pvn.1 The costs incurred by a small manufacturing entity are given below: Shs. Direct raw materials used 125,000 Direct labour incurred 75,000 Direct Expenses 50,000 Production overheads 60,000 Determine the prime cost for the year
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pvn.1
The costs incurred by a small manufacturing entity are given below: Shs. Direct raw materials used 125,000 Direct labour incurred 75,000 Direct Expenses 50,000 Production
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- Details $ Units produced 1,000 Direct materials $8 Direct labour $12 Fixed production overhead $7,000 Variable production overhead $3 Fixed selling and administrative $3,000 Variable selling and administrative $5 a) Determine the unit product cost under absorption costing. b)6. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL MANUFACTURING (PRODUCT) COSTS?Compute conversion costs given the following data: direct materials, $394,900; direct labor, $195,700; factory overhead, $212,200 and selling expenses, $43,800. a.$168,400 b.$802,800 c.$407,900 d.$607,100
- The cost of a manufacturing firm are as follows: $ Raw materials purchased 5,000 Direct labour 3,000 Raw materials consumed 7,000 Factory overheads 2,000 What was the Prime Costs?nttps:25A%252F%252HM..mh A company allocates materials handling cost to the company's two products using the below data: Product A Product B Total expected units produced 5,400 11,800 Total expected material 530 470 moves Expected direct labor-hour 670 150 per unit The total materials handling cost for the year is expected to be $182,000. If the materials handling cost is allocated on the basis of direct labor-hours, how much of the total materials handling cost would be allocated to the Product B? (Round your intermediate calculations to 5 decimal places.) Multiple Choice $97,944 $74,263 $35,671 $59.791In the manufacture of 10,000 units of a product, direct materials cost incurred was $143,700, direct labor cost incurred was $85,000, and applied factory overhead was $43,500. What is teh total conversion cost. A. $187,200 B. $128,500 C. $272,200 D. $43,500
- No. 1 The following is relevant for a production process for Period 1: Direct material cost $10,000 Direct labour cost $5,000 Overheads $3,000 Total costs $18,000 The process produces joint products A and B, which are then sold at the prices given below. The output figure represents all of the output from the process: Product A Product B Units of output 2,000 8,000 Price per unit $5 $2.50 Required: Calculate the cost of sales, and gross profit for products A and B assuming: (i) joint costs are apportioned by market value (ii) joint costs are apportioned by production units.Question 6: Your company currently produces a range of three products, D, E, and F to which the following details relate for Period 2. D E F Production (units) 1,500 2,500 14,000 Material cost per unit Br. 18 Br. 10 Br. 20 Labor hours per unit 1 3 2 Machine hours per unit 3 2 6 Labor costs are Br. 8 per hour and production overheads are currently absorbed in the conventional system by reference to machine hours. Total production overheads for Period 2 have been analyzed as follows: Set-up cost 327,250 Handling cost 187,000 Machine cost 140,250 Inspection cost 280,500 935,000 Calculate the cost per unit for each product using conventional The introduction of an ABC is being considered and to that end the following volume…In the manufacture of 9,400 units of a product, direct materials cost incurred was $170,200, direct labor cost incurred was $110,800, and applied factory overhead was $49,000. What is the total conversion cost? a.$159,800 b.$49,000 c.$170,200 d.$330,000
- Cost Formula The following amounts of various cost categories are experienced by Patton Manufacturing in producing and selling its only product: Direct material Direct labor $14.00 per unit of product $12.00 per direct labor hour* Manufacturing overhead $15,000 + $3.50 per direct labor hour Selling expenses $17,000+ $2.75 per unit of product Administrative $9,000+ $0.40 per unit of product *Each unit of product requires 1.5 direct labor hours. Combine the various cost factors into a general total cost formula for Patton Manufacturing and determine the total cost of producing and selling 25,000 units. Direct material Direct labor Manufacturing overhead Selling expenses Administrative Total cost Total cost Fixed costs + Variable costs = $ 0 $ 0 0 0 0 0 $ 0 $ 0 0 0 0 0 $ 0 $ 0 0 0 0 0In the manufacture of 9,200 units of a product, direct materials cost incurred was $177,200, direct labor cost incurred was $107,800, and applied factory overhead was $40,700. What is the total conversion cost? a. $177,200 b. $40,700 c. $148,500 d. $325,700Compute conversion costs given the following data: direct materials, $363,200; direct labor, $204,600; factory overhead, $192,100 and selling expenses, $39,100. a. $555,300 b. $759,900 O c. $153,000 od. $396,700