Ziegler Inc, has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: a. Determine the varrable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollac.) per unit Total fixed cost: b. Based on part (a), estimate the total cost for 1,570 units of production. Total cost for 1,570 units: Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are llsted below. All of the machine hours take place in the Fabrication Department, which has an estimated overhead of $84,000. All of the labo hours take place in the Assembly Department, which has an estimated total overhead of $72,000. Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs based on direct labor hours. The factory overhead allocated per unit of Dinks is a. $1950 b. 539.00 c. 577.00 d. $59.92 A business operated at 100% of capacity during its first month, with the following results: The amount of contribution margin that would be reported on the varlable costing income statement is a. $26,200 b. 529.700 c. $34,200 d. $20,200 Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 4,300 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. The total factory overhead for Bardot Marine Company is budgeted for the year at $324,750, divided into two departments: Fabrication, $193,500, and Assembly, $131,250. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboats require two direct labor hours in Fabrication and four direct labor hours in Assembly. The bass boats require one direct labor hour in Fabrication and one direct labor hour in Assembly. Each product is budgeted for 3,000 units of production for the year. If required, round all per unit answers to the nearest cent. a. Determine the total number of budgeted direct labor hours for the year in each department. Fabrication direct labor hours Assembly direct labor hours b. Determine the departmental factory overhead rates for both departments. FabricationAssemblyperdih c. Determine the factory overhead allocated per unit for each product using the department foctory overhead ollocotion rates Speedboat: Bass boat: per unit Ziegler Inc, has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: a. Determine the varrable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollac.) per unit Total fixed cost: b. Based on part (a), estimate the total cost for 1,570 units of production. Total cost for 1,570 units: Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are llsted below. All of the machine hours take place in the Fabrication Department, which has an estimated overhead of $84,000. All of the labo hours take place in the Assembly Department, which has an estimated total overhead of $72,000. Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs based on direct labor hours. The factory overhead allocated per unit of Dinks is a. $1950 b. 539.00 c. 577.00 d. $59.92 A business operated at 100% of capacity during its first month, with the following results: The amount of contribution margin that would be reported on the varlable costing income statement is a. $26,200 b. 529.700 c. $34,200 d. $20,200 Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 4,300 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. The total factory overhead for Bardot Marine Company is budgeted for the year at $324,750, divided into two departments: Fabrication, $193,500, and Assembly, $131,250. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboats require two direct labor hours in Fabrication and four direct labor hours in Assembly. The bass boats require one direct labor hour in Fabrication and one direct labor hour in Assembly. Each product is budgeted for 3,000 units of production for the year. If required, round all per unit answers to the nearest cent. a. Determine the total number of budgeted direct labor hours for the year in each department. Fabrication direct labor hours Assembly direct labor hours b. Determine the departmental factory overhead rates for both departments. FabricationAssemblyperdih c. Determine the factory overhead allocated per unit for each product using the department foctory overhead ollocotion rates Speedboat: Bass boat: per unit
