Homework Answers
| Andrews Company | |
| Computation of Cost of Goods Sold | |
| For the Coming Year | |
| No. of Item Produced | 20000 |
| Beginning Inventory | 0 |
| Add: | |
| Direct material (ax $20) | $400,000 |
| Direct Labour (1.9 Hour$12X a) | $456,000 |
| Variable Overhead ( 1.9 HourX $1.20 X a) | $45,600 |
| Fixed Overhead (1.9 HourX $1.40X a) | $53,200 |
| Cost of Goods Available for sales | $954,800 |
| Less: Ending Inventory ( 954800/20000*610) | -$29,121 |
| Cost off Goods Sold | $925,679 |
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Preparing a Cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each chair takes $20 o...
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Preparing a Cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each chair takes $14 of direct materials and uses 1.9 direct labor hours at $16 per direct labor hour. The variable overhead rate is $1.20 per direct labor hour, and the fixed overhead rate is $1.60 per direct labor hour. Andrews expects to produce 20,000 chairs next year and expects to have 675 chairs in ending inventory. There is no beginning inventory of office chairs....
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Preparing a cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each charake 14 of dire...
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preparing a budget for the coming year and asks for your
assistance. The following costs and other data apply to bag
production:
You learn that equipment costs and building occupancy are fixed
and are based on a normal production of 630,000 units per year.
Other overhead costs are variable. Plant capacity is sufficient to
produce 810,000 units per year.
Labor costs per hour are not expected to change during the year.
However,...
Preparing a Cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each chair takes $14 of direct materials and uses 1.9 direct labor hours at $16 per direct labor hour. The variable overhead rate is $1.20 per direct labor hour, and the fixed overhead rate is $1.60 per direct labor hour. Andrews expects to produce 20,000 chairs next year and expects to have 675 chairs in ending inventory. There is no beginning inventory of office chairs....
Preparing a cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each chair takes $18 of direct materials and uses 1.9 direct labor hours at $18 per direct labor hour. The variable overhead rate is $1.20 per direct labor hour, and the fixed overhead rate is $1.80 per direct labor hour. Andrews Company expects to produce 20,000 chairs next year and expects to have 670 chairs in ending inventory. There is no beginning inventory of chairs....
Preparing an Ending Finished Goods Inventory Budget Andrews Company manufactures a line of office chairs. Each chair takes $14 of direct materials and uses 1.9 direct labor hours at $20 per direct labor hour. The variable overhead rate is $1.30 per direct labor hour, and the fixed overhead rate is $1.40 per direct labor hour. Andrews expects to have 640 chairs in ending inventory. There is no beginning inventory of office chairs. Required: 1. Calculate the unit product cost. Round...
Preparing a cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each charake 14 of direct materials and uses 19 hours 520 perc labor hour. The variable overhead rate is $1.20 per director hour, and the end over and most o per director hout Andrews Com expects to produce 20,000 chairs next year and expects to have 500 chairs in ending in there is no beginning inventory Required: Prepare a cost of goods sold budget for...
Preparing a cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each charake 14 of direct materials and uses 19 hours 520 perc labor hour. The variable overhead rate is $1.20 per director hour, and the end over and most o per director hout Andrews Com expects to produce 20,000 chairs next year and expects to have 500 chairs in ending in there is no beginning inventory Required: Prepare a cost of goods sold budget for...
Cost of Goods Sold Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: Direct materials $1.70 0.60 Direct labor Variable overhead 0.75 1.95 Fixed overhead Total unit cost $5.00 For the coming year, Play-Disc expects to make 400,000 plastic discs, and to sell 384,000 of them. Budgeted beginning inventory in units is 16,000 with unit cost of $5.00. (There are no beginning or ending Inventories of work in process.) Required: 1. Calculate the...
OBJ.4 EX 22-16 Cost of goods sold budget ✓ Cost of goods sold, Dover Chemical Company uses oil to produce two types of plastic products, P1 and P2. $2,954,700 Dover budgeted 30,000 barrels of oil for purchase in April for $78 per barrel. Direct labor budgeted in the chemical process was $240,000 for April. Factory overhead was budgeted $375,000 during April. The inventories on April 1 were estimated to be: Oil ........ P1........... P2.... Work in process ........... $15,800 9,800...
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EcoSacks manufactures cloth shopping bags. The controller is
preparing a budget for the coming year and asks for your
assistance. The following costs and other data apply to bag
production:
You learn that equipment costs and building occupancy are fixed
and are based on a normal production of 630,000 units per year.
Other overhead costs are variable. Plant capacity is sufficient to
produce 810,000 units per year.
Labor costs per hour are not expected to change during the year.
However,...
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