Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show the steps and formulas thanks!! 10 Austen Company makes a single product. Each unit requires $55 of direct materials. Manufacturing overhead (MOH) cost

Please show the steps and formulas thanks!! image text in transcribed
image text in transcribed
10 Austen Company makes a single product. Each unit requires $55 of direct materials. Manufacturing overhead (MOH) cost is applied in the amount of 150% of direct labor cost. Two thirds of the MOH cost is fixed. The company had no beginning or ending inventory in August. The company reports additional information for August below: Sales quantity 8,000 units Selling price $ 300 Manufacturing cost per unit $ 130 Variable selling & administrative cost per unit at $ 50 Fixed selling & administrative cost og ba$ 290,500 al What was the total contribution margin for August? A. $ 960,000 8 $ 1.200,000 C. $ 1,600,000 D. $ 1,360,000 E. None of the above. and see red u Sales 2:400,000 VC 1,440,000 C) Page 2 of 12 Collins Corporation has two production departments, Assembling and Finishing. The company uses a job-order costing system and computes a predetermined manufacturing overhead (MOH) rate for the entire plant as a whole (plantwide), using direct labor-hours (DLHs) as the allocation base. At the beginning of the current year, the company had made the following estimates: Assembling Finishing Total Machine Hours (MH) TO 18,000 14,000 32,000 DLHS 2,000 8,000 10,000 Total fixed MOH 99,000 $ 70,400 $ 169,400 Variable MOH $ 37,800 $ 29,600 $ 67,400 DLHS During the current month the company started and finished Job T617. The following data were recorded for this job: Job T617 Assembling Finishing Total MHS 90 20 110 30 60 90 Direct materials $ 940 350 $ 1,290 stolar bu Direct labor cost $ 960 $ 1920 $ 2,880 BV HALDA 1 The total job cost for Job T617 is closest to SOMOS A $ 6,774.80 CH B. $ 4,880.40 C. $ 4,170.00 DLH D. $ 6,301.20 E. None of the above bled boo 169,400+67,400 10.000

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

Step: 3

blur-text-image

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

The Marketing Audit Translating Marketing Theory Into Practice The Marketing Series

Authors: Malcolm McDonald

1st Edition

0750600896, 978-0750600897

More Books

Students also viewed these Accounting questions