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Product Description
Beginning work-in-
process
Ending inventory
60,000
followsRequired Prepare a
cost of production report for current month. Use
Weighted Average process costing.
ACCT 344 Week 3 Homework
1. Question: Alliance Company manufactures two
products (brushes and combs). The overhead
costs have been divided into four cost pools that
use the following activity drivers..
a. Compute the allocation rates for each of the
activity drivers listed.
b. Allocate the overhead costs to Products S and
T using activity-based costing
c. Compute the overhead rate using machine
hours under the functional-based costing system.
d. Allocate the overhead costs to Products S and
T using the functional-based costing system
overhead rate calculated in part (c).
method.
2. Question: Mike's Meats incurs costs of $4,000
while processing raw chicken meat into three
products: breasts, wings, and thighs. The meat is
then sold to local grocery stores based on the
following..
Required: (Calculate relative quantity to three
decimal points.)
a. Determine the cost and gross profit percentage
for each type of chicken using the physical units
method of joint cost allocation.
b. Repeat part (a) using the sales-value-at-split-of
method of joint cost allocation.
c. The company has an opportunity to sell wings
to local restaurants for $1.00 per pound but
additional packaging is required, which will cost
$300 per 1,000 lb. Assuming the physical unit
method is used to allocate joint costs, should the
ofer be accepted?
Week 6 Homework
1. Question: The following information is used for
Lucky's Inc.s monthly master
budget..
expense of $7,000.
Required:
a. Prepare a performance report for all costs,
showing static budget variances (indicate F or U).
b. Prepare a performance report for all costs,
showing flexible budget variances (indicate F or
U).