. (TCO 2) Bubba’s Crawfish Finalizing Company uses a traditional expense allocation based upon direct labor hours. Intended for the current yr overhead can be estimated at $2, two hundred fifty, 000 and direct labor hours happen to be budgeted by 415, 500 hours.
Genuine overhead was $2, 2 hundred, 000 and actual immediate labor hours worked were 422, 000. (a) Compute the predetermined overhead level. Rate, based on budgeted manufacturing plant overhead price and budgeted activity, that is certainly established prior to a period begins. 2, two hundred and fifty, 000/415, 500
Budgeted activity units found in the denominator of the solution, more often called the denominator level, will be measured in direct labor-hours, machine-hours, immediate labor costs, or production units. Visit our website: http://www. answers. com/topic/predetermined-overhead-rate#ixzz2NxCv9pKK (b) Calculate the overhead used. Applied cost to do business = predetermined overhead rate x actual direct labor (c) Determin Prorate the overhead difference to the ideal accounts 765 , 750 = difference of 15K Rate This kind of Answer elizabeth the amount of overhead that is over/under applied. installment payments on your TCO 2) Thibodeaux Limousine Corporation is attempting to determine a predetermined developing overhead. Predicted overhead pertaining to the forthcoming year is definitely $776, 500. Budgeted machine hours happen to be 105, 1000 hours, and budgeted labor hours happen to be 17, 500 hours for a price of $12. 00 hourly. Compute the predetermined over head rate based on: (a) Direct labor us dollars Labor level variance sama dengan (Actual several hours worked? Actual rate)? (Actual hours performed? Standard rate) Read more by http://accounting4management. com/direct_labor_rate_variance. htm#pqUTOT7ClOOtMr4F. 99 (b) Direct labor several hours (c) Machine hours several. TCO 1) List and briefly illustrate four from the five differences between bureaucratic accounting and financial accounting 4. (TCO 2)The subsequent information can be bought for Sappy’s Surgical Shears for the fiscal season ending Dec 31, 20XX. Beginning balance in Done Goods bucks 17, 000 Ending harmony in Completed Goods 15, 200 Beginning balance during working hours in Process 2, 500Ending balance at work in Method 1, 836 Selling bills 123, 500 General and administrative bills 89, 000Direct material cost 54, 500 Direct labor cost sixty six, 000 Developing overhead 21, 400 Sales 385, 000 Prepare a timetable of cost of goods manufactured.. (TCO 2) Match all the following half a dozen terms with the phrase that most closely explains it. Every answer listed below may be used only one time.
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installment payments on your ______ 1 ) activity-based priced at ______ installment payments on your cost of items available for sale ______ 3. period costs ______ 4. method costing system ______ 5. just-in-time program ______ six. work in process A) Costs assigned to the goods produced, also known as production costs (B) Materials costs that are not tracked directly to goods produced (C) System that seeks to minimize Raw Materials Products on hand and Operate Process Products on hand (D) Expense of items that happen to be completed and transferred from Work in Process Inventory to Finished Goods Inventory (E) Costs which might be identified with accounting intervals rather than with goods created (F) Actual overhead can be greater than cost to do business that has been applied to products (G) Method of determining overhead costs that uses multiple allocation basics (H) System that uses job-order bedding to collect costs for each specific job (I) Cost of almost all materials and parts that are directly followed to the products produced (J) Beginning balance in the Completed Goods Inventory plus cost of goods made (K) Expense applied to products is greater than the actual overhead costs incurred (L) Used by companies that generate large quantities of similar items (M) Cost of all manufacturing actions other than direct material and direct labor (N) Products on hand account made up of the cost of items that are just partially accomplished 6. (TCO 2) Far Out Ceramics akes custom macaroni tile and applies job-order costing. The subsequent information pertains to the financial year closing December 31, 20XX. Commencing balance in Raw Materials Inventory $ 12, 500 Buys of natural material 189, 000 Closing balance in Raw Materials Products on hand 14, 300Beginning balance at work in Process 24, five-hundred Ending stability in Work in Process twenty three, 100Direct labor cost 89, 700 Making overhead applied 66, 200 Actual manufacturing overhead 64, 100Beginning equilibrium in Finished Goods twenty eight, 900 Closing balance in Finished Goods 24, 300Sales 432, 000Selling expenses 120, 000 Basic and administrative expenses 86, 000 How much is cost of goods sold? 7. TCO 2) Match each of the six following terms together with the phrase that a lot of closely identifies it. Every single answer can be utilized only once. _____ 1 . Immediate costs _____ 2 . Fixed costs _____ 3. Pregressive costs _____ 4. Economic Resource Planning system _____ 5. Noncontrollable costs _____ 6. Option costs (A) Costs that increase or decrease in total in response to increases or perhaps decreases in the level of business activity (B) Costs that are directly traceable to a merchandise, activity, or perhaps department (C) Costs that the manager can influence (D) The difference in costs between decision alternatives (E) Costs incurred in past times that are not highly relevant to present decisions (F) Costs that cannot be influenced with a manager G) Financial ideas prepared by administration accountants (H) Value from the benefits foregone when 1 decision option is selected over another (I) Costs that can not be directly traced to a product, activity, or perhaps department and/or not well worth tracing (J) Costs which often not difference in total with changes in the amount of business activity (K) These types of systems prepare a master creation systems and everything the support across the company. (L) Allows companies and suppliers to share information to improve efficiency when you get inputs. (M) Allows customer data analysis and support, often in online structure for customers. eight. (TCO 3) The Marinade Department started out the period with 150, 000 units.
Throughout the period the department received another one hundred and eighty, 000 models from the previous department and at the end of the period 112, 000 models remained which were 17%complete. Simply how much are comparable units in The Marinade Department’s work in method inventory by the end of the period? (TCO 3) The Franc Zeppo Opportunity manufactures a product that goes through two processing departments. Information concerning the activity inside the first division during The spring is given beneath: Work in process, April one particular: 50, 1000 units (80% completed to get materials and 60%completed pertaining to conversion. Work in process, Apr 30: 45, 000 models (70% completed for supplies and 60%completed for alteration. 4. The department began 380, 1000 units into production during the month and transferred 385, 000 finished units to another department.
Compute and estimate the equivalent devices of production for the first division for The spring, assuming the organization uses the weighted-average technique of accounting intended for units and costs. 1 ) Question: (TCO D) A business that has a income can maximize its revenue by College student Answer: elevating sales earnings and operating expenses by same dollar amount. increasing common operating assets and operating expenses by the same dollar amount. increasing product sales revenue and operating bills by the same percentage. lowering average operating assets and sales by same percentage. Instructor Description: Chapter 12 2 . Problem: (TCO D) Given this data, what would ROI be?
Product sales $50, 000 Net operating income $5, 000 Contribution margin $20, 000 Typical operating property $25, 500 Stockholder’s collateral $15, 500 Student Response: 10% twenty percent 16. 7% 80% Teacher Explanation: Discover Chapter 12. ROI = Net working income as well as Average working assets = $5, 1000 / $25, 000 sama dengan 20. 0% 3. Problem: (TCO D) Given the next data: What is the go back on the expense (ROI)? Product sales $50. 1000 Net operating income $5, 000 Contribution margin 20 dollars, 000 Normal operating property $25, 500 Stockholder’s fairness $15, 000 Student Answer: 10% 20% 16. 7% 80% Trainer Explanation: RETURN ON INVESTMENT = Net operating cash flow / Average operating resources = $5, 000 as well as $25, 1000 = 20. 0%
