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Bloom’s has the following estimates for the upcoming year:

atroni [7]

Bloom’s has the following estimates for the upcoming year:

Activity Cost Pool Estimated Overhead Cost Activity Rate

Machine-hours $63,450 $2.70 per machine-hour

Machine setups $45,900 $170 per setup

Product testing $119,000 $119 per test

Cost and activity information for two of Bloom’s products is as follows:

P34 W85

Direct materials $33,500 $29,750

Direct labor $18,500 $26,000

Machine-hours 1,470 1,170

Machine setups 22 77

Tests 47 47

Number of units

produced during the year 10,000 25,000

Required:

Compute the unit product cost for product P34.Bloom’s has the following estimates for the upcoming year:

Activity Cost Pool Estimated Overhead Cost Activity Rate

Machine-hours $63,450 $2.70 per machine-hour

Machine setups $45,900 $170 per setup

Product testing $119,000 $119 per test

Cost and activity information for two of Bloom’s products is as follows:

P34 W85

Direct materials $33,500 $29,750

Direct labor $18,500 $26,000

Machine-hours 1,470 1,170

Machine setups 22 77

Tests 47 47

Number of units

produced during the year 10,000 25,000

Required:

Compute the unit product cost for product P34.Bloom’s has the following estimates for the upcoming year:

Activity Cost Pool Estimated Overhead Cost Activity Rate

Machine-hours $63,450 $2.70 per machine-hour

Machine setups $45,900 $170 per setup

Product testing $119,000 $119 per test

Cost and activity information for two of Bloom’s products is as follows:

P34 W85

Direct materials $33,500 $29,750

Direct labor $18,500 $26,000

Machine-hours 1,470 1,170

Machine setups 22 77

Tests 47 47

Number of units

produced during the year 10,000 25,000

Required:

Compute the unit product cost for product P34.

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8 0

4 years ago

Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, t

Daniel [21]

Answer:

1. Longhorn Corporation

Income Statement

For the year ended December 31, 2021

Service Revenue $71,700

Cost of goods sold 54,200

Gross profit $17,500

Operating expenses:

Delivery expense 3,400

Salaries expense 6,300

Operating income $7,800

2. Longhorn Corporation

Stockholder's Equity

As of December 31, 2021

Capital Retained Earnings Total

1-Jan-21 $22,000 $9,400 $ 31,400

Issuance of share 2,200 2,200

Net income 7,800 7,800

31-Dec-21 $24,200 $17,200 $41,400

3. Longhorn Corporation

Balance Sheet

As of December 31, 2021

Asset

Current Assets

Cash $1,300

Supplies 1,600

Total current assets 2,900

Non-current assets

Equipment 20,000

Buildings 22,000

Total non-current assets 42,000

Total assets $44,900

Liabilities and Equity

Current liability

Accounts payable $2,600

Salaries payable 900

Total current liabilities $3,500

Total liabilities $3,500

Equity

Capital stock $24,200

Retained earnings 17,200

Total equity $41,400

Total liabilities and Equity $44,900

Explanation:

1. Income Statement

In preparation of Income statement, we must closed all nominal accounts with it starts from revenue and deduct all expenses to arrive the operating income. It is important that we never forget the headings consists of Name of the company, What schedule to prepare and what period it is applicable for.

2.Statement of changes in Equity

In preparation of statement of changes equity, all transaction affecting the corporation's capital will be presented here. Begins with the capital, add additional issuance and the net income for the period that will be closed to retained earnings.

3. Balance sheet

This schedule presents the corporations real accounts. Started from assets, liabilities and the Equity. It is important that we never forget the headings consists of Name of the company, What schedule to prepare and what period it is applicable for.

8 0

3 years ago

30 points question is easy

White raven [17]

30 points question is easy

so?

3 0

2 years ago

Critical thinkers I need ur help

mario62 [17]

One could argue that the Titled Arc was helpful in focusing perceptions to illicit a negative response. Am example of the negative response can be seem in complaints from workers near the Titled Arc, these employees called the arc oppressive.

4 0

3 years ago

Which type of forms and others documents would you need in order to open a checking or banking account ?describe two examples

coldgirl [10]

answer:

The documents needed to open a bank account are:

1. identity document

2. document proving the address

5 0

3 years ago

Read 2 more answers

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