Burnham industries incurs the following costs for the month: Direct materials $2,000 Direct labor 3,000 Factory depreciation expense 3,500 Factory utilities expense 750 CEO's salary 4,000 What is the prime cost?
Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020:…
A: 1. Direct material used in production=Opening direct material + Raw material purchased-Closing…
Q: I. ABC company had the following expenses in June. $ 130,000 65,000 12,000 Direct labor Factory…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: The following operating costs were extracted from the books of Paper Producers Ltd for…
A: Prime cost means the addition of direct material and direct labor and other direct expenses.…
Q: Pretty Pillows, Mfg., manufactures silk throw pillows. Last month the company produced 3,890…
A: Cost of goods manufactured: It means total manufacturing costs, including all direct materials,…
Q: Ibrahim Corporation has the following estimated costs for the year: Direct Materials…
A: Pre-Determined Overhead Rate: Manufacturing overheads are those costs that are incurred indirectly…
Q: xample Ltd is a manufacturer. It produced 2,000 units in April. The following cost information is…
A: While producing an item, various costs are incurred by the firm. These costs can be direct costs…
Q: Pretty Pillows, Mfg., manufactures silk throw pillows. Last month the company produced 3,890…
A: Direct costs: Direct costs are the amounts that can be easily traced in the production process. It…
Q: During its first year of operations, Silverman Company paid $16,360 for direct materials and $10,300…
A: The cost of goods sold is the total of all the costs incurred to produce a product or service. It…
Q: Superman Company Superman Company has the following costs and expenses for the year ending December…
A: 1. The required Schedule of Cost of goods manufactured is shown below:
Q: Coucou Manufacturing Inc. has provided the following information concerning its manufacturing cost…
A: The budget is prepared to estimate the costs in advance.
Q: Choco's Chocolates incurs these costs for the month: Direct materials $15,000…
A: The conversion cost is computed as total of direct labor and manufacturing overheads.
Q: Burnham Industries incurs the following costs for the month: Direct materials $1,900 Direct labor…
A:
Q: Walter Company has the following information for the month of March: Cash balance, March 1…
A: Solution:- Calculation of the Walter's cash budget for the month of March as follows:-
Q: Skysong Company reports the following costs and expenses in May. Factory utilities $14,200…
A: Product Costs mean the costs incurred directly or indirectly related to the production of a product.…
Q: d) Prepare a schedule of cost of goods manufactured for the year ended June 30, 2020, clearly…
A: Direct Material Cost=Beginning Direct Meterial Inventory+Raw Material Purchased-Ending Direct…
Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30,…
A: Given: The information about Bubba manufacturing company is given as, Some other information is…
Q: Use the following data to compute total manufacturing costs for the month: Sales commissions $11,400…
A: Total manufacturing costs of the product includes the costs which are incurred on the manufacturing.…
Q: During the month of May, ABC Corporation, a manufacturing company, purchased raw materials costing…
A: As per the inventory equation, Opening stock +Additions during the month=Cost of goods used in…
Q: Burnham Industries incurs the following costs for the month: Direct materials $2,000 Direct labor…
A: Prime cost = Direct materials + direct labor
Q: kysong Company reports the following costs and expenses in May. Factory utilities $14,200…
A: Cost sheet is a method of allocating total cost into different categories. It helps to identify the…
Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…
A: Period Cost are costs charged as an expense in the profit and loss account of the period in which…
Q: Ibra factory reports the following costs and expenses in June 2019. Indirect materials OMR 5,400…
A: Period costs: Period costs are not directly related to the production process of a product. Sales,…
Q: Castillo Corporation, a manufacturer, reports costs for the year as follows: Direct Materials Used…
A: Cost is the amount that is incurred from buying a product or the amount used for the production of a…
Q: Chris Company produced and sold 1,000 units during its first month of operations. It reported the…
A: Product cost = Direct materials + Direct labor + Variable manufacturing overhead + Fixed…
Q: G Toy Shop manufactures children's plush toys and incurred the following during the process: (The…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Burnham Industries incurs the following costs for the month: Direct materials $2,000 Direct labor…
A: What is meant by Prime Cost? Prime cost is equal to the sum of direct materials and direct labor…
Q: Davis Corporation reported the following for the month of November: Total hourly wages of plant…
A: Manufacturing overhead cost : It is the indirect cost which is incurred during the manufacturing of…
