Wildhorse Sports has determined the following unit costs for each of its products: Pants Jerseys Jackets...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Wildhorse Sports has determined the following unit costs for each of its products: Pants Jerseys Jackets Direct materials $5.00 $11.00 $54.00 Direct labor 4.00 3.00 24.00 Manufacturing overhead 5.00 3.75 30.00 Total unit cost $14.00 $17.75 $108.00 Sales price per unit $17.00 $21.95 $173.00 On May 31, Wildhorse Sports' Work in Process Inventory consisted of the following items: Units Accumulated Cost Job PA-1247-Pants 100 $950 JE-1397-Jerseys 200 2,830 JA 426-Jackets 50 4,050 $7,830 During June, a total of $222,400 in direct materials and $133,380 in direct labor costs were incurred. Units finished and sold during June were as follows: Product Units Finished Units Sold Pants 13,500 14,000 Jerseys 3,200 3,100 Jackets 2,500 2,500 (a) Your Answer Correct Answer Your answer is correct. Given that Wildhorse Sports uses direct labor dollars as its application base, what is the company's predetermined overhead rate? (Round answer to O decimal places, e.g. 15%.) Predetermined overhead rate 125 % (b) Your answer is correct. Calculate the total manufacturing cost for June. (Round answer to O decimal places, e.g. 5,275.) Total manufacturing cost $ 522505 eTextbook and Media (c) Calculate the Cost of Goods Manufactured for June. (Round answer to 0 decimal places, e.g. 5,275.) Cost of Goods Manufactured eTextbook and Media Save for Later Attempts: 1 of 3 used Attempts: 0 of 3 used Submit Answer Wildhorse Sports has determined the following unit costs for each of its products: Pants Jerseys Jackets Direct materials $5.00 $11.00 $54.00 Direct labor 4.00 3.00 24.00 Manufacturing overhead 5.00 3.75 30.00 Total unit cost $14.00 $17.75 $108.00 Sales price per unit $17.00 $21.95 $173.00 On May 31, Wildhorse Sports' Work in Process Inventory consisted of the following items: Units Accumulated Cost Job PA-1247-Pants 100 $950 JE-1397-Jerseys 200 2,830 JA 426-Jackets 50 4,050 $7,830 During June, a total of $222,400 in direct materials and $133,380 in direct labor costs were incurred. Units finished and sold during June were as follows: Product Units Finished Units Sold Pants 13,500 14,000 Jerseys 3,200 3,100 Jackets 2,500 2,500 (a) Your Answer Correct Answer Your answer is correct. Given that Wildhorse Sports uses direct labor dollars as its application base, what is the company's predetermined overhead rate? (Round answer to O decimal places, e.g. 15%.) Predetermined overhead rate 125 % (b) Your answer is correct. Calculate the total manufacturing cost for June. (Round answer to O decimal places, e.g. 5,275.) Total manufacturing cost $ 522505 eTextbook and Media (c) Calculate the Cost of Goods Manufactured for June. (Round answer to 0 decimal places, e.g. 5,275.) Cost of Goods Manufactured eTextbook and Media Save for Later Attempts: 1 of 3 used Attempts: 0 of 3 used Submit Answer
Expert Answer:
Related Book For
Posted Date:
Students also viewed these accounting questions
-
C&C Sports has determined the following unit costs for each of its products: On May 31, C&C Sports Work in Process Inventory consisted of the following items: During June, a total of $191,591 in...
-
Research serves as a guide by which to study, describe, and quantify an array of social and physical phenomenon. Theory, which is best described as a set of propositions or hypotheses that specify...
-
The NYSE has trouble competing with many foreign exchanges in the listing of foreign stocks. Discuss
-
During 2020, the following transactions were recorded by the Port Hudson Community Hospital, a private sector not-for-profit institution. 1. Gross charges for patient services, all charged to Patient...
-
Write a code to test a Gaussian pseudorandom number generator. If you do not have a canned generator available, write a generator based on the Box-Muller algorithm in Appendix I. Apply the following...
-
Fifteen years ago, Roop Industries sold $400 million of convertible bonds. The bonds had a 40-year maturity, a 534 percent coupon rate, and were sold at their $1,000 par value. The conversion price...
-
Discuss the business benefits of adopting the relational database model within an organization. How does a relational model create or enhance business value? Are there any limitations to using a...
-
Starbucks' decision to buy out its joint venture partner in Japan following several years of operation and instead establish a wholly owned subsidiary Multiple Choice suggests that the company no...
-
GAAP for nongovernment not-for-profit hospitals are primarily established by the a. GASB. b. FASB. c. AICPA. d. None of the above.
-
Which of the following statements about a nongovernment not-for-profit hospital Statement of Cash Flows is false? a. A nongovernment not-for-profit hospital Statement of Cash Flows classifies the...
-
Primary responsibility for accounting for agency resources and expended appropriations rests with a. each individual agency. b. the Department of the Treasury. c. the Government Accountability...
-
The CAFR must include all of the following except a. a letter of transmittal. b. a compliance section. c. a financial section. d. a statistical section. e. an introductory section. f. All of the...
-
The circuit given in Figure 4-52 is to be redesigned to cut its cost. (a) Find the state table for the circuit and replace the state codes with single- letter identiiers. States 100 and 111 were...
-
A hollow conducting sphere has radii of 0.80 m and 1.20 m. The sphere carries a charge of -500 nc. A point charge of + 300nC is present at the center. In the figure, the radial component of the...
-
Draw and label the E and Z isomers for each of the following compounds: 1. CH3CH2CH==CHCH3 2. 3. 4. CH,CH2C CHCH2CH Cl CH3CH2CH2CH2 CH CH2CCCH2CI CHCH3 CH3 HOCH CH CCC CH O-CH C(CH
-
Joshua Hill, Bates & Hill Fabricators production manager, has just completed the companys production budget for the first quarter (see Exercise 5-11). Each brick requires 15 minutes to produce, and...
-
Refer to Exercise 3-3. Sales revenue ...........$840,000 Variable expenses........ 630,000 Contribution margin ..... 210,000 Fixed expenses.........112,000 Operating income........ $ 98,000 Required...
-
Mallet Music Company makes custom marimbas and xylophones. Since much of the work on these musical instruments is done by hand, the company uses direct labor hours as its manufacturing overhead...
-
Figure P2.4 shows a graph of position versus frame number from a video clip of a moving object. Describe this motion from beginning to end, and state any assumptions you make. Data from Figure P2.4...
-
What minimum information must be extracted from a video clip of a moving object in order to quantify the object's motion?
-
The sequence in Figure P2.3 represents a ball that is initially held above the ground. In the first frame the ball is released. In subsequent frames the ball falls, bounces on the ground, rises, and...
Study smarter with the SolutionInn App