Wolf Co. estimates that its employees will work 600,000 direct labor hours during the coming year

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Wolf Co. estimates

that its employees will work 600,000 direct labor hours during the

coming year. Total overhead costs are estimated to be $9,600,000 and direct labor costs are estimated to be $12,500,000. Direct Labor hours are actually 450,000.

If Wolf Co. allocates overhead based on direct labor HOURS, what is the predetermined overhead rate?

 
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The Mixing Department is the third department in the MZS Inc. factory.

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The Mixing Department is the third department in the MZS Inc. factory. During January, there were 4,000 units of

beginning inventory in the Mixing Department, and 90,000 units were transferred in from the prior process. There were 8,000 units in ending inventory. The transferred-in cost in the beginning inventory was $170,000 and there was $600,000 in transferred-in cost during the month.

 
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Assume that we are manufacturing a product and assume that the sales price per unit is $60 and the variable cost

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Assume that we are manufacturing a product and assume that the sales price per unit is $60 and the variable cost

is $20 per unit and the fixed cost is $80,000; a) how many units would we need to sell to break even? b) How many units would we need to sell to earn a profit of $120,000? c) How many units do we need to sell to double that profit to $240,000? D) Why didn’t the number of units double from Part B to Part C?

 
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Sivan Co. manufactures and sells one product. For the year, they started with no opening inventory;

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Sivan Co. manufactures and sells one product. For the year, they started with no opening inventory; produced

100,000 units but only sold 70,000 units. The selling price per each unit is $80.

The variable costs per unit were:

Direct materials…………………….7

Direct Labor ………………………..6

variable manufacturing overhead….5

variable selling and administrative….6

Fixed costs per year:

Fixed manufacturing Overhead …………….$700,000

Fixed Selling and Administrative expenses….$300,000

(a) Prepare the Income Statement using Absorption Costing.

(b) Prepare the Income Statement using Variable Costing

 
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