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    Romanov Midterm

    Uploaded by

    6ahahah

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    © All Rights Reserved
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    Romanov Midterm

    Uploaded by

    6ahahah
    3 views8 pages

    Copyright

    © © All Rights Reserved

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    XLSX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    3 views8 pages

    Romanov Midterm

    Uploaded by

    6ahahah

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 8

    1) EQQ = sqrt (2* Co*D/Ch) 4000

    2) Purchase costs 800000


    Annual stockholdin 6000
    Annual ordering co 6000
    Total costs 812000

    2) Output (Units) 200 400


    Total cost ($) 8000 13000

    3) A company budgeted to produce 3,000 units of a single product

    $ per unit
    Direct costs 17
    Fixed overheads 9
    Total Costs 26
    BP 3000
    AP 3200

    4)
    1 GW
    tot h 8000
    Gross wages 152
    Gross wages for all 1216000

    2 DED
    Deductions 30%
    D 364800

    3 NW
    GW-D 851200

    4 DLC
    Direct lab cost 1216000

    5 IndLC
    idle 188 h
    basic rate 4
    752
    ovtime pr 35%
    overtime premium 8540
    + idle time
    9292

    5)
    Information regarding products is given below:

    Budgeted outpu 1000 units


    Standard details for one unit
    Direct materials 25kg at $8 per kg
    Direct wages
    Bonding department: 24 hours at $10.00 per hour
    Finishing department: 25 hours at $5.80 per hour
    Variable overhead (VO)
    $2.50 per bonding labour hour
    $1 per finishing labour hour
    Fixed production overhead
    Fixed non- production overhead
    VO are recovered (absorbed) using hour, FO are recovered on a unit basis.
    The second option ( 8000
    barrels and a discount 2% ) is
    more efficient than the previous
    Order quantity 8000 EOQ.
    Purchase costs 784000
    Annual stockholding costs 12000
    Annual ordering costs 3000
    Total costs 799000

    600 800 VC per unit


    12000 13600 FC

    o produce 3,000 units of a single product in a period at a budgeted cost per unit as follows:

    Fixed overhead absorbed


    Fixed overhead incurred
    Over-absorbed fixed overheads
    8000

    Budgeted output/sales for th 1000 units


    Standard details for one unit
    Direct materials 200
    Direct wages h per h
    Bonding department: 240 24 10
    Finishing department: 145 25 5.8
    Variable overhead (VO)
    per bonding labour hour 2.5
    per finishing labour hour 1
    Fixed production overhead 36000
    Fixed non- production overh 27000
    1.5 VC (950) 1.35
    12400 FC (950) 13640
    Total cost at 9 14922.5

    28800
    27810
    990
    Solution
    1) Prime cost $ 585,00
    Variable produ $ 670,00
    Total producti $ 706,00
    Total cost $ 733,00

    2) Profit $ 244,33
    Price $ 977,33

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