Jackson Co. is considering a project that will use 2,000 square feet of storage space at one of its facilities to store used equipment. What will determine Jackson's opportunity cost?
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3 .Madtack Company's beginning and endinginventories for the month of November Year 1 are: November 1 November 30 Direct materials USD67,000 USD62,000 Work-in-process 145,000 171,000 Finished goods 85,000 78,000 Production datafor the month of November follows. Direct labor USD200,000 Actual factory overhead 132,000 Direct materials purchased 163,000 Transportation in 4,000 Purchase returns and allowances 2,000 Madtack uses onefactory overhead control account and charges factory overhead to production at70 percent of direct labor cost. The company does not formally recognizeover/underapplied overhead until year-end.Madtack Company'scost of goods sold for November is:
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4 .Boyle, Inc. makes two products, X and Y thatrequire allocation of indirect manufacturing costs. The following data wascompiled by the accountant before making any allocations: Product X Product Y Quantity produced 10,000 20,000 Direct manufacturing labor hours 15,000 5,000 Setup hours 500 1,500 The total cost ofsetting up manufacturing processes and equipment is USD400,000. The companyuses a job-costing system with a single indirect cost rate. Under this system,allocated costs were USD300,000 and USD100,000 for X and Y, respectively. If anactivity-based system is used, what would be the allocated costs for eachproduct? Product X ProductY
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5 .The accountant for Champion Brake Inc.applies overhead based on machine hours. The budgeted overhead and machinehours for the year are USD260,000 and 16,000, respectively. The actual overheadand machine hours incurred were USD275,000 and 20,000. The cost of goods soldand inventory data compiled for the year is as follows: Direct Materials USD50,000 COGS 450,000 WIP (units) 100,000 Finished Goods (units) 150,000 What is the amountof over/underapplied overhead for the year?
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