Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Enterprises, Inc.'s principal product is a hammer that carries a lifetime guarantee. Cost and production data for the hammer follow. Direct materials: Anodized steel: 1 kilograms per hammer at $2 per kilogram Leather strapping for the handle: 0.5 square meter per hammer at $4 per square meter Direct labor: Forging operation: $24 per labor hour; 6 minutes per hammer Leather-wrapping operation: $20 per direct labor hour; 12 minutes per hammer Overhead: Forging operation: rate equals 40 percent of department's direct labor dollars Leather-wrapping operation: rate equals 60 percent of department's direct labor dollars In October, November, and December, Enterprises expects to produce 108,000, 104,000, and 100,000 hammers, respectively. The company has no beginning or ending balances of direct materials inventory or work in process inventory for the year. Required
Question 1. For the three-month period ending December 31, prepare monthly production cost information for the hammer. Classify the costs as direct materials, direct labor, or overhead, and show your computations.
Question 2. Prepare a cost of goods manufactured budget for the hammer. Show monthly cost data and combined totals for the quarter for each cost category.
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
Evaluate the Predetermined Overhead Rate
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Complete the schedule to compute the pool rates for the different activities.
Prepare Company financial statements
This individual assignment is based on the TerraCycle Inc.
Discuss the ethical issues
Calculate the GDP in Income Approach and Expenditure Approach
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd