Use the information provided to create a standard cost card for production of one glove box...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Use the information provided to create a standard cost card for production of one glove box switch. To make one switch it takes 16 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $21.00 per pound, and the wire costs $2.40 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.4 hours. These workers are paid $28.00 per hour. The second type of labor is finishing, which takes 1 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.50 per hour. Round your answer to two decimal places. Standard Cost $ Use the information provided to create a standard cost card for production of one glove box switch. To make one switch it takes 16 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $21.00 per pound, and the wire costs $2.40 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.4 hours. These workers are paid $28.00 per hour. The second type of labor is finishing, which takes 1 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.50 per hour. Round your answer to two decimal places. Standard Cost $
Expert Answer:
Answer rating: 100% (QA)
Particulars Amount Working Direct Material Copper Wire 3... View the full answer
Related Book For
Managerial Accounting A Focus on Ethical Decision Making
ISBN: 978-0324663853
5th edition
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
Posted Date:
Students also viewed these accounting questions
-
For this exercise, use the information provided in exercise 40. In exercise Required If OCallahan Snack Company uses the weighted average method of process costing, how would your answers to...
-
Use the information provided in P4.2, but assume that Puffin Industries uses the cost method to account for its investment in Sunset Coast Digital. In problem 4 On December 31, 2012, Paxon...
-
Use the information provided in BE12-1. Assume that at January 1, 2014, the carrying amount of the patent on Celine Dions books is $43,200. In January, Celine Dion spends $24,000 successfully...
-
For each of the following tests, identify two different samples of people who would have the expertise to serve as subject matter experts (SMEs) for providing judgments regarding the content validity...
-
The inventory of Molly Company, a wholesaler of soft-goods, is composed of approximately 3,500 different items. The company employs a computerized batch processing system to maintain its perpetual...
-
10,000 equity shares of 20 each are issued for public subscription at a premium of 10%. The full amount is payable on application. Applications were received for 20,000 shares and pro rata allotment...
-
If the limit load factor is exceeded, the aircraft will experience structural failure. (True/False)
-
Tablet Tailors sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following...
-
A parallel-plate capacitor is to be constructed by using, as a dielectric, rubber with a dielectric constant of 3.20 and a dielectric strength of 15.0 MV/m. The capacitor is to have a capacitance of...
-
For each of the following employees, calculate the Social Security tax for the weekly pay period described: For simplicity, all calculations throughout this exercise, both intermediate and final,...
-
Insomniac records is a record label specializing in underground music artists. Each year, Insomniac records total earnings are taxed at the current corporate tax rate, and then taxed as personal...
-
Find online the annual 10-K report for Costco Wholesale Corporation (COST) for fiscal year 2021 (filed in October 2021). Answer the following questions from their balance sheet: a. How much cash did...
-
A \(495 \mathrm{~kg}\) cannon fires a \(10.0 \mathrm{~kg}\) cannonball with a speed of \(211 \mathrm{~m} / \mathrm{s}\) relative to the muzzle. The cannon is on wheels that roll without friction....
-
Two identical, side-by-side springs with spring constant \(240 \mathrm{~N} / \mathrm{m}\) support a \(2.00 \mathrm{~kg}\) hanging box. Each spring supports the same weight. By how much is each spring...
-
A \(110 \mathrm{~kg}\) linebacker running at \(2.0 \mathrm{~m} / \mathrm{s}\) and an \(82 \mathrm{~kg}\) quarterback running at \(3.0 \mathrm{~m} / \mathrm{s}\) have a head-on collision in midair....
-
Nokela Industries purchases a \($43.52\) million cyclo-converter. The cyclo-converter will be depreciated by \($10.88\) million per year over four years, starting this year. Suppose Nokelas tax rate...
-
Explain the probability distrubitions in the p-chart and c-chart. Step 1. Let \( p_{j} \) denote the proportion of defective items in sample \( j, j=1,2, \ldots, K \). Find the mean \( \bar{p} \) of...
-
Chicago Company sold merchandise to a customer for $1,500 cash in a state with a 6% sales tax rate. The total amount of cash collected from the customer was $558. $600. $642. $636. Nevada Company...
-
Smoluk Mining Company currently is operating at less than 50 percent of capacity. The management of the company expects sales to drop below the present level of 10,000 tons of ore per month very...
-
Technology has changed the way in which accounting information is generated and used. Todays accounting information systems generate vast amounts of data in a fraction of the time required a few...
-
How are selling and administrative costs treated under variable costing?
-
The control volume shown in Figure \(P 2.15\) has steady, incompressible flow, and all properties are uniform at the inlet and outlet. For \(u_{1}=1.256 \mathrm{MJ} / \mathrm{kg}\) and...
-
(a) List the forces exerted on the spring-cart system of Figure 15.1 right after it is released, and draw a freebody diagram for each object in the system. (b) Which of these forces do work on the...
-
(a) In Figure 15.2e, the cart's displacement from the equilibrium position is maximum. Is the \(x\) component of the cart's acceleration at that instant positive, negative, or zero? (b) At which...
Study smarter with the SolutionInn App