E. Pencils and erasers. 2. The Goods in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $4,400 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $2,000 and direct labor cost of $800. Therefore, the company's overhead application rate is: A.
1) What is Panera Bread’s strategy? Which of the five generic competitive strategies discussed in Chapter 5 most closely fit the competitive approach that Panera Bread is taking? What type of competitive advantage is Panera Bread trying to achieve? Panera Bread’s aims to use a focused differentiation strategy to provide “quick-casual” meals to a target market comprised mainly of urban workers and suburban dwellers. Through the focused differentiation strategy, Panera Bread offers signature baked goods, sandwiches, and soups to satisfy the specific tastes and requirements better than their closest rivals, namely healthy and intriguing meal choices in a trendy yet comfortable dining setting.
Job 655 was recently completed. The following data has been recorded on its job cost sheet: Direct materials $ 78,000 Direct labor costs 45,000 Number of units completed 4,000 The company applies manufacturing overhead on the basis of direct labor costs. The predetermined overhead rate is 75% of direct labor costs. Required: Compute the unit product cost that would appear on the job cost sheet for this job: Cost Summary: Direct Materials $ 78,000 Direct Labor 45,000 Manufacturing Overhead 33,750 ( $45,000 X 75%) ---------- Total Cost $ 156,750/Units Completed 4,000 = Unit Product Cost = $ 39.19 5. Prepare the necessary journal entries from the following information for Kingston Company: a.
• debit to Allowance for Doubtful Accounts for $3,300. Multiple Choice Question 182 The financial statements of the Melton Manufacturing Company reports net sales of $300,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days? • 60.8 • 96.1 • 36.5 • 48.7 Find the final exam answers here ACC 291 Final Exam Answers Multiple Choice Question 119 Stine Company purchased machinery with a list price of $64,000. They were given a 10% discount by the manufacturer.
Required start-up material is 3,700 pounds at $ 2.70 per pound = $9,990.00 5. Company labor for installation requires two maintenance specialists for two days at eight hours per day and $ 35 per hour = $1,120.00 6. Contract labor is estimated at a fixed price of $ 7,500.00 7. Engineering is estimated to be 15% of (equipment / material) cost based on past experience = 10,678.50 8. Inspection is estimated to be 3% of (labor) cost based on past experience = 258.60 9.
C. Contribution margin. D. Relevant range. E. Margin of safety. Problem ( 60 Points ) SHOW ALL WORK!!!!!!!! A company manufactures a product and sells it for $120 per unit.
It includes the indirect cost pools, the cost-allocation base, the cost objects (our products), and the direct costs: Engineering $100,000 Maintenance $30,000 Depreciation $270,000 Packaging/ Shipping $60,000 Receiving and handling $220,000 Exhibit 1 30 Transactions 10,800 Machine Hours 10,800 Machine Hours 129 Transactions each 100% work orders $1,705.43 per 20% valves $2.78 per hour $25 per hour $2,000 per Transaction 30% pumps transaction 50% flow controllers Indirect Costs Direct Costs Set-up Labor Direct Labor Direct Materials Exhibit 1 shows the different cost pools, the direct costs, and their cost drivers. The cost pools are receiving and handling, engineering, maintenance, depreciation, and packaging and shipping. These are driven by how many transactions take place, the machine hours used, and
Analysis of Wilkerson Company First let’s break down some of the March costs into individual activity (non-aggregate) costs based on the given production volumes from March. Setup Labor | $ 40,000.00 | | Machine-related expenses | $ 336,000.00 | Setups | 160 | | # of machine hours | 11,200.00 | Cost per Setup | $ 250.00 | | Cost per machine hour | $ 30.00 | | | | | | Packaging and shipping | $ 150,000.00 | | Engineering costs | $ 100,000.00 | Number of Shipments | 300 | | number of engineering hours | 1,250.00 | Cost per Shipment | $ 500.00 | | cost per engineering hour | $ 80.00 | Now I will divide costs up into direct costs at the unit level and overhead costs at the activity level and plug the figures from the Exhibits into a grid to determine the costs and margins per production unit. | | Valves | Pumps | Controllers | Direct Costs per Unit | Direct Labor cost per unit | $ 10.00 | $ 12.50 | $ 10.00 | | Maintenance cost per unit | $ 16.00 | $ 20.00 | $ 22.00 | | Machine cost per unit | $ 15.00 | $ 15.00 | $ 9.00 | | (Machine hrs. * cost per machine hr.) | | | | | Direct Costs per Unit | $ 41.00 | $ 47.50 | $ 41.00 | | Units | 7,500.00 | 12,500.00 | 4,000.00 | | | | | | Overhead costs per Activity | Overhead Costs per Activity | | | | | Engineering Costs | $ 20,000.00 | $ 30,000.00 | $ 50,000.00 | | (Engineering hrs.
Let x be the number of total hours. The equation which represents the cost per week for over 40 hours of care: h = 10(x-40) + 270 Hours | Cost | | Hours | Cost | 1 | 7 | | 1 | 270 | 2 | 14 | | 2 | 270 | 3
Learning Team “A” Week Two Exercises Students Names ACC/400 Date Teacher’s Name * E7-2 * Identify the six principles of internal control and give an example of each principle that you might observe when picking up your pizza. (Note: It may not be possible to observe all the principles.) * * The six principles of internal control are: * 1. Establishment of Responsibility: In order to be most effective, only one individual should be responsible for a given task. In the scenario, one individual “a clerk” handles the cash, so if any shortages occur one can quickly assess who is responsible for the shortage.