Prescott expects to produce 225,000 basic models and 225,000 professional models. Compute the predetermined overhead allocation rates using activity-based costing. How much overhead is allocated to the basic model? To the professional model?Estimated overhead cost / Estimated qty of the allocation base= Predetermined OH Basic Model Professional ModelManufacturing overhead assembly 264800 195200Manufacturing overhead packaging 55200 227700Total manufacturing overhead cost 320000 422900

Answers

Answer 1
Answer:

Answer and Explanation:

The Calculation of Predetermined OH Rate is shown below:

For Materials Handling, it is

= Estimated Overhead Costs ÷ Estimated allocated base Quantity  

= $54,000 ÷ 96

= $562.50 per part

For Machine Setup, it is

= Estimated Overhead Costs ÷ Estimated allocated base Quantity

= $204,000 ÷ 60

= $3,400 per setup

For Insertion of Parts, it is

= Estimated Overhead Costs ÷ Estimated allocated base Quantity  

= $486,000 ÷ 96

= $5,062.50 per part

Now  

Calculation of allocated OH is

For Basic Model:

Allocated OH is

= $562.50 × 32 + $3,400 × 20 + $5,062.50 × 32

= $248,000

For Professional Model:

Allocated OH is

= $562.50 × 64 + $3,400 × 40 + $5,062.50 × 64

= $496,000


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Simba Company’s standard materials cost per unit of output is $10.00 (2.00 pounds x $5.00). During July, the company purchases and uses 3,200 pounds of materials costing $16,192 in making 1,500 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.)

Answers

The quantitative assessment of the discrepancy between planned and actual behavior is known as variance analysis. This study is utilized to keep a corporationunder control by looking into areas where performance has been surprisingly bad.

Note:

Standard cost = SC

Actual cost = AC

Standar rate = SR

Actual rate = AR

Standard Quantity = SQ

Actual Quantity = AQ

Material Cost Varience = MCV

Material Rate Varience = MRV

Material Usage Variance = MUV

1) Computation of Material Cost Variance (MCV)

\text{MCV = SC -AC}

= 1,500 × 2 = 3,000

\text{SC = 3,000} × 5= 15,000

\text{AC ( Pounds of material costing)} = 16,192

\text{MCV} = 15,000 - 16,192

\text{MCV} = 1,192 (A)

2) Computation of Material Rate Variance (MRV)

\text{MRV = (SR-AR) AQ}

\text{AR} = 3,200

\text{SR}  = 5

\text{AR}  = (16,192)/(3200)

\text{AR} = 5.06

\text{MRV} = (5-5.06) 3,200\n\ntext{MRV} = 192 (A)

3) Computation of Material Usage Variance (MUV)

\text{MUV} = \text{ (SQ-AQ) SR)}\n\n\text{SQ} = 1,500 \text{ X } 2 = 3,000\n\n\text{MUV}  = (3,000 -3,200) \text{ X } 5

\text{MUV} = 1,000 (A)

For more information regarding variance costing sums, refer to the link:

brainly.com/question/14976139

Answer:

A)1192 A

B) 192 A

C)  1000 A

Explanation:

The Question is to Compute Simba Company's Total, Price, and Quantity materials Variances

1) Computation of material Cost Variance

= The Standard Cost - The Actual Cost of the material

= 1,500 units x 2 pounds = 3000 pounds

Standard Cost = 3,000 pounds x $5 = $15,000

Therefore material variance = $15,000 - $16,192 = 1192A

2) The material Rate Variance or the Price Variance

= (Standard Rate - Actual Rate) Actual Quantity

= Actual Rae = $16,192 / 3200 = $5.06

Material Rate Variance = (5- 5.06) x 3,200

= 192 A

3) The material Usage Variance or Quantity variance

= (The Standard Quantity - Actual Quantity) Standard Rate

Standard Quantity = 1,500 Units x 2 Pounds = 3000 pounds

Material Usage Variance = (3,000-3,200) 5

= 1000 A

LO 4.2Which document lists the total direct labor used in a specific job?job cost sheet
purchase order
employee time ticket
receiving document

Answers

Answer:

job cost sheet  

Explanation:

The job cost sheet refers to the statement used to report production costs and is developed by businesses using a work-order charging system to measure and assign costs of goods and services.

is the responsibility of the accounts department to chart all production costs (primary supplies, direct labor and overhead production) on the work cost sheet. For each worker, a separate job expense sheet is arranged.

