Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have 10 questions that I need help with. Please see the attachment. 1. Given the following information, compute the total number of units for

I have 10 questions that I need help with. Please see the attachment.image text in transcribed

1. Given the following information, compute the total number of units for the period. Direct labor hours Direct labor cost Direct materials cost Total manufacturing cost Fixed overhead cost Variable overhead cost (Points : 1) 360 432 640 840 12,000 $2.70 per hour $75 per unit $132,600 $36,000 50% of total labor cost 2. The Shapely Company uses the highlow method to determine its cost equation. The following information was gathered for 2008: Busiest month (June) Slowest month (December) Machine Hours 14,000 6,000 Direct Labor Costs $200,000 $120,000 If Shapely expects to use 10,000 machine hours next month, what are the estimated direct labor costs? (Points : 1) $160,000 $180,000 $175,000 $150,000 3. The Blade Division of Axe Company produces hardened steel blades. Onethird of Blade's output is sold to the Forestry Products Division of Axe; the remainder is sold to outside customers. Blades' estimated operating profit for the year is: Sales Variable costs Fixed costs Operating profits. Unit sales Forestry Division $15,000 (10,000) (3,000) $2,000 10,000 Outside Customers $40,000 (20,000) (6,000) $ 14,000 20,000 The Forestry Division has an opportunity to purchase 10,000 blades of the same quality from an outside supplier on a continuing basis. The Blade Division cannot sell any additional products to outside customers. Should the Axe Company allow its Forestry Division to purchase the blades from the outside supplier at $1.25 per unit? (Points : 1) No; making the blades will save Axe $1,500. Yes; buying the blades will save Axe $1,500. No; making the blades will save Axe $2,500. Yes; buying the blades will save Axe $2,500. 4. The statistic used to determine if the total cost function is significantly different from the fixed cost function is the (Points : 1) tvalue of the bcoefficient. coefficient of determination. standard error of the estimate. coefficient of correlation. standard error of the acoefficient. 5. The UVW Manufacturing Company produces a single product in batches throughout the year. Which of the following product costing systems should be used by UVW? (Points : 1) joborder costing process costing operation costing batch costing 6. Which of the following would be the least appropriate allocation base for allocating overhead in a highly automated (i.e., capitalintensive) manufacturing company? (Points : 1) electricity used machine hours direct labor hours material consumed 7. The CJP Company produces 10,000 units of item S10 annually at a total cost of $190,000. Direct materials Direct labor Variable overhead Fixed overhead Total $ 20,000 55,000 45,000 70,000 $190,000 The XYZ Company has offered to supply 10,000 units of S10 per year for $18 per unit. If CJP accepts the offer, $4 per unit of the fixed overhead would be saved. In addition, some of CJP's facilities could be rented to a third party for $15,000 per year. What are the relevant costs for the "make" alternative? (Points : 1) $160,000 $165,000 $175,000 $185,000 8. Regression analysis does not assume a (Points : 1) linear relationship between the dependent and independent variables(s). normal distribution of the actual values (y) around the predicting equation (y'). constant variance for the independent error terms (e) from the predicting equation. logical and causal relationship between the dependent and independent variable(s). 9. The theory of constraints focuses on maximizing throughput contribution margin while minimizing all of the following except (Points : 1) fixed overhead costs. production bottlenecks. investment in buildings. investment in inventories. 10. Techniques, Inc. uses a predetermined manufacturing overhead rate based on direct labor hours to apply its indirect product costs to jobs. The following information has been collected for the previous year: Direct materials $150,000 Direct labor 200,000 Sales commissions 100,000 Indirect labor 50,000 Rent on office equipment 25,000 Depreciation - factory building 75,000 Utilities - factory 125,000 Techniques used 25,000 direct labor hours and 50,000 machine hours during the previous year. What is the predetermined overhead rate per direct labor hour? (Points : 1) $24.00 $15.00 $14.00 $10.00

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

Corporate Financial Accounting

Authors: Carl S Warren, Jeff Jones

16th Edition

0357510380, 978-0357510384

More Books

Students also viewed these Accounting questions