91. Logan Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell. For the year planned labor and overhead was $76,800,000; materials costs, $25 per unit. Planned production included 9,600 hours to produce 76,800 motor drives. Actual production for the month of August was 5,200 units, and motor drives shipped amounted to 5,040 units. From the foregoing information, determine the budgeted cell conversion cost per hour. A. $8,800B. $800C. $7,200D. $8,000
92. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $5,000,000; materials costs, $30 per unit. Planned production included 2,500 hours to produce 20,000 motor drives. Actual production for August was 1,400 units, and motor drives shipped amounted to 1,260 units. From the foregoing information, determine the budgeted cell conversion cost per unit. A. $250.00B. $267.00C. $308.00D. $317.00
93. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $5,000,000; materials costs, $30 per unit. Planned production included 2,500 hours to produce 20,000 motor drives. Actual production for August was 1,400 units, and motor drives shipped amounted to 1,260 units. From the foregoing information, determine the manufacturing cost per unit. A. $292.00B. $280.00C. $333.00D. $342.00
94. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $5,000,000; materials costs, $30 per unit. Planned production included 2,500 hours to produce 20,000 motor drives. Actual production for August was 1,400 units, and motor drives shipped amounted to 1,260 units. From the foregoing information, determine the amount of the conversion costs charged to Raw and In Process Inventory during August. A. $440,000B. $400,000C. $360,000D. $350,000
95. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $5,000,000; materials costs, $30 per unit. Planned production included 2,500 hours to produce 20,000 motor drives. Actual production for August was 1,400 units, and motor drives shipped amounted to 1,260 units. From the foregoing information, determine the production costs transferred to Finished Goods during August. A. $346,500B. $412,500C. $392,000D. $400,000
96. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $5,000,000; materials costs, $30 per unit. Planned production included 2,500 hours to produce 20,000 motor drives. Actual production for August was 1,400 units, and motor drives shipped amounted to 1,260 units. From the foregoing information, determine the production costs transferred to Cost of Goods Sold during August. A. $357,500B. $412,500C. $400,000D. $352,800
97. Accounting for Just-In-Time operations requires fewer transactions because A. large batches of inventory are combined in a smaller number of transactionsB. costs are accumulated in departments and then transferred to the next departmentC. combined material and conversion costs are transferred to finished goods.D. costs are transferred from department to department thus allowing for better controls in costs
98. Just-In-Time accounting has fewer transactions because A. all manufacturing costs are combined in one account called Raw and In Process InventoryB. employees in production cells are required to perform various tasks, some are considered direct costs and some are indirect costs. Therefore the distinction is eliminated.C. less movement of inventory between department to department.D. All of the above.
99. The budgeted cell conversion cost rate includes which of the following? A. factory overhead onlyB. direct labor and direct materials onlyC. direct labor, direct materials, and factory overheadD. direct labor and factory overhead only
100. Schedule of Activity Costs
Quality Control Activities
Activity Cost
Process audits
$55,000
Training of machine operators
26,000
Processing returned products
18,000
Scrap processing (disposal)
29,000
Rework
8,000
Preventative maintenance
30,000
Product design
46,000
Warranty work
12,000
Finished goods inspection
22,000
From the above Schedule of Activity Costs, determine the total activity cost. A. $49,000B. $179,000C. $191,000D. $246,000
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