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Frick & Frack, Inc. reported the following for the month just ended: Raw MaterialsInventory,beginning balance:...

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Question

Accounting

Frick & Frack, Inc. reported the following for the month just ended:

Raw MaterialsInventory,beginning balance: $33,000

Work in Process Inventory,beginning balance: 48,000

Finished Goods Inventory,beginning balance: 27,000

Raw Materials Purchases: 54,000

Factory electricity: 10,000

Total labor used in production: 56,000

Indirect labor used in production: 24,000

Depreciation on factory equipment: 35,000

Insurance on factory building: 8,000

Raw Materials used in production: 65,000

Raw Materials directly traceable to products: 58,000

Raw Materials indirectly linked to products: 7,000

Cost of Goods Manufactured: 200,000

Cost of Goods Sold: 210,000

Management estimates that manufacturing overhead cost will be $450,000.

USE A thru L Machine Hours:

Estimated: 150,000

Actual: 80,000

Questions:

1.What is the company's predetermined overhead rate?

2. How much is applied manufacturing overhead?

3. What is the total manufacturing cost?

4. Assuming 5,000 units are produced, what is the unit product cost?

5. What is a segment of an organization?

6. How is contribution margin different from segment margin?

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