Define machine-hour for indirect materials cost

Assignment Help Cost Accounting
Reference no: EM131730536

Goy Corporation's flexible budget performance report for last month shows that actual indirect materials cost, a variable overhead cost, was $28,194 and that the variance for indirect materials cost was $1,887 unfavorable. During that month, the company worked 11,100 machine-hours. Budgeted activity for the month had been 11,200 machine-hours. The cost formula per machine-hour for indirect materials cost must have been closest to:

A) $2.69
B) $2.71
C) $2.35
D) $2.37

Reference no: EM131730536

Questions Cloud

What resources will you need in order to implement training : You have been asked to provide training to co-workers at your organization or company. The training has to do with your current job.
Explain the pooled or unpooled test : Example presented data from a study in which sedentary men were randomly assigned to be placed on a diet or exercise for a year to lose weight.
Developing countries are critical of the trips agreement : QUESTION 1. Poor developing countries are critical of the TRIPS agreement for all but which one of the following reasons?
Write a detailed aim planning document : Write a detailed AIM planning document and devote at least five paragraphs to analyzing your audience, developing your ideas,
Define machine-hour for indirect materials cost : The cost formula per machine-hour for indirect materials cost must have been closest to
Develop an outline of the project plane for the testing : Develop an outline of the project plane for the testing.
Do students sleep more in pennsylvania or in california : Do students sleep more in Pennsylvania or in California? Data from surveys in elementary statistics classes at Penn State University and the University.
Which are benefit was conferred to the other party : Quasi-contract includes 4 elements, which are benefit was conferred to the other party; party conferring the benefit reasonably expected to be paid;
Discuss the bonnie and clyde untrustworthy bank : Make the journal entries on the books of the Lost in Woods Trading Company

Reviews

Write a Review

Cost Accounting Questions & Answers

  Which product costing method produces more competitive bid

Determine the amount of overhead that would be allocated to the proposed job if 40,000 direct labor-hours are used as the volume-based cost drive.

  Provide an unadjusted trial balance for 2013 and 2014

Describe any difference between recording KLP's equipment and KLP's supply accounts. Why is it important to make this distinction

  Construct company manufacturing overhead budget

Company C's variable manufacturing overhead rate is $2.00 per direct labor-hour and the company's fixed manufacturing overhead is $40,250 per quarter. The only non-cash expense included in the fixed overhead is depreciation of $12,000 per quarter.

  Prepare the journal entry necessary

Prepare the journal entry necessary on December 31, 2014 if the company estimates that bad debt expense should be 2% of net credit sales.

  Results in the concurrent budget resolution

The Department of Defense moved funds from the Overseas Contingency Transfer Account to the Army's Military Personnel appropriation to cover extra costs associated with deploying troops unexpectedly to Afghanistan.

  Calculate ending balance of the operating overhead account

Determine the cost of each job. Indicate the balance of the Service Contracts in Process account at the end of November. Calculate the ending balance of the Operating Overhead account for November.

  Calculate the safety stock quantities and the inventory cost

Calculate the safety stock quantities and the inventory cost associated with safety stock (based on the item unit cost) for the inventory items at four different service levels (50%, 80%, 90%, and 95%).

  Discuss what should be the carrying amount of this leasehold

In Nobb's December 31, year 3 balance sheet, what should be the carrying amount of this leasehold improvement

  Explain is depreciation a source of cash flow

Murphy is preparing for a meeting with her banker. Her business is finishing its fourth year of operation. In the first year, it had negative cash flows from operation. In the second and third years, cash flows from operations were positive.

  Compute the accounts receivable turnover in 2015

Compute the ratios Add-test ratio at 12/31/15, Accounts receivable turnover in 2015 and Inventory turnover in 2015

  How changes in the cost driver affect the total amount

Explain how changes in the cost driver affect the total amount of fixed inspection cost and how much of the experts salary should be allocated to tents produced in January and February?

  Method for costing all inventories

First-in-first-out method for costing all inventories. On the basis of the preceding data, prepare the following budgets for the budget meeting in October 2014:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd