Barn Company uses a process costing system. During August the mixing department

    Barn Company uses a process costing system. During August the mixing department transferred out 65000 units. The August 31 work in process inventory
    balance in the mixing department consisted of 22000 equivalent units of material and 20150 equivalent units of labor and overhead. The cost per
    equivalent unit was $5.50 for materials and $5.00 for labor and overhead. How much was the total balance in the work in process inventory account on August
    31?
    Answer
    $463750 $192500 $221750 $271250

    Nations Shipping determined the rate to apply overhead based on direct labor hours would be $8.40 and based on machine hours would be $5.20. Job 43D used
    $12.40 of direct materials 0.46 machine hours and 18 minutes of direct labor at a cost of $13 per hour. How much is the cost of job 43D if Nations
    Shipping applies overhead based on machine hours?
    Answer
    $2.52 $18.69 $248.92 $8.82 Peak Manufacturing produces snow blowers. The selling price per snow blower is $100. Costs
    involved in production are: $20 12 10 $148500
    In addition the company has fixed selling and administrative costs of $150000 per year. During the year Peak produces 45000
    snow blowers and sells 30000 snow blowers. Ignoring taxes how much will full costing profit differ from variable costing
    profit? Answer $148500 $94500 $74250 $49500

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