The Information below is taken from production department of Salalah Company for August: The number of units produced is 20000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost Total labor cost 800000 500000 110000 Manufacturing Overhead 100000 40000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y = f+ vX. D. Assume Salalah intends to produce 30000 units next month. Calculate total production costs for the month
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- Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost 500000 Direct material cost Total labor cost Manufacturing Overhead 90000 400000 100000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y =f+vX. D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month Question 6: Find the missing information for different companies Output (units) Fixed Costs Variable Costs Total Costs Cost per unit Company A Company B 4000 70000 50000 ? 5000 80000 140000 Company C 130000 8000 30000 Company D 80000 100000 20Doaktown Products manufactures fishing equipment for recreational uses. The Miramichi plant produces the company's two versions of a special reel used for river fishing. The two models are the M-008, a basic reel, and the M-123, a new and improved version. Cost accountants at company headquarters have prepared costs for the two reels for the most recent period. The plant manager is concerned. The cost report does not coincide with her intuition about the relative costs of the two models. She has asked you to review the cost accounting and help her prepare a response to headquarters. Manufacturing overhead is currently assigned to products based on their direct labor costs. For the most recent month, manufacturing overhead was $334,400. During that time, the company produced 14,900 units of the M-008 and 2,400 units of the M-123. The direct costs of production were as follows. М-008 М-123 Total Direct materials $119,200 $ 96,000 48,000 $215,200 Direct labor 119,200 167,200 Management…Flexible budgets are determined and all overhead cost items are assigned on the basis Exercise 6-17 Reliance, Inc. utilizes a standard cost system for budget and control purposes. Flexible budgets are determined and all overhead cost items are assigned on the basis of standard direct labor hours. The following standard cost per finished unit was determined on the basis of a projected monthly normal production for 2020: Direct materials (3 pounds @ P6.00) Direct labor (0.30 hour @P40.00) Variable overhead (0.30 hour @P10) Fixed overhead ().30 hour @ P6-2/3) P18.00 12.00 3.00 2.00 Total P35.00 You have just received the condensed performance report for the month of Sept., 2020. VARIANCE ANALYSIS Quantity Capacity or time or Standard Price or Сaрacity Costs Rate Efficiency P6,000 U 1,200 U Variances Direct materials used Direct labor costs Variable overhead Fixed overhead Applied P162,000 108,000 27,000 18,000 P14,000 F *18,200 U 5,250 U 300 U P4,000** U 1,500 U *Includes labor joint…
- The following data have been extracted from the records of Puzzle Incorporated: Production level, in units Variable costs Fixed costs Mixed costs Total costs Required A Required B Required: a. Calculate the missing costs. b. Calculate the cost formula for mixed cost using the high-low method. c. Calculate the total cost that would be incurred for the production of 12,880 units. d. Identify the two key cost behavior assumptions made in the calculation of your answer to part c. Required C Production level, in units Variable costs Fixed costs Mixed costs Total costs Complete this question by entering your answers in the tabs below. Calculate the missing costs. Note: Do not round intermediate calculations. February 9,200 $ 19,320 ? 16,312 $ 71,532 February 9,200 $ 19,320 $ 2 X 16,312 $ 71,532 Required D August August 20, 240 $? 35,900 ? $ 106,970 Answer is not complete. 20,240 34,255 35,900 52,475 $ 106,970Baden Company has gathered the following information. Units in beginning work in process 0 Units started into production 37,000 Units in ending work in process 7,000 Percent complete in ending work in process: Conversion costs Materials Costs incurred: Direct materials Direct labor Overhead 4 80 40 % 100 % $73,000 $61,100 $101,100Data table Units of D4H produced and sold 1. 2. Selling price 3. Direct materials (kilograms) 4. Direct material cost per kilogram 5. Manufacturing capacity (units of D4H) 6. Total conversion costs 7. 8. Selling and customer-service capacity 9. Total selling and customer-service costs 10. Selling and customer-service capacity cost per customer 11. Design staff 12. Total design costs 13. Design cost per employee Conversion cost per unit of capacity Alt+Q Print Done $ $ 210 41,000 $ 310,000 7.25 $ 250 2,125,000 $ 8,500 $ $ $ 2,150,000 8,600 95 customers 90 customers 900,000 10,000 12 1,045,000 $ 11,000 $ 12 1,212,000 $ 101,000 $ $ $ ZUZT $ $ ZUZZ 235 43,000 325,000 7.75 250 1,218,000 101,500 (similar to) Data table HW Score: 3.03%, 0.12 of 4 points Daint 0 10 of 1 Revenue effect of growth Cost effect of growth The company has chosen a product differentiation strategy. The growth, price- recovery, and productivity components of the change in operating income from 2021 to 2022 are as…
