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Corresponds to CLO 4(b) Ferguson Molding Company produces custom bottle caps and jar covers for large cosmetic companies. Each customer owns the custom-made molds that are used for the caps and jar covers, so caps are produced only to customer order. Each order requires the setting of molds in molding machines. Two full time mechanics, whose combined total annual salary and benefits are $160,000 per year, are employed setting up and breaking down the molding machines. An order consists of anywhere from 50,000 to 500,000 units. 80 orders were received during the year 2008 for individual custom production runs. The total number of units produced was 8 million. If the company allocates the cost of the setup mechanics based on the number of units produced, the setup cost per unit in an order of 300,000 Nurturing Face Cream jar covers for Aristedes Cosmetics Company would be:
a $0.053 per unit
b $0.006 per unit
c $0.02 per unit
d $0, since this is an indirect cost and cannot be traced to the product in question
Pacheco, Inc., manufactures two products, overs and unders, in single process. The joint costs of this process were $50,000, and 14,000 units of overs and 36,000 units of unders were produced.
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To implement target costing for a new product, companies often set up a cross-functional team with members from engineering, marketing, and costing accounting. Why is a cross-functional team desirable when implementing the target costing approach..
Job costing, process costing. In each of the following situations, determine whether job costing or process costing would be more appropriate.
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