True False The job cost sheet is used in both job-order and process costing. True False Byklea Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 200 units. The costs and percentage completion of these units in beginning inventory were: A total of 7,000 units were started and 6,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 90% complete with respect to materials and 45% complete with respect to conversion costs.
A team of five laborers in Indonesia working in a garment factory divides the task of making men's dress shirts for export to the United States. Each laborer works 10 hours a day, six days a week, and is paid the Indonesian minimum wage of $2.50 per day. In one week, the team can make 500 shirts. The shirts sell for $40 each in the United States. The labor cost for each shirt is $.15.
All sales are made on account at $20 per unit. Sixty percent of the sales are collected in the month of sale; the remaining 40% are collected in the following month. Forecasted sales for the first five months of 20X2 are: January, 1,500 units,- February, 1,600 units; March, 1,800 units; April, 2,000 units; May, 2,100 units. 2. Management wants to maintain the finished goods inventory at 30% of the following month's sales.
We make 30,000 of these fire extinguishers per year. Each extinguisher requires one handle (assume a 300 day work year for daily usage rate purposes). Assume an annual carrying cost of $1.50 per handle; production setup cost of $150, and a daily production rate of 300. What is the optimal production order quantity? (4 points) Problem 4: We need 1,000 electric drills per year.
One of the stylists serves as the manager, receiving an extra $500 per month. In addition to the base salary, each stylist receives a commission of $6 per haircut. Each stylist can do as many as 20 haircuts a day, but the average is 14 haircuts each per day. The Cute Cut Salon is open an average of 24 days per month. Other financial information is as follows: (18 marks) Advertising | $500 per month | Rent | $1,000 per month | Supplies | $1.50 per haircut | Utilities | $300 per month plus $0.50 per haircut | Magazines | $50 per month | Cleaning supplies | $0.25 per haircut | Price per haircut | $15 | a. Compute the fixed costs per month, the variable costs per haircut, the contribution margin and the monthly break-even point for the number of haircuts.
Using information given in question C, the $16,200 in new machinery will be divided up over 36 months. This additional cost will add $450 per month to Molly’s fixed costs, bringing her total to $2,150 monthly. With that given information, Molly would need to clean an additional 529 items a month to break even. The answer was derived by using the following equation: $2,150 ÷ (1.1 – $0.25) – 2000 = 529.412
Next is the number of pumps one employee can produce in one month. Which is, 771/25 (number of pumps for one employee a month, the company would need a total of 30.8 workers, or 31 (rounding up). After this information is gathered, these are the possible results: • We need to hire 11 more employees (there are now 20, and we need 31) • In the case reading, it is shown that there are up front cost of $1100 this is found the $100.00 hiring cost, multiplied by the 11 new employees. • Monthly production ----- 775 (31 workers x 25 pumps per worker) • The end of month inventory will be figured as 1 will be 225 >>>> this is the production of 775 (+) existing inventory of 50 = 825, then (-) the production of 600. Month 1 2 3 4 5 6 Demand 600 750 1000 850 750 700 Production 775 775 775 775 775
"The production of these two slip-on products both require processing in our assembly department and our finishing department." Handel pauses. "I've e-mailed you a table showing how long each batch of loafers takes in the two departments, and the profit per batch." Product Assembly Department Finishing Department Profit per batch Batches of Tassel Loafers 2 hours 8 hours $800 Batches of Penny Loafers 6 hours 4 hours $1,200 "I've also sent the available capacity, in hours, for both departments and the
Plain cookies require 1 pound of cookie dough to make (per dozen), as well as .1 hours (per dozen). Iced cookies use .7 pounds of cookie dough and .4 pounds of icing (per dozen) as well as .15 hours to make (per dozen). So when you combine the two of those you end up with these constraints: Oven Space Available P + I ≤ 140 Amount of Cookie Dough Available P + .7I ≤ 110 Amount of Icing Available I ≤ 80 Preparation Time Available P + 1.5I ≤ 150 Those formula’s I used to create the constraints with are called equivalent inequalities. An equivalent inequality means that there is a number of different answers to a problem not just one. Such as the problem X < 5 means that any number less than 5 would be a correct solution.
If we have 2 trays, then we just need 10 more minutes to deal with a rush order, total 36minutes. See the following Chart: Note: All the answer assumes that each order just need 1 dozen cookies. Question 2: How many orders can you fill in a night, assuming you are open four hours each night? We can see that Chart above, if there are orders without interruption for four 4 hours, the first dozen cookies need at least 26 minutes. From the second dozen cookies, we just need to divide the remaining