The following information relates to GC Company for the current year. Special Units produced Direct material...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following information relates to GC Company for the current year. Special Units produced Direct material cost Direct labour hours Direct labour costs Number of set-ups Number of design changes Overhead cost: Set up Design changes V Other Total manufacturing costs Common 6 000 R60 000 6 000 R60 000 40 12 2 000 R100 000 4 000 R80 000 40 Total R 8 160 000 140 000 80 000 60 000 140 000 580 000 Required Calculate the cost per unit for each product when ABC is used to calculate overhead rates with the following cost drivers: WILL Activity Set up costs Design changes Other V Cost driver Number of set ups Number of designs changes Direct labour hours (15) Jeb uses a job costing system to charge out costs for jobs completed. Job number 49 was completed on 28 April with 1 500 units produced for a customer, M. Gidy. Day 1: Material consumed per requisition 201A amounted to R400 Day 1: An artisan worked 4 hours Day 2: Material consumed per requisition 201B amounted to R300 Day 5: An artisan worked 6 hours Day 9: An artisan plus a labourer worked 3 hours Day 11: An artisan plus a labourer worked 8 hours Labour overheads of 35% are added to the total cost. Material overheads of 25% are added to the total cost. Artisan rate is R75 per hour. Labourer rate is R25 per hour. Required Calculate the total job cost and the cost per unit. Present your answer in column form.(20 The following information relates to GC Company for the current year. Special Units produced Direct material cost Direct labour hours Direct labour costs Number of set-ups Number of design changes Overhead cost: Set up Design changes V Other Total manufacturing costs Common 6 000 R60 000 6 000 R60 000 40 12 2 000 R100 000 4 000 R80 000 40 Total R 8 160 000 140 000 80 000 60 000 140 000 580 000 Required Calculate the cost per unit for each product when ABC is used to calculate overhead rates with the following cost drivers: WILL Activity Set up costs Design changes Other V Cost driver Number of set ups Number of designs changes Direct labour hours (15) Jeb uses a job costing system to charge out costs for jobs completed. Job number 49 was completed on 28 April with 1 500 units produced for a customer, M. Gidy. Day 1: Material consumed per requisition 201A amounted to R400 Day 1: An artisan worked 4 hours Day 2: Material consumed per requisition 201B amounted to R300 Day 5: An artisan worked 6 hours Day 9: An artisan plus a labourer worked 3 hours Day 11: An artisan plus a labourer worked 8 hours Labour overheads of 35% are added to the total cost. Material overheads of 25% are added to the total cost. Artisan rate is R75 per hour. Labourer rate is R25 per hour. Required Calculate the total job cost and the cost per unit. Present your answer in column form.(20
Expert Answer:
Answer rating: 100% (QA)
Part A Calculate the cost per unit for each product when ABC is used to calculate overhead rates with the following cost drivers Set up costs Overhead ... View the full answer
Related Book For
Management Accounting
ISBN: 978-0132570848
6th Canadian edition
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Phillip Beaulieu
Posted Date:
Students also viewed these accounting questions
-
On 1 January 20X5, Franco Ltd. purchased $480,000 of Gentron Company 7.00% bonds. The bonds pay semi-annual interest each 30 June and 31 December. The market interest rate was 8% on the date of...
-
Calculate Annes remuneration for 15 April 2022. INFORMATION The normal wage of Anne is R200 per hour and her normal working day comprises 9 hours. The standard production time for each employee is 10...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
The matrix A below has λ = 2 as an eigenvalue. Find the geometric multiplicity of λ = 2 using your calculator only for row-reducing matrices. 18-15 33 -151 -4 8-6 6 9-16...
-
Using the Hund rules, find the magnetic moment of the ground state of the atom whose open sub shell is half-filled with five electrons.
-
On June 3 0 , 2 0 2 3 , Wisconsin, Incorporated, issued $ 3 0 0 , 0 0 0 in debt and 1 5 , 0 0 0 new shares of its $ 1 0 par value stock to Badger Company owners in exchange for all of the outstanding...
-
Verify that both the pressure and the vorticity field satisfy the Laplace equation for Stokes flow. Verify that the velocity field satisfies the biharmonic equation \[\begin{equation*}abla^{4}...
-
What should Niele do now? As Sage Niele, the newly appointed Vice President of Operations and Chief Financial Officer for the Midsouth Chamber of Commerce (MSCC), walked over to the microwave in her...
-
Great Boots Company sells rock climbing equipment. On February 28, Great Boots had the following accounts and balances: Bonds payable $180,000 Discount on bonds payable 19,000 On that day, Great...
-
The adjusted trial balance columns of the worksheet for Auburn Company are as follows. Instructions Complete the worksheet. Auburn Company Worksheet (partial) For the Month Ended April 30, 2020...
-
Melnik Shops. Inc., a chain of specialty womens apparel stores, reported the following information about leases in its annual report (in thousands):...
-
Identify the valid and invalid overloaded constructors in the following code: public class PointD { private double x; private double y; * // constructor 1 public PointD() { } } // constructor 2...
-
Write a recursive method to output a string a certain number of times. A user will input a string and how many time the string will be printed. An example output to print "Book" 5 times along with...
-
Assume that a one-dimensional array named intArray of type int is declared, created, and initialized correctly. Write a code segment to compute the sum of all numbers stored in the even-numbered...
-
What is the output from the following code segment? double [] [] grades; grades = new double [34] [15]; System.out.println (grades [11] .length); System.out.println (grades [34].length) ;...
-
Write a code segment to ask a user to enter a number between 1 and 4 , and print the name of the class (First-Year, Sophomore, Junior, and Senior) corresponding to the number. Use a case structure.
-
Using Simplex method solve the LPP,maximise Z = 3x1+5x + 4x3 $ 221 +372 58 2x+5x3 1 3x1+2x +4x3 15 37 , XI, X2, X3 z0. J
-
Determine the annual percentage yield for a loan that charges a monthly interest rate of 1.5% and compounds the interest monthly.
-
Griffy, Li, and Bernard, a CA firm, is preparing to bid for a consulting job. Although Alicia Bernard will use her judgment about the market in finalizing the bid, she has asked you to prepare a cost...
-
Distinguish between average and marginal tax rates
-
Why do most executives use both full-cost and variable-cost information for pricing decisions?
-
Suppose a bond is taxable for both federal and state purposes. Let Rb = the BTROR on the bond, tfed = the federal tax rate, and tst = the state tax rate. Determine the ATROR (i.e., after federal and...
-
Under what conditions are the Exempt Model and Pension Model equivalent? Under what conditions would one model perform better than the other? How does the \($6,500\) limitation on deductible and Roth...
-
Harry wants to contribute either \($6,500\) (BT\($)\) to a traditional deductible IRA or \($6,500\) (AT\($)\) to a Roth IRA. His current tax rate is 30% for ordinary income and 15% for capital gains....
Study smarter with the SolutionInn App