Question
In: Accounting
The company produces a single product: Production Volume 6000 Units 7000 Units Direct Materials 195000 227500...
| The company produces a single product: | ||||
| Production Volume | 6000 Units | 7000 Units | ||
| Direct Materials | 195000 | 227500 | ||
| Direct Labor | 113400 | 13230 | ||
| Manufacturing Overhead | 913200 | 931700 | ||
| The best estimate of the total cost to manufacture 6,300 units is? | ||||
Solutions
ekkarill92 answered 3 years agoRelated Solutions
Moleno Company produces a single product and uses a standard cost system. The normal production volume...
Moleno Company produces a single product and uses a standard
cost system. The normal production volume is 120,000 units; each
unit requires five direct labor hours at standard. Overhead is
applied on the basis of direct labor hours. The budgeted overhead
for the coming year is as follows:
FOH
$2,160,000*
VOH
1,440,000
* At normal volume.
During the year, Moleno produced 118,600 units, worked 592,300
direct labor hours, and incurred actual fixed overhead costs of
$2,150,400 and actual variable overhead...
Rippey Corporation manufactures a single product with the following unit costs for 5,000 units: Direct materials...
Rippey Corporation manufactures a single product with the
following unit costs for 5,000 units:
Direct materials
$ 60
Direct labor
30
Factory overhead (40% variable)
90
Selling expenses (60% variable)
30
Administrative expenses (20% variable)
15
Total per unit
$225
Recently, a company approached Rippey Corporation about buying
1,000 units for $225. Currently, the models are sold to dealers for
$412.50. Rippey's capacity is sufficient to produce the extra 1,000
units. No additional selling expenses would be incurred on...
Lorraine manufactures a single product with the following full unit costs for 3,000 units: Direct materials...
Lorraine manufactures a single product with the following full
unit costs for 3,000 units: Direct materials $80 Direct labor 40
Manufacturing overhead (40% variable) 120 Selling expenses (60%
variable) 40 Administrative expenses (10% variable) 20 Total per
unit $300 A company recently approached Lorraine with a special
order to purchase 500 units for $300. Lorraine currently sells the
models to dealers for $550. Capacity is sufficient to produce the
extra 1,000 units. No selling expenses would be incurred on the...
Fast Co. produces its product through a single processing department. Direct materials are added at the...
Fast Co. produces its product through a single processing
department. Direct materials are added at the start of production,
and conversion costs are added evenly throughout the process. The
company uses monthly reporting periods for its weighted-average
process costing system. The Work in Process Inventory account has a
balance of $92,300 as of October 1, which consists of $19,500 of
direct materials and $72,800 of conversion costs.
During the month the company incurred the following
costs:
Direct materials
$171,600
Conversion...
Fast Co. produces its product through a single processing department. Direct materials are added at the...
Fast Co. produces its product through a single processing
department. Direct materials are added at the start of production,
and conversion costs are added evenly throughout the process. The
company uses monthly reporting periods for its weighted-average
process costing system. The Work in Process Inventory account has a
balance of $98,300 as of October 1, which consists of $21,300 of
direct materials and $77,000 of conversion costs.
During the month the company incurred the following
costs:
Direct
materials
$
160,150...
Fast Co. produces its product through a single processing department. Direct materials are added at the...
Fast Co. produces its product through a single processing
department. Direct materials are added at the start of production,
and conversion costs are added evenly throughout the process. The
company uses monthly reporting periods for its weighted-average
process costing system. The Work in Process Inventory account has a
balance of $100,300 as of October 1, which consists of $21,900 of
direct materials and $78,400 of conversion costs.
During the month the company incurred the following
costs:
Direct
materials
$
181,800...
Fast Co. produces its product through a single processing department. Direct materials are added at the...
Fast Co. produces its product through a single processing
department. Direct materials are added at the start of production,
and conversion costs are added evenly throughout the process. The
company uses monthly reporting periods for its weighted-average
process costing system. The Work in Process Inventory account has a
balance of $90,300 as of October 1, which consists of $18,900 of
direct materials and $71,400 of conversion costs.
During the month the company incurred the following
costs:
Direct
materials
$
151,150...
Easton Co. produces its product through a single processing department. Direct materials are added at the...
Easton Co. produces its product through a single processing
department. Direct materials are added at the start of production,
and direct labor and overhead are added evenly throughout the
process. The company uses monthly reporting periods for its
weighted-average process cost accounting system. Its Goods in
Process Inventory account follows after entries for direct
materials, direct labor, and overhead costs for October.
Goods in
Process Inventory
Acct.
No.133
Date
Explanation
Debit
Credit
Balance
Oct. 1
Balance
181,440
31...
The Timbrick Company produces and sells a single product. The production of this product requires 15...
The Timbrick Company produces and sells a single product. The
production of this product requires 15 liters of direct material
for each unit produced. Timbrick has an inventory policy which sets
a target ending inventory of finished goods equal to 15% of next
months expected unit sales. The target ending inventory for direct
materials is 30% of the materials needed for production for next
month. The budgeted cost of direct materials is $0.40 per liter.
Normally, Timbrick pays the suppliers...
Al Rawabi Company produces a single product with the following information available: No of units produces...
Al Rawabi Company produces a single product with the following
information available: No of units produces annually 30,000
Variable cost per unit a) Direct Material, Labor and variable
overheard 15 b) Selling & Administrative Expense 5 Fixed Cost
per year Manufacturing Overhead 160,000 Selling &
Administrative Expense 110,000 a) Calculate unit product cost b)
Prepare income statement using both variable and absorption
costing? Additional Information 25,000 unit are sold @ 50 each,
There is no beginning inventory.
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