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ACC 561 Week 4 Assignment Wiley PLUS

ACC 561 Week 4 Assignment Wiley PLUS Check this A tutorial guideline at http://www.assignmentcloud.com/ACC-561/ACC-561-Week-4-Assignment-WileyPLUS Exercise 15-5 Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $277,640 for the year, and machine usage is estimated at 126,200 hours. For the year, $291,977 of overhead costs are incurred and 130,300 hours are used. (a). Compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.) (b) What is the amount of under- or overapplied overhead at December 31? (c) Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Exercise 16-3 ledger of Custer Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,870 5/31 Transferred out ? 5/31 Materials 6,750 5/31 Labor 4,800 5/31 Overhead 1,570 5/31 Balance ? Production records show that there were 440 units in the beginning inventory, 30% complete, 1,510 units started, and 1,510 units transferred out. The beginning work in process had materials cost of $2,150 and conversion costs of $1,720. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. (a) How many units are in process at May 31? Work in process, May 31 units (b) What is the unit materials cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.) The unit materials cost for May (c) What is the unit conversion cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.) The unit conversion cost for May (d) What is the total cost of units transferred out in May? (Round answer to 0 decimal places, e.g. 1,225.) (e) What is the cost of th

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ACC 561 Week 4 Assignment Wiley PLUS

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  1. ACC 561 Week 5 Assignment WileyPLUS Check this A+ tutorial guideline at http://www.assignmentcloud.com/ACC-561/ACC-561-Week-5-Assignment-WileyPLUS Brief Exercise 18-8Meriden Company has a unit selling price of $590, variable costs per unit of $354, and fixed costs of $203,432. Compute the break-even point in units using the mathematical equation.Break-even point           units Brief Exercise 18-10For Turgo Company, variable costs are 57% of sales, and fixed costs are $178,700. Management’s net income goal is $82,525. Compute the required sales in dollars needed to achieve management’s target net income of $82,525.Required sales        $   Brief Exercise 18-11

  2. For Kozy Company, actual sales are $1,270,000 and break-even sales are $825,500. Compute the margin of safety in dollars and the margin of safety ratio.Margin of safety        $   Margin of safety ratio           % Brief Exercise 19-16Montana Company produces basketballs. It incurred the following costs during the year.Direct materials        $14,283Direct labor        $25,755Fixed manufacturing overhead        $10,420Variable manufacturing overhead        $32,191Selling costs        $20,932 What are the total product costs for the company under variable costing?Total product costs        $    Exercise 19-17 Polk Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs.Variable Cost per Unit        Direct materials        $8.25Direct labor        $2.70Variable manufacturing overhead        $6.33Variable selling and administrative expenses        $4.29

  3. Fixed Costs per Year        Fixed manufacturing overhead        $260,032Fixed selling and administrative expenses        $264,110 Polk Company sells the fishing lures for $27.50. During 2012, the company sold 81,100 lures and produced 95,600 lures. a.) Assuming the company uses variable costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.)Manufacturing cost per unit        $   (b.) Prepare a variable costing income statement for 2012. (C.) Assuming the company uses absorption costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.)Manufacturing cost per unit        $   (D.) Prepare an absorption costing income statement for 2012. Brief Exercise 21-1 For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $329,400 budget; $330,600 actual. Prepare a static budget report for the quarter. MARIS COMPANYSales Budget ReportFor the Quarter Ended March 31, 2012Product Line        Budget        Actual        DifferenceGarden-Tools        $  

  4.  $      $   Brief Exercise 21-4 Gundy Company expects to produce 1,276,560 units of Product XX in 2012. Monthly production is expected to range from 85,120 to 130,440 units. Budgeted variable manufacturing costs per unit are: direct materials $3, direct labor $7, and overhead $10. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $2. Prepare a flexible manufacturing budget for the relevant range value using 22,660 unit increments. (List variable costs before fixed costs.) For more classes visit www.assignmentcloud.com

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