NUCYTAIS —Soingon: “old” fest exam #3 1 somite ct tn oe ve Ad St wm Ga, Fa yorios Fa Standard conte shouldbe revised when they dir fom act costs, JUS becoy se yay miss charge FF 2. The standard cost is product should cost to manus a FS. Mestad costistow mech pine hoa egetommiiean, Oe TOGT Mv thete Charee, AA 4, pein stineae wena tine ctamity tena ip feb bos arabe = iamrtage i See Cos Nees mente oc te ces = cash dales budget p iret materia pucinses “SG For emo els revenue i 00000; mes commision ae 5% of sles he ales manager aye S360 adverising expenses ce $8000; shipping expense fl 2% of tales end misao Cong, Haag aN tn ei ecco ‘157.100 0 $223,100 In (09,000 x08, q $183,750 Sdles Man.Sa). o 1620, a dene 000, SHY BEC too 000) cere) B mpotetenwicenonetnre tea eie ns x2) $100 7 Pepa a 2 tia ms © Dicer mstasisprcasns, det bor coy lay omer crt 223 | © Sito ante & Sinai AD § etter saw ETRE te ra pt Sandia cos 7800 noun 811.60 ‘ade Sooo howe 81200 ‘Waist dc aber tine vain? "Sado ere © totam OL OF a koe A, XS Go eare. Cae 1.60 IQ HE XI D= (9.400 =AB ase ing ttn sinr nts nit et et B © 4h restr cone tata samiicnre of 2510 us pedo ew lows ‘Standard Costs eee ameiemen oe seca acs reer PEsee are io sees Se pu oie Mest sot Gm pine . ‘otal variable cost, $18,000 BY erie ‘Total fixed cost, $8,000, r™ Desa et : a es SAS SH ($800 unfavorable Xx © $800 favorable 5875 unfavorable (2s. Es = +}. Weight Corporation began its operations on 1 ofthe current ye, Budget les forthe ste ‘onthe of business are $240,000, $300,000, an $420,00, respectively, far Soptember, Octo, ead Baan ct © Reztoo Cash Sales "A ‘aldo 4d. St68000 = 3 Colwechans 0 Acest. 240.00 802 aecHx V7 Colle costs for direct materials, direct labor, and factory overhead forthe I") same mo ‘Stundard Coste Dineot materials Diteet labor 2,600 Iilograms 58.75 ~ 7400 hours @ $11.40 Actunl Costs Disest materials Diveat labor Factory overhead (100% espacity- 10,000 fre): Varnble cost @ $2.08 per hour ‘Total variable eos, $18,720 Fined cost @ $3 per hour Total fixed cos, $8,320, ‘Tee mount f Gece eva): 81,695 $1,850 favorable @ $1,875 favorable $1,950 unfavorable 2,500 Iilograms @ $8 7,500 hours @ $12 DA -of) “Pace i SoM) * Su 96-3? x 25D DanCas. Mint costs 432 tt sav Ho. foitwng Ho - Fa cou en en me eet Pe te See ret Cry 20, $195 20, ea $217 00, respectively for Ap May, a Tne. wan propery tenes repreent $28,800 ofthe eatmnaied monthly menufisring cos. Frenne wes pid on Mach 31 and property cs “Tee for he ‘Eider of te manfactrng cots re exe : ter elon to be pain te ftowing mon. S sss a 135209 POS, SI AES bs) ie $146,400 prod Oly Hhe. 25D Teh 4OO 4 (2480 Cg ‘nitrate ting cnt nay won tt mt hl is Wc of oe lowing endo rel pod sections a espnding HORT A 1 ERE sinc er nen cnt which neues te ty Wages 08 average By $2.00 an hour. = s Sasa es difeed from standard cons forthe preseding week. NO} NeCESSA ‘The word pice of raw materials incteased.— A, Co un crstn a in (ey te i ol eas ase) ug. iti nan ee as PS presi cctt) be co, ia 8) ete let Units + Gesaar sed Seles budget Pravedg,., Bi. gy tm ttrig in reste tama Standard cote {6,900 hours at $12.00, ‘oot sit 6G} S000 tenne ante $17,400 unfavorable & Sato vonble SA) 11,60 ) Xx TSO = Swr tac Goer ss sng roc get es yi He ate be RO ag ein Un nn aed mig iy OO me OES a at Sted tw mn a) fo besold Holt oti, mnemeianmm tee . Neel eee ee «= PE ad ‘Material C 1.20 Ib. per unit @ $1.00 per pound ~ Beg tw Kia) ee A pre ea ee) eins fo be ped. 2.08 Bit = Bam nleviol AB G622L00%45 bs X bo age Devices erunk per lb ?JP? Below is budgeted production and snes information for Plening Company forthe month of Decems Produ xXX — Boduet 277 [Estimated beginning inventory 30,000 units “18,000 units Desired ending inventory 32,000 units 15,000 units ‘Region | anticipated sales 320,000 unite 260,000 units ‘Region I, entitputed sles 190,000 wits 130,000 units “The uit selling price for produot 220% ie $S and for product 272 is $14, Budgeted production for product XK during the moath is: ‘$10,000 mits 512,000 units $42,000 units & 572,000 units - MeCabe Manufacturing Co.'s statc budgets 000 units of production includes $40,000 fr dies shor and ‘4,000 fr eletric power. Total fixed costs ae $23,000. At 9,000 units of produotion, «flex budget ‘would show: ‘yriable ost of $49,500 and 325,875 of fixed costs ‘arable costs of $44,000 and $23,000 of fixed costs ‘arable costs of $49,500 and $23,000 of fixed cosis ‘rable and fixed costs totaling $75,375 eoee- Froblems — oes Standard cost and actual cots incurred for the manufacture of 8,000 wnits of product were as fellows: ‘Standard Costs ‘Actual Cons ioct materials: £000 Tbs. @ $30.00 1,150 be. @ $30.20 Direct abor: 10,000 hours @ $36.00 10250 hours @ $38.00 Factory overbead: Rates pr direct labor hou, ‘based on 100% capacity of 16,000 labor hours: ‘Variable cost $15.00 $5189400 total varisble cost ixod cost $10.00, $100,000 total fixed cost Determine () the quantity variance, prio vacance, and ttl reat atria cost vince) he tne ‘evince aren, nd ttl diect bor cost vrace: ‘Based on the following production and sas data of Conerote Co. for March of the xrrent yar, prepare (8) sles budget and (0) a production budeet. Product T ‘inated inventory, March 1 77,000 waite 21,00 its Deesivod inventory, Mare 31 32,000 units 15,000 its “Eppeoted sales volume: Aral 310,000 units 250,000 nits Aca 190,000 units 130,000 units Unit sales price $6 $14 «Trapp Co. was orgmzed on Avigust 1 ofthe curent yer. Projected sles forthe next three months area follows: Avgust $200,000 September es, 000 October 225,000 “The company expects to sell 35% ofits merchandise for cash, Of the sales on acount, one thd are expected to be collected in the month of tho ale and the reminder inthe following month Prepere schedule indicating cash ootostons for Augusta Dore in Classtrdout mw Fach. Bobwms JGbach sas, 35005 Wotuchors on tec i a: Ae face IE acg OE i ia i COE swan oshle 5000VYeview te tert Schmid’ Malor Company began operations on January 1, 2013. Cost and sales information for its first two calendar years are summarized below: Manufacturing coste: Direct tells $50 per unit Direct aber Seo Foran Per ehand sets rte for “i Stoperunt rod overhead SEDI Ipo.oa0= 10 Perent Nonmanufacturing costs: Variable selling and administrative $10 per unit Fixed selling and administrative $5,000,000 Production and sales dat Units produced, 2013 100,000 units Units sold, 2013 {80,000 units, A=2000 Sales price per unit $500 per unit x © Required: 200,000 1. Prepare an income statement forthe company for 2013 under absorption coating. 2. Prepare an income statement forthe company for 2013 under variable costing. Absor Phony ve SaleS Yoooxo= 4.000; Sas Yo.000 CoO a yas 6,800, cae pe me yoncee = Coes O 00004 95= 7.600, om 32.409.000 = Alsi} (,000 006 FC hoped 002. 0OB 4 pA + ee MN Fou 9 ane 284 10+10=95‘Adaitional Problems fr extra practice Cnt Dish. 1 class)Chapter 20 Alternate Demonstration Problem #1 ABC Company started business on January 1, 2013, The company estimated that sales for the first six months would be as follows: Month Units Dollars January 10,000 $ 50,000 = ~ February 8,000 40,000 March 1,000 76,000 |, aad Apol Nov %5000 The company sells all items (Ci _aecound and expects collections of accounts receivable to be as follawe: 60% in the month of the salo, and the remaining 40% in the month after the sale. BR. Required: 4 1? MO Next Ho (@) Compute the expected cash collections dufing the months of January, February, March,, (b) The company has decided that finished goods inventory at the end of each month should ideally be equal to 40% of next month's sales. What should budgeted production be for each of the first far months? (c) It takes two pounds of raw material to make one unit of finished Product. The company wants to keep an ending inventory of raw material equal to 30% of next month’s production needs. How many pounds of raw material should be purchased in each of the first three months? The raw material costs $2 per pound. Prepare a raw materials Purchases budget for January and February. Productun budyet~ (® J e (8 Alene Sals — (ow 000 | wld) Pap rgoc0 + pS remo) x Home Me e0ee “! Se = M (sm) a KR Se 1b Bn wry(Chapter 21 XYZ Company manufactures tables. A standard cost card for the manufacture of one table shows the following: ‘Standard Cost per Table: Direct material: 4 sq.ft. @ $3/sq. ft. $12 Direct labor: 2 hours @ $8/hr Total prime costs In November, the company produced 1,000 tables. (Actual production took 2,300 direct labor hours and3,000/squaro feet of lumber. The lumber cost $12,090 while the workers’ average pay was $7.80 per hour. Required: Calculate the price and quantity variances for direct material and direct labor. Flo O01. Pe Pee 6A)-%. Ged i “ BRIO xe} 3-38U x A Ap0d — 3900 105 Fe?) won FY S coir) Z00F -- = 10x 340d = so * NUREARSE A UGePRERORBSNRERRAONGRGRREE, 40 UV bu 2 7 NEA) KA = fy Si Cee Te eee eS 8-72 x 20D B00.) % 1d 2200