Part I.......Given the following information, prepare a cost of production report for Department B for July. [70 points]
Johnstone Chemicals manufactures its products in two departments [A and B]. Data for Department B is listed below:
Units transferred from Department A...................................40,000
Per unit cost.........................................................................$3.20
Units transferred to finished goods......................................26,000
Units still in process [1/3 complete].......................................6000
Costs added by Department B:
Labor...............................................................................$31,500
Factory overhead..............................................................$23,100
All lost units are considered to be normal.
Part II......Determine the factory overhead rates. Round money to the nearest cent and rates to the nearest percent. Label your answers. [30 points]
The XYZ Co. estimates its factory overhead for the year to be $58,000. They further estimate they will produce 38,000 units at a material cost of $48,000. Production will require 20,000 direct labor hours at an estimated cost of $100,000. Machines will work 1500 hours.
Find the following predetermined rates:
· material cost
· per unit cost
· machine hour cost
· direct labor cost
· direct labor hour cost
Part III..............[25 points]
Answer the following questions.
1. What is the purpose of equivalent units? How do they differ from good units?
2. Explain the use of a quantity schedule. Who gives us the information regarding the percentage of units completed in a department?
3. How do applied factory overhead rates differ from applied factory overhead itself?
National Nutrient Database for Standard
Reference
Release 25
NDL
HomeFoods ListGround Beef CalculatorSR25 DocumentationHelpFood Group
American
Indian/Alaska Native Foods (165) Baby
Foods (333) Baked
Products (785) Beef
Products (785) Beverages
(279) Breakfast
Cereals (372) Cereal
Grains and Pasta (184) Dairy
and Egg Products (254) Fast
Foods (395) Fats
and Oils (220) Finfish
and Shellfish Products (266) Fruits
and Fruit Juices (327) Lamb,
Veal, and Game Products (353) Legumes
and Legume Products (378) Meals,
Entrees, and Sidedishes (95) Nut
and Seed Products (129) Pork
Products (341) Poultry
Products (337) Restaurant
Foods (55) Sausages
and Luncheon Meats (234) Snacks
(171) Soups,
Sauces, and Gravies (515) Spices
and Herbs (61) Sweets
(344) Vegetables
and Vegetable Products (816)
Getting started with your search
Enter one or more terms and click 'Go' for a
new search
8,194 foods found: Click on a food name to view
details
NDB
No.DescriptionFood
Group01026Cheese,
mozzarella, whole milkDairy and Egg Products01027Cheese,
mozzarella, whole milk, low moistureDairy and Egg Products01028Cheese, .
1. Part I.......Given the following information, prepare a cost of
production report for Department B for July. [70 points]
Johnstone Chemicals manufactures its products in two
departments [A and B]. Data for Department B is listed below:
Units transferred from Department
A...................................40,000
Per unit
cost.........................................................................$3.20
Units transferred to finished
goods......................................26,000
Units still in process [1/3
complete].......................................6000
Costs added by Department B:
Labor...............................................................................$31,
500
Factory
overhead..............................................................$23,100
All lost units are considered to be normal.
Part II......Determine the factory overhead rates. Round money
to the nearest cent and rates to the nearest percent. Label your
answers. [30 points]
The XYZ Co. estimates its factory overhead for the year to be
$58,000. They further estimate they will produce 38,000 units at
a material cost of $48,000. Production will require 20,000 direct
labor hours at an estimated cost of $100,000. Machines will
work 1500 hours.
Find the following predetermined rates:
· material cost
· per unit cost
· machine hour cost
· direct labor cost
· direct labor hour cost
Part III..............[25 points]
Answer the following questions.
2. 1. What is the purpose of equivalent units? How do they differ
from good units?
2. Explain the use of a quantity schedule. Who gives us the
information regarding the percentage of units completed in a
department?
3. How do applied factory overhead rates differ from applied
factory overhead itself?
National Nutrient Database for Standard
Reference
Release 25
NDL
HomeFoods ListGround Beef CalculatorSR25
DocumentationHelpFood Group
American
Indian/Alaska Native Foods (165) Baby
Foods (333) Baked
Products (785) Beef
Products (785) Beverages
(279) Breakfast
Cereals (372) Cereal
Grains and Pasta (184) Dairy
and Egg Products (254) Fast
Foods (395) Fats
and Oils (220) Finfish
and Shellfish Products (266) Fruits
and Fruit Juices (327) Lamb,
Veal, and Game Products (353) Legumes
and Legume Products (378) Meals,
3. Entrees, and Sidedishes (95) Nut
and Seed Products (129) Pork
Products (341) Poultry
Products (337) Restaurant
Foods (55) Sausages
and Luncheon Meats (234) Snacks
(171) Soups,
Sauces, and Gravies (515) Spices
and Herbs (61) Sweets
(344) Vegetables
and Vegetable Products (816)
Getting started with your search
Enter one or more terms and click 'Go' for a
new search
8,194 foods found: Click on a food name to view
details
4. NDB
No.DescriptionFood
Group01026Cheese,
mozzarella, whole milkDairy and Egg
Products01027Cheese,
mozzarella, whole milk, low moistureDairy and Egg
Products01028Cheese,
mozzarella, part skim milkDairy and Egg
Products01029Cheese,
mozzarella, part skim milk, low moistureDairy and Egg
Products01030Cheese,
muensterDairy and Egg Products01031Cheese,
neufchatelDairy and Egg Products01032Cheese,
parmesan, gratedDairy and Egg Products01033Cheese,
parmesan, hardDairy and Egg Products01034Cheese,
port de salutDairy and Egg Products01035Cheese,
provoloneDairy and Egg Products01036Cheese,
ricotta, whole milkDairy and Egg Products01037Cheese,
ricotta, part skim milkDairy and Egg Products01038Cheese,
romanoDairy and Egg Products01039Cheese,
roquefortDairy and Egg Products01040Cheese,
swissDairy and Egg Products01041Cheese,
tilsitDairy and Egg Products01042Cheese,
pasteurized process, American, fortified with vitamin
DDairy and Egg Products01043Cheese,
pasteurized process, pimentoDairy and Egg
Products01044Cheese,
pasteurized process, swissDairy and Egg
Products01045Cheese
food, cold pack, americanDairy and Egg
Products01046Cheese
food, pasteurized process, American, vitamin D
fortifiedDairy and Egg Products01047Cheese
food, pasteurized process, swissDairy and Egg
Products01048Cheese
5. spread, pasteurized process, AmericanDairy and Egg
Products01049Cream,
fluid, half and halfDairy and Egg Products01050Cream,
fluid, light (coffee cream or table cream)Dairy and Egg
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