Southwest toys manufacturers gloves at its San Francisco facility. The company uses job costing and provides you with the following information regarding operations for April 2020: Data table Total globes manufactured 35000 Globes rejected as spoiled units 850 Total manufacturing costs $700000 Requirements 4. If the spoilage is considered abnormal, prepare the journal entries for the spoilage incurred. Data Table Total globes manufactured 35,000 Globes rejected as spoiled units 850 Total manufacturing cost $700,000
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- Southwest Toys manufactures globes at its San Fernando facility. The company uses job costing and provides you with the following information regarding operations for April 2020: (Click the icon to view the operations information.) Assume the spoiled units have no disposal value. Read the requirements. Requirement 1. What is the unit cost of making the 35,000 globes? The unit cost of making 35,000 globes is Data table Total globes manufactured Globes rejected as spoiled units Total manufacturing cost $ - 35,000 850 700,000 X Requirements 1. 2. 3. If the spoilage is considered normal, what is the increase in the unit cost of good globes manufactured as a result of the spoilage? What is the unit cost of making the 35,000 globes? What is the total cost of the 850 spoiled units? 4. If the spoilage is considered abnormal, prepare the journal entries for the spoilage incurred. Print Done - XSouthwest toys manufacturers gloves at its San Francisco facility. The company uses job costing and provides you with the following information regarding operations for April 2020: Data table Total globes manufactured 35000 Globes rejected as spoiled units 850 Total manufacturing costs $700000 Requirements 1. What is the unit cost of making the 35000 globes? 2. What is the total cost of the 850 spoiled units? 3. If the spoilage is co sided normal, what is the increase in the unit cost of good gloves manufactured as a result of the spoilage? 4. If the spoilage is considered abnormal, prepare the journal entries for the spoilage incurred.Southwest toys manufacturers gloves at its San Francisco facility. The company uses job costing and provides you with the following information regarding operations for April 2020: Data table Total globes manufactured 35000 Globes rejected as spoiled units 850 Total manufacturing costs $700000 Requirements 1. What is the unit cost of making the 35000 globes? 2. What is the total cost of the 850 spoiled units? 3. If the spoilage is co sided normal, what is the increase in the unit cost of good gloves manufactured as a result of the spoilage? 4. If the spoilage is considered abnormal, prepare the journal entries for the spoilage incurred. Data Table Total globes manufactured 35,000 Globes rejected as spoiled units 850 Total manufacturing cost $700,000
- The Plastic Manufacturing Company uses the Job Order Costing and applies manufacturing overhead costs to units produced using an appropriate base. The activities for September 2020 are shown below: Direct Material Inventory used $ 45,000 Indirect Material Inventory used $ 4,000 Direct Manufacturing Labor $ 53,500 Applied Manufacturing Overhead $ 56,500 Actual Manufacturing Overhead $ 62,500 Beginning and Ending Work In Process $ 0 What is the cost of jobs completed in September 2020? а. $ 151,000 b. $ 155,000 $ 161,500 d. $ 161,000Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: DIRECT MATERIALS P10 DIRECT LABOR 8 APPLIED FACTORY OVERHEAD 12 TOTAL P30 Final inspection of Job 403 disclosed 50 defective units and 100 spoiled units. The defective units were reworked at a total cost of P500, and the spoiled units were sold to an employee for P1,500. What would be the unit cost of the good units produced on Job 403? SOLUTION MUST BE IN GOOD ACCOUNTING FORM. EXCEL FORM WILL ALSO BE GOOD!SitChairwn Company manufactures chairs to the exacting specifications of various customers. During January 2020, Job 023 for the production of 1,100 was completed at the following costs per unit: Direct Materials 10 Direct Labor 8 Applied Factory Overhead 12 Final Inspection of the order dislosed 50 defective units and 100 spoiled units. The defective chairs were reworked at a total cost of $50 and the spoiled chairs were sold toa jobber for $150. What would be the unit cost of the good units produced?
- Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials P10 Direct Labor 8 Applied factory overhead 12 Total P30 Final inspection of Job 403 disclosed 59 defective units and 100 spoiled units. The defective units were reworded at a total cost of P500., and the spoiled units were sold to an employee for P1,500. What would be the unit cost of the good units produced on Job 403?Fulcrum Industries manufactures dining chairs and tables. The following information is available in December 2020: Dining Chairs Tables Total CostMachine setups 200 600 $48,000Inspections 250 470 $72,000Labor hours 2,600 2,400 Fulcrum is considering switching from one overhead rate based on labor hours to activity-based costing.InstructionsPerform the following analyses for these two components of overhead:a. Compute total machine setups and inspection costs assigned to each product, using a single overhead rate.b. Compute total machine setups and inspection costs assigned to each product, using activity-based costing.c. Comment on your findings.MyGame Station Sdn Bhd makes gaming devices using latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year: Machine hours 22,500 Manufacturing overhead cost RM320,000 During the year 2020, a surplus of gaming devices on the market resulted in cutting back production. The company’s cost records revealed the following actual cost and operating data for the year: Machine hours 25,000 Manufacturing overhead cost RM385,000 Inventories at year-end: Raw Materials RM12,000 Work in process (includes overhead applied of RM12,000) RM40,000 Finished goods (includes overhead applied of RM40,000) RM150,000 Cost of goods sold (includes overhead applied of RM152,000) RM400,000 REQUIRED: Compute the predetermined…
- MyGame Station Sdn Bhd makes gaming devices using latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year: Machine hours 22,500 Manufacturing overhead cost RM320,000 During the year 2020, a surplus of gaming devices on the market resulted in cutting back production. The company’s cost records revealed the following actual cost and operating data for the year: Machine hours 25,000 Manufacturing overhead cost RM385,000 Inventories at year-end: Raw Materials RM12,000 Work in process (includes overhead applied of RM12,000) RM40,000 Finished goods (includes overhead applied of RM40,000) RM150,000 Cost of goods sold (includes overhead applied of RM152,000) RM400,000 REFFERAL ANSWERs a) Predetermined overhead…Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials 10 Direct labor 8 Applied factory overhead 12 Total 32 Final inspection of Job 403 disclosed 59 defective units and 100 spoiled units. The defective units were reworded at a total cost of P500, and the spoiled units were sold to an employee for P1,500. If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo) Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials 10 Direct labor 8 Applied…Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials 10 Direct labor 8 Applied factory overhead 12 Total 32 Final inspection of Job 403 disclosed 59 defective units and 100 spoiled units. The defective units were reworded at a total cost of P500, and the spoiled units were sold to an employee for P1,500. If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo)