To compute equivalent units of production, one must be able to reasonably estimate:
A. Materials cost.
B. The percentage of completion.
C. Units completed.
D. Direct labor cost.
E. Units started and completed.
Answer: B
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A manufacturing company has a standard costing system based on standard direct labor-hours (DLHs) as the measure of activity. Data from the company's flexible budget for manufacturing overhead are given below: Denominator level of activity 3,700DLHsOverhead costs at the denominator activity level: Variable overhead cost$28,490 Fixed overhead cost$47,545 ?The following data pertain to operations for the most recent period: Actual hours 3,900DLHsStandard hours allowed for the actual output 3,850DLHsActual total variable manufacturing overhead cost$29,445 Actual total fixed manufacturing overhead cost$47,995 The overhead applied to products during the period was closest to:
A. $76,035 B. $79,118 C. $80,145 D. $77,440
Manzano, Inc., manufactures and sells two products: Product F1 and Product G2. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected ProductionDirect Labor-Hours Per UnitTotal Direct Labor-HoursProduct F11005.0500Product G22007.01,400Total direct labor-hours 1,900The direct labor rate is $18.40 per DLH. The direct materials cost per unit is $248.70 for Product F1 and $266.00 for Product G2. The estimated total manufacturing overhead is $678,146.The unit product cost of Product G2 under the company's traditional costing method in which all overhead is allocated on the basis of direct labor-hours is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $751.24 per unit B. $674.24 per unit C. $2,893.24 per unit D. $856.03 per unit
An internal control system consists of the policies and procedures managers use to do all of the following except:
A) Urge adherence to company policies. B) Promote efficient operations. C) Ensure reliable accounting. D) Determine pricing for products. E) Protect assets.
The information MIS infrastructure supports the day-to-day business operations and plans for ________.
A. Floods and earthquakes B. Security breaches and theft C. Malicious internet attacks D. All of these