Question
4 The Duerr Company manufactures a single product. All raw materials used are traceable to specific units of product. Current information for the Duerr Company
4
The Duerr Company manufactures a single product. All raw materials used are traceable to specific units of product. Current information for the Duerr Company follows:
Beginning raw materials inventory | $ | 11,000 | |
Ending raw materials inventory | 14,000 | ||
Raw material purchases | 88,000 | ||
Beginning work in process inventory | 23,000 | ||
Ending work in process inventory | 33,000 | ||
Direct labor | 113,000 | ||
Total factory overhead | 88,000 | ||
Beginning finished goods inventory | 63,000 | ||
Ending finished goods inventory | 43,000 | ||
The company's cost of raw materials used, cost of goods manufactured and cost of goods sold is:
18Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 88,000 units, 70% complete as to materials and 20% complete as to conversion. Units started and completed: 258,000. Units completed and transferred out: 346,000. Ending Inventory: 34,000 units, 40% complete as to materials and 15% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $45,200. Costs in beginning Work in Process - Conversion: $87,700. Costs incurred in October - Direct Materials: $710,740. Costs incurred in October - Conversion: $1,044,530. Calculate the cost per equivalent unit of conversion.
26.
Angle Max Industries produces a product which goes through two operations, Assembly and Finishing, before it is ready to be shipped. Next years expected costs and activities are shown below.
Assembly | Finishing | |||||
Direct labor hours | 150,000 | DLH | 145,000 | DLH | ||
Machine hours | 350,000 | MH | 78,750 | MH | ||
Overhead costs | $ | 350,000 | $ | 507,500 | ||
Assume that the Assembly Department allocates overhead based on machine hours, and the Finishing Department allocates overhead based on direct labor hours. How much total overhead will be assigned to a product that requires 1 direct labor hour and 3.0 machine hours in the Assembly Department, and 3.6 direct labor hours and 0.5 machine hours in the Finishing Department?
27.
Angle Max Industries produces a product which goes through two operations, Assembly and Finishing, before it is ready to be shipped. Next years expected costs and activities are shown below.
Assembly | Finishing | |||||
Direct labor hours | 150,000 | DLH | 145,000 | DLH | ||
Machine hours | 350,000 | MH | 78,750 | MH | ||
Overhead costs | $ | 350,000 | $ | 507,500 | ||
Assume that the Assembly Department allocates overhead using a plantwide overhead rate based on machine hours. How much total overhead will be assigned to a product that requires 1 direct labor hour and 3.00 machine hours in the Assembly Department, and 3.60 direct labor hours and 0.5 machine hours in the Finishing Department?
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