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!
Two-Stage Allocation and Product Costing
Mets Products produces baseball caps and T-shirts. Most of the production is done by machine. Data on operations and costs for October follow:
Baseball Caps
T-Shirts
Total
Units produced
10,000
5,000
15,000
Machine-hours used
1,000
800
1,800
Direct labor-hours
200
120
320
Direct materials costs
$12,000
$8,000
$20,000
Direct labor costs
$ 4,000
$2,400
$ 6,400
Manufacturing overhead costs
$22,200
Management asks the firm's cost accountant to compute product costs. The accountant first assigns overhead costs to two pools: overhead related to direct materials and overhead related to machine hours. The analysis of overhead accounts by the cost accountant follows:
Account
Amount
Related to:
Utilities
$4,000
Machine-hours
Supplies
2,800
Materials
Machine depreciation and maintenance .
8,800
Purchasing and storing materials
3,200
Miscellaneous
3,400
Required
a. Compute the predetermined overhead rates assuming that Mets Products uses machine-hours to allocate machine-related overhead costs and materials costs to allocate materials-related overhead costs.
b. Compute the total costs of production and the cost per unit for each of the two products for October.
Determine the quick ratio for both companies and Interpret the quick ratio difference between the two companies.
1) The profession of tax practice involves four principal areas of activity. Discuss these four areas. 2) Tax Rates. Latesha, a single taxpayer, had the following income and deductions for the tax year 2013: INCOME: Salary $60,000 Business Income 25,..
Indicate whether each of the following costs is a product cost or a period (selling and administrative) cost.
Included in operating expenses is a $24,000 loss resulting from the sale of machinery for $270,000 cash. Machinery was purchased at a cost of $750,000. The following balances are reported on Kosinski's comparative balance sheet at December 31.
Ethical Issues Surrounding Activity-Based Costing and What ethical issues do you see in this scenario? How would you resolve them?
BT's absorption costing Income Statement for the month ended and reconcile and explain the difference between BT's Variable and Absorption Net Operating Income.
What is Brenda's basis(stock and/or debt) at the end of 2013?
Calculate the unit cost for each product using direct labour hours as the basis for applying overhead and calculate the unit cost for each product using activity-based costing (ABC).
Prepare a statement of cash flows for JEM Company for the year ended December 31, 2003. Use the indirect method to report cash flows from operating activities.
What are the estimated direct materials, direct labor, variable overhead, and fixed overhead costs for year 2 - Determine the total costs per billable hour for year 1 and year 2.
prepare a written assignment to address the following objectives 1. explain through a real world example of how
Calculate the unit cost if the rejection is attributable to exacting specifications and calculate the unit cost if the rejection is characteristic of the production process
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