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+--- Thread: I have test questions i need help with!!! please (/showthread.php?tid=3574)
I have test questions i need help with!!! please - saida - 07-19-2006
Im having a test on these type of problems please help me out with answers and how you got them =) it will help me out study for the exam!!!!
Problem 1
The estimated total manufacturing overhead cost and total direct labor cost for department G for the current year are 270,000 and 360,000, respectivel. During July, the first month of the current year, actual direct labor cost totaled 32,000, and manufacturing over costs incurred totaled 23,120.
Required Present the general journal form to apply manufacturing overhead to production in Department G for July.
Problem 2
Allison industries began April with 6,000 units in work in process in its third department, 30% complete as to conversion costs. No new materials are added in this department. During April, 21,000 units were transferred from the second department, and 4,000 remained in process at April 30. The ending work in process was 80% complete as to conversion costs.
Required Compute the equivalent units for conversion costs in April for the third department of Allison Industries using the weighted average method.
Problem 4
The estimated total manufacturing over cost and total machine hours for department 40 for the current year are 135,00 and 67,500 respectively. During January, the first month of the current year, actual machine hours used totaled 6,000 and manufacturing overhead cost incurred totaled 12,310.
Required Answer all four parts
1. Determine the manufacturing overhead rate based on machine hours
2. Present the journal entry to apply manufacturing overhead to production in department 40 for January.
3. Compute the balance of manufacturing overhead-department 40 at January 31.
4. Does the balance of Manufacturing overhead-department 40 at January 31 represent over applied or under applied manufacturing overhead?
Problem 3
Accutech Manufacturingâs cost accounting department has calculated the following equivalent production figures for August
<u>Physical <u>Equivalent Units</u>
Units </u> <u>Materials conversio</u>
Completed production
Beginning work in process 900 _ 600
Units started and completed 2600 2600 2600
Ending work in process 1500 1500 1500
Totals 5000 4100 4200
Prior period costs pertaining to the August 1 work in process inventory amounted to 4500. Current costs per equivalent unit are
Materials, 3.50; conversion 5.00
Required Determine the cost of production completed in August using FIFO method.
- saida - 07-19-2006
can anyone please help me!
- Abdur.Rehman - 07-19-2006
actually u have pasted the whole paper..
it is recommended that u shud ask only the problem areas...
anyways i will answer when i get time. may b on weekend..
- Shoaib Ansari - 07-20-2006
answer for problem 4
1) manufacturing overhead reat Rs. 2/-
2) Manufacturing Overhead (DR)12,000
Unfavorable variance (DR) 310
Cash / Account Payable 12310
3) 310
4) Underapplied
[)]
- Muhammad_Ali - 07-25-2006
Good that's the real use of forum.
- saida - 07-26-2006
Thank shoaib =) your awesome!!!!!!!
- saida - 07-26-2006
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Abdur.Rehman</i>
<br />actually u have pasted the whole paper..
it is recommended that u shud ask only the problem areas...
anyways i will answer when i get time. may b on weekend..
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
well its better to be sure and get help then be unsure and fail =) its really nice if you can help but if you cant its ok =)
we actually get this off the study guides =) we get one for each chapter and i dont have any friends in the summer program to help me out, so i decided to post them here.
- saida - 07-26-2006
have to deal with this type of problems so please tell me how you got it to compare with my results =) it would be great please!!
Problem1
The folowing standards pertain to Breez company's main product, an electric fan
Direct Materials standards
Metal parts 2 sets @ $7.50/set
Electrical parts 1set@ $8.50set
Direct labor standards 1.6 direct labor hrs per fan @ $9.75/direct labor hour
Standard manufacturing overhead rates
Variable #3.00/direct labor hour
Fixed $4.10/direct labor hour
REquired answer both parts
1. compute the standard cost of one fan.
2. this fan sells for $65. Is this an adequate selling price? defend your answer.
___________________________________________________________
Problem 2
Logan company sells its main product for $9 per unit. Variable cost is $5.80/unit. Fixed expenses are $250,000 per month for volumes up to 95,000 units. Above 95,000 units monthly fixed expenses are $300,000.
Required Prepare a monthly flexible budget showing sales, variable expenses, fixed expenses, and operating income for Logan for volume levels of 90,000; 100,000 and 110,000 units.
____________________________________________________________
Problem 3
Burdette company has the following information
Total materials variance $2,386 unfavorable
Materials usage variance $2,800 unfavorable
Actual price per gallon $7.96
Required compute the materials price variance assuming that there was no change in the amount of inventory of this material during the period.
- Shoaib Ansari - 07-28-2006
thanks for comments....
answer for 1 is
per unit 50.46 ( 15+8.5+15.6+4.8+6.56)
profit per unit is Rs. 14.54 and 22%. so justifiable...
answer 2 written in level as defined in question...figer in '000
Sales - V cost - F cost = Profit
1) 810 - 522 - 250 = 38
2) 900 - 580 - 300 = 20
3) 990 - 638 - 300 = 52
hope the answer is understandable
[)]
- saida - 07-28-2006
Thanks my test is tonite =) can you happen to help me with the other ones please!
- Shoaib Ansari - 07-29-2006
on the basis of above provided information the
price variance will be 414 favorable ..
- saida - 08-07-2006
i got 100% thank u shoiab.