Reference no: EM13335290
Practice 1:
Refer to the data from Butler Company's Finishing Department.
|
Butler Company's Finishing Department
|
|
Quantity
|
|
|
Work in Process - Beginning
|
50
|
|
Transferred In From Assembling Department
|
1420
|
|
Transferred Out to Finished Goods
|
|
|
Work in Process - Ending
|
400
|
|
Stage of Completion of Ending Work in Process
|
|
|
Materials
|
complete
|
|
Labor
|
70%
|
|
Factory Overhead
|
80%
|
a) How many units were transferred to Finished Goods?
b) What are the equivalent production units for materials, labor, and factory overhead, respectively, in the ending Work in Process?
c) If costs transferred from the Assembling Department totaled $85,200; beginning work in process in the Finishing Department totaled $3,100 ( materials, $2,000; labor, $600; overhead, $500) ; and Total Costs to Be Accounted For are $100,000, what were the costs for the Finishing Department in the current month?
d) Assume that materials costs incurred in the current month in the Finishing Department total $5,938. What is the unit cost of materials in the Finishing Department?
e) Assume that labor costs incurred in the current month in the Finishing Department total $4,530. What is the unit cost of labor in the Finishing Department?
Practice 2:
Brock Company makes two joint products from a single process. It allocates the common costs on the relative sales value basis. During processing in June, 150,000 units of HR2 were produced and 50,000 units of MX1 were produced. HR2 sells for $.40 per unit and MX1 sells for $.80 per unit. The common cost in June was $40,000. Calculate the per unit and total joint cost to be allocated to each product.
Practice 3:
The standard labor cost for a unit of product is $20 per unit, based on 2 hours of labor per unit at an hourly rate of $10. During August 2007, 4,000 units were manufactured at a total labor cost of $80,580, representing 7,900 hours at a rate of 10.20 per hour.
a) The labor rate variance for the month is:
b) The labor efficiency variance is:
c) A company has established labor standards based on goals that could be attained only under perfect operating conditions. These standards are referred to as
Practice 4:
Give the journal entry to charge standard overhead costs to work in process and record overhead variances for the month given the following information:
Actual overhead $21,580 Standard overhead $20,000
Volume variance $2,080 U Spending variance $150 U
Efficiency variance $650 F
|
Explain a gaseous mixture of o2 and n2 contains nitrogen
: A gaseous mixture of O2 and N2 contains 39.8\% nitrogen by mass. What is the partial pressure of oxygen in the mixture if the total pressure is 385mmHg
|
|
Is it possible for society to over-invest in this type
: In what way is a college degree a form of capital? What is the opportunity cost of investing in this type of capital? Is it possible for society to over-invest in this type of capital? Explain.
|
|
Explain the pressure values numerically in atmospheres
: Express the pressure values numerically in atmospheres, separated by commas. Enter the partial pressure of methane first, then ethane, then propane.
|
|
Explain the impact of china, as an emerging economy
: Explain the impact of China, as an emerging economy, on the global economy today. How is the U.S. economy affected by monetary policy in China and the current USD/yuan exchange rate?
|
|
How many units were transferred to finished goods
: How many units were transferred to Finished Goods and what are the equivalent production units for materials, labor, and factory overhead, respectively, in the ending Work in Process?
|
|
Branding identify a relatively new product category
: BrandingIdentify a relatively new product category
|
|
How much should be deposited now
: An individual wishes to deposit an amount of money now and $100 every six months so that at the end of five years $1,500 will have been accumulated. With interest at 4% per year, compounded semiannually, how much should be deposited now?
|
|
Define filter done with warm water instead of ice cold water
: How would the % yield of aspirin be changed if the final rinse of the solid product on the filter paper was done with warm water instead of ice cold water
|
|
What is the income elasticity of demand for rainbow sandals
: Consider the market for rainbow sandals. Suppose average household income increases from $44,000 per year to $61,000 per year. As a result, the demand for rainbow sandals increases from 427 to 535.
|