3. Tarif BOP setiap unit produksi dan tarif BOP setiap jam mesin.Soal 2 (Dikutip dari Vanderbeck, 2010 untuk pengayaan mahasiswa)Water Wonders, Inc., makers of custom-made Jet Skis, completed Job 500on March 31, and there were no jobs in process in the plant. Prior to April1, the predetermined overhead application rate for April was computedfrom the following data, based on an estimate of 40,000 direct labor hours:Estimated variable factory overhead . ......$100,000Estimated fixed factory overhead............200,000.....Total estimated factory overhead . ..... $300,000Estimated variable factory overhead per hour......$ 2.50.......Estimated fixed factory overhead per hour....5.00Predetermined overhead rate per direct labor hour. . . . . .... . . . ....... . . ....$ 7.50The factory has one production department, and the direct labor hourmethod is used to apply factory overhead.244 BAB 11Akuntansi Biaya Overhead PabrikThree jobs are started during the month, and postings are made dailyto the job cost sheets from the materials requisitions and labor-timerecords. The following schedule shows the jobs and the amounts postedto the job cost sheets:ouahDateDirectMaterialsDirectDirect LaborJobStartedApril 1April 12April 15$445,000daraLaborHours401$100,000200,00080,00038,000$120,000250,00075,00012,00018,0008,000402kan403atuk$380,000kanThe factory overhead control account was debited during the monthdarafor actual factory overhead expenses of $325,000. On April 11, Job 401was completed and delivered to the customer at a markup of 25% onhunmanufacturing cost. On April 24, Job 402 was completed and transferredto Finished Goods. On April 30, Job 403 was still in process.Required:1. Prepare job cost sheets for Jobs 401, 402, and 403, includingfactory overhead applied when the job was completed or at the endva)of the month for partially completed jobs.5002. Prepare journal entries as of April 30 for the following:prila. Applying factory overhead to production.b. Closing the applied factory overhead account.tedc. Closing the factory overhead account.rs:d. Transferring the cost of the completed jobs to FinishedGoods.00e. Recording the cost of the sale and the sale of Job 401.Suggestions:501. When completing the job cost sheets, you must first determine how00much overhead should be applied to each job.502. When closing the factory overhead account, the balance willurrepresent the under- or overapplied factory overhead.

Name: 3. Tarif BOP setiap unit produksi dan tarif BOP setiap jam mesin.Soal
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: 3. Tarif BOP setiap unit produksi dan tarif BOP setiap jam mesin.Soal 2 (Dikutip dari Vanderbeck, 2010 untuk pengayaan mahasiswa)Water Wonders, Inc., makers of custom-made Jet Skis, completed Job 500on March 31, and there were no jobs in process in

Job costing is the costing method which is used in the firm where different project have different…

Business

Accounting

3. Tarif BOP setiap unit produksi dan tarif BOP setiap jam mesin. Soal 2 (Dikutip dari Vanderbeck, 2010 untuk pengayaan mahasiswa) Water Wonders, Inc., makers of custom-made Jet Skis, completed Job 500 on March 31, and there were no jobs in process in the plant. Prior to April 1, the predetermined overhead application rate for April was computed from the following data, based on an estimate of 40,000 direct labor hours: Estimated variable factory overhead $100,000 Estimated fixed factory overhead .200,000 Total estimated factory overhead $300,000 Estimated variable factory overhead per hour. $ 2.50 Estimated fixed factory overhead per hour. 5.00 Predetermined overhead rate per direct labor hour . $7.50 The factory has one production department, and the direct labor hour method is used to apply factory overhead.

3. Tarif BOP setiap unit produksi dan tarif BOP setiap jam mesin. Soal 2 (Dikutip dari Vanderbeck, 2010 untuk pengayaan mahasiswa) Water Wonders, Inc., makers of custom-made Jet Skis, completed Job 500 on March 31, and there were no jobs in process in the plant. Prior to April 1, the predetermined overhead application rate for April was computed from the following data, based on an estimate of 40,000 direct labor hours: Estimated variable factory overhead $100,000 Estimated fixed factory overhead .200,000 Total estimated factory overhead $300,000 Estimated variable factory overhead per hour. $ 2.50 Estimated fixed factory overhead per hour. 5.00 Predetermined overhead rate per direct labor hour . $7.50 The factory has one production department, and the direct labor hour method is used to apply factory overhead.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 2PA: York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of...

See similar textbooks

Similar questions

Nutt Products manufactures screws and bolts made to customer specifications. During August, Nutt incurred the following manufacturing costs: direct materials, 28,019.00; direct labor, 15,276.75; and applied factory overhead, 9,854.50. The following data pertain to these costs: The overhead application rates are 4 per direct labor hour for Dept. 1 and 175% of direct labor cost for Dept. 2. Nutt had no beginning work in process for August. Job 8958, which cost 14,190.18 to manufacture, was completed in July and was sold on account in August for 19,000. The job cost sheet for this job is shown on page 103. Of the jobs begun in August, Job 8961 was completed and sold on account for 24,000, Jobs 8962 and 8964 were completed but not sold, and Job 8963 was still in process. As cost accountant for this company, you have been asked to prepare job cost sheets for each of the four jobs started in August. Review the printed worksheet called JOB that follows these requirements.
Potomac Automotive Co. manufactures engines that are made only on customers orders and to their specifications. During January, the company worked on Jobs 007, 008, 009, and 010. The following figures summarize the cost records for the month: Jobs 007 and 008 have been completed and delivered to the customer at a total selling price of 426,000, on account. Job 009 is finished but has not yet been delivered. Job 010 is still in process. There were no materials or work in process inventories at the beginning of the month. Material purchases were 115,000, and there were no indirect materials used during the month. Required: 1. Prepare a summary showing the total cost of each job completed during the month or in process at the end of the month. 2. Prepare the summary journal entries for the month to record the distribution of materials, labor, and overhead costs. 3. Determine the cost of the inventories of completed engines and engines in process at the end of the month. 4. Prepare the journal entries to