Question
In: Accounting
23. Chastain company assigned $115,000 of direct labor and $25,000 of indirect labor to production. the...
23. Chastain company assigned $115,000 of direct labor and $25,000 of indirect labor to production. the journal entry to record this transaction is??
42.
Robot Toy Company manufactures two products, Techman and Mechman. Robot's estimated overhead costs for next year are
Machine set up cost pool: $200,000
Machining cost pool: $450,000
Inspecting cost pool: $150,000
Estimated use of cost drivers for next year are
inspections
Total: 1500 inspections
Techman: 800 inspections
Mechman: 700 inspections
what is the activity based overhead rate for inspections?
A. $214 per inspection
B. $188 per inspection
C. $100 per inspection
D. $50 per inspection
43. which element of throughput time adds value to the product?
A. waiting time
B. moving time
C. Processing time
D. inspection time
44. Which of the following is not a product level activity?/
A. product design
B. product engineering changes
C. property taxes
Solutions
Expert Solution
Question 23
Journal entry is provided below
| Accounts title and explanation | Debit | Credit |
| Work in process inventory | $ 115,000.00 | |
| Manufacturing overhead | $ 25,000.00 | |
| Factory payroll/Wages payable | $ 140,000.00 | |
| (To record direct and indirect wages) |
Question 42
Correct answer---------C. $100 per inspection
Working
| Calculation of Activity rates | |||||
| Activity Cost Pool | Activity driver | Overhead Cost (A) | Expected Activity (B) | Activity rate (A/B) | |
| Inspection | Number of Inspection | $ 150,000.00 | 1500 | $ 100.00 | Per Inspection |
Question 43
Correct answer---------C. Processing time.
Moving time,Inspection and waiting time are all non value added activities only processing time of product is value added.
Question 44
Correct answer---------C. property taxes
.
Property taxes is a factory level or facility level cost if taxes are for factory building.
ekkarill92 answered 2 years agoRelated Solutions
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Group of answer choices
True
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Question 22 pts
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Group of answer choices
True
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Question 32 pts
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Group of answer choices
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Question 42 pts
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