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Test File
By: Peter

3 The Long Term Care Plus Company has two service departments

3
The Long Term Care
Plus Company has two service departments — actuarial and premium rating, and
two production departments — marketing and sales. The distribution of each
service department’s efforts to the other departments is shown below:

FROM

TO

Actuarial

Rating

Marketing
Sales

Actuarial

0.0%

40.0%

20.0%

40.0%

Rating

26.0%

0.0%

39.8%

34.2%

The direct operating
costs of the departments (including both variable and fixed costs) were as
follows:

Actuarial

$64,000

Rating

$42,000

Marketing
$64,000

Sales

$75,000

The total cost
accumulated in the marketing department using the reciprocal method
is:

4
East Bay Fisheries
Inc. processes king salmon for various distributors. Two departments are
involved — processing and packaging. Data relating to tons of king salmon
processed in the processing department during June 2013 are provided below:

Tons of

Percent Completed

King Salmon

Materials

Conversion

Work-in-process
inventory – June 1
1,480

89

78

Work-in-process
inventory – June 31
2,780

59

40

Started processing
during June
7,830

Total equivalent
units for materials under the FIFO method are calculated to be:

5
Bradford Company
derived the following cost relationship from a regression analysis of its
monthly manufacturing overhead cost:

C = $80,000 + $12M

where:

C = monthly
manufacturing overhead cost, and

M = machine hours

The standard error of
estimate of the regression is $6,000 The standard time required to
manufacture one six-unit case of Bradford’s single product is two machine
hours Bradford applies manufacturing overhead to production on the basis of
machine hours, and its normal annual production is 50,000 cases

Bradford’s estimated
variable manufacturing overhead cost for a month in which scheduled
production is 5,000 cases would be:

6
Norio Manufacturing
uses powdered plastics (PPS) to manufacture a high-pressure board used in
digital equipment, Flex 10. Information concerning its operation in June is
as follows:

Budgeted units of Flex 10
for June

4,800

Budgeted usage of FPS

42,000
pounds

Number of units of Flex
10 manufactured
3,800

PFS purchased

41,270
pounds

PFS used

37,400
pounds

Total actual cost of FPS
used

$212,747

Direct materials usage
variance – unfavorable
$20,620

The cost of PPS in the
flexible budget for the number of units manufactured this period is:

7
Shoemaker Perkins
Company uses a standard cost system and had 330 pounds of raw material X15 on
hand on September 1. The standard cost
is $8.47 per pound. The standard calls
for 1.70 pounds of material X15 for each unit of the product
manufactured. The company manufactured
510 units of the product in September, and had 430 pounds of Material X-15 in
stock on September 30. The actual
price for Material X-15 purchased during the month was $0.80 per pound below
the standard cost. The material usage
variance in September was $2,500 unfavorable.
What is the standard cost of materials for the units produced in
September?

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