340 19,900 16,900 Factory Machine Hours 13,900 17,600 16,800 13,200 11,600 8,600 Using the high-low method of analyzing costs, answer the following questions. What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Variable power costs per...
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