Q: The owner of Magic Manufacturing, Tom Sawyer, is considering selling his business. He provides his…
A: The question is related to Cost Sheet. The details are given regarding the same. Adjusted Cost of…
Q: Requirements: Answer both questions A. During the year, Bubba Manufacturing Company produced 4,000…
A: Cost of goods manufactured includes direct cost such as direct material, direct labor and factory…
Q: Baird Manufacturing Co. expects to make 30,500 chairs during the year 1 accounting period. The…
A: Overhead recovery rate can be computed by dividing the Total overhead cost by the Total number of…
Q: brahim Corporation has the following estimated costs for the year: Direct Materials Rs. 20,000…
A: Formula used to calculate overhead rate per hour is as follow:
Q: What was the amount of direct materials used in production? b) What was the amount of…
A:
Q: Larkspur Company reports the following costs and expenses in May. Factory utilities $16,000…
A: 1. Manufacturing Overheads - This includes cost incurred in preparation of product indirectly. 2.…
Q: XYZ Co. has provided the following data concerning its overhead costs for the coming year: Wages and…
A: Solution : Activity Rate = Total Overhead / Number of Orders = $232,000 / 510…
Q: Closet Links Clothing Company provided the following manufacturing costs for the month of June.…
A: Total variable costs changes with the level of activity. Total fixed costs remains same within the…
Q: Arrow Manufacturing Co. expects to make 50,000 chairs during the year 1 accounting period. The…
A: Introduction: Manufacturing costs include all resources utilized in the creation of the product.…
Q: First Buy Company provided the following manufacturing costs for the month of June. Direct labor…
A: The variable costs are the costs that changes with change in production units number.
Q: Burnham Industries incurs the following costs for the month: Direct materials $2,200 Direct labor…
A: Ans 1 Particulars Amount Direct materials $2,200 Direct labor $3,100 Total Prime…
Q: ctie Company reports the following costs and expenses in January 2020. Required: From the…
A: solution calculation of total manufacturing overhead , period cost and product cost Period…
Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020:…
A: The following calculations are done in the accounts of Bubba Manufacturing Company as per the…
Q: During its first year of operations, Forrest Company paid $30,000 for direct materials and $50,000…
A: Average cost per unit means the cost incurred to produce one unit. It is calculated by dividing the…
Q: Accenture Chemicals has the following data relating to its factory in the year ended 31 December…
A: Manufacturing overhead means the outlay incurred during the production process.
Q: Knight Company reports the following costs and expenses in May. Factory utilities $17,256…
A: Product costs are those costs which are incurred for manufacturing of product and can be allocated…
Q: Superman Company has the following costs and expenses for the year ending December 21, 2X20. Raw…
A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…
Q: Calculate the predetermined manufacturing overhead rate for the coming year using direct labor hour…
A: Solution Formula used the predetermined manufacturing overhead rate is the overhead rate that is…
Q: Bubba Manufacturing Company provided the following information for the fiscal year to June 30,…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: The following information relates to Curried Away Hot Air Balloons, Inc.: Advertising Costs $ 17,200…
A: A cost sheet is a method of allocating total cost into different categories such as direct material…
Q: In its first month of business, Soles for Souls, Inc., started and completed 5,000 shoes and sold…
A: The Cost of Goods Manufactured refers to the whole production costs of goods which can be completed…
Q: Davis Corporation reported the following for the month of November: Total hourly wages of plant…
A: Note: Administrative and Advertising expenses are not included in the cost of inventory. These…
| Burnham industries incurs the following costs for the month: | ||||||
| Direct materials | $2,000 | |||||
| Direct labor | 3,000 | |||||
| Factory depreciation expense | 3,500 | |||||
| Factory utilities expense | 750 | |||||
| CEO's salary | 4,000 | |||||
| What is the prime cost? | ||||||
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- How would each of the following costs be classified if units produced is the activity base? a. Salary of factory supervisor ($120,000 per year) b. Straight-line depreciation of plant and equipment c. Property rent of $11,500 per month on plant and equipmentThe expected costs for the Maintenance Department of Stazler, Inc., for the coming year include: Fixed costs (salaries, tools): 64,900 per year Variable costs (supplies): 1.35 per maintenance hour Estimated usage by: Actual usage by: Required: 1. Calculate a single charging rate for the Maintenance Department. 