- (c2) Estimated daily production costs for April 1 using both the high-low method and the regression model and actual manufacturing costs incurred on April 1 are provided here. Units manufactured Total cost 3,897 $296,512 Estimated cost using high-low method Estimated cost using the regression model Actual cost B $300,486 $296,149 $296,512 Identify which is the most reliable approach to estimating costs and explain why. I U T₁ T' IEEE J E H 3 99 = FEB á(b) x Your answer is incorrect Following the weighted-average method of process costing, determine the following 1. Total costs to account for in this assembly department. $ 2. The cost per equivalent unit for DM. 3. The cost per equivalent unit for conversion costs. w Transcribed Text No. Account Titles and Explanation (2) WIP Inventory-Assembly RM Inventory WIP Inventory-Assembly Salaries and Wages Payable MOH Control w Transcribed Text Total equivalent units of work done DM J 3,310 $ $ C Conversion Costs 2.750 226660 32 Debit per unit per unit 120,990 42750 Credit As Nash Manufacturing produced bookshelves this month, its accountants were in contact with production managers to keep tabs on costs. The WIP Inventory-Assembly account had a beginning balance as follows: DM costs of $41,200 and conversion costs of $31,500. Additional DM costs were added to this assembly department this month totaling $120.990, along with conversion costs of $42.750. Direct materials were pulled from RM…What formula do we use in accounting to determine estimated total manufacturing overhead (MOH)? Group of answer choices Y = mX +b Y = a+ bX (Estimated Total MOH/(Estimated Total Cost Driver) (Actual Total MOH)/(Actual Total Cost Driver) (Estimated Total MOH/(Actual Total Cost Driver)
- A production cost report Is an accounting report that describes the physical flow of units, equvalent units of production for direct materials and converslon, costs pet e nt urit of production for direct materials and for conversion, and the assignment of total costs to units worked on in the perlod. True or False True False Next 18 of 25 < Prev! Required information [The following information applies to the questions displayed below.] For many years, Thomson Company manufactured a single product called LEC 40. Then three years ago, the company automated a portion of its plant and at the same time introduced a second product called LEC 90 that has become increasingly popular. The LEC 90 is a more complex product, requiring 0.60 hours of direct labor time per unit to manufacture and extensive machining in the automated portion of the plant. The LEC 40 requires only 0.20 hours of direct labor time per unit and only a small amount of machining. Manufacturing overhead costs are currently assigned to products on the basis of direct labor-hours. Despite the growing popularity of the company's new LEC 90, profits have been declining steadily. Management is beginning to believe that there may be a problem with the company's costing system. Direct material and direct labor costs per unit are as follows: Direct materials Direct labor…Learned Corporation has provided the following information: Direct materials. Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions a. Total product cost b. Total period cost Cost per Unit Cost per Period $ 5.80 $ 4.00 $ 1.60 c. Contribution margin per unit d. Total direct manufacturing cost e. Total indirect manufacturing cost $ 0.70 $ 0.60 Variable administrative expense Fixed selling and administrative expense Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 6,000 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 6,000 units? c. If the selling price is $23.30 per unit, what is the contribution margin per unit sold? Note: Round your answer to 2 decimal places. d. If 7,000 units are produced, what is the total amount of direct manufacturing cost incurred? e. If 7,000 units are produced, what is the total amount of indirect manufacturing…