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zimovet [89]
3 years ago
8

Roen Company incurred an activity cost of $105,600 for inspecting 40,000 units of production. Management determined that the ins

pecting objectives could be met without inspecting every unit. Therefore, rather than inspecting 40,000 units of production, the inspection activity was limited to a random selection of 5,000 units out of the 40,000 units of production. Determine the inspection activity cost per unit on 40,000 units of total production both before and after the improvement. If required, round per unit amounts to the nearest cent.
Business
1 answer:
Lina20 [59]3 years ago
3 0

Answer:

Inspection activity cost per unit on 40,000 units of total production:

1) Before Improvement is $2.64 per unit

2) After Improvement is $0.33 per unit

Explanation:

In order to calculate activity cost per unit we divide activity cost with the total number of units, as calculated below:

Activity cost / Number of Units = Activity cost per unit

105,600 / 40,000 = 2.64

Hence, the inspection activity cost per unit of the total production before improvement is $2.64 per unit.

Now, to determine the activity cost per unit after the improvement we first multiple the current cost per unit with the random sample to calculate the new cost.

Then we divide the new activity cost with the total number of units. This is shown below:

Random Sample of Units x Activity cost per unit = New activity cost

5,000 x 2.64 = $13,200

New activity cost / Number of total units = Activity cost per unit (After Improvement)

13,200 / 40,000 = $0.33

Hence, the inspection activity cost per unit of the total production after improvement is $0.33 per unit.

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Answer and Explanation:

The journal entries, posting and preparation of the paid-in capital section of stockholders’ equity is presented below:

a. The journal entries are shown below:

On Jan 10

Cash $302,000  

        To Common Stock  $151,000 (75,500 shares × $2)

        To Paid in Capital in Excess of Stated Value-Common Stock $151,000

(Being the issuance of the common stock is recorded)  

On Mar 1

Cash $593,250  (5,650 shares × $105 )

               To Preferred Stock  $565,000 (5,650 shares × $100 )

               To Paid in Capital in Excess of Par-Preferred Stock $28,250  

(Being the issuance of the Preferred stock is recorded)  

On Apr 1

Land $83,000  

               To Common Stock  $50,000 (25,000 shares × $2)

                To Paid in Capital in Excess of Stated Value-Common Stock $33,000  

(Being the issuance of the common stock is recorded)  

On May 1

Cash $359,125  (84,500 shares × $4.25)

         To Common Stock  $169,000 (84,500 shares × $2)

         To Paid in Capital in Excess of Stated Value-Common Stock $190,125  

(Being the issuance of the common stock is recorded)  

On Aug 1

Organization expenses $41,000  

           To Common Stock  $22,000 (11,000 shares × $2)

            To Paid in Capital in Excess of Stated Value-Common Stock  $19,000  

(Being the issuance of the common stock is recorded)  

On Sep 1

Cash $60,000  (10,000 shares × $6)

       To Common Stock    $20,000 (10,000 shares × $2)

       To Paid in Capital in Excess of Stated Value-Common Stock $40,000

(Being the issuance of the common stock is recorded)    

On Nov 1

Cash $277,500  (2,500 shares × $111)

           To Preferred Stock  $250,000 (2,500 shares × $100)

           To Paid in Capital in Excess of Par-Preferred Stock  $27,500

(Being the issuance of the common stock is recorded)  

b. The T accounts of the above accounts are presented below:

                                     Preferred Stock

                                                             Mar 1        $565,000

                                                             Nov 1       $250,000

                                                            Balance    $815,000

                                     Common Stock

                                                             Jan 10     $151,000

                                                             April 1      $50,000

                                                             May 1       $169,000

                                                             Aug 1       $22,000

                                                             Sep 1       $20,000

                                                            Balance    $412,000

                         Paid in capital in excess of par - Preferred stock

                                                             Mar 1        $28,250

                                                             Nov 1       $27,500

                                                            Balance    $55,750

                      Paid in capital in excess of stated value - Common stock

                                                            Jan 10     $151,000

                                                             April 1      $33,000

                                                             May 1       $190,125

                                                             Aug 1       $19,000

                                                             Sep 1       $40,000

                                                            Balance    $433,125

c. Now the preparation is presented below:

                                     Bramble Corporation

                                     Balance Sheet Partial

                                   As of December 31, 2020

Stockholders Equity

Capital Stock

Preferred Stock             $815,000

Common Stock             $412,000

Total Capital Stock                           $1,227,000   (A)

Additional Paid in capital

Paid in Capital in Excess of Par-Preferred Stock $55,750

Paid in Capital in Excess of Stated Value-Common Stock  $433,125

Total Additional Paid in Capital        $488,875   (B)

Total Stockholders Equity                 $1,715,875   (A + B)

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