Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Staley Toy Co. makes toy flutes. Two manufacturing overhead application bases are used; some overhead is applied on the basis of machine hours at a

Staley Toy Co. makes toy flutes. Two manufacturing overhead application bases are used; some overhead is applied on the basis of machine hours at a rate of $7.20 per machine hour, and the balance of the overhead is applied at the rate of 250% of direct labor cost. Required: a. Calculate the cost per unit of October production of 1,420 toy flutes that required. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Raw materials costing $960. 36 direct labor hours costing $612. 60 machine hours. b. At the end of October, 1,310 of these toy flutes had been sold. Calculate the ending inventory value of the toy flutes still in inventory at October 31. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Cost per toy flute producedper unit. At the end of October, 1,310 of these toy flutes had been sold. Calculate the ending inventory value of the toy flutes still in inventory at October 31. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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

Payroll Accounting 2022

Authors: Bernard J. Bieg, Judith A. Toland

32nd Edition

0357518756, 9780357518755

More Books

Students also viewed these Accounting questions