Question
In: Accounting
Big Dave’s Bowling Ball Factory has the following financial information: Month Units Produced Manufacturing Costs (in$)...
Big Dave’s Bowling Ball Factory has the following financial information:
Month Units Produced Manufacturing Costs (in$)
July 648 1,748
August 653 1,770
September 652 1,758
October 650 1,755
November 700 1,800
December 660 1,780
January 550 1,500
February 600 1,600
March 647 1,750
April 653 1,760
May 652 1,740
June 655 1,769
Total 7,720 20,730
There were no beginning or ending inventories. The selling cost is $3/unit.
Required:
A. Using the High-Low method Calculate the total cost formula in the form “Y = aX+b”
B. What are the total estimated manufacturing costs if production is forecasted at 580 units?
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Question # 1 (5 marks) Big Dave’s Bowling Ball Factory has the following financial information: Month...
Question # 1
Big Dave’s Bowling Ball Factory has the following financial
information:
Month
Units Produced
Manufacturing Costs (in$)
July
648
1,748
August
653
1,770
September
652
1,758
October
650
1,755
November
700
1,800
December
660
1,780
January
550
1,500
February
600
1,600
March
647
1,750
April
653
1,760
May
652
1,740
June
655
1,769
Total
7,720
20,730
There were no beginning or ending inventories. The selling cost
is $3/unit.
Required:
Using the High-Low method Calculate the total cost formula...
Birmingham Bowling Ball Company (BBBC) uses a job-order costing system to accumulate manufacturing costs. The company’s...
Birmingham Bowling Ball Company (BBBC) uses a job-order costing
system to accumulate manufacturing costs. The company’s
work-in-process on December 31, 20x3, consisted of one job (no.
3088), which was carried on the year-end balance sheet at $156,800.
There was no finished-goods inventory on this date.
BBBC applies manufacturing
overhead to production on the basis of direct-labor cost. (The
budgeted direct-labor cost is the company’s practical capacity, in
terms of direct-labor hours, multiplied by the budgeted
direct-labor rate.) Budgeted totals for...
During the month of March, Special Corporation incurred the following manufacturing costs. Depreciation of factory building...
During the month of March, Special Corporation incurred the
following manufacturing costs. Depreciation of factory building
$1250. Employer fringe benefits payable $4,950. Factory wages
payable $48,200. Factory building insurance payable $1725. Raw
,aterials on account $20,000. Raw materials purchased for cash
$21,600. Utilities for factory not yet paid $4000. Depreciation of
factory equipment $2400. Insurance for factory used up $3300.
there should be 3 sets of journals, journalize in order thank
you
Wyckam Manufacturing Inc. has provided the following information concerning its manufacturing costs: Fixed Cost per Month...
Wyckam Manufacturing Inc. has provided the following information
concerning its manufacturing costs:
Fixed Cost
per Month
Cost per
Machine-Hour
Direct materials
$
5.50
Direct labor
$
42,900
Supplies
$
0.40
Utilities
$
2,000
$
0.25
Depreciation
$
14,900
Insurance
$
11,900
For example, utilities should be $2,000 per month plus $0.25 per
machine-hour. The company expects to work 4,200 machine-hours in
June. Note that the company’s direct labor is a fixed cost.
Required:
Prepare the company’s planning budget for June....
Wyckam Manufacturing Inc. has provided the following information concerning its manufacturing costs: Fixed Cost per Month...
Wyckam Manufacturing Inc. has provided the following information
concerning its manufacturing costs:
Fixed Cost
per Month
Cost per
Machine-Hour
Direct materials
$
5.50
Direct labor
$
42,000
Supplies
$
0.10
Utilities
$
1,400
$
0.25
Depreciation
$
15,400
Insurance
$
11,300
For example, utilities should be $1,400 per month plus $0.25 per
machine-hour. The company expects to work 4,400 machine-hours in
June. Note that the company’s direct labor is a fixed cost.
Required:
Prepare the company’s planning budget for June....
Frazier Manufacturing Company collected the following production data for the past month: Units Produced Total Cost...
Frazier Manufacturing Company collected the following production
data for the past month: Units Produced Total Cost 1,600 $66,000
1,300 57,000 1,500 67,500 1,100 49,500 If the high-low method is
used, what is the monthly total cost equation? A. Total cost = $0 +
$45/unit B. Total cost = $13,200 + $33/unit C. Total cost = $16,500
+ $30/unit D. Total cost = $9,900 + $36/unit
I know the answer is $13,200+33/unit. But I do not see how the
math is...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month:
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials $ 82,000Direct labor $ 41,500Variable manufacturing overhead$ 20,200 Fixed manufacturing overhead31,900 Total manufacturing overhead $ 52,100Variable selling expense$ 14,600 Fixed selling expense23,200 Total selling expense $ 37,800Variable administrative expense$ 5,300 Fixed administrative expense27,600 Total administrative expense $ 32,900 Required:1. With respect to cost classifications for preparing financial statements:a. What is the total product cost?b. What...
Use the following information for questions # of units produced 6,600 Variable Costs per Unit: Direct...
Use the following information for questions
# of units produced
6,600
Variable Costs per Unit:
Direct Materials
$46
Direct Labor
$16
Variable Manufacturing Overhead
$8
Variable Selling & Admin. Expense
$4
Fixed Costs per year:
Fixed Manufacturing Overhead
$234,300
Fixed Selling & Admin
$161,700
The Absorption Costing Unit Product Cost is:
Group of answer choices
$100.20
$105.50
$74
$70
The Variable Costing Unit Product Cost is:
Group of answer choices
$70
$74
$105.50
$100.20
If 6,000 units are sold during...
Patel and Sons Inc. uses a standard cost system to apply factory overhead costs to units produced.
Patel and Sons Inc. uses a standard cost system to apply factory overhead costs to units produced. Practical capacity for the plant is defined as 50,000 machine hours per year, which represents 25,000 units of output. Annual budgeted fixed factory overhead costs are $250,000 and the budgeted variable factory overhead cost rate is $4 per unit. Factory overhead costs are applied on the basis of standard machine hours allowed for units produced. Budgeted and actual output for the year...
Use the following information for questions 1-5: # of units produced 6,600 Variable Costs per Unit:...
Use the following information for questions
1-5:
# of units produced
6,600
Variable Costs per Unit:
Direct Materials
$46
Direct Labor
$16
Variable Manufacturing Overhead
$8
Variable Selling & Admin. Expense
$4
Fixed Costs per year:
Fixed Manufacturing Overhead
$234,300
Fixed Selling & Admin
$161,700
The Absorption Costing Unit Product Cost is:
$100.20
$105.50
$74
$70
The Variable Costing Unit Product Cost is:
$70
$74
$105.50
$100.20
If 6,000 units are sold during the period, total period cost
under variable...
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