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HELLO, i have an assignment in cost Accounting and i need it to be answered with in ten hours. thanks i have attached it, thx

HELLO, i have an assignment in cost Accounting and i need it to be answered with in ten hours. thanks

i have attached it, thx

image text in transcribed 1. (10 pts.) Mannix produces different kinds of industrial packing materials, all in one manufacturing facility. They have identified four activities for their costing system: Materials managementallocated by number of purchase orders Chemical processingallocated on metric tons Moldingallocated on direct labor hours Packagingallocated by number of units produced The activity rates are as follows: Materials management Chemical processing Molding Packaging $10.00 $6.50 $23.50 $0.25 Per purchase order Per metric ton Per direct labor hour Per unit Engineering design shows that the order will require direct material worth $775, direct labor cost being $125, require 5 purchase orders to be placed, use 6 metric tons of chemical base, need 12 direct labor hours. The size of the order is to produce 5,000 units of product. Required: (1) Calculate the overhead cost of the order. (2) Calculate total cost of production of the order. 2. (15 pts.) Benny Company provides housecleaning services to its clients. The company uses an activity-based costing system for its overhead costs. The company has provided the following data from its activity-based costing system. Activity Cost Pool Cleaning Job support Client support Other Total Total Activity $101,574 16,200hours 32,724 1,800jobs 5,472 320clients Not applicable $239,770 Total Cost 100,000 The "Other" activity cost pool consists of the costs of idle capacity and organization-sustaining costs. One particular client, the Smith family, requested 32 jobs during the year that required a total of 192 hours of housecleaning. For this service, the client was charged $2,200. Required: a. Using the activity-based costing system, compute the client margin for the Smith family. Round off all calculations to the nearest whole cent. b. Assume the company decides instead to use a traditional costing system in which ALL costs are allocated to clients on the basis of cleaning hours. Compute the margin for the Smith family. Round off all calculations to the nearest whole cent. 3. (15 pts.) James Company is working on its direct labor budget for the next two months. Each unit of output requires 0.07 direct labor-hours. The direct labor rate is $8.50 per direct labor-hour. The production budget calls for producing 4,800 units in June and 5,300 units in July. Required: Construct the direct labor budget for the next two months, assuming that the direct labor work force is fully adjusted to the total direct labor-hours needed each month. 4. (25 pts.) Really Cool has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8. Inventory levels for materials are equal to 30% of the needs for the next month. Materials inventory on June 1 was 15,000 pounds. Required: a. Prepare production budgets in units for July, August, and September. b. Prepare a purchases budget in pounds for July, August, and September, and give total purchases in both pounds and dollars for each month. 5. (15 pts.) Billy Bob manufactures two models of grooming stations, a standard and a deluxe model. The following activity and cost information has been compiled: Product Standard Deluxe Overhead costs Number of Setups 3 7 Number of Components 30 50 $40,000 Number of Direct Labor Hours 650 150 $120,000 Assume a traditional costing system applies the $160,000 of overhead costs based on direct labor hours. a. What is the total amount of overhead costs assigned to the standard model? b. What is the total amount of overhead costs assigned to the deluxe model? Assume an activity-based costing system is used and that the number of setups and the number of components are identified as the activity-cost drivers for overhead. c. What is the total amount of overhead costs assigned to the standard model? d. What is the total amount of overhead costs assigned to the deluxe model? e. Explain the difference between the costs obtained from the traditional costing system and the ABC system. Which system provides a better estimate of costs? Why

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