[mcampos65]

Cash Budget for the coming month - all sales are made on account:
Beginning balance - 50,000, Accounts Rec - 180,000
Budgeted Amounts - Sales 800,000, cash disburse 780,000, depreciation 25,000, Ending Acct. Rec. Bal. 210,000

1-Need Expected cash balance of the End of the coming month
2-Direct labor price variable for novenber
3-direct labor price variable for November (U) or (F)
4-Direct Labor efficiency varianace for November
5-direct labor efficiency variance (U) or (F)
6-Actual Kilograms of material used in the prod. Process in November
7-Assume the purchase dept. is resp. for the material price variance, what is the actual price paid per kilogram of material during nov.
8-What is the total amount of direct material & direct labor costs
transferred to the finished goods account for Nov.

[mcampos65]

All information pertains to operations in nov.
WIP Inv. 11-1-08 - 16,000 units
Started in Prod. During Nov. 100,000 - Units.
WIP Inv. 11-30-08 - 24,000 Units
The beginning inv. Was 60% compl. As to mat. And 20% compl. As to conversion costs. Ending Inventory was 90% comple. As to mater. And 40% compl. As to conversion costs:
- Cost pertaining to Nov: Beg. Inv: Direct Material $54,560, Dir. Labor $20,320, Manu OH $15,240
- Cost incurred during the month: Dir Mat $468,000, Dir. Labor $182,880, Man. OH 391,160.

1 - What is equivalent Unit Costs for Mat. Using FIFO Process Costing?
2 - What is the equiv. unit cost for the conversion costs using the FIFO Process Costing
3 - What are the total costs in the ending WIP Inv. Using FIFO process costing.
4 - What is the equivalent unit cost for mat. Using weighted-average process costing
5 - What is the equivalent unit cost for the conversion costs using weighted average process costing.
6.What are the total costs in the ending WIP Inv. Using weighted average process costing

[mcampos65]

The standard costs for the prime cost of its single product is as follows:
Materials: 8Kilograms @$5 per kilogram = $40
Labor: 6 hours @ $8.20 per hour = $49.20

The following oper. Data was taken from the records for nov.:
Units completed 5,600 units; budgeted output 6,000 units; purchases of Materials $300,760; total labor costs$300,760; actual hours of labor 36,500 hours; Material efficiency variance $2,500 Unfavorable; Total material variance $750 (unfavorable)

1. What is the Direct labor price variance for Nov. = 1,460
2. Is the direct labor price variance favorable or unfavorable? = (U)
3. What is the direct labor efficiency variance for Nov. = $23,780
4. Is the direct labor efficiency favorable or unfavorable? = (U)
5. What is the actual kilogram of material used in the production process during Nov. = 45,100kg
6. Assume the purchasing dept. is responsible for the material price variance, what is the actual price per kilogram of material during Nov. = $5.015
7. What is the total amount or direct materials and direct labor costs transferred to the finished goods account for Nov. = $550,010

[mcampos65]

Actual machine hours - 840; standard machine hours allowed 900
Denominator aactivity (machine Hours) 1000; Actual fixed O-H costs $3,800; Budgeted fixed OH Costs $4,000; Predetermined Overhead rate (1 variable + 4 fixed) $5.

What is the fixed overhead spending (budget) variance. = $200
Is the fixed O-H spending (Budget) variance favorable or Unfovorable. = (F)
What is the production volume variance? = $400
Is the production volume variance favorable or unfavorable? = (F)

[mcampos65]

WIP Inventory, Nov. 1, 2008 - 16,000 units
Started in production in Nov. - 100,000 Units
WIP Inv. Nov. 30, 2008 - 24,000 Units

Beginning inv. Was 60% completed as to materials and 20% complete as to conversion costs. The ending was 90% completed as to materials and 40% complete as to conversion costs.

Cost pertaining to Nov: Beginning inv: direct materials $468,000; direct labor $20,320; man. OH $25,240.

Cost incurred during the month: Direct materials $468,000, direct labor $182,880; Manu OH $391,160

1. What is the equivalent unit cost for materials assuming FIFO is used? = $4.50
2. What is the equivalent unit cost for the conversion costs assuming FIFO processing costing is used? $6.00
3. What are the total costs in the ending WIP Inv. Assuming FIFO processing costs is used: = $156,960
4. What is the equivalent unit costs for materials assuming weighted average processing costs is used? = $4.50
5. What is the equivalent unit cost for the conversion costs assume weighted average processing costing is used? = $5.65
6. What are the total costs in the ending WIP Inventory assumeing weighted average processing costing is used? $156,960

[mcampos65]

Two jobs were worked on during 2006: job A-101 and Jop A-102. The number of the direct labor hours spent on Job A101 and Job A 102 were 1,200 and 1,00, respectiely. The actual manufacturing OH was $37,000

Estimated manufacgturing OH for 2006 $40,000
Estimated direct labor hours for 2006 $2,000

1. What is the predetermined manfuacturing overhead rate per direct labor hour for the year? = $25.

2. What was the amount of manufacturing OH applied to job A101? = $24,000

3. What is the amount of the under or over-applied manufacturing OH? = $4,000 under-applied

[mcampos65]

Uing predetermined manufacturing OH rates based on direct labor hours to apply its indirect product costs to jobs? Using the following information collected for the previous:
Direct Materials $150,000; Direct Labor 200,000; sales commissions 100,000; Indirect Labor 50,000; rent on office equipment 25,000; depreciation - factory building 75,000; Utilities (factory) 125,000.

1. Use 25,000 direct labor hours and 50,000 machine hours during the previous. What is the predetermined overhead rate per direct labor hour? = $14.00

[mcampos65]

The following costs have been estimated based on sales of 30,000 units. Using the information below:
Total Amount Costs % that is variable
Direct Materials $300,000 100%
Direct Labor 250,000 100%
Manufacturing OH 250,000 50%
Selling & Administrative 150,000 25%

What selling price will yield a contribution margin of 40%? = $33.25

[mcampos65]

A company has fixed cost of $225,000 for the production of tubes. Estimated sales are 150,000 units. A before tax profit of $125,000 is desired by the controller. If the tubes sell for $5 each, what unit contribution margin is required to attain the profit target?

$2.33

[ROLCAM]

150,000 units @ $5 = 750,000
225,000 + x +125,000 =750,000
x = 750,000 - 350,000 = 400,000
400,000/150,000 = $2.33.

[morgaine300]

Please see the guidelines for posting homework problems:

https://www.askmehelpdesk.com/financ...es-468524.html

And for this one, you really are going to have to show attempt at working the problem or ask some specific questions, because process costing problems are long and nearly impossible to just try to explain in a post.

[morgaine300]

Ditto - see the guidelines for submitting homework.

Questions 2 - 8 are not related to the information given.

[rehmanvohra]

While I fully agree with Morgaine300, I have prepared a skeleton table for you. All you have to do is put in the figures. I am sure your text book must have some information for calculating EPU.

[mcampos65]

Please see the guidelines for posting homework problems:

https://www.askmehelpdesk.com/financ...es-468524.html

And for this one, you really are going to have to show attempt at working the problem or ask some specific questions, because process costing problems are long and nearly impossible to just try to explain in a post.

I just need to know if I am on the right track. I am having a lot of problems with this class and the professor is not a user friendly person.