Staley Toy Co. ACCOUNTING: What the Numbers Mean
Not what you're looking for?
Manufacturing Overhead-multiple application bases. Staley Toy Co. makes toy flutes. Two manufacturing overhead application bases are used; some overhead is applied on the basis of machine hours at a rate of $7.20 per machine hour, and the balance of the overhead is applied at the rate of 250% of direct labor cost.
Required:
a) Calculate the cost per unit of a production run of 1,420 toy flutes that required:
1. Raw materials costing $960.
2. 36 direct labor hours costing $612.
3. 60 machine hours.
b) At the end of September, 1,310 of these toy flutes had been sold. Calculate the ending inventory value of the toy flutes still in inventory at September 30.
Purchase this Solution
Solution Summary
A post explaining the calculations around handling the accounting sheets for Staley Toy Co.
Purchase this Solution
Free BrainMass Quizzes
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Lean your Process
This quiz will help you understand the basic concepts of Lean.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.