2. Use this rate to assign the costs of the Maintenance Department to the user departments based on actual usage. Calculate the total amount charged for maintenance for the year. 3. What if the Assembly Department used 4,000 maintenance hours in the year? How much would have been charged out to the three departments?Wyckam Manufacturing Incorporated has provided the following estimates concerning its manufacturing costs: Direct materials Direct labor Supplies Utilities Depreciation Insurance Fixed Cost per Month $ 42,100 $ 1,200 $ 14,600 $ 11,400 For example, utilities should be $1,200 per month plus $0.25 per machine-hour. The company expects to work 4,000 machine- hours in June. Note that the company's direct labor is a fixed cost. Direct materials Direct labor Cost per Machine- Hour $ 5.50 Required: Prepare the company's planning budget for June. Wyckam Manufacturing Incorporated Planning Budget for Manufacturing Costs For the Month Ended June 30 Supplies Utilities Depreciation Insurance Total manufacturing cost $ 0.30 $ 0.25
- Wyckam Manufacturing Incorporated has provided the following estimates concerning its manufacturing costs: Fixed Cost per Month Cost per Machine-Hour Direct materials $ 5.70 Direct labor $ 42,300 Supplies $ 0.30 Utilities $ 1,000 $ 0.25 Depreciation $ 15,300 Insurance $ 11,700 For example, utilities should be $1,000 per month plus $0.25 per machine-hour. The company expects to work 4,200 machine-hours in June. Note that the company’s direct labor is a fixed cost. Required: Prepare the company’s planning budget for June.Wyckam Manufacturing Incorporated has provided the following estimates concerning its manufacturing costs: Cost per Machine- Hour $ 4.25 Direct materials Direct labor Supplies Utilities Depreciation Insurance Fixed Cost per Month $ 36,800 $ 1,400 $ 16,700 $ 12,700 For example, utilities should be $1,400 per month plus $0.05 per machine-hour. The company expects to work 5,000 machine-hours in June. Note that the company's direct labor is a fixed cost. Required: Prepare the company's planning budget for June. Wyckam Manufacturing Incorporated Planning Budget for Manufacturing Costs For the Month Ended June 30 Budgeted machine-hours Direct materials Direct labor Supplies Utilities Depreciation Insurance Total manufacturing cost $ 0.30 $ 0.05 $ $ 36,000 16,000 1,500 1,650 16,700 1,200 73,050Brooks Company has the following balances for the current month: Direct materials used $24,000 Direct labor $40,000 Sales salaries $19,200 Indirect labor $4,800 Production manager's salary $9,600 Marketing costs $14,400 Factory lease $6,000 What is Brooks' total manufacturing overhead?
- ABC Corporation has the following estimated cost information for the upcoming year: a. Direct materials $100,000. b. Indirect Materials: $20,000. c. Direct labor: $150,000. d. Indirect labor: $70,000. e. Other MOH: $50,000. f. Sales commissions: $25,000. g. Advertising expense: $51,000. h. Rent on factory building: $35,000. i. Rent on office building: $40,000. The company estimated that 10,500 machine hours and 20,000 direct labor hours will be worked during the upcoming year. The company uses direct labor hours as the allocation base. What is the POHR rate for the company?Before the start of the year a company estimated the following costs: $540,000 for factory overhead, $120,000 for selling expenses and $60,000 for administrative expenses. If the estimated number of direct labour hours is 90,000 the factory overhead rate per hour is: Group of answer choices $6.00 $8.00 $1.33 $0.67brahim Corporation has the following estimated costs for the year:Direct Materials Rs. 20,000 Factory Rent Rs. 10,000 Sales Salaries Rs. 50,000 Factory Depreciation Rs. 5,000 Direct Labor Rs. 25,000 Foreman’s Salary Rs. 20,000 Indirect Material Rs. 4,000 Indirect Labor Rs. 3,000 Ibrahim Corporation estimates that 25,000 labor-hours will be worked during the year. If FOH rate is applied on the basis of direct labor hours, the overhead rate per hour will be:
- Jake’s Roof Repair has provided the following data concerning its costs: Fixed Costper Month Cost perRepair-Hour Wages and salaries $ 21,200 $ 15.00 Parts and supplies $ 7.20 Equipment depreciation $ 2,740 $ 0.45 Truck operating expenses $ 5,710 $ 1.80 Rent $ 4,640 Administrative expenses $ 3,890 $ 0.60 For example, wages and salaries should be $21,200 plus $15.00 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,700 repair-hours. The company expects its sales to be $51.00 per repair-hour. Required: Compute the company’s activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month $ 21,200 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Repair-Hour $15.00 $ 7.50 $ 0.50 $ 1.60 $ 2,770 $ 5,710 $ 4,680 $ 3,870 Rent Administrative expenses $ 0.40 For example, wages and salaries should be $21,200 plus $15.00 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,700 repair-hours. The company expects its sales to be $44.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)Aaron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming year to be $770,000 and $500,000, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 17,000 hours and 5,000 hours, respectively. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.) A. $29.41 per labor hour B. $1.54 per labor hour C. $154.00 per machine hour D. $100.00 per machine hour
