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ShipShape Company makes 2 different types of boats, commercial fishing and sail boats both for recreation and competition. The company consists of two different departments, design & engineering, and production. The company has decided to allocate overhead costs in each of the two costs pools. Data on estimated overhead follows:Activity Driver Estimated Overhead Cost Sailboat Estimate Fishing EstimateProduct Design # of designs $180,000 22 designs 18 designsProduction Labor hours $945,000 4,000 hours 3,500 hoursIf the company produces and sells 22 sailboats, and each sailboat requires 180 labor hours, how much overhead will be assigned to each sailboat produced?A $27,180B $22,680C $36,900D $32,400
Product Versus Period Costs Another way to look at manufacturing costs is to think of them as attaching to a product. In other words, goods result from the manufacturing proces
Give Annual report project: You will pick a publically trade company to do the analysis on with approval of the professor . the following is an outline of what should be in th
Describe the concept of full cost recovery with illustrative examples.
A company constructs a building for its own use. Construction began on January 1 and ended on December 30. The expenditures for construction were as follows: January 1, $550,000; M
in process beg and ending
Process Losses Most manufacturing processes result in several portion of the raw materials utilized not being transformed into a reliable half losses. These losses may take t
Comparison between Absorption and Marginal Costing Marginal Costing like a cost accounting system is considerably different from absorption costing. It is an optionally metho
Loring Company had the following data for the month: Variable costs per unit: Direct Materials $4 Direct Labor 3.20 Variable Overhead 1 Variable selling expense 0.40 Fixed Ov
(i) Describe the difference between the balance sheet and the income statement in financial statements of companies. (ii) Give two examples of intangible assets and two exampl
The balance sheet and income statement for Bingle Ltd is presented to you as follows: Balance Sheet Extract as at 30 June 2012 with comparatives
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