User Account

All Pages

How much is the unit cost of the finished products

Assignment Help Cost Accounting
Reference no: EM133129911

Question 1 - Victory Manufacturing Company produces a variety of products. The firm operates 24 hours per day with three (3) daily work shifts. The first shift workers receive regular pay. The second shift workers receive 10% pay premium and the third shift workers receive 20% pay premium. In addition, the firm pays an overtime (OT) premium of 30% based on the regular rate.

Actual payroll for the month of August 2022 follows:

Total wages 16,000 hours P?

Wage rate per hours First shift P80

Total regular hours worked (spread equally) 15,000 hours

How much is the total amount of payroll for the period?

Question 2 - SONA Co. received an order for 1,000 units of item AY-14. Because of the order's exacting specifications, it is anticipated that defective and spoiled work will exceed the normal rate. The materials cost per unit is P140; labor cost, P200; and factory overhead for this order is to be applied at 80% of the labor cost. During production, 150 units were found to be defective and required the following total additional costs; materials, P3,000, labor, P7,500 and factory overhead at 80% of direct labor cost. On final inspection, 50 units were classified as seconds and sold for P200 each, the proceeds being credited to the order. The customer has agreed to accept the good units.

How much is the unit cost of the finished products?

Reference no: EM133129911

Questions Cloud

Effect of increased money supply on interest rate : Explain why the effect of increased money supply on interest rate is ambiguous according to Milton Friedman.
Face value will be paid at the end of the maturity : If the interest rates is 20%, what is the Present Value of a security that has a face value of $8640, maturing in 3 years, and pays out $1800 a year from now, $
Implement a customer journey mapping process : Design and implement a customer journey mapping process, persona creation and measurement metrics - Evaluate and propose organisational CX performance metrics
Explain the attractive store of value : (a) Why are people willing to hold money even if it is not the most attractive store of value compared to other types of assets?
How much is the unit cost of the finished products : SONA Co. received an order for 1,000 units of item AY-14. How much is the unit cost of the finished products
Experience of the audience and community : In what ways does the contoller of distribution affect the shared experience of the audience and community? Community meaning local and global.
Enjoying near total dominance in the market : This case study focuses on the pay-for-viewing TV (Pay TV in short) industry in Australia.
Large gains in insurance coverage : One of the goals of the Affordable Care Act (ACA) was to increase insurance coverage in the United States. This was accomplished through a variety of policies:
Determine the optimal number of units to put in a package : A monopoly is considering selling several units of a homogeneous product as a single package. Analysts at your firm have determined that a typical consumer's de

Reviews

Write a Review

Cost Accounting Questions & Answers

  Find the variable overhead efficiency variance

Other information included: actual wages paid $105,560; materials purchased $124,860; Find the variable overhead efficiency variance

  How much will the profit calculated using absorption costing

By how much will the profit calculated using absorption costing principles differ from the profit if marginal costing principles had been used?

  Alpha company manufactures products

Alpha Company manufactures products XX-1 and XX-2 from a joint process.

  What are the advantages of valuing assets at historical cost

What are the advantages and disadvantages of valuing assets and liabilities at historical cost? At market value? How did accounting standard-setters react to the derivatives-related failures of the 1990s?

  What would be the operating profit of company

What would be the operating profit of Company X if its production output for the year had been 110,000 units (equal to the number of units sold) instead of the 120,000 units production output level assumed in table?

  Find what is effect on share premium and retained earnings

What is the effect on share premium and retained earnings, respectively, of the purchase of treasury shares at an amount par value?

  Record the purchase in the? journal

Boltwood paid $265,000 in cash. Record the purchase in the? journal, identifying each? lot's cost in a separate Land account.

  Discuss effects of marginal costing and absorption costing

Prepare the budgeted income statement for financial year 2021 using the marginal costing method. Discuss the effects of marginal costing and absorption costing

  Prepare a complete statement of cash flows

Prepare journal entries for the selected transactions related to this company's stock during the current year and prepare a complete statement of cash flows for calendar-year 2011 using the indirect method

  What is the total cost, including purchase price

The annual consumption is 80,000 units, cost to place on order is P 1,200, What is the total cost, including purchase price of the inventory

  What is the adjustment for lost unit for each remaining good

In Baguio Corp, sixty percent of materials are added when the goods are ¼ done What is the adjustment for lost unit for each remaining good unit?

  Calculate the cost per unit and the gross profit per unit

Using the traditional system where overhead cost are allocated using Direct labor hours as the allocation base, determine the Allocation rate

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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