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In: Accounting
Sheridan Industries manufactures several products including a basic case for a popular smartphone. The company is...
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Solutions
ekkarill92 answered 3 years agoRelated Solutions
Bramble Industries manufactures several products including a basic case for a popular smartphone. The company is...
Bramble Industries manufactures several products including a
basic case for a popular smartphone. The company is considering
adopting an activity-based costing approach for setting its budget.
The company’s production activities, budgeted activity costs, and
cost drivers for the coming year are as follows.
Activity
Activity
Overhead $
Cost
Driver
Cost
Driver
Quantity
Machine setup
$ 231,140
# of setups
910
Inspection
120,870
# of quality tests
395
Materials receiving
299,700
# of purchase orders
2,025
The budgeted data for smartphone...
Lavender Company produces several products in its factory, including a karate robe. The company uses a...
Lavender Company produces several products in its factory,
including a karate robe. The company uses a standard cost system.
According to the standards that have been set for the robes, the
factory should work 780 direct labor hours eac month and produce
1,950 robes. Certain standard costs associated with this level of
production are as follows: Direct labor $7,020 $3.60 Variable
manufacturing overhead (based on DLH) $2,340 $1.20 During April,
the factory worked 760 direct labor hours and produced 2,000...
Stephaney Company produces several products in its factory, including a karate robe. The company uses a...
Stephaney Company produces several products in its factory,
including a karate robe. The company uses a standard cost system to
assist in the control of costs. According to the standards that
have been set for the robes, the factory should work 780 direct
labor-hours each month and produce 2,600 robes. The standard costs
associated with this level of production are as follows:
Total
Per Unit
of Product
Direct materials
$
66,300
$ 25.50
Direct labor
$
10,920 ...
Chisholm Company produces several products, including a karate robe. The company uses a standard cost system...
Chisholm Company produces several products, including a karate
robe. The company uses a standard cost system to assist in cost
control. According to the standards that have been set for the
robes, the factory has a denominator level of activity of 780
direct labour hours which should result in the production of 1,950
robes. The standard costs associated with this level of production
are as follows: Total $ per unit of product Direct materials
$35,490 $18.20 Direct labour 7,020 3.60...
Gargantuan Industries is a multiproduct company with several manufacturing plants. The Boise Plant manufactures and distributes...
Gargantuan Industries is a multiproduct company with several
manufacturing plants. The Boise Plant manufactures and distributes
two household cleaning and polishing compounds, standard and
commercial, under the Super Clean label. The forecasted operating
results for the first six months of the current year, when 100,000
cases of each compound are expected to be manufactured and sold,
are presented in the following statement.
SUPER CLEAN COMPOUNDS—BOISE PLANT
Forecasted Results of Operations
For the Six-Month Period Ending June 30
(in thousands)
Sales...
Gargantuan Industries is a multiproduct company with several manufacturing plants. The Boise Plant manufactures and distributes...
Gargantuan Industries is a multiproduct company with several
manufacturing plants. The Boise Plant manufactures and distributes
two household cleaning and polishing compounds, standard and
commercial, under the Super Clean label. The forecasted operating
results for the first six months of the current year, when 100,000
cases of each compound are expected to be manufactured and sold,
are presented in the following statement.
SUPER CLEAN COMPOUNDS—BOISE PLANT
Forecasted Results of Operations
For the Six-Month Period Ending June 30
(in thousands)
Standard...
Gargantuan Industries is a multiproduct company with several manufacturing plants. The Boise Plant manufactures and distributes...
Gargantuan Industries is a multiproduct company with several
manufacturing plants. The Boise Plant manufactures and distributes
two household cleaning and polishing compounds, standard and
commercial, under the Super Clean label. The forecasted operating
results for the first six months of the current year, when 100,000
cases of each compound are expected to be manufactured and sold,
are presented in the following statement.
SUPER CLEAN COMPOUNDS—BOISE PLANT
Forecasted Results of Operations
For the Six-Month Period Ending June 30
(in thousands)
Sales...
Logan Company manufactures several toy products. Logan presently manufactures and assembles all the parts for its...
Logan Company manufactures several toy products. Logan presently
manufactures and assembles all the parts for its toy truck product.
Another toy company has offered to sell the parts to Logan for
$2.00 per truck. Logan is considering this offer. If Logan buys the
truck parts instead of making them, the space used in producing the
parts could be used for a new toy monster, which is scheduled to
begin production next year. If Logan continues to produce the parts
for...
Halo Inc. manufactures several different products including product A and product B. Halo uses activity-based costing,...
Halo Inc. manufactures several different products including
product A and product B. Halo uses activity-based costing, such
that the total manufacturing overhead for the month, of $750,000,
is assigned to the following cost pools with the corresponding
activity levels:
Cost Pool
Activity Cost Driver
Setup
$100,000
100 no. of setups
Maintenance
$250,000
1,250 machine hours
Packing & Shipping
$400,000
200 no. of deliveries
The following information for products A and B for the current
month is available:
A
B
No....
Inventory Case JMI Industries (“JMI” or “the Company”), a publicly traded company, manufactures and sells coaxial...
Inventory Case
JMI Industries (“JMI” or “the Company”), a publicly traded
company, manufactures and sells coaxial and fiber optical cable.
JMI is contemplating two separate transactions for which it is
evaluating the appropriate inventory and revenue recognition.
Transaction 1: BigWire, a customer of JMI,has
entered into a binding written agreement to purchase 1,000 feet of
fiber optic cable for $3.00 per foot. Because BigWire is
constructing a new warehouse, it is unable to take delivery of the
cable and has...
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