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Product Costing Review
Mad Dog Enterprises manufactures computer game control devices like joysticks and steering wheels. Following is the list of the costs incurred by Mad Dog in 2009:
Wages paid to assembly workers . . . . $100,000Cost of plastic used in making devices . . . 25,000Insurance on factory building . . . 12,000Salary of factory supervisor . . . . 57,000Interest on money borrowed to finance operations . . . 34,000Wages paid to factory maintenance workers . . 61,000Cost of computer/controller boards installed in devices . . . . . 38,000Advertising costs . . . . . . . . . 127,000Cost of electricity used in factory . . . . 46,000
Compute the total cost for each of the following categories:
1. Direct materials
2. Direct labor
3. Manufacturing overhead
4. Period costs
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What is the effect of target costing and value engineering on the use of variances?
Explain verbally and graphically how the socially efficient amount of this good can be provided for them. Explain each term used in your answer.
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When using a normal costing system, manufacturing overhead is applied using the ______________ manufacturing overhead rate and the _______________ quantity of allocation base.
Babbel Company is a manufacturing firm that uses the job-order costing. The company's inventory balances were as follows the the beginning of the year
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