A manufacturing company prepays its insurance coverage for athree-year period. The premium for the three years is $4,770 and ispaid at the beginning of the first year. Seventy percent of thepremium applies to manufacturing operations and thirty percentapplies to selling and administrative activities. What amountsshould be considered product and period costs respectively for thefirst year of coverage?
The following costs were incurred in September:
Direct materials $45,200 Direct labor $31,000 Manufacturing overhead $23,400 Selling expenses $19,100 Administrative expenses $33,700
Conversion costs during the month totaled:
At an activity level of 8,600 machine-hours in a month, NoonerCorporation's total variable production engineering cost is$734,440 and its total fixed production engineering cost is$154,000. What would be the total production engineering cost perunit, both fixed and variable, at an activity level of 8,800machine-hours in a month? Assume that this level of activity iswithin the relevant range.
A manufacturing company prepays its insurance coverage for athree-year period. The premium for the three years is $4,770 and ispaid at the beginning of the first year. Seventy percent of thepremium applies to manufacturing operations and thirty percentapplies to selling and administrative activities. What amountsshould be considered product and period costs respectively for thefirst year of coverage?
The following costs were incurred in September:
| Direct materials | $45,200 |
| Direct labor | $31,000 |
| Manufacturing overhead | $23,400 |
| Selling expenses | $19,100 |
| Administrative expenses | $33,700 |
Conversion costs during the month totaled:
At an activity level of 8,600 machine-hours in a month, NoonerCorporation's total variable production engineering cost is$734,440 and its total fixed production engineering cost is$154,000. What would be the total production engineering cost perunit, both fixed and variable, at an activity level of 8,800machine-hours in a month? Assume that this level of activity iswithin the relevant range.
Related questions
3 Dapper Corporation had only one job in process on May 1. Thejob had been charged with $1,310 of direct materials, $3,440 ofdirect labor, and $6,060 of manufacturing overhead cost. Thecompany assigns overhead cost to jobs using the predeterminedoverhead rate of $16.40 per direct labor-hour. During May, thefollowing activity was recorded: Raw materials (all directmaterials): Beginning balance $ 10,100 Purchased during the month$21,700 Used in production $29,300 Labor: Direct labor-hours workedduring the month 2,250 Direct labor cost incurred $29,700 Actualmanufacturing overhead costs incurred $35,600 Inventories: Rawmaterials, May 30 ? Work in process, May 30 $14,200 Work in processinventory on May 30 contains $3,036 of direct labor cost. Rawmaterials consist solely of items that are classified as directmaterials. The balance in the raw materials inventory account onMay 30 was: $2,500 $3,020 $2,380 $2,620
8...At an activity level of 9,400 machine-hours in a month,Nooner Corporation's total variable production engineering cost is$828,140 and its total fixed production engineering cost is$222,300. What would be the total production engineering cost perunit, both fixed and variable, at an activity level of 9,500machine-hours in a month? Assume that this level of activity iswithin the relevant range. (Do not round intermediatecalculations.) |
$111.15
$110.61
$111.50
$111.68
10....
10.Meyers Corporation had the following inventory balances atthe beginning and end of November:
| November 1 | November 30 | ||||
| RawMaterials | $ | 40,000 | $ | 18,000 | |
| Finished Goods | $ | 110,000 | $ | 75,000 | |
| Work in Process | $ | 16,000 | $ | 25,000 | |
11.
The actual direct labor-hours worked during November totaled:(Round your answers to the nearest dollar.) |
6,667 hours
6,111 hours
7,857 hours
8,571 hours
13 A manufacturing company that produces a single product hasprovided the following data concerning its most recent month ofoperations: |
Selling price | $149 |
Units in beginning inventory | 0 |
Units produced | 2,770 |
Units sold | 2,520 |
Units in ending inventory | 250 |
Variable costs per unit: | |
Direct materials | $51 |
Direct labor | $20 |
Variable manufacturing overhead | $10 |
Variable selling and administrative | $12 |
Fixed costs: | |
Fixed manufacturing overhead | $96,950 |
Fixed selling and administrative expenses | $35,280 |
The total gross margin for the month under absorption costingis: |
$83,160
$17,640
$130,320
$141,120
14 A manufacturing company that produces a single product hasprovided the following data concerning its most recent month ofoperations: |
Units in beginning inventory | 0 |
Units produced | 4,750 |
Units sold | 4,650 |
Units in ending inventory | 100 |
Variable costs per unit:
Direct materials | $ | 56 |
Direct labor | $ | 58 |
Variable manufacturing overhead | $ | 21 |
Variable selling and administrative | $ | 19 |
Fixed costs:
Fixed manufacturing overhead | $ | 99,750 |
Fixed selling and administrative | $ | 46,500 |
What is the variable costing unit product cost for the month?
$154 per unit
$175 per unit
$135 per unit
$141 per unit
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15 Bartelt Inc., which produces a single product, has providedthe following data for its most recent month of operations: |
Number of units produced | 4,600 |
Variable costs per unit: | |
Direct materials | $108 |
Direct labor | $105 |
Variable manufacturing overhead | $5 |
Variable selling and administrative expense | $12 |
Fixed costs: | |
Fixed manufacturing overhead | $184,000 |
Fixed selling and administrative expense | $322,000 |
There were no beginning or ending inventories. The absorptioncosting unit product cost was: |
$213 per unit
$258 per unit
$218 per unit
$340 per unit
16 Rehmer Corporation is working on its direct labor budget forthe next two months. Each unit of output requires 0.09 directlabor-hours. The direct labor rate is $8.50 per direct labor-hour.The production budget calls for producing 5,600 units in June and6,100 units in July. |
Required: | ||||||||||||||||||
| Construct the direct labor budget for the next two months,assuming that the direct labor work force is fully adjusted to thetotal direct labor-hours needed each month. (Round youranswers to 2 decimal places.)
|
