Question
In: Accounting
Presented below are incomplete 2018 manufacturing cost data for Rokarie Corporation. Direct Materials Used Direct Labor...
Presented below are incomplete 2018 manufacturing cost data for Rokarie Corporation.
|
Direct Materials Used |
Direct Labor |
Manufacturing Overhead |
Total Manufacturing Costs |
Work in Process (1/1) |
Work in Process (12/31) |
Cost of Goods Manufactured |
|
|
(a) |
$38,000 |
$72,000 |
$48,000 |
? |
$120,000 |
$96,000 |
? |
|
(b) |
$149,000 |
$53,000 |
$90,000 |
$292,000 |
? |
$98,000 |
$331,000 |
|
(c) |
$53,000 |
$116,000 |
$121,000 |
$290,000 |
$463,000 |
? |
$515,000 |
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Morton Company has two divisions. Sales, direct materials cost, direct labor cost, and manufacturing overhead data...
Morton Company has two divisions. Sales, direct materials cost,
direct labor cost, and manufacturing overhead data for Morton’s two
divisions are available below. Note: All of Morton Company’s
products are sold in competitive markets.
Missile
Salt
Products Products
Sales
$1,500,000
$1,000,000
Direct
labor
(800,000)
(300,000)
Direct
materials
(100,000)
(40,000)
Manufacturing
overhead*
(400,000)
(150,000)
Gross
profit
$200,000
$510,000
*Manufacturing overhead is allocated to production based on the
amount of direct labor cost.
Morton has determined
that its total...
Morton Company has two divisions. Sales, direct materials cost, direct labor cost, and manufacturing overhead data...
Morton Company has two divisions. Sales, direct materials cost,
direct labor cost, and manufacturing overhead data for Morton’s two
divisions are available below. Note: All of Morton Company’s
products are sold in competitive markets.
Missile Salt
Products Products
Sales $1,500,000 $1,000,000
Direct labor (800,000) (300,000)
Direct materials (100,000) (40,000)
Manufacturing overhead* (400,000) (150,000)
Gross profit $200,000 $510,000
*Manufacturing overhead is allocated to production based on the
amount of direct labor cost. Morton has determined that its total
manufacturing overhead cost...
An incomplete cost of goods manufactured schedule is presented below for Cepeda Manufacturing Company for the...
An incomplete cost of goods manufactured schedule is presented
below for Cepeda Manufacturing Company for the year ended December
2020:
Complete the cost of goods manufactured schedule for Cepeda
Manufacturing Company.
CEPEDA MANUFACTURING COMPANY
Cost of Goods Manufactured Schedule
For the Year Ended December 31, 2020
Work in process (1/1)
$210,000
Direct materials
Raw materials
inventory, (1/1)
$
Raw materials
purchases
167,000
Total raw materials
available for use
Less: Raw materials
inventory (12/31)
18,000
Direct materials used
$189,000
Direct labour...
An incomplete cost of goods manufactured schedule is presented below for Cepeda Manufacturing Company for the...
An incomplete cost of goods manufactured schedule is presented
below for Cepeda Manufacturing Company for the year ended December
2020:
Complete the cost of goods manufactured schedule for Cepeda
Manufacturing Company.
CEPEDA MANUFACTURING COMPANY
Cost of Goods Manufactured Schedule
For the Year Ended December 31, 2020
Work in process (1/1)
$215,500
Direct materials
Raw materials
inventory, (1/1)
$
Raw materials
purchases
166,000
Total raw materials
available for use
Less: Raw materials
inventory (12/31)
18,200
Direct materials used
$190,000
Direct labour...
Case Prime Cost Conversion Cost Direct Materials Direct Labor Manufacturing Overhead Total Manufacturing Cost A 9,480...
Case
Prime Cost
Conversion Cost
Direct Materials
Direct Labor
Manufacturing Overhead
Total Manufacturing Cost
A
9,480
16,460
4,040
11,020
B
10,010
7,330
25,200
42,540
C
55,700
110,300
42,300
D
48,150
19,900
11,750
68,050
E
14,000
24,300
56,200
For each of the following independent cases (A–E),
compute the missing values in the table:
9-Morton Company has two divisions. Sales, direct materials cost, direct labor cost, and manufacturing overhead data...
9-Morton Company has two divisions. Sales, direct materials
cost, direct labor cost, and manufacturing overhead data for
Morton’s two divisions are available below. Note: All of Morton
Company’s products are sold in competitive markets.
Missile Salt
Products Products
Sales
$1,500,000
$1,000,000
Direct
labor
(300,000)
(800,000)
Direct
materials
(100,000)
(40,000)
Manufacturing
overhead*
(150,000)
(400,000)
Gross
profit
$950,000
($240,000)
*Manufacturing overhead is allocated to production based on the
amount of direct labor cost.
Morton has determined
that its total manufacturing overhead...
9-Morton Company has two divisions. Sales, direct materials cost, direct labor cost, and manufacturing overhead data...
9-Morton Company has two divisions. Sales, direct materials
cost, direct labor cost, and manufacturing overhead data for
Morton’s two divisions are available below. Note: All of Morton
Company’s products are sold in competitive markets.
Missile Salt
Products Products
Sales
$1,500,000
$1,000,000
Direct
labor
(300,000)
(800,000)
Direct
materials
(100,000)
(40,000)
Manufacturing
overhead*
(150,000)
(400,000)
Gross
profit
$950,000
($240,000)
*Manufacturing overhead is allocated to production based on the
amount of direct labor cost.
Morton has determined
that its total manufacturing overhead...
Compute the cost and efficiency variances for direct materials and direct labor. 2. For manufacturing overhead,...
Compute the cost and efficiency variances for direct materials
and direct labor.
2.
For manufacturing overhead, compute the variable overhead cost
and efficiency variances and the fixed overhead cost and volume
variances.
3.
HeadsetHeadset's
management used better quality materials during September.
Discuss the trade-off between the two direct material
variances.
Standard Cost Information
Quantity
Cost
Direct Materials
2
parts
$0.15
per part
Direct Labor
0.02
hours
9.00
per hour
Variable Manufacturing Overhead
0.02
hours
11.00
per hour
Fixed Manufacturing Overhead...
The Brown Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor....
The Brown Manufacturing Company's costing system has two
direct-cost categories: direct materials and direct manufacturing
labor. Manufacturing overhead (both variable and fixed) is
allocated to products on the basis of standard direct manufacturing
labor hours (DLH). At the beginning of
2014 Brown adopted the following standards for its
manufacturing costs:
Direct materials
3 lbs. at $4 per lb.
$12.00
Direct manufacturing labor
4 hrs. at $20 per hr.
80.00
Manufacturing overhead:
Variable
$6 per DLH
24.00
Fixed
$7 per DLH...
The Brown Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor....
The Brown Manufacturing Company's costing system has two
direct-cost categories: direct materials and direct manufacturing
labor. Manufacturing overhead (both variable and fixed) is
allocated to products on the basis of standard direct manufacturing
labor hours (DLH). At the beginning of
2014 Brown adopted the following standards for its
manufacturing costs:
Direct materials
3 lbs. at $4 per lb.
$12.00
Direct manufacturing labor
4 hrs. at $20 per hr.
80.00
Manufacturing overhead:
Variable
$6 per DLH
24.00
Fixed
$7 per DLH...
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