Entries by Grace Wahito

James Inc. estimates that its employees will utilize 400,000 machine hours

April 1, 2020 in /by

James Inc. estimates that its employees will utilize 400,000 machine hours during the coming year. Total overhead costs are estimated to be $8,800,000 and direct labor hours are estimated to be 200,000. Actual machine hours are 420,000. Actual labor hours are 225,000. If James Inc. allocates overhead based on machine hours, what is the predetermined manufacturing […]

 

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Johnson Company produces and sells a single product

April 1, 2020 in /by

Johnson Company produces and sells a single product whose selling price is $80.00 per unit and whose variable expense is $50.00 per unit. The company’s fixed expense is $270,000 per month. (a) What is the CM ratio (express your answer as a percentage to two decimal places)? (5 points) (b) How many units must be […]

 

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TCO 3) ABC Company uses process costing

April 1, 2020 in /by

TCO 3) ABC Company uses process costing to track its costs in two sequential production departments: Forming and Finishing. The following information is provided regarding the Forming department. Forming Department Month Ended July 31 Unit information Beginning work in process, July 1 — 10,000 Started into production during July — 21,000 Completed and transferred to Finishing […]

 

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TCO 5) ABC Company manufactures

April 1, 2020 in /by

TCO 5) ABC Company manufactures and sells one product. Sales and production information is contained below. ·        Selling price per unit $62 ·        Variable manufacturing costs per unit produced (DM, DL, and variable MOH)  $42 ·        Variable operating expenses per unit sold $9 ·        Fixed manufacturing overhead (MOH) in total for the year $112,000 ·        Fixed operating expenses in total for […]

 

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