please dont provide answer in image format thank you perQ-2) Company X produces audio equipments in its factory. Raw materials cost for an audio system is TL80 per unit.Workers on the production lines are paid TL19 per hour. An audio system takes 6 hours to complete. In addition,the rent on the equipment used to assemble audio systems amounts to TL5,900materials cost TL5 per unit produced. A supervisor was hired to oversee production and her monthly salary ismonth. MiscellaneousTL3,000. Factory janitorial costs will be TL1,500 per month. Local TV and radio channels will charge TL9,800 foradvertisements per month. The factory building depreciation expense per year will be TL7,100, and factoryproperty tax is TL12,000 per year. Material handling costs in the factory are expected to be around TL160 permonth. Calculate unit production cost if the monthly production level is 1,510 units.

The unit cost is computed by dividing the total manufacturing costs by the total production unit. It…

Answered: Q-2) Company X produces audio…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 2PA: York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of...

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York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of direct labor. The cost to make job 0325 is $70 in aluminum and two hours of labor at $20 per hour. During the month. York incurs $50 in indirect material cost. $150 in administrative labor, $300 in utilities, and $250 in depreciation expense. What is the predetermined overhead rate if direct labor hours are considered the cost driver? What is the cost of Job 0325? What is the overhead incurred during the month?
What is the amount to be charged to Manufacturing Overhead Control account? Four factory workers and a supervisor make a team in the Machining Department. The supervisor earns P100 per hour, and the combined hourly charge of the four workers is P320. Each employee is entitled to a 2-week paid vacation and a bonus equal to 4 week's wages each year. Vacation pay and bonuses are treated as indirect costs and are accrued over the 50 week work year. A provision in the union contract does not allow these employees to work in excess of 40 hours per week.
The overhead expenses of a factory are allowed on the machine hour method. You are required to calculate the hourly rate for a certain machine from the following information: Cost 58,000 3,000 Estimated scrap value Estimated working life 20,000 hours ₹12,000 Estimated cost of maintenance during working life of machine Power used for machine. 1 per hour Rent, rates etc. per month (10% to be charged for this machine) 1,500 Normal machine running hours during a month 180 hours Standing charges other than rent, rates etc. per month 200 [Ans: 6.30]
Consider zagol manufacturing which is engaged in the manufacturing of product ABC. To produce one unit of the product the company incurs the following costs: Direct material ______$5/kg Direct labor_________$10/hour Total Manufacturing overhead __________________$30000 The company produces a total of 10000 units per month. And the actual price the product is sold is around $24. Company XYZ offers to buy a total of 5000 units this month at the price of $ 17/unit. Would you accept the order if you are the manager? (assume 20% of the manufacturing overhead is variable cost). 1.Describe the basic financial statements , their purpose and their importance to various internal and external users. Clearly discuss which users are most interested in which financial statement and why. 2. Form question one above considering all the manufacturing costs are fixed calculate the Breakeven point both in unit and quantity using the contribution and equation approach. How many units is the company…
Example Ltd is a manufacturer. It produced 2,000 units in April. The following cost information is available: Advertising costs: $6,000 per month Depreciation on factory equipment: $3,000 per month Factory supervisor salary: $20,000 per month Metal used in the product: $10 per unit Research and development: $8,000 per month Wages of manufacturing equipment operators: $8 per unit Assume any materials used in production is direct material. What is the total conversion costs for Example Ltd in April? 39,000 36,000 20,000 14,000
Alton Company produces metal belts. During the current month, the company incurred the following product costs: Raw materials: $100,000 Direct labor: $75,000 Electricity used in the Factory: $25,000 Factory foreperson salary: $3,750 Maintenance of factory machinery: $2,000 Alton Company's total product costs is: A. $175,000. B. $30,750. C. $205,750. D. $28,750.
2.) American Girl Doll Furniture Makers has collected the following cost information regarding its production process. Cost information gathered from March is presented in the table below. Cost incurred Molt Plant supervisor salary DM Lumber DL Assembly worker wages MOH Lease on factory Cost behavior FC VC vc FC March cost $12,000 per month $75,000 VC VC $16 per hour $15,000 per month In March, the company produced 1,000 units and used 2,000 hours of production labor. Requirement 1: Fill in the blank column with the appropriate cost behavior for the item listed. Requirement 2: In April, the company anticipates it will produce 1,500 units. Given this information, $ 187,500 what do you predict their total product costs to be?
Product A is produced with the following costs: 1) Paper material P20 per unit 2) Plastic P15 per unit 3) Rubber P27000 per 12000 units. 4) Labor P4 per unit 5) Indirect material costs P2.5 per unit The company pays P60,000 for rent per month for factory. It depreciates a P300,000 vehicle used for delivery and a P210,000-machine used for manufacturing, both have a life of 5 years. a. How much should be the total overhead costs if in a month, 1000 units were produced? b. How much should be the direct material costs if in a month, 1,500 units were produced? c. How much is the total conversion cost if 3,000 units are produced? d.How much is the total product cost per unit if in a month of production 4,750 units were produced? e. How many units should be sold in a month to break even?
Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. A. Wood used to produce desks ($125.00 per desk) B. Production labor used to produce desks ($15 per hour) C. Production supervisor salary ($45,000 per year) D. Depreciation on factory equipment ($60,000 per year) E. Selling and administrative expenses ($45,000 per year) F. Rent on corporate office ($44,000 per year) G. Nails, glue, and other materials required to produce desks (varies per desk) H. Utilities expenses for production facility I. Sales staff commission (5% of gross sales)
Blend It Rite Inc. assembles and sells electric mixers. All parts are purchased and labor is paid on the basis of P22 per mixer assembled. The cost of the parts per mixer totals P20. As the company handles only this one product, the unit cost basis for applying factory overhead is used. Estimated factory overhead for the coming period, based on a production of 40,000 mixers, is as follows: ....Indirect materials >P60,000 .....Indirect labor >P180,000 .....Light and power >P45,000 ....Depreciation>P35,000 ...Miscellaneous >P16,000 . During the period, 42,000 mixers were assembled and actual factory overhead was P355,000. These units were completed but not yet transferred to the finished goods storeroom. Determine the amount of (over) or underapplied factory overhead.
Angler Industries produces a product which goes through two operations, Assembly and Finishing, before it is ready to be shipped. Next year's expected costs and activities are shown below. Assembly 248,888 DLH Finishing 154,000 DLH 68,000 MH 448,800 MH $440,000 Direct labor hours Machine hours Overhead costs Assume that Angler Industries allocates overhead using a plantvide overhead rate based on machine hours. How much total overhead will be assigned to a product that requires 1 direct labor hour and 3.90 machine hours in the Assembly Department, and 4.00 direct labor hours and 0.6 machine hours in the Finishing Department? Multiple Chaises O O O $21.50 $17.60 $2.00. $18.10 $ 677,680 $13.20.
Aaron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming year to be $760,000 and $500,000, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 16,000 hours and 5,000 hours, respectively. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.) OA. $1.52 per labor hour OB. $100.00 per machine hour OC. $152.00 per machine hour O D. $31.25 per labor hour

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