Question
all 5 questions please uestion 6: Mitchel Corporation manufactures a single product. Last year, variable costing net operating income was $55,000. The fixed manufacturing overhead
all 5 questions please
uestion 6: Mitchel Corporation manufactures a single product. Last year, variable costing net operating income was $55,000. The fixed manufacturing overhead costs released from inventory under absorption costing amounted to $24,000. Required: What is the absorption costing net operating income from last year? Materials Conversion Work in process, August 1 $31,734 $30,320 Cost added to production in the Mixing Department during August $91,332 $81,864 Equivalent units of production for August 7,740 7,580 4 Final Examination Question 7: Calder Corporation manufactures and sells one product. The following information pertains to the company's first year of operations: The company does not have any variable manufacturing overhead costs or variable selling and administrative costs. During its first year of operations, the company produced 48,000 units and sold 45,000 units. The companys only product sells for $258 per unit. Required: What is the net operating income? Question 8: Mouret Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products. Last year, Product N79A required 28 batches, 6 customer orders, and 712 assembly hours. Required: How much total overhead cost would be assigned to Product N79A using the company's activity-based costing system? Variable costs per unit: Direct Materials $92 Fixed costs per year: Direct Labor $720,000 Fixed manufacturing overhead $3,264,000 Fixed selling and administrative $1,935,000 Activity Cost Pools Activity Rate Setting up batches $92.68 per batch Processing customer orders $95.08 per customer order Assembling products $3.41 per assembly hour Final Examination 5 Question 9: The manufacturing overhead budget of Paparella Corporation is based on budgeted direct labor-hours. The November direct labor budget indicates that 6,000 direct labor-hours will be required in that month. The variable overhead rate is $2.00 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $79,200 per month, which includes depreciation of $21,000. All other fixed manufacturing overhead costs represent current cash flows. Required: A. Determine the cash disbursements for manufacturing overhead for November. B. Determine the predetermined overhead rate for November. Question 10: Sund Corporation bases its budgets on the activity measure customers served. During April, the company plans to serve 38,000 customers. The company has provided the following data concerning the formulas it uses in its budgeting: Required: Prepare the companys planning budget for April. What is the net operating income? Fixed element per month Variable element per month Revenue $2.10 Wages and salaries $25,000 $0.50 Supplies $0 $0.30 Insurance $6,200 $0.00 Miscellaneous expense $2,500 $0.40 6 Final Examination Question 11: Shawl Corporation's variable overhead is applied on the basis of direct labor-hours. The standard cost card for product F02E specifies 5.5 direct labor-hours per unit of F02E. The standard variable overhead rate is $6.80 per direct labor-hour. During the most recent month, 1,560 units of product F02E were made and 8,700 direct laborhours were worked. The actual variable overhead incurred was $52,635. Required: A. What was the variable overhead rate variance for the month? B. What was the variable overhead efficiency variance for the month?
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