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Vikki [24]
3 years ago
10

Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below. Indicate the missing amoun

t for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.) Case A Case B Direct materials used $enter a dollar amount (a) $93,400 Direct labor 56,000 146,100 Manufacturing overhead applied 44,800 enter a dollar amount (d) Total manufacturing costs 150,150 enter a dollar amount (e) Work in process 1/1/20 enter a dollar amount (b) 16,800 Total cost of work in process 205,900 enter a dollar amount (f) Work in process 12/31/20 enter a dollar amount (c) 15,400 Cost of goods manufactured 194,300 enter a dollar amount (g)
Business
1 answer:
ohaa [14]3 years ago
8 0

Answer and Explanation:

As per the given question the solution of missing amount for each letter is provided below:-

                                           Case A           Case B

Direct material used        a $49,350      $93,400

Direct Labor                      $56,000          $146,100

Manufacturing overhead

applied                              $44,800         d $116,880

Total manufacturing

cost                                 $150,150           e $356,380

Work in process 1/1/20  b $55,750        $16,800

Total cost of work in

process                         $205,900         f $373,180

Work in process

12/31/20                       c $11,600          $15,400

Cost of goods

manufactured              $194,300            g $357,780

Working Note

a. Direct materials used = Total manufacturing costs - Manufacturing overhead applied - Direct labor

= $150,150 - ($56,000 + $44,800)

= $150,150 - $100,800

= $49,350

b. Works in process 1/1/20 = Total cost of works in process - Total manufacturing costs

= $205,900 - $150,150

= $55,750

c. Works in process 12/31/20   = Total cost of works in process - Cost of goods manufactured

= $205,900 - $194,300

= $11,600

d. Manufacturing overhead applied = $44,800 ÷ $56,000

= 80%

For case B the manufacturing overhead applied = 80% × $146,100

= $116,880

e. Total manufacturing costs = Direct materials used + Direct Labor + Manufacturing overhead applied

= $93,400 + $146,100 + $116,880

= $356,380

f. Total cost of work in process = Total manufacturing costs + Works in process 1/1/20

= $356,380 + $16,800

= $373,180

g.  Cost of goods manufactured = Total cost of work in process - Works in process 31/12/20

= $373,180 - $15,400

= $357,780

Therefore to reach the missing amounts we simply use the working notes.

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profit made per card sold = $3.75

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mean of customers from each region = 2300

standard deviation for each region = 200

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The optimal production quantity for the card can be calculated going through these steps

first we determine

the cost of card = $0.10 + $0.40 = $0.50

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next we calculate for the z value

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Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV ( 0.8667 )

next we calculate

<em>u</em> = n * mean demand

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б = 200\sqrt{n} = 200 * 2

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Hence optimal production quantity for the card

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= 9200 + 1.110926 * 400

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The correct answer is; October 1st and September 30th.

Further Explanation:

There are approximately 3 types of fiscal years. They are;

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The federal fiscal year always starts on October 1st and will end on September 30th the following year. These are divided into four quarters each year. This will cover a 12 month calendar year.

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4 0
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Answer:

The correct option is A, Samantha weed and Adam will rake because these are the goods each has a comparative advantage in.

Explanation:

The opportunity formula comes handy in this case, which is given below:

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If Samantha were to weed flower beds, opportunity cost is computed thus:

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4 0
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