cost accounting homework help

FratBro23
Category:
Accounting
Price: $20 USD

Question description

Jack and Jill Manufacturing Inc. began the year with the following.

Units

Beginning work-in-process

 15,000 

30% complete

Transferred to finished goods

 55,000 

Ending inventory

 5,000 

60% complete

Materials added at the beginning of the process.

Required: Calculate the equivalent units for the following.

a. Materials costs under the weighted average process cost method

b. Conversion costs under the weighted average process cost method

c. Materials costs under the FIFO process cost method

d. Conversion costs under the FIFO process cost method

Bones Company manufactures two products (X and Z).

Overhead costs have been divided into three cost pools that use the following activity drivers.

Product

# of Setups

Machine Hours

Packing Orders

X

36

1,950

82.5

Z

36

5,850

247.5

Cost per Pool

 $72,000 

 $165,000 

 $45,000 

a. What is the allocation rate for Product Z per setup using activity-based costing?

b. What is the allocation rate for Product Z per machine hours using activity-based costing?

c. What is the allocation rate for Product Z per packing order using activity-based costing?

 Household Manufacturing Inc. sells its product for $45 each.

Sales volume averages 2,000 units per year.

Recently, its main competitor reduced the price of its product to $30.

Maximum expects sales to drop dramatically unless it matches the competitor's price.

In addition, the current profit per unit must be maintained.

Information about the product (for production of 2,000) is as follows:

Standard Quantity

Actual Quantity

Actual Cost

Materials (pounds)

 3,200 

 3,500 

 $35,000 

Labor (hours)

 900 

 1,000 

 $30,000 

Setups (hours)

0

125

 $3,000 

Material handling (moves)

0

200

 $4,000 

Warranties (number repaired)

0

450

 $11,000 

Required:

a. Calculate the target cost for maintaining current market share and profitability.

b. Calculate the non-value-added cost per unit.

c. If non-value-added costs can be reduced to zero, can the target cost be achieved?


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: UCLA
PREMIUM TUTOR
Studypool has helped 1,244,100 students
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1821 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors