Cumberland Furniture Company manufacturing unfinished oak furniture. Cumberland uses a standard cost system. The direct labor, direct
Question:
Cumberland Furniture Company manufacturing unfinished oak furniture. Cumberland uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dinning room table are as follows:
(a) Determine the standard cost per dining room table.(b) Why would Cumberland use a standard cost system?
Transcribed Image Text:
Direct labor: standard rate standard time per unit standard price standard quantity standard rate standard rate $16.00 per hr. 1.8 hrs. $12.50 per bd. ft. 17 bd. ft. $2.40 per direct labor hr. $1.10 per direct labor hr. Direct materials (oak): Variable factory overhead: Fixed factory overhcad:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 56% (16 reviews)
a Direct labor 1600 18 hrs 2880 Direct materials 1250 7 bd ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Accounting questions
-
Sorrento Furniture Company manufactures unfinished oak furniture. Sorrento uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining...
-
A Co. has annual fixed Costs Of % 1,40,000. In 2012 sales amounted to 6,00,000, as Compared with 2% 4,950,000 in 2011, and profit in 2012 was 2 42,000 higher than that in 2011. i) At what level of...
-
Franklin Furniture Co. uses a standard cost system in accounting for its production costs. The standard cost of a unit of furniture follows: Lumber, 100 ft @ $150 per 1,000 ft . . . . . . . . . . . ....
-
The following data represent the amount of time (in minutes) a random sample of eight students took to complete the online portion of an exam in Sullivan's Statistics course. Compute the mean,...
-
How is the accounting for admission to a partner- ship by purchase of a partner's interest different from the accounting for admission by an investment of assets in the partnership? In your...
-
The shaft is supported by a smooth thrust bearing at B and a journal bearing at C. Determine the resultant internal loadings acting on the cross section at E. - 4 ft 4 ft +4 ft- 4 ft- 400 lb 800 lb
-
1. Recent consumer surveys suggest that the three most important qualities of a retail operation are price, product (quality and selection), and convenience. Based on that information, describe how...
-
Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000...
-
What is the present value of the following future amount? $488,901 to be received 13 years from now, discounted back tothe present at 5 percent, compounded annually? Round the answer to two decimal...
-
You are the digital marketing director for High West fashions, a regional clothing company that specializes in custom t-shirts. Your company has decided to launch an online advertising campaign that...
-
Geneva Chocolate Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,000 bars) are as...
-
Pet Bottle Company (PBC) manufactures plastic two-liter bottles for the beverage industry. The cost standard per 100 two-liter bottles are as follows: Cost Category Standard Cost Per 100 Two ???...
-
On April 20, 2014, Ralph purchased used equipment to be used in his farming business. The cost of the equipment is $150,000. Ralph does not elect immediate expensing under 179, nor does he elect not...
-
Acme Company produces a single product. Here is data regarding Acme's first year of operations: Selling price, per unit $164 Units produced Units sold Variable costs per unit: Direct materials 9,600...
-
Provide an actual example to illustrate how International AIDS society engages in ethical treatment of employees and show that the benefits outweigh the costs. Also explain that this is contributes...
-
make the corrections in the conclusions section according to the objectives of this topic, this is my work for my company Topic: DESIGN OF A DIGITAL ADVERTISING STRATEGY ON SOCIAL NETWORKS TO...
-
Module 6 discusses building value according to the needs and desires of customers, from the beginning of the production process to the delivery of that value to consumers. Holistic marketers are...
-
You have taken out a 60-month, $23,000 car loan with an APR of 4%, compounded monthly. The monthly payment on the loan is $423.58. Assume that right after you make your 50th payment, the balance of...
-
As the number of assets in an equally weighted portfolio increases, the contribution of each individual assets variance to the volatility of the portfolio: A. Increases. B. Decreases. C. Remains the...
-
For each of the following transactions, indicate whether it increases, decreases, or has no effect on the following financial ratios: current ratio, debt-to-equity ratio, profit margin ratio, and...
-
According to Benfords Law, the first digit of natural sets of numbers will begin with a 9 more often than with an 8. (True/False)
-
The following were selected from among the transactions completed by Calworks Company during April of the current year: Apr. 3. Purchased merchandise on account from Prescott Co., list price $42,000,...
-
The following selected transactions were completed during August between Salem Company and Boulder Co.: Aug. 1. Salem Company sold merchandise on account to Boulder Co., $28,600, terms FOB...
-
Selected transactions for Silvertree Company during January of the current year are listed in Problem 6-4B. Instructions Journalize the entries to record the transactions of Silvertree Company for...
-
Implement the definition of the function rotate ToLeft(), member of the DArray class, so that it rotates all the elements of the array object to the left by one position. Example: [6, 2, 5, 3] [2, 5,...
-
Write the definition of the of the function is Full() as a member function of the DArray class. The function returns true if the array is full, or false otherwise. Functions.cpp 1 #include "DArray.h"...
-
Write a program that will calculate the trajectory of a golf ball thrown with a velocity of 25.6 m/s at an angle of 0 = 35 relative to the horizontal, from a hill that is 2.1 meters above the ground...
Study smarter with the SolutionInn App