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Golden Ring Company produces two types of product: Large and Larger. Two work orders for two batches of the products are shown below, along with some additional cost information:   ​ Large Larger ​ Work Order 10 Work Order 11 Direct materials (actual costs) $45,000 $75,000 ​ ​ ​ Applied conversion costs: ​ ​ Mixing ? ? Cooking $12,000 $12,000 Bottling $10,000 $15,000 ​ ​ ​ Batch size (bottles) 5,000 5,000 ​ In the Mixing Department, conversion costs are applied on the basis of direct labor hours. Budgeted conversion costs for the department for the year were $50,000 for labor and $125,000 for overhead. Budgeted direct labor hours were 2,500. It takes three minutes to mix the ingredients needed for each bottle. Large (Work Order 10) and Larger (Work Order 11) flow through the Mixing Department first, then through the Cooking and Bottling departments. What is Golden Ring Company’s unit cost of Large?

Aquamarine Company produces car batteries. The following information is provided for the month of April with respect to conversion costs: Units Work-in-process (WIP) inventory, April 1 (30% complete) 6,000 Units transferred in 30,000 Work-in-process inventory, April 30 (60% complete) 4,000 ​ Materials are added at the start of the process. Compute the equivalent units with respect to conversion costs using the first-in, first-out method? ​

A(n) __________ costing system first traces costs to activities and then to products.

Basic guidelines that should be followed when allocating support department costs include

Grey, Inc., uses a predetermined rate to apply overhead. At the beginning of the year, Grey estimated its overhead costs at $220,000, direct labor hours at 55,000, and machine hours at 20,000. Actual overhead costs incurred were $233,250, actual direct labor hours were 62,000, and actual machine hours were 15,000. ​ If the predetermined overhead rate is based on machine hours, what is the total amount credited to the factory overhead account for the year for Grey?

_________ and _________ studies may be used in conjunction with the industrial engineering method.

Canmore Company has the following data pertaining to 2018: ​ Beginning materials inventory $ 50,000 Beginning work-in-process inventory 0 Beginning finished goods inventory 0 Materials placed into production 125,000 Materials purchased on account 137,500 Direct labor incurred (10,000 hours) 62,500 Cost of goods completed (Job BB8) 25,000 ​ Factory overhead rate is 125 percent of direct labor costs. What is the ending materials inventory balance for Canmore in 2018?

Costs of normal spoilage are included in overhead and applied to all good units produced.

A correlation coefficient near 0 means that two variables are _________.

Beginning inventory consisted of 1,000 units with costs of $31,000. All materials and 60 percent of labor and overhead were added in the prior period. In addition, another 8,000 units were started and completed. Unit costs are materials, $8.00; labor, $20.00; overhead, $9.00. What is the total cost of goods transferred out using FIFO?