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Provide management accounting information

Question

Activity-based Costing

Losch Engineering allocates its factory overhead using activity-based costing concepts

Application rates used are:

ActivityCostDriver Application rate
Set-upsNumberof set – ups$ 375 per set-up
AssemblyMachine hours$ 60 per Machine hours
 Testing Number of tests$30 per test

Detailsof one product, Arkell, in September are:

Directmaterials$50,000
Directlabour$30,000
Factoryoverhead 
Set-up3 set-ups
Assembly150 machine hours
Testing20 tests
Unitsproduced7,000units

Required:

Calculate for Arkell in September:

(1) Total manufacturing costs

(2) Arkell- Cost per unit

Providemanagementaccountinginformation

Question

Process Costing :Byford Ltd has the following production results for October:

Work in process1-October7,500 units60%complete
Startedin October117,000 units 
Work in process 3l- October6,000 units80% complete

Material A is added at the start of the process and Material B is added at the 75% point of completion . Direct labour and factory overhead are incurred uniformly throughout the process.

Required:

Prepare a schedule that shows the physical units and the equivalent completed units for October assuming the FIFO method of inventory valuation is used.

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