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Jones Corporation has the following cost records for May 2013 http://edugen.wiley.com/edugen/courses/crs2496/common/art/pixel.gif Indirect factory labor $ 7,000 Advertising Expense $ 8,000 Direct materials used 12,000 Depreciation, factory equipment 3,200 Work in process, 5/1/13 6,000 Direct labor 13,000 Work in process, 5/31/13 7,800 Maintenance, factory equipment 1,000 Factory supervisor’s salary 4,500 Indirect materials 1,200 Sales Commission 10,000 Office Manager Salary 4,000 http://edugen.wiley.com/edugen/courses/crs2496/common/art/pixel.gif http://edugen.wiley.com/edugen/courses/crs2496/common/art/pixel.gif Instructions (a) Prepare a cost of goods manufactured schedule for May 2013 PROBLEM 2 Newton, Inc. fixed costs are expected to be $85,000 and variable costs are expected to be $20 per product. Sales price is $40 per product. Instructions Determine the required sales in units to break even. PROBLEM 3 Nison Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost Miles Driven Total Cost January 10,000 $15,000 March 9,000 $12,500 February 8,000 $14,500 April 7,500 $12,000 Instructions Compute the variable and fixed cost elements using the high-low method. Rosa Winery has the following cost and production data for the Fermenting Department for December 2014 Cost data: Beginning work in process inventory, December 1 Direct Materials $30,000 Conversion Cost $ 6,000 $36,000 Cost incurred during production in December Direct Materials 390,000 Conversion costs 122,000 Total Costs $548,000 Production data Completed and transferred out 62,000 Ending work in process (gallons) 8,000 Ending work in process was 100% complete as to materials and 25% complete as to conversion costs. Instructions (a) Compute the equivalent units of production. (b) Determine the unit production costs. (c) Determine the costs to be assigned to units transferred out and ending work in process.

Jones Corporation has the following cost records for May 2013
http://edugen.wiley.com/edugen/courses/crs2496/common/art/pixel.gif

Indirect factory labor $ 7,000 Advertising Expense $ 8,000
Direct materials used 12,000 Depreciation, factory equipment 3,200
Work in process, 5/1/13 6,000 Direct labor 13,000
Work in process, 5/31/13 7,800 Maintenance, factory equipment 1,000
Factory supervisor’s salary 4,500 Indirect materials 1,200
Sales Commission 10,000 Office Manager Salary 4,000
http://edugen.wiley.com/edugen/courses/crs2496/common/art/pixel.gif

http://edugen.wiley.com/edugen/courses/crs2496/common/art/pixel.gif

Instructions
(a) Prepare a cost of goods manufactured schedule for May 2013

 

PROBLEM 2
Newton, Inc. fixed costs are expected to be $85,000 and variable costs are expected to be $20 per product. Sales price is $40 per product.
Instructions
Determine the required sales in units to break even.
PROBLEM 3
Nison Company accumulates the following data concerning a mixed cost, using miles as the activity level.
Miles Driven Total Cost Miles Driven Total Cost
January 10,000 $15,000 March 9,000 $12,500
February 8,000 $14,500 April 7,500 $12,000
Instructions
Compute the variable and fixed cost elements using the high-low method.
Rosa Winery has the following cost and production data for the Fermenting Department for December 2014
Cost data:
Beginning work in process inventory, December 1
Direct Materials $30,000
Conversion Cost $ 6,000
$36,000
Cost incurred during production in December
Direct Materials 390,000
Conversion costs 122,000
Total Costs $548,000
Production data
Completed and transferred out 62,000
Ending work in process (gallons) 8,000
Ending work in process was 100% complete as to materials and 25% complete as to conversion costs.
Instructions
(a) Compute the equivalent units of production.
(b) Determine the unit production costs.
(c) Determine the costs to be assigned to units transferred out and ending work in process.

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