Job cost sheet not gets utilized for paying work expenses only, it's also component of the reporting records of the business. It is also used in the system account as something of a subordinate ledger to the project as it includes all the information about the work being done.

Back Bay Company is a price−taker and uses target pricing. Refer to the following​ information:Production volume602,000units per yearMarket price$34per unitDesired operating income17​%of total assetsTotal assets$13,800,000What is the target full product cost per​ unit? (Round your answer to nearest​ cent.) Assume all units produced are sold.

Answers

Answer: $30.10 per unit

Explanation:

Given that,

Production volume = 602,000 units per year

Market price = $34 per unit

Desired operating income = 17​% of total assets

Total assets = $13,800,000

Total income = 17% of Total assets

                      = 0.17 × $13,800,000

                      = $2,346,000

Total sales = Market price × Production volume

                  = $34 per unit × 602,000 units

                  = $20,468,000

Target full product cost in total for the year:

= Total sales - Total income

= $20,468,000 - $2,346,000

= $18,122,000

Target full product cost per​ unit = (Target\ full\ product\ cost)/(Production\ volume)

                                                      = (18,122,000)/(602,000)

                                                      = $30.10 per unit

The capital accounts of Harrison and Marti have balances of $160,000 and $110,000, respectively, on January 1, the beginning of the current fiscal year. On April 10, Harrison invested an additional $20,000. During the year, Harrison and Marti withdrew $96,000 and $78,000, respectively, and net income for the year was $264,000. The articles of partnership make no reference to the division of net income. Based on this information, the statement ofBased on this information, the statement of partners' equity would show what amount in the capital account for Harrison on December 31?a.$164,000b.$216,000c.$52,000d.$380,000

Answers

Answer:

b.$216,000

Explanation:

The computation of the balance in the capital account for Harrison is shown below:

= Opening balance + additional invested amount - withdrawn amount + net income distributed

= $160,000 + $20,000 - $96,000 + $132,000

= $216,000

We assume that the net income is equally distributed.

Since we have to determine for the Harrison only so we ignored the Marti data which is given in the question

Dunkin Donuts does a lot of taste testing and research and asks for consumer feedback to determine what products to offer. This represents the _____________.

Answers

Final answer:

Dunkin Donuts' actions of taste testing, research, and consumer feedback represent 'Market Research'. This process helps them collect and analyze data about consumer preferences, trends, and competition, thereby assisting them in making informed product decisions.

Explanation:

In the context of Dunkin Donuts' actions, this represents Market Research. Market Research is the process of gathering and analyzing data about the market, including information about customer preferences, trends, and competing products. For a company like Dunkin Donuts, this helps to ensure that they are meeting consumer demand, staying ahead of trends, and maintaining a competitive edge in the donut and coffee market. For example, they might survey customers about their preferred donut flavors, or test new product offerings in select locations to see how they perform. Based on the feedback, they make decisions on what to offer on a wider scale.

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The following information relates to Jay Co.’s accounts receivable for 2016: Accounts receivable balance, 1/1/2016 $650,000 Credit sales for 2016 2,700,000 Sales returns during 2016 75,000 Accounts receivable written off during 2016 40,000 Collections from customers during 2016 2,150,000 Allowance for uncollectible accounts balance, 12/31/2016 110,000 What amount should Jay report for accounts receivable, before allowances, at December 31, 2016?

Answers

Answer:

$1,085,000

Explanation:

The computation of the ending account receivable balance is shown below:

= Accounts receivable balance, 1/1/2016 + credit sales - sales returns - written off amount - Collections from customers

= $650,000 + $2,700,000 - $75,000 - $40,000 - $2,150,000

= $1,085,000

Since we have to find out the account receivable balance before allowances so we do not considered it.

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