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 1 year ago
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