Entries by mary WAMBUGU

A company isolates its raw material price variance in order to provide the earliest possible information to the manager responsible for the variance.

September 10, 2019 in /by

A company isolates its raw material price variance in order to provide the earliest possible information to the manager responsible for the variance. The budgeted amount of material usage for the year was computed as follows: 37,000 units of finished goods × 2.5 lbs./unit × $6.25/lb. = $578,125 Actual results for the year were the […]

 

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A cracker manufacturer has the following unit costs for the month of June: Variable Variable Fixed Fixed manufacturing marketing manufacturing marketing

September 10, 2019 in /by

A cracker manufacturer has the following unit costs for the month of June: Variable Variable Fixed Fixed manufacturing marketing manufacturing marketing cost cost cost cost $7.25 $5.08 $2.90 $5.80 A total of 50,000 units were manufactured during June, 12,000 of which remain in ending inventory. The manufacturer uses the first-in, first-out (FIFO) inventory method, and […]

 

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A cost accountant is developing departmental factory overhead application rates for the company’s tooling and fabricating departments.

September 10, 2019 in /by

A cost accountant is developing departmental factory overhead application rates for the company’s tooling and fabricating departments. The budgeted overhead for each department and the data for one job are shown below. Department: Tooling Fabricating Supplies                        975                250 Supervisor’s salaries                    1,750            1,800 Indirect labor                    1,350            5,200 Depreciation                        800 […]

 

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A corporation manufactures a specialty line of dresses using a job-order costing system. During January, the following costs were incurred in completing job J-1: Direct labor 32,000

September 10, 2019 in /by

A corporation manufactures a specialty line of dresses using a job-order costing system. During January, the following costs were incurred in completing job J-1: Direct labor                  32,000 Direct materials                  12,000 Administrative costs                    3,500 Selling costs                    9,000 Factory overhead was applied at the rate of $32 per direct labor hour, and job […]

 

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