A company’s overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Saved Help Save & Exit Subr 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 58,000 Beginning WIP Direct Materials Direct...
Alaskan Fisheries, Inc., processes salmon for various distributors and it uses the weighted-average method in its process costing system. The company has two processing departments-Cleaning and Packing. Data relating to pounds of salmon processed in the Cleaning Department during July are presented below: Percent Completed Pounds of Labor and Work in process inventory, July 1 Work in process inventory, July...
Adelberg Company has two products: A and B. The annual production and sales of Product A is 2,550 units and of Product B is 1,950 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.5 direct labor-hours per unit and Product B requires 0.8 direct labor-hours per unit....
Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 7,400 units 19,000 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated...
Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 6,000 units 20,100 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated...
Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 8,900 units 21,600 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated...
Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 8,800 units 23,200 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department...
The number needed from Exhibit12-8 is .09 In the current year, Jill, age 35, received a job offer with two alternative compensation packages to choose from. The first package offers her $94,000 annual salary with no qualified fringe benefits and requires her to pay $5,500 a year for parking and to purchase life insurance at a cost of $3,000. The...
Forrest River Medical Supply Products Corp. Cost of Goods Manufactured Raw Material (January 1) 5 Purchases 6 Raw Material Available 7 Raw Material (January 31) 8 Raw Material Used 9 Direct Labor 10 Overhead: 11 Depr. Factory Equipment 12 Repairs/Maintenance-Factory 13 Indirect Labor 14 Insurance-Factory 15 Indirect Materials 16 Total Overhead 17 Total Manufacturing Costs 18 Work in Process (January...
XYZ Manufacturing, Inc. provided the following information for the year: Purchases—Raw Materials $90,000 Plant Utilities and Insurance 68,000 Indirect Materials 11,740 Indirect Labor 4,050 Direct Materials Used in Production 99,000 Direct Labor 117,000 Depreciation on Factory Plant & Equipment 5,000 The inventory account balances as of January 1 are given below. Raw Materials Inventory $44,000 Work-in-Progress Inventory 11,000 Finished Goods...