Costs are split into two groups: Manufacturing Costs Nonmanufacturing Costs Manufacturing Costs: Direct Materials - Materials that go into the final product Direct Labor - Labor costs that can be traced into parts of the product Manufacturing Overhead - all manufacturing costs except direct materials/labor ‚ such as Indirect Materials‚ Indirect Labor‚ Maintenance and Repairs on Production Equipment‚ property taxes‚ depreciation and insurance on manufacturing facilities . ( Costs associated
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labor 65‚000 Variable factory overhead 30‚000 Fixed factory overhead 70‚000 Total costs $210‚000 Of the fixed factory overhead costs‚ $30‚000 is avoidable. Phil Company has offered to sell 10‚000 units of the same part to Schmidt Corporation for $18 per unit. Assuming there is no other use for the facilities‚ Schmidt should (TCO 3) Patrick Ross‚ the president of Ross’s Wild Game Company‚ has asked for information about the cost behavior of manufacturing overhead costs. Specifically‚
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Calculate the budgeted cost of trophies and plaques based on a single plant-wide overhead rate‚ if total overhead is allocated based on total direct costs. 2. Calculate the budgeted cost of trophies and plaques based on department overhead rates‚ where forming department overhead costs are allocated based on direct labor costs of the forming department ‚ and assembly department overhead costs are allocated based on total direct costs of the assembly department.
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materials. A summary of the T-accounts for Needham Company before adjusting for under- or overallocation of overhead follows: Direct Materials Control Work-in-Process Control 1-1-2008 30‚000 Purchases 400‚000 Material used for manufacturing 380‚000 1-1-2008 20‚000 Direct materials 380‚000 Transferred to finished goods 940‚000 12-31-2008 50‚000 Direct manuf. Labor 360‚000 Manuf. overhead allocated 480‚000 12-31-2008 300‚000 Finished Goods Control Cost of Goods Sold 1-1-2008 10‚000 Transferred
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solutions are given for q.38 and q.40 /Usha 1. Thread used in the production of mattresses‚ an indirect material‚ is classified as manufacturing overhead. TRUE/ False 2. Prime cost and conversion cost share what common element of total cost? A) Direct materials. B) Direct labor. C) Variable overhead. D) Fixed overhead. 3. Wages paid to a timekeeper in a factory are a: Prime cost Conversion cost A) Yes No B) Yes Yes C) No No D) No Yes 4
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capacity Predetermined overhead rate - cost per unit of the allocation base used to charge overhead to products. Predetermined overhead rate=Estimated overhead/Estimated allocation base One-stage allocation system * Single cost pool – Entire manufacturing overhead * Single allocation base / cost driver-Direct materials cost/ Direct labor hours/ Direct labor cost/ Machine hours/ etc. * Predetermined Overhead Rate or Burden rate = Total manufacturing overhead / X * Where X =
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Human Computer Interface design issues and challenges presented by Human-Robotic Interaction Problem Statement The replacement of factory and retail workers with robots that can perform the repetitive tasks done by their human counterparts has escalated. This can be seen in areas where the repetitive maneuvers performed by a robot can replace a multitude of workers thereby increasing the manufacturing process yet causing unemployment levels to rise in a locale area. These types of manufacturing jobs
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Utes. ). Recognized inside 1887‚ it’s the optimum in times past shaded lincoln in the Nonsegmental Says simply by entry ways. It is just a associate infirmary in the Area University Gang of Florida‚ as drastically as one of the express’s level apportionment universities‚ and is particularly commissioned to help awarding amount‚ swayer’s and pupil degrees because of the Qualification with Institutions in the Bleak Link connected with Institutions and Schools. This lincoln can be a member-school in
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rational manner to those periods expected to benefit from the use of the asset. Factors Involved in the Depreciation Process 1. What depreciable base is to be used for the asset? 2. What is the asset’s useful life? 3. What method of cost apportionment is best for the asset? Depreciable Base for the Asset The base established for depreciation is a function of two factors: the original cost‚ and the salvage or disposal value. Salvage value is the estimated amount that the company will receive
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labor and as manufacturing overhead. Conversion cost is the sum of direct labor and manufacturing overhead. These costs are incurred to convert materials into the finished product. Indirect labor is treated as part of manufacturing overhead. 2. Prime cost and conversion cost share what common element of total cost? B. Direct labor. Prime cost is the sum of direct materials and direct labor‚ likewise Conversion cost is the sum of direct labor and manufacturing overhead. 3. On the Schedule
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