60.1K
Verified Solution
Link Copied!
Frick & Frack, Inc. reported the following for the month just ended:
Raw MaterialsInventory,beginning balance: $33,000
Work in Process Inventory,beginning balance: 48,000
Finished Goods Inventory,beginning balance: 27,000
Raw Materials Purchases: 54,000
Factory electricity: 10,000
Total labor used in production: 56,000
Indirect labor used in production: 24,000
Depreciation on factory equipment: 35,000
Insurance on factory building: 8,000
Raw Materials used in production: 65,000
Raw Materials directly traceable to products: 58,000
Raw Materials indirectly linked to products: 7,000
Cost of Goods Manufactured: 200,000
Cost of Goods Sold: 210,000
Management estimates that manufacturing overhead cost will be $450,000.
USE A thru L Machine Hours:
Estimated: 150,000
Actual: 80,000
Questions:
1.What is the company's predetermined overhead rate?
2. How much is applied manufacturing overhead?
3. What is the total manufacturing cost?
4. Assuming 5,000 units are produced, what is the unit product cost?
5. What is a segment of an organization?
6. How is contribution margin different from segment margin?
Answer & Explanation
Solved by verified expert
