The Company manufactures two products—14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z:
| Activity Cost Pool | Activity Measure | Estimated Overhead Cost | Expected Activity | ||||
| Machining | Machine-hours | $ | 203,000 | 10,000 | MHs | ||
| Machine setups | Number of setups | $ | 121,900 | 230 | setups | ||
| Production design | Number of products | $ | 87,000 | 2 | products | ||
| General factory | Direct labor-hours | $ | 379,500 | 15,000 | DLHs | ||
| Activity Measure | Product Y | Product Z | ||||
| Machining | 8,300 | 1,700 | ||||
| Number of setups | 50 | 180 | ||||
| Number of products | 1 | 1 | ||||
| Direct labor-hours | 9,500 | 5,500 | ||||
13. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z?
In: Accounting
14-4
The manufactures two products—14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z:
| Activity Cost Pool | Activity Measure | Estimated Overhead Cost | Expected Activity | ||||
| Machining | Machine-hours | $ | 203,000 | 10,000 | MHs | ||
| Machine setups | Number of setups | $ | 121,900 | 230 | setups | ||
| Production design | Number of products | $ | 87,000 | 2 | products | ||
| General factory | Direct labor-hours | $ | 379,500 | 15,000 | DLHs | ||
| Activity Measure | Product Y | Product Z | ||||
| Machining | 8,300 | 1,700 | ||||
| Number of setups | 50 | 180 | ||||
| Number of products | 1 | 1 | ||||
| Direct labor-hours | 9,500 | 5,500 | ||||
14. Using the ABC system, what percentage of the Product Design cost is assigned to Product Y and Product Z? (Round your answers to 2 decimal places.)
In: Accounting
Calculating Price Using a Markup Percentage of Cost
Lake McDonald Gift Shop has decided to price the games that it sells at cost plus 60%. The National Parks Memory Card Game costs $15.00 each, and another one, the Guess This Animal Track Game, costs $1.50 each.
Required:
1. What price will Lake McDonald Gift Shop
charge for each National Parks Memory Card Game? If required, round
your answer to two decimal places.
$
2. What price will Lake McDonald Gift Shop
charge for each Guess This Animal Track Game? If required, round
your answer to two decimal places.
$
In: Accounting
|
Units |
Percentage Complete |
Cost |
|
|
Beginning WIP Inventory - August |
22,000 |
||
|
Direct Materials |
75% |
$ 4,200 |
|
|
Conversion Cost |
70% |
$ 2,450 |
|
|
Units Started in August |
12,000 |
||
|
Costs incurred in August |
|||
|
Direct Materials |
$ 17,000 |
||
|
Conversion Cost |
$ 16,800 |
||
|
Ending WIP Inventory |
6,000 |
||
|
Direct Materials |
80% |
||
|
Conversion Cost |
60% |
||
|
Use weighted-average process costing to compute equivalent units & prepare a PRODUCTION COST REPORT Using the format below |
|||
|
% Completed |
Equivalent Units |
||||
|
Flow of Units |
Physical Units |
DM |
Conv |
DM |
Conv |
|
Units to Account for |
|||||
|
Beginning WIP |
|||||
|
Units Started |
1200 |
||||
|
Total Units to Account for |
|||||
|
Units Accounted For |
|||||
|
Completed & TO |
|||||
|
Ending WIP |
|||||
|
Equivalent Units |
|||||
|
Flow of Costs |
|||||
|
Costs to be accounted for |
|||||
|
Costs in Beginning WIP |
|||||
|
Current Period Costs |
|||||
|
Total Costs to be Accounted for |
|||||
|
Equivalent Units |
|||||
|
Costs per EU |
|||||
|
Cost Accounted For: |
|||||
|
Units Transferred Out |
|||||
|
Ending WIP |
|||||
|
Total Costs Accounted For |
|||||
In: Accounting
In: Economics
Give examples of co-branding and ingredient branding practices in the hotel and restaurant industry. What are the advantages and disadvantages of these practices?
In: Accounting
Offer suggestions on how revenue management can be used to actually enhance guest loyalty in the hotel and/or travel industry
In: Operations Management
Scenario: A local park is being converted into a COVID-19 testing site.
Describe the internal and external stakeholders, and their importance.
In: Operations Management
He Park Company owns 80% of the outstanding common stock of the Sea Company. Park is about to lease a machine with a 5-year life to the Sea Company. The lease would begin January 1, 20X3.
Required:
Explain the adjustments that will be required in the consolidation process if each of the following occurs.
In: Accounting
Let x be a random variable that represents the weights
in kilograms (kg) of healthy adult female deer (does) in December
in a national park. Then x has a distribution that is
approximately normal with mean μ = 52.0 kg and standard
deviation σ = 9.0 kg. Suppose a doe that weighs less than
43 kg is considered undernourished.
(a) What is the probability that a single doe captured (weighed and
released) at random in December is undernourished? (Round your
answer to four decimal places.)
(b) If the park has about 2850 does, what number do you expect
to be undernourished in December? (Round your answer to the nearest
whole number.)
(c) To estimate the health of the December doe population, park rangers use the rule that the average weight of n = 80 does should be more than 49 kg. If the average weight is less than 49 kg, it is thought that the entire population of does might be undernourished. What is the probability that the average weight x for a random sample of 80 does is less than 49 kg (assuming a healthy population)? (Round your answer to four decimal places.)
(d) Compute the probability that
x < 53.1 kg for 80 does (assume a healthy population). (Round your answer to four decimal places.)
Suppose park rangers captured, weighed, and released 80 does in December, and the average weight was
x= 53.1 kg. Do you think the doe population is undernourished or not? Explain.
In: Statistics and Probability