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Blackmon construction builds vacation homes in the Colorado Mountains. The company has developed the following value chart: Operations...

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Blackmon construction builds vacation homes in the Colorado Mountains. The company has developed the following value chart;Operations Avg. Number of Days;Receiving material 4;Storing materials 12;Measuring and cutting materials 8;Handling materials 6;Setting up and moving scaffolding 5;Assembling materials 4;Building fireplace 11;Pegging logs 5;Cutting and framing doors and windows 3;Sealing joints 4;Waiting for county inspectors 5;Inspecting property 2;What are the value-added activities total times?;35;49;41;36;Using the same information as Question #19, what are the non-value added activities total time?;40;51;39;34;Short Answers: For each question below, please show as much work as possible as the you can receive partial credit for your work and the answers you give.;Ralph Lauren makes summer dresses for women. The following information was gathered from the company records for 2013, the first year of company operations. Work in process inventory at the end of 2013 was $15,500.;Direct Material purchased on account$ 650,000;Direct Material issued to production 440,000;Direct Labor payroll accrued 305,500;Indirect labor payroll accrued 92,000;Prepaid factory insurance expired 6,000;Factory utilities paid 21,500;Depreciation on factory equipment recorded 35,500;Factory rent paid 155,000;Sales 1,250,000;The company?s gross profit rate for the year was 25 percent of sales.;Compute the cost of goods sold for 2013?;What was the total cost of goods manufactured for 2013?;What is the Finished Goods Inventory at December 31, 2013?;If Net Income was $105,000, what were total selling and administrative expenses for the year?;Lynx Inc. has a total of 2,350,000 in production overhead costs. The company?s products and related statistics follow.;Product A Product B;Direct material in pounds 145,500 180,500;Direct labor hours 28,000 35,500;Machine hours 50,500 25,000;Number of setups 400 800;Number of units produced 12,500 5,500;Total direct material costs was 525,000 and 300,000 units were produced. One direct labor hour is $10.;Assume Lynx uses machine hours to apply overhead to products. Determine the total cost for each product and the cost per unit.;Assume Lynx uses number of setups to apply overhead to products. Determine the total cost for each product and the cost per unit.;DONE BY 12pm tomorrow or earlier.

 

Paper#75864 | Written in 18-Jul-2015

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