ACC_212_Module 4 Concept Overview Videos_4

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CLEAR MY CHOICE A Company uses job order costing and has chosen direct labor hours to allocate its manufacturing overhead. The company estimates that total direct labor hours to be operated next year are 300,000 hours. The estimated variable overhead is $10 per hour and the estimated fixed overhead costs are $500,000. The predetermined overhead rate is: O a. $7 O b. $16.67 O c. $11.67 Od. $1.67 Oe. None of the answers given NEXT PAGE hp

#3 Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials. Direct labor-hours Direct labor wage rate Machine-hours Multiple Choice O $3.373 The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be: $5,207 $2,450 $6,047 S 71 labor-hours. 13 per labor-hour 131 machine-hours

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A Company uses job order costing and has chosen machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 400,000 hours. The estimated variable overhead is $20 per machine hour and the estimated fixed overhead costs are $800,000. The predetermined overhead rate is: a. None of the answers given b. $22 C. $11 d. $2 e. $40 F5 F6 F7 F8 F9 F10

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Dehner corporation uses a job order costing solution this question

Cavy Company estimates that total factory overhead costs will be $1,011,028 for the year. Direct labor hours are estimated to be 100,700. a.  Determine the predetermined factory overhead rate. Round your answer to the nearest cent.$fill in the blank 8b99eb02a009f9f_1 b.  Determine the amount of factory overhead applied to Job 567 if the amount of direct labor hours is 1,200 and Job 999 if the amount of direct labor hours is 2,800. Job 567 $fill in the blank 8b99eb02a009f9f_2 Job 999 $fill in the blank 8b99eb02a009f9f_3 c.  Prepare the journal entry to apply factory overhead for April according to the predetermined overhead rate.     fill in the blank aa9138f9703b038_2         fill in the blank aa9138f9703b038_4

Using job order costing in a service company Roth Accounting pays Jack Smith $90,000 per year.</p><p> Requirements What is the hourly cost to Roth Accounting for employing Smith? Assume a 30-hour week and a 50-week year. What direct labor cost would be assigned to Client 507 if Smith works 15 hours to prepare Client 507’s financial statements?

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Preparing and using a job cost record to prepare journal entries Ki Technology Co. manufactures DVDs for computer software and entertainment companies. Ki uses job order costing. On April 2, Ki began production of 6,000 DVDs, Job 423, for Paradigm Pictures for $1.20 sales price per DVD. Ki promised to deliver the DVDs to Paradigm Pictures by April 5. Ki incurred the following direct costs: Ki Technology allocates manufacturing overhead to jobs based on the relation between estimated overhead of $574,000 and estimated direct labor costs of job 423 was completed and shipped on April 3. Requirements Prepare a job cost record for job 423. Calculate the predetermined overhead allocation rate (round to two decimal places); then allocate manufacturing overhead to the job. Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to job 423. Wages are not yet paid. Journalize completion of the job and the…

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Cwn company uses a job - order costing system solution this question

A company has an overhead application rate of 120% of direct labor costs. How much overhead would be allocated to a job if it required total labor costing $30,000? O $6.000 O $25.000 O $36,000 O $187.500 O $360.000 Question 10 O.K. Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. O.K. expects to incur $1,100,000 of overhead during the next period and expects to use 50,000 labor hours at a cost of $10.00 per hour. What is O.K. Company's overhead application rate? O 4.55% O 45.45% O 220% O 227% O 2,200% Question 11

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Cavy Company estimates that total factory overhead costs will be $747,937 for the year. Direct labor hours are estimated to be 104,900. a. Determine the:1. Predetermined factory overhead rate. Round your answer to the nearest cent.2. Amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,000 and Job 777 if the amount of direct labor hours is 3,000. Job 345 Job 777 b. Journalize the entry to apply factory overhead for April, assuming Jobs 345 and 777 are the only jobs in production during the month. If an amount box does not require an entry, leave it blank.

The Pacific manufacturing company operates a job order solution this question

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Using ABC in a service company Blanchette Plant Service completed a special landscaping job for Kerry Company. Blanchette uses ABC and has the following predetermined overhead allocation rates: The Kerry job included $750 in plants; $1,300 in direct labor; one design; and 30 plants. Requirements What is the total cost of the Kerry job? If Kerry paid $3,540 for the job, what is the operating income or loss? If Blanchette desires an operating income of 30% of cost, how much should the company charge for the Kerry job?

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Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of period $ 45,000 9,600 68,000 End of Period $ 45,000 19,000 33,500 Inventories Raw materials Work in process Finished goods Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. X Answer is complete but not entirely…

Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of period $ 45,000 9,600 68,000 End of Period $ 45,000 19,000 33,500 Inventories Raw materials Work in process Finished goods Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. X Answer is complete but not entirely…

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