Reference no: EM133138640
Question - Ore Co. makes custom metal landscaping pots. After an order is made and the custom pots are designed, the metal is cut to the design specifications using a large metal laser cutter in the Cutting Department. Then, the cut metal is transferred to the Welding Department where the metal is shaped and welded. The assembled landscaping pot is then transferred to the Finishing Department for polishing and painting. Upon completing in the Finishing Department it is sent to finished goods inventory until sold and shipped. Ore Co. uses a full absorption, normal, weighted average process costing system.
Ore allocates variable and fixed overhead in the Welding Department on the basis of direct labor costs in the Welding Department. As of March 1, 2021, the Welding Department estimated that it would use $50,000 of direct labor during the month; it actually used $60,000 of direct labor. As of March 1, 2021, the Welding Department estimated that it wouldspend $60,000 on variable overhead and $96,000 on fixed overhead during the month.
For the month ended March 31, 2021, the Cutting Department transferred cut material to make 300 units to the Welding Department during March. The Welding department paid the cutting department costing $150,000 for that cut material.
As of March 1, 2021, the Welding Department had 100 partially completed pots and firepits on hand. The cost of these 100 partially completed pots and fire pits in the Welding Department is:
Beginning Balance March 1, 2021:
Costs transferred in from Cutting Department $24,000
Direct Materials $ 4,000
Direct Labor $ 8,250
Variable Overhead $ 3,900
Fixed Overhead $ 6,000
As of March 31, 2021, the Welding Department had 100 partially welded pots on hand. These 100 partially welded pots are 80% complete with respect to direct materials, 50% complete with respect to direct labor.
Actual cost data for the Welding Department from March 1st to March 31st 2021 are:
Direct materials cost $ 8,000
Direct labor cost $ 60,000
Variable overhead $ 55,000
Fixed overhead $104,000
Using the weighted average method, what is the normal, full absorption cost per equivalent unit for March 2021 for the Welding Department?
Prepare spreadsheet containing relevant pension information
: Jones Manufacturing Inc. sponsored a defined benefit pension plan effective 1 January 20X7. Prepare spreadsheet containing relevant pension information
|
Critically analyse the role of business intelligence
: create value by Business Intelligence implementation, adoption and use, and identify appropriate approaches to address this topic.
|
Journalize the adjustable events of Nuke Inc
: On December 31, 20x9 Nuke had receivable from a large customer in the amount of P4,000,000. Journalize the adjustable events of Nuke Inc
|
Was the bond issued at a discount or at a premium
: Imai Company issued a $1.255 million bond that matures in five years. Was the bond issued at a discount or at a premium
|
What is the normal, full absorption cost per equivalent unit
: Using the weighted average method, what is the normal, full absorption cost per equivalent unit for March 2021 for the Welding Department
|
What is the APR on the loan
: Question - You have applied for a 5-year loan of $50,000 with an interest rate of 6.5% and monthly payments. What is the APR on the loan
|
What is the net gain or loss rose will claim on her schedule
: Received 200 extra shares of DEF in stock split $800 fair market value. What is the net gain or loss Rose will claim on her Schedule D
|
What tax effect does the nol have on his tax return
: In 2017, Slice-It Pizza reported revenues of $600,000 and deductions of $410,000, What tax effect does the NOL have on his tax return
|
Case Study - Credit Card Default Prediction
: How does a CDP differ from CRM, DW and Data Lakes - How does CDP feed into my marketing automation tools
|