{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T02:39:53-04:00", "answer_date": "2024-06-29 02:39:53", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4450928", "url": "\/study-help\/questions\/woodland-industries-manufactures-and-sells-custommade-windows-its-job-costing-4450928", "question_creation_date_js": "2024-06-29T02:39:53-04:00", "question_creation_date": "Jun 29, 2024 02:39 AM", "meta_title": "[Solved] Woodland Industries manufactures and sell | SolutionInn", "meta_description": "Answer of - Woodland Industries manufactures and sells custom-made windows. Its job costing system was designed using an activity- | SolutionInn", "meta_keywords": "woodland,industries,manufactures,sells,custom-made,windows,job,costing,system,designed,activity-based,approach", "question_title_h1": "Woodland Industries manufactures and sells custom-made windows. Its job costing system was designed using an activity-based costing approach. Direct materials and direct labor costs are", "question_title": "Woodland Industries manufactures and sells custom-made windows. Its job costing system was", "question_title_for_js_snippet": "Woodland Industries manufactures and sells custom made windows Its job costing system was designed using an activity based costing approach Direct materials and direct labor costs are accumulated separately, along with information concerning three manufacturing overhead cost drivers (activities) Assume that the direct labor rate is $18 per hour and that there were no beginning inventories The following information was available for 2019, based on an expected production level of 50,000 units for the year, which will require 200,000 direct labor hours Budgeted Costs for Cost Driver Used as Activity Cost Driver 2019 Allocation Base Cost Allocation Rate Materials handling 225,000 Number of parts used $ 0 18 per part Cutting and lathe work 1, 875, 000 Number of parts used 1 50 per part Assembly and inspection 4, 400,000 Direct labor hours 22 00 per hour The following production, costs, and activities occurred during the month of July Units Direct Materials Number of Parts Direct Labor Produced Costs Used Hours 3,400 $126, 246 74, 800 14, 320 Required a Calculate the total manufacturing costs and the cost per unit of the windows produced during the month of July (using the activity based costing approach) (Round Cost per unit produced to 2 decimal places ) x Answer is complete but not entirely correct Total manufacturing cost $ 849,400 x Cost per unit produced $ 249 82 x b Assume instead that Woodland Industries applies manufacturing overhead on a direct labor hours basis (rather than using the activity based costing system previously described) Calculate the total manufacturing cost and the cost per unit of the windows produced during the month of July (Hint You will need to calculate the predetermined overhead application rate using the total budgeted overhead costs for 2019 ) (Round Cost per unit produced to 2 decimal places ) x Answer is complete but not entirely correct Total manufacturing cost $ 6,500,000 x st per unit produced $ 32 50 xDirect materials cost 126240 257760 465400 849400 249 824 Total overheads cost for 2019I Materials handling 225000 Cutting and lathe work 1875000 Assembly and inspection 4400000 6500000 Total labour hrs 200000 Overhead per hr", "question_description": "
\"image\"image<\/div><\/div><\/div><\/figure> Woodland Industries manufactures and sells custom-made windows. Its job costing system was designed using an activity-based costing approach. Direct materials and direct labor costs are accumulated separately, along with information concerning three manufacturing overhead cost drivers (activities). Assume that the direct labor rate is $18 per hour and that there were no beginning inventories. The following information was available for 2019, based on an expected production level of 50,000 units for the year, which will require 200,000 direct labor hours: Budgeted Costs for Cost Driver Used as Activity Cost Driver 2019 Allocation Base Cost Allocation Rate Materials handling 225,000 Number of parts used $ 0.18 per part Cutting and lathe work 1, 875, 000 Number of parts used 1.50 per part Assembly and inspection 4, 400,000 Direct labor hours 22.00 per hour The following production, costs, and activities occurred during the month of July: Units Direct Materials Number of Parts Direct Labor Produced Costs Used Hours 3,400 $126, 246 74, 800 14, 320 Required: a. Calculate the total manufacturing costs and the cost per unit of the windows produced during the month of July (using the activity- based costing approach). (Round \"Cost per unit produced\" to 2 decimal places.) x Answer is complete but not entirely correct. Total manufacturing cost $ 849,400 x Cost per unit produced $ 249.82 x b. Assume instead that Woodland Industries applies manufacturing overhead on a direct labor hours basis (rather than using the activity-based costing system previously described). Calculate the total manufacturing cost and the cost per unit of the windows produced during the month of July. (Hint: You will need to calculate the predetermined overhead application rate using the total budgeted overhead costs for 2019.) (Round \"Cost per unit produced\" to 2 decimal places.) x Answer is complete but not entirely correct. Total manufacturing cost $ 6,500,000 x st per unit produced $ 32.50 xDirect materials cost 126240 257760 465400 849400 249.824 Total overheads cost for 2019I Materials handling 225000 Cutting and lathe work 1875000 Assembly and inspection 4400000 6500000 Total labour hrs 200000 Overhead per hr", "transcribed_text": "", "related_book": { "title": "Accounting Principles", "isbn": "1119491630, 978-1119491637, 978-0470534793", "edition": "10th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/54.jpg", "uri": "\/textbooks\/accounting-principles-10th-edition-54", "see_more_uri": "" }, "free_related_book": { "isbn": "B09X2VCQKB", "uri": "\/textbooks\/ksndurn-2-pcs-ginger-lymphatic-drainage-bath-soap-b09x2vcqkb", "name": "Ksndurn 2 PCS Ginger Lymphatic Drainage Bath Soap", "edition": "" }, "question_posted": "2024-06-29 02:39:53", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/use-table-of-values-to-estimate-the-value-of", "description": "Use a table of values to estimate the value of the limit. If you have a graphing device, use it to confirm your result graphically. 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