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soldi70 [24.7K]
4 years ago
12

Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $

2 per labor-hour. Strawberry and vanilla flavors are produced in Department SV. Chocolate is produced in Department C. Sven manages Department SV and Charlene manages Department C. The product costs (per thousand gallons) follow:
Strawberry Vanilla Chocolate
Direct labor (per 1,000 gallons) $ 766 $ 841 $ 1,141
Raw materials (per 1,000 gallons) 816 516 616
Required: .
1. If the number of hours of labor per 1,000 gallons is 60 for strawberry, 70 for vanilla, and 100 for chocolate, compute the total cost of 1,000 gallons of each flavor using plantwide allocation. (Omit the "$" sign in your response.)
Business
1 answer:
attashe74 [19]4 years ago
8 0

Answer:

$1,702 , $1,497, and $1,957

Explanation:

The computation of the total cost is shown below:

Particulars Strawberry Vanilla Chocolate

Direct Labor $766          $841  $1,141

Direct Material  $816          $516  $616

Overhead   $120               $140        $200

                        (60 × 2)           (70 × 2)   (100 ×2)

Total Cost   $1,702           $1,497    $1,957

We simply added the direct labor cost, direct material cost and the overhead cost so that the total cost could come

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Bramble Corp. had 2500000 shares of common stock outstanding on January 1 and December 31, 2021. In connection with the acquisit
ASHA 777 [7]

Answer:

$1.47

Explanation:

Diluted earnings per share = Earnings before preferred stock dividends ÷ Weighted Average Number of Common Stock Outstanding

<em>where,</em>

<u>Earnings before preferred stock dividends is calculated as :</u>

Net Income                                                                   $3,470,000

Add Preferred Stock Dividends                                      $195,000

Earnings attributable to Common Stock holders      $3,665,000

<u>Weighted Average Number of Common Stock Outstanding is calculated as </u>:

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therefore,

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3 0
3 years ago
Concertville is hosting a series of outdoor concerts in the park. The concert series will cost the city $500 to host. City offic
Ivahew [28]

Answer:

$6.25 per person.

Explanation:

This can be calculated as follows:

Expected number of people = 100

Expected number of people that would free ride = 20

Number of expected people to pay = Expected number of people - Expected number of people that would free ride = 100 - 20 = 80

Cost to charge per person = Total cost / Number of expected people to pay = $500 / 80 = $6.25 per person.

Therefore,  city officials should charge  $6.25 per person for the concert series in order to cover the $500 expense.

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3 years ago
Departures from Acquisition Cost Determine the proper total inventory value for each of the following items in Packer Company’s
irakobra [83]

Lower of cost or Market

The historical cost is 260

So we need to find the market value

First we have to determine the floor and ceiling

(NRV)Ceiling = selling price - cost to complete and disposal =$310

Floor=NRV-normal profit margin = 310-(0.35*310)=$201.5

Market price cannot be above ceiling or below floor so we should use the current replacement cost of $240

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5 0
4 years ago
Echo Corporation uses a job-order costing system and applies overhead to jobs using a predetermined overhead rate. During the ye
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Answer:

Actual overhead= $153,400

Explanation:

Giving the following information:

During the year the company's Finished Goods inventory account was debited for $360,000 and credited for $338,800. The ending balance in the Finished Goods inventory account was $36,600.

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If the applied manufacturing overhead was $169,300.

Because the manufacturing overhead was overapplied, we need to subtract from the applied overhead to determine the actual overhead.

Actual overhead= applied overhead - overapplied overhead

Actual overhead= 169300 - 15900= $153,400

5 0
3 years ago
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