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Raibornn 5-46
Raiborn 5- 65
65. Products at Redd Manufacturing are sent through two production departments: Fabricating and
Finishing. Overhead is applied to products in the Fabricating Department based on 150 percent of direct
labor cost and $18 per machine hour in Finishing. The following information is available about Job #297:
Fabricating Finishing
Direct material $1,590 $580
Direct labor cost ? 48
Direct labor hours 22 6
Machine hours 5 15
Overhead applied 429 ?
Fabricating Finishing
Raiborn11-29
29. Which of the following is a commonly used joint cost allocation method?
a. high-low method
b. Regres sion analysis
c. approximated sales value at split-off method
d. weighted average quantity technique
ANS: C
Raiborn11-56
Versatile Company produces four solvents from the same process: C, D, E, and G. Joint product costs are
$9,000. (Round all answers to the nearest dollar.)
Disposal Final
If Versatile sells the products after further processing, the following disposal costs will be incurred: C,
$2.50; D, $1.00; E, $3.50; G, $6.00.
56. Refer to Versatile Company. Using a physical measurement method, what amount of
joint processing cost is allocated to Product C?
a. $3,495
b. $2,447
c. $1,748
d. $1,311
ANS: D
(750/5,150) * $9,000 = $1,311
Raiborn11-86
Raiborn 4-28
Raiborn 4-98
Raiborn 7-11
Raiborn 7 51
Marley Company
Standards:
Material 3.0 feet per unit @ $4.20 per foot
Labor 2.5 hours per unit @ $7.50 per hour
Actual:
Production 2,750 units produced during the month
Material 8,700 feet used; 9,000 feet purchased @ $4.50 per foot
Labor 7,000 direct labor hours @ $7.90 per hour
Raiborn 7-74
Raiborn 6-37
Raiborn 6-58
Raiborn 6-89
Cherub Co.
Material A is added at the start of production, while Material B is added uniformly throughout the
process.
89. Refer to Cherub Company Assuming a FIFO method of process costing, compute the
average cost per EUP for Material B.
a. $20.10
b. $31.25
c. $20.00
d. $31.00
ANS: B