Reference no: EM131055084
6-34
Luke's Lubricants starts business on January 1. The following operations and data are available for January for the one lubricants it produces:
|
Beginning Inventory
|
Gallons
|
|
Beginning Inventory
|
0
|
|
Started in January
|
900,000
|
|
Ending work-in-process inventory(80% complete)
|
100,000
|
Cost s incurred in January follow:
Materials $564,000
Labor 145,200
Manufacturing Overhead 294,000
All production at Lukes is sold as it is produces(there are no finished goods inventories).
Requires
a. Compute cost of goods sold for January
b. What is the value of work-in-process inventory on January 31
6-39
Tiger furnishing produces two models of cabinets for home theater components, the Basic and the Dominators. Data on operations and cost for March follow:
|
|
Basic
|
Dominator
|
Total
|
|
Units Produce
|
1,000
|
250
|
1,250
|
|
Machines on hours
|
4,500
|
2,500
|
7,000
|
|
Direct labor hours
|
3,000
|
2,000
|
5,000
|
|
Direct material cost
|
$10,000
|
$3,750
|
$13,750
|
|
Direct labor cost
|
64,500
|
35,500
|
100,000
|
|
Manufacturing overhead cost
|
|
|
175,000
|
|
Total cost
|
|
|
$288,750
|
Required
Compute the predetermine overhead rate assuming that Tiger Furnishing use direct labor-hours to allocate overhead cost
6-40
Refer to the data in Exercise 6-39. Compute the predetermine overhead rate assuming that Tiger Furnishing use direct labor cost to allocate overhead cost
6-41
Refer to the data in Exercise 6-39. Compute the predetermine overhead rat assuming that Tiger Furnishing uses machine-hours to allocate overhead cost
6-46
Refer to the data in Exercise 6-39. Compute the individual product cost per unit assuming that Tiger Furnishing uses direct labor cost to allocate overhead to the products
|
Average risk investment in a mineral water spring project
: The Rodriquez Company is considering an average risk investment in a mineral water spring project that has a cost of 150,000. The project will produce 1,000 cases of mineral water per year indefinitely, the current sales price is $138 per case and th..
|
|
Critique of two project management planning tools
: How the tools you selected might aid your understanding and experiences with managing projects - How the tools might make managing projects more challenging.
|
|
How to assess the risk and mitigate it
: Risks that startup businesses face and how to assess the risk and mitigate it. The paper should be 1500 words double spaced. List all references used.
|
|
Tiger furnishing produces two models of cabinets
: Luke's Lubricants starts business on January 1. The following operations and data are available for January for the one lubricants it produces:
|
|
Manufacture a new line of video game consoles
: Madela's entertainment system is setting up to manufacture a new line of video game consoles. The cost of the manufacturing equipment is $1,750,000. Expected cash flows over the next four years are $725,000, $850,000, 1,200,000 & $1,500,000. Given th..
|
|
Market for ethanol in australia
: What impact does the federal government's subsidy of 38 cents per litre on ethanol production have on the market for ethanol in Australia? Will the producers of ethanol necessarily be 38 cents per litre better off because of the subsidy?
|
|
Expected to pay annual dividends that are expected to grow
: Common stock of Fairfax Paint is currently priced at 80.59 dollars per share. The stock is expected to pay annual dividends that are expected to grow by 2.76 percent forever. The next dividend is expected in 1 year and the expected annual return for ..
|
|
What is internal growth rate
: What is internal growth rate for 2015?? Balance Sheet 2015 2014 2015 2014 Cash $ 32,300.00 $ 46,900.00 AP $ 58,900.00 $ 61,200.00 AR $ 50,700.00 $ 58,300.00 Notes Payable $ 20,000.00 $ 30,000.00 Inventory $ 70,500.00 $ 75,800.00 Long-Term Debt $ 134,..
|