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Attached are a few Cost accounting problems I am having a hard time with. Help would be appreciated. Thank you The Long Term Care Plus
Attached are a few Cost accounting problems I am having a hard time with. Help would be appreciated. Thank you
The Long Term Care Plus Company has two service departments actuarial and premium rating, and two 3 production departments marketing and sales. The distribution of each service department's efforts to the other departments is shown below: FROM TO Actuarial Actuarial Rating Rating Marketing Sales 0.0% 40.0% 20.0% 40.0% 26.0% 0.0% 39.8% 34.2% The direct operating costs of the departments (including both variable and fixed costs) were as follows: Actuarial $64,000 Rating $42,000 Marketing $64,000 Sales $75,000 The total cost accumulated in the marketing department using the reciprocal method is: East Bay Fisheries Inc. processes king salmon for various distributors. Two departments are involved 4 processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2013 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory - June 1 1,480 89 78 Work-in-process inventory - June 31 2,780 59 40 Started processing during June 7,830 Total equivalent units for materials under the FIFO method are calculated to be: 5 Bradford Company derived the following cost relationship from a regression analysis of its monthly manufacturing overhead cost: C = $80,000 + $12M where: C = monthly manufacturing overhead cost, and M = machine hours The standard error of estimate of the regression is $6,000 The standard time required to manufacture one six-unit case of Bradford's single product is two machine hours Bradford applies manufacturing overhead to production on the basis of machine hours, and its normal annual production is 50,000 cases Bradford's estimated variable manufacturing overhead cost for a month in which scheduled production is 5,000 cases would be: Norio Manufacturing uses powdered plastics (PPS) to manufacture a high-pressure board used in digital 6 equipment, Flex 10. Information concerning its operation in June is as follows: Budgeted units of Flex 10 for June Budgeted usage of FPS Number of units of Flex 10 manufactured 4,800 42,000 pounds 3,800 PFS purchased 41,270 pounds PFS used 37,400 pounds Total actual cost of FPS used Direct materials usage variance - unfavorable $212,747 $20,620 The cost of PPS in the flexible budget for the number of units manufactured this period is: Shoemaker Perkins Company uses a standard cost system and had 330 pounds of raw material X15 on hand on September 1. The standard cost is $8.47 per pound. The standard calls for 1.70 pounds of material X15 for each unit of the product manufactured. The company manufactured 510 units of the product in September, and had 430 pounds of Material X-15 in stock on September 30. The actual price for Material X-15 purchased during the month was $0.80 per pound below the standard cost. The material usage variance in September was $2,500 unfavorable. What is the standard cost of materials for the units produced in September? 7Step by Step Solution
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