Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Analyzing product costs Tamra Corp. makes one product line. In February, Tamra paid $ 1 , 1 6 6 , 0 0 0 in factory

Analyzing product costs
Tamra Corp. makes one product line. In February, Tamra paid $1,166,000 in factory overhead costs. Of that amount, $272,800 was for January's factory utilities and $105,600 was for property taxes on the factory for the year. February's factory utility bill arrived on March 12, and was only $178,200 because the weather was significantly milder than in January. Tamra Corp. produced 110,000 units of product in both January and February.
a. What were Tamra's actual factory overhead costs for February? $
b. Actual per-unit direct material and direct labor costs for February were $24.30 and $10.95. What was actual total product cost per unit for February?
Note: Round final answer to two decimal places.
Analyzing product costs
Tamra Corp. makes one product line. In February, Tamra paid $1,166,000 in factory overhead costs. Of that amount, $272,800 was for January's factory utilities and $105,600 was for property taxes on the factory for the year. February's factory utility bill arrived on March 12, and was only $178,200 because the weather was significantly milder than in January. Tamra Corp. produced 110,000 units of product in both January and February.
a. What were Tamra's actual factory overhead costs for February? $ 893,200
b. Actual per-unit direct material and direct labor costs for February were $24.30 and $10.95. What was actual total product cost per unit for February?
Note: Round final answer to two decimal places.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advances In Quantitative Analysis Of Finance And Accounting - New Series (Vol. 2)

Authors: Lee Cheng Few

1st Edition

9812561641, 9789812561640

More Books

Students also viewed these Accounting questions

Question

Participate in virtual teams and conduct face-to-face meetings

Answered: 1 week ago