had the following costs for June: What was the cost of direct materials used during June? $ 275.00 11 Direct Labor vs. Indirect Labor LO2, 3 Jim Wilson is a typical manufacturing employee who commonly works 40 hours per week and is paid $14 per hour. During the last pay period, Jim performed the following activities: 29.5 hrs of DL and 9.5 hrs of IL 12. Job Costing LO3 Required How much manufacturing overhead was incurred during March? $20,000 13. Identification of Cost Drivers LO3 • a
Words: 329 - Pages: 2
currently using a cost system that has proven its lack in accuracy. Their product line ranges in a number of ways from width and thickness to coating. The biggest problem facing Forest Hill and their costing system is the allocation of indirect material costs to each type of paper that they produce. Forest Hill produces 20 different types of paper with production cycles ranging from a few hours to several days. Their costing system needs to be re-evaluated in order to match specific costs with specific
Words: 381 - Pages: 2
about how a company should allocate costs. Mr. Delaney is the owner of an automobile dealership that is profitable but not profitable in the area of the body shop department. The predicament that he faces is that he needs to figure out how to allocate the costs among his different profit centers. One of the things that Mr. Delaney did in trying to assist himself was to hire a consultant. The consultant was one that is very competent in analyzing the issues of cost, both fixed, variable and semi variable
Words: 1038 - Pages: 5
about how a company should allocate costs. Mr. Delaney is the owner of an automobile dealership that is profitable but not profitable in the area of the body shop department.. The predicament that he faces is that he needs to figure out how to allocate the costs among his different profit centers. One of the things that Mr. Delaney did in trying to assist himself was to hire a consultant. The consultant was one that is very competent in analyzing the issues of cost, both fixed, variable and semivariable
Words: 1111 - Pages: 5
1-Management Concept: FPG's value belief of Diligence and Frugality backs its commitment to excellence. As society advances, the will to strive for excellence is an objective that can never be fulfilled so there will always be room for improvement. The sustainability of the group, seek to contribute to society through the business activities. It is their goal to become the world's leading enterprise in which employees have security, investors find confidence, and society places trust FPG believe
Words: 925 - Pages: 4
mislead the top management about the true profit potential of the company, which leads to inefficient resource planning and allocation and poor coordination of activities across different parts of the company. When the difference between budget amounts and actual results are used to evaluate performances, management may underestimate budget revenues, or overestimate budget costs to make budget targets more easily achievable. This behavior results in budgetary slack. Another incentive management has
Words: 600 - Pages: 3
19th 2013 SUBJECT: Forest Hill Cost Systems Forest Hill is a small company that manufactures paperboard in large reels. Since FHPC is a small company, they are forced to offer an array of products to remain competitive in today’s markets. They can produce 20 different grades of paperboard in both bulk and small-customized orders. In the past, FHPC has recorded many of their costs as conveniently as possible, which has resulted in incorrect allocation of costs. Our team has been hired by Forest
Words: 489 - Pages: 2
enterprise and service providers maintain market leadership, increase business agility, reduce total cost of ownership (TCO), meet regulatory requirement, and position the organization for future growth. The Kingfish Datacenter Migration plan relocation to the Connection Factory converted warehouse will save the organization an estimated fifty thousand dollars annually in lease and indirect cost. The TOC is reduced by timing the migration with a total hardware refresh to more energy efficient
Words: 1361 - Pages: 6
300-word response to the following: Why are cost per output and cost per outcome calculations valuable to a human service agency? What might happen if a human service agency did not determine the cost per output and cost per outcome? Determining the cost per outcome and the cost per output is the final step in cost analysis. According to Financial Management for Human Service Administrators by Lawrence L. Martin, to compute cost per output (per unit), the total cost of the program is placed as a numerator
Words: 259 - Pages: 2
suffering from declining sales. Category retailers have become powerful and are able to dictate practically all terms to suppliers. Large chain retail manufacturers are constantly squeezing costs forcing manufacturers to keep selling prices low in order to remain competitive. 2. Clearwater maintains a Cost of Quality report, but results of the report are not tracked or analyzed. 3. Clearwater does not currently have the required internal business
Words: 2119 - Pages: 9
