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  • Lehighton Chalk Company manufactures sidewalk chalk, which it sells online by the box at $25 per...

    Lehighton Chalk Company manufactures sidewalk chalk, which it sells online by the box at $25 per unit. Lehighton uses an actual costing system, which means that the actual costs of direct material, direct labor, and manufacturing overhead are entered into work-in-process inventory. The actual application rate for manufacturing overhead is computed each year; actual manufacturing overhead is divided by actual...

  • Precise Machinery is analyzing a proposed project. The company expects to sell 7,500 units, ±10 percent....

    Precise Machinery is analyzing a proposed project. The company expects to sell 7,500 units, ±10 percent. The expected variable cost per unit is $314 and the expected fixed costs are $647,000. Cost estimates are considered accurate within a ±4 percent range. The depreciation expense is $187,000. The sales price is estimated at $849 per unit, give or take 2 percent....

  • Figure 8-4. The following information pertains to Mayberry Corporation: Beginning inventory 1,000 units Ending inventory 6,000...

    Figure 8-4. The following information pertains to Mayberry Corporation: Beginning inventory 1,000 units Ending inventory 6,000 units Direct labor per unit $40 Direct materials per unit 20 Variable overhead per unit 10 Fixed overhead per unit 30 Variable selling and admin. costs per unit 6 Fixed selling and admin. costs per unit 14 Refer to Figure 8-4. Absorption costing income...

  • L Jutlet Income Jueu to break even? To earn net income of $159,600? ome if the...

    L Jutlet Income Jueu to break even? To earn net income of $159,600? ome if the number of customers is 145,000. 13.000 2.23 CVP analysis, sensitivity analysis. Tuff Kids Jeans Co sells blue jeans wholesale to major retauer across the country. Each pair of jeans has a selling price of $30 with $21 in variable costs of goods sold The...

  • Paulson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging. Direct materials are...

    Paulson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging. Direct materials are added at the beginning of the fermenting process (grapes) and at the end of the packaging process (bottles). Conversion costs are added evenly throughout each process. The company uses the weighted average method. Data from the month of March for the Fermenting Department are...

  • 1. What was the company’s plantwide predetermined overhead rate? (Round your answer to 2 decimal places.)...

    1. What was the company’s plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) 2. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round intermediate calculations.) 3. What was the total manufacturing cost assigned to Job P? (Do not round intermediate calculations.) 4. If Job P included...

  • Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50...

    Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 78 cents per bottle. For the year 2014, management estimates the following revenues and costs. Sales $1,804,000 Selling expenses—variable $69,800 Direct materials 428,000 Selling expenses—fixed 65,800 Direct labor 354,000 Administrative expenses—variable 64,920 Manufacturing overheadvariable 310,000...

  • question 5: Beemo Inc. sells video games and use normal job costing to track costs. During...

    question 5: Beemo Inc. sells video games and use normal job costing to track costs. During 2018, Beemo Inc. had the following transactions: a. Purchased $555,000 of materials on credit b. $624,300 of materials were used, with $520,400 being direct materials and the rest indirect materials C. $546,000 was paid to direct labor and $88,000 was paid to indirect labor...

  • Prepare a cost of production report for the Fabricating Department for the month of April and determine the following.

    Matoyo Ltd manufactures large metal waste containers. These containers are produced in two processing departments, Fabricating and Painting. In both departments, all the direct materials are added at the beginning of the process, labour and overhead costs are applied evenly throughout the entire process. Matoyo uses process costing and had the following production and cost information for the Fabricating Department...

  • Use the data to solve the problems High Desert Potteryworks makes a variety of pottery products...

    Use the data to solve the problems High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the...

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