Fairfield company applies manufacturing overhead to products at a predetermined rate of $60 per direct labor hour. Its actual manufacturing costs for the most recent period are summarized here: Item Description Total Cost Direct materials Used on Jobs 101 and 102 95,000 Indirect materials Used on multiple jobs 35,000 Hourly labor wages 750 hours @ $40 per hour 200 hours...
Fairfield company applies manufacturing overhead to products at a predetermined rate of $55 per direct labor hour. Its actual manufacturing costs for the most recent period are summarized here: Item Description Total Cost Direct materials Used on Jobs 101 and 102 $ 92,500 Indirect materials Used on multiple jobs 32,500 Hourly labor wages 750 hours @ $35 per hour 200...
Fairfield company applies manufacturing overhead to products at a predetermined rate of $49 per direct labor hour. Its actual manufacturing costs for the most recent period are summarized here: Total Cost 89,500 29,500 Item Description Direct materials Used on Jobs 101 and 102 Indirect materials Used on multiple jobs Hourly labor wages 750 hours @ $29 per hour 200 hours...
Stefani Company has gathered the following information about its product. Direct materials: Each unit of product contains 3.20 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.10 pounds. Materials cost $1 per pound, but Stefani always takes the 1.00% cash discount all of its suppliers offer. Freight costs average $0.40 per pound. Direct...
Stefani Company has gathered the following information about its product. Direct materials: Each unit of product contains 3.20 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.10 pounds. Materials cost $1 per pound, but Stefani always takes the 1.00% cash discount all of its suppliers offer. Freight costs average $0.40 per pound. Direct...
Stefani Company has gathered the following information about its product. Direct materials: Each unit of product contains 3.00 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 1.00 pounds. Materials cost $4 per pound, but Stefani always takes the 2.00% cash discount all of its suppliers offer. Freight costs average $0.25 per pound. Direct...
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $5.00 per Ib.) Direct labor (1.8 hrs. @ $11.00 per hr.) Overhead (1.8 hrs. @ $18.50 per hr.) Total standard cost $20.00 19.80 33.30 $ 73.10 The predetermined overhead rate ($18.50...
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $6.00 per Ib.) Direct labor (1.9 hrs. @ $13.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $24.00 24.70 35.15 $83.85 The predetermined overhead rate ($18.50 per...
Antuan Company set the following standard costs for one unit of its product. Direct materials (4. Ibs. @ $4.00 per Ib.) Direct labor (1.8 hrs. @ $12.88 per hr.) Overhead (1.8 hrs. @ $18.50 per hr.) Total standard cost $16.00 21.60 33.30 $70.90 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75%...
Exercise 11-3 (Video) Stefani Company has gathered the following information about its product Direct materials: Each unit of product contains 3.90 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 1.10 pounds. Materials cost $2 per pound, but Stefani always takes the 1.00 % cash discount all of its suppliers offer. Freight costs average...