All your Writing needs covered

Eagle Co. manufactures bentwood chairs and tables. Wood for both products is steam-bent in the same process, but different types of wood are used for each product. Thus, materials cost is identified separately to each product. One production cycle uses 20 board feet. Labor cost is identified to the process as a whole, as is overhead cost. Data for the month of July follow:   Chairs Tables Direct material cost per board foot $3.60     $4.20 Number of parts formed per production cycle (20 board feet)     10           8 Actual operating hours in July    120       380 Parts produced during July 4,000     9,000 Budgeted annual conversion cost:     Labor   $150,000 Utilities     125,000 Depreciation       65,000 Other overhead      50,000 Total   $390,000       Budgeted annual operating hours for steam-bending       5,200   In your computations, round cost per unit amounts to two decimal places. If required, round final answers to the nearest dollar. a.  Compute July’s predetermined rate for the steam-bending process. b.  Compute July’s direct material costs for chairs and tables. c.  Compute conversion costs to be applied to chairs and tables in July. d.  Journalize the following entries: 1.  Assignment of direct materials to chairs and tables. If an amount box does not require an entry, leave it blank. 2. Application of conversion costs to chairs and tables. If an amount box does not require an entry, leave it blank. 3. The transfer of completed chairs and tables to the Finishing Department. All of July’s production was completed in July. If an amount box does not require an entry, leave it blank.

Calculate the price
of
your order:

275 words
+
Approximate price
$ 0.00

Eagle Co. manufactures bentwood chairs and tables. Wood for both products is steam-bent in the same process, but different types of wood are used for each product. Thus, materials cost is identified separately to each product. One production cycle uses 20 board feet. Labor cost is identified to the process as a whole, as is overhead cost. Data for the month of July follow:



 
Chairs
Tables 


Direct material cost per board foot
$3.60
    $4.20


Number of parts formed per production cycle (20 board feet)
    10
          8


Actual operating hours in July
   120
      380


Parts produced during July
4,000
    9,000


Budgeted annual conversion cost:
 
 


Labor
 
$150,000


Utilities
 
  125,000


Depreciation
 
    65,000


Other overhead
 
   50,000


Total
 
$390,000


 
 
 


Budgeted annual operating hours for steam-bending
 
    5,200



 
In your computations, round cost per unit amounts to two decimal places. If required, round final answers to the nearest dollar.







a.  Compute July’s predetermined rate for the steam-bending process.
b.  Compute July’s direct material costs for chairs and tables.
c.  Compute conversion costs to be applied to chairs and tables in July.

d.  Journalize the following entries:
1.  Assignment of direct materials to chairs and tables. If an amount box does not require an entry, leave it blank.
2. Application of conversion costs to chairs and tables. If an amount box does not require an entry, leave it blank.
3. The transfer of completed chairs and tables to the Finishing Department. All of July’s production was completed in July. If an amount box does not require an entry, leave it blank.

Eagle Co. manufactures bentwood chairs and tables. Wood for both products is steam-bent in the same process, but different types of wood are used for each product. Thus, materials cost is identified separately to each product. One production cycle uses 20 board feet. Labor cost is identified to the process as a whole, as is overhead cost. Data for the month of July follow:

  Chairs Tables
Direct material cost per board foot $3.60     $4.20
Number of parts formed per production cycle (20 board feet)     10           8
Actual operating hours in July    120       380
Parts produced during July 4,000     9,000
Budgeted annual conversion cost:    
Labor   $150,000
Utilities     125,000
Depreciation       65,000
Other overhead      50,000
Total   $390,000
     
Budgeted annual operating hours for steam-bending       5,200

 

In your computations, round cost per unit amounts to two decimal places. If required, round final answers to the nearest dollar.

a.  Compute July’s predetermined rate for the steam-bending process.

b.  Compute July’s direct material costs for chairs and tables.

c.  Compute conversion costs to be applied to chairs and tables in July.

d.  Journalize the following entries:

1.  Assignment of direct materials to chairs and tables. If an amount box does not require an entry, leave it blank.

2. Application of conversion costs to chairs and tables. If an amount box does not require an entry, leave it blank.

3. The transfer of completed chairs and tables to the Finishing Department. All of July’s production was completed in July. If an amount box does not require an entry, leave it blank.

«VPNEW»

Unlock your academic potential with Vintage-paper.com! Place your essay order today and experience top-notch writing services that guarantee academic success. Our expert writers are ready to craft customized papers that will exceed your expectations.Don't wait, order now and elevate your grades

Order Now

Basic features

  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support

On-demand options

  • Writer's samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading

Paper format

  • 275 words per page
  • 12pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, CHicago/Turabian, Havard)

Guaranteed originality

We guarantee 0% plagiarism! Our orders are custom made from scratch. Our team is dedicated to providing you academic papers with zero traces of plagiarism.

Affordable prices

We know how hard it is to pay the bills while being in college, which is why our rates are extremely affordable and within your budget. You will not find any other company that provides the same quality of work for such affordable prices.

Best experts

Our writer are the crème de la crème of the essay writing industry. They are highly qualified in their field of expertise and have extensive experience when it comes to research papers, term essays or any other academic assignment that you may be given!

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00

Expert paper writers are just a few clicks away

Place an order in 3 easy steps. Takes less than 5 mins.