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  • Latihan Soal

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    This document contains 3 practice questions about cost accounting: 1) Calculating costs such as direct materials used, total manufacturing cost, cost of goods manufactured, and cost of goods sold for a company in June. 2) Using the high-low method to calculate fixed overhead costs, variable overhead rate per labor hour, and estimating overhead costs for a company in September. 3) Constructing a cost formula for labor costs from an ordinary least squares regression of cost data, and estimating utility costs for a company in October based on the formula and employee hours.

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    2. LATIHAN SOAL

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    This document contains 3 practice questions about cost accounting: 1) Calculating costs such as direct materials used, total manufacturing cost, cost of goods manufactured, and cost of goods sold for a company in June. 2) Using the high-low method to calculate fixed overhead costs, variable overhead rate per labor hour, and estimating overhead costs for a company in September. 3) Constructing a cost formula for labor costs from an ordinary least squares regression of cost data, and estimating utility costs for a company in October based on the formula and employee hours.

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    © All Rights Reserved
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    22 views1 page

    Latihan Soal

    Uploaded by

    apriliawsab
    This document contains 3 practice questions about cost accounting: 1) Calculating costs such as direct materials used, total manufacturing cost, cost of goods manufactured, and cost of goods sold for a company in June. 2) Using the high-low method to calculate fixed overhead costs, variable overhead rate per labor hour, and estimating overhead costs for a company in September. 3) Constructing a cost formula for labor costs from an ordinary least squares regression of cost data, and estimating utility costs for a company in October based on the formula and employee hours.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    LATIHAN SOAL

    SOAL 1

    In June, Olympic Company purchased materials costing $38,000, and incurred direct labor cost of
    $42,000. Overhead totaled $27,000 for the month. Information on inventories was as follows:
    June 1 June 30
    Materials $3,000 $2,700
    Work in process 1,000 1,275
    Finished goods 2,500 1,775
    Required:
    A. Calculate the cost of direct materials used during June.
    B. Calculate the total manufacturing cost for June.
    C. Calculate the cost of goods manufactured for June.
    D. Calculate cost of goods sold for June.

    SOAL 2

    Below are the overhead costs and labor hours for Smith & Co.
    Month Overhead Costs Labor Hours
    January $ 9,640 490
    February 12,680 680
    March 11,080 580
    April 11,720 620
    May 13,000 700
    June 10,120 520
    July 8,840 440
    August 6,600 300
    Required: Using the high-low method:
    1.) Calculate the fixed cost of overhead.
    2.) Calculate the variable rate per labor hour.
    3.) Construct the cost formula for total overhead cost.
    4.) The company is estimating that in September the labor hours will be 600. How much should they
    estimate to have in total overhead cost for September?

    SOAL 3
    Tamo Company used an Excel spreadsheet program to run ordinary least squares on a set of cost data
    for its utility cost. The cost driver for labor cost is employee hours. The following results were
    produced.
    Intercept 1,145
    X Variable 13.82
    Required:
    Construct the cost formula for Tamo’s labor cost using the results from the method of
    A.
    least squares.
    Using the formula computed in (A), what is the estimated cost of utilities for October
    B.
    assuming that Tamo will incur 560 employee hours?

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