Question 1Below are the details of a production cost center Y, during the period July – December2023:Total budgeted production overhead RM95,000Budgeted production output 2,000 unitsBudgeted direct labour hours 3,500 hoursBudgeted machine hours 4,500 hoursBudgeted direct labour costs RM25,000Budgeted direct material costs RM60,000Details of manufacturing cost for Job No. 77 per units are as follows:Direct material cost RM90Direct labour cost RM30Direct labour hours 6 hoursMachine hours 8 hoursYou are required to:a. calculate the overhead absorption rate (OAR) and cost of overhead beenabsorbed for Job No. 77 using:i. direct materials cost percentage rate (2 marks)ii. direct labour cost percentage rate (2 marks)iii. machine hour (MH) rate (2 marks)iv. direct labour hour (DHL) rate (2 marks)b. calculate the total production cost per unit for Job No. 77 when overhead beenabsorbed using:i. direct materials cost percentage rate (3 marks)ii. machine hour (MH) rate (3 marks)

In the past, four direct labor hours were required to produce each unit of product Y. Material costs were $200 per unit, the direct labor rate was $20 per hour, and factory overhead was three times direct labor cost. In budgeting for next year, management is planning to outsource some manufacturing activities and to further automate others. Management estimates these plans will reduce labor hours by 25%, increase the factory overhead rate to 3.6 times direct labor costs, and increase material costs by $30 per unit. Management plans to manufacture 10,000 units. What amount should management budget for cost of goods manufactured?

During its first month of operations, a manufacturer incurs the following costs (in dollars) related to activities within its factory:Direct materials $15,000Direct labor $30,000Manufacturing overhead $40,000What amount should be reported as cost of goods sold on the income statement if 5,000 units are produced and 4,000 are sold? $56,000 $68,000 $70,000 $85,000

The overhead budget for the month together with data relating to cost centres is as follows: Rs Supervision 7,525 Indirect workers 6,000 Holiday pay and National Insurance 6,200 Tooling cost 9,400 Machine maintenance labour cost 4,500 Power 1,944 Small tools and supplies 1,171 Insurance of machinery 185 Insurance of building 150 Rent and rates 2,500 Depreciation of machinery 9,250 ________ 48,825__ Fundamentals of Cost and Management Accounting (Study Text) 137 | P a g e Machine group Q R S T Total Floor Space (sq meter) 1,800 1,500 800 900 5,000 Kilowatt hours 270,000 66,000 85,000 65,000 486,000 Capital cost of machines (Rs.) 30,000 30,000 8,000 16,000 74,000 Indirect workers (persons) 3 3 1 1 8 Total workers (persons) 19 24 12 7 62 Machine maintenance hours 3,000 2,000 3,000 1,000 9,000 Tooling costs (Rs) 3,500 4,300 1,000 600 9,400 Supervision costs (Rs) 2,050 2,200 1,775 1,500 7,525 Small tools and supplies (Rs) 491 441 66 173 1,171 Machine running hours 30,000 36,000 19,000 8,000 93,000 Allocate and apportion each of the costs given to the four groups of machines on a suitable basis and then calculate a cost per machine running hour (a machine hour rate) for each of the four groups of machines.

The two steps to complete the production budget include: (Check all that apply.)Multiple select question.compute cost of materials purchasesenter materials cost per poundcompute total required unitscompute units to produce

Required informationUse the following information for the Exercise below. (Algo)Skip to question[The following information applies to the questions displayed below.]Trio Company reports the following information for its first year of operations. Direct materials $ 16 per unitDirect labor $ 20 per unitVariable overhead $ 7 per unitFixed overhead $ 390,450 per yearUnits produced 20,550 unitsUnits sold 15,500 unitsEnding finished goods inventory 5,050 unitsExercise 19-1 (Algo) Computing unit and inventory costs under absorption costing LO P11. Compute the product cost per unit using absorption costing.2. Determine the cost of ending finished goods inventory using absorption costing.3. Determine the cost of goods sold using absorption costing.