Teaches used in the manufacture of Herts ketchup Administrative sharies of executives employed by Jet Blue Airlines Wages of assembly-Fine weckers at a Feed plant Marketing expenditures of the Atlanta Braves baseball club Commisssions paid to Coon-Cele's salespeople Straight-Fane depreciation on manufacturing equipment owned by Dell Computer Shipping charges incurred by Office Depot on out-going orders Speakers used in Seey home-theater systems. Insurance costs related to a Mary Kay Cosmetics' manufacturing plant Requipment: Complete the table below by classifying each of the ones listed above as (1) a product or period cost and (2) a variable or fixed cost by placing as "X" in the appropriate colurat Rock Star, Inc., which uses a job-costing system, began business on January 1, 20times 3 and applies manufacturing overhead on the basis of direct-labor cost. The following information relates to 20times3: Budgeted direct labor and manufacturing overhead were anticipated to be $200,000 and $250,000. respectively. Job nos. 1, 2, and 3 were begun during the year and had the following charges for direct material and direct labor: Job nos. 1 and 2 were completed and sold on account to customers at a profit of 60% of cost. Job no. 3 remained in production. Actual manufacturing overhead by year-end totaled $233,000. Rock Star adjusts all under- or over-applied overhead to cost of goods sold. Required: Show all work and place your answer in the space provided Compute the company's predetermined overhead application rate. $ Compute Rock Star's ending work-in-process inventory. $ Determine Rock Star's sales revenue. $ In the space below, provide the journal entry to adjust for any under- or over-applied manufacturing overhead at year-end. If none, so state. Would the presence of under- or over- applied overhead at year-end indicate that Rock Sun's accountants made a serious error? Briefly explain. Fedora, Inc., uses a weighted-average process-costing system and has one production department All materials are introduced at the start of manufacturing; in contrast, conversion cost is incurred uniformly throughout production. The company had work-in-process inventories on May 1 of 62.000 physical units and May 31 of 70,000 units, which were 40% complete. The production supervisor noted that Fedora completed 100,000 units during the month. Costs in the May 1 work-in-process inventory included materials. $40,000 and conversion. $90,000. During May, Fedora charged production with $300,000 of material and $710,000 of conversion, resulting in a material cost per equivalent unit of $2. Required: Show all work and place your answer in the space provided. Determine the number of units that Fedora started during May. Compute the number of equivalent units for conversion. Determine the conversion cost per equivalent unit. Compute the cost of the May 31 work-in-process inventory $ In the space below, provide the journal entry to record Fedora's completed production For May. Weston Enterprises currently uses a traditional-costing system to costs for its DEX product line. Costs are estimated at 32% of direct-labor cost, and direct labor totaled $860,000 for the quarter just ended. Management is contemplating a change to activity-based costing, and has established three cost pools: incoming material inspection, in-process inspection, and final product certification. Numbers of parts, number of units, and number of orders have been selected as the respective cost drivers. The following data show the activity cost pool rates that have been calculated by the company along with the quantity of driver units for the DEXs: Required: Show all work and place your answer in the space provided Calculate the quarterly quality-control cost that is allocated to the DEX product line under Weston's traditional-costing system. $ Calculate the quarterly quality-control cost that is allocated to the DEXs if activity based costing is used. $ Teaches used in the manufacture of Herts ketchup Administrative sharies of executives employed by Jet Blue Airlines Wages of assembly-Fine weckers at a Feed plant Marketing expenditures of the Atlanta Braves baseball club Commisssions paid to Coon-Cele's salespeople Straight-Fane depreciation on manufacturing equipment owned by Dell Computer Shipping charges incurred by Office Depot on out-going orders Speakers used in Seey home-theater systems. Insurance costs related to a Mary Kay Cosmetics' manufacturing plant Requipment: Complete the table below by classifying each of the ones listed above as (1) a product or period cost and (2) a variable or fixed cost by placing as "X" in the appropriate colurat Rock Star, Inc., which uses a job-costing system, began business on January 1, 20times 3 and applies manufacturing overhead on the basis of direct-labor cost. The following information relates to 20times3: Budgeted direct labor and manufacturing overhead were anticipated to be $200,000 and $250,000. respectively. Job nos. 1, 2, and 3 were begun during the year and had the following charges for direct material and direct labor: Job nos. 1 and 2 were completed and sold on account to customers at a profit of 60% of cost. Job no. 3 remained in production. Actual manufacturing overhead by year-end totaled $233,000. Rock Star adjusts all under- or over-applied overhead to cost of goods sold. Required: Show all work and place your answer in the space provided Compute the company's predetermined overhead application rate. $ Compute Rock Star's ending work-in-process inventory. $ Determine Rock Star's sales revenue. $ In the space below, provide the journal entry to adjust for any under- or over-applied manufacturing overhead at year-end. If none, so state. Would the presence of under- or over- applied overhead at year-end indicate that Rock Sun's accountants made a serious error? Briefly explain. Fedora, Inc., uses a weighted-average process-costing system and has one production department All materials are introduced at the start of manufacturing; in contrast, conversion cost is incurred uniformly throughout production. The company had work-in-process inventories on May 1 of 62.000 physical units and May 31 of 70,000 units, which were 40% complete. The production supervisor noted that Fedora completed 100,000 units during the month. Costs in the May 1 work-in-process inventory included materials. $40,000 and conversion. $90,000. During May, Fedora charged production with $300,000 of material and $710,000 of conversion, resulting in a material cost per equivalent unit of $2. Required: Show all work and place your answer in the space provided. Determine the number of units that Fedora started during May. Compute the number of equivalent units for conversion. Determine the conversion cost per equivalent unit. Compute the cost of the May 31 work-in-process inventory $ In the space below, provide the journal entry to record Fedora's completed production For May. Weston Enterprises currently uses a traditional-costing system to costs for its DEX product line. Costs are estimated at 32% of direct-labor cost, and direct labor totaled $860,000 for the quarter just ended. Management is contemplating a change to activity-based costing, and has established three cost pools: incoming material inspection, in-process inspection, and final product certification. Numbers of parts, number of units, and number of orders have been selected as the respective cost drivers. The following data show the activity cost pool rates that have been calculated by the company along with the quantity of driver units for the DEXs: Required: Show all work and place your answer in the space provided Calculate the quarterly quality-control cost that is allocated to the DEX product line under Weston's traditional-costing system. $ Calculate the quarterly quality-control cost that is allocated to the DEXs if activity based costing is used. $