Bismite Corporation purchases trees from Cheney lumber and p…

Bismite Corporation purchases trees from Cheney lumber and processes them up to the split-off point where two products (paper and pencil casings) emerge from the process. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October:           Trees processed:       310 trees         Production:               paper                            190,000 sheets                                          pencil casings              190,000         Sales:                        paper                           178,000 at $0.10 per page                                          pencil casings              189,000 at $0.14 per casing   The cost of purchasing 310 trees and processing them up to the split-off point to yield 190,000 sheets of paper and 190,000 pencil casings is $13,500.   Bismite’s accounting department reported no beginning inventory.   If the sales value at split-off method is used, what are the approximate joint costs assigned to ending inventory for paper? (Round intermediary percentages to the nearest hundredth.)

Use the following information to answer questions 12-15.   R…

Use the following information to answer questions 12-15.   Roberts Corporation manufactured 100,000 buckets during February. The overhead cost-allocation base is $5.00 per machine-hour. The following variable overhead data pertain to February:                                                                           Actual                                              Budgeted Production                                                 100,000 units                                100,000 units Machine-hours                                             9,800 hours                                 10,000 hours Variable overhead cost per machine-hour     $5.25                                              $5.00 What is the actual variable overhead cost? 

Brown Corporation manufactured 3,000 chairs during June. The…

Brown Corporation manufactured 3,000 chairs during June. The following variable overhead data pertain to June:   Budgeted variable overhead cost per unit                                                       $ 12.00 Actual variable manufacturing overhead cost                                                 $33,600 Flexible-budget amount for variable manufacturing overhead                     $36,000 Variable manufacturing overhead efficiency variance                                    $720 unfavorable What is the variable overhead flexible-budget variance? 

Global Manufacturing Inc. uses normal costing during the yea…

Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in a job costing system. At year end, it uses the adjusted allocation rate approach to account for underallocated or overallocated overhead. During 2018, Global’s manufacturing overhead was underallocated by 10%. Job 117 had the following costs:   Direct materials $1,600 Direct labor $3,400 Manufacturing overhead allocated $2,000   Which of the following would be the after adjustment cost of Job 117?

Jean Peck’s Furniture manufactures tables for hospitality se…

Jean Peck’s Furniture manufactures tables for hospitality sector. It takes only bulk orders and each table is sold for $500 after negotiations. In the month of January, it manufactures 3,100 tables and sells 2,700 tables. Actual fixed costs are the same as the amount of fixed costs budgeted for the month.    The following information is provided for the month of January:           Variable manufacturing costs        $130 per unit                                                     Fixed manufacturing costs            $105,000 per month         Fixed Administrative expenses     $30,000 per month   At the end of the month Jean Peck’s Furniture has an ending inventory of finished goods of 400 units. The company also incurs a sales commission of $13 per unit.   What is the gross margin when using absorption costing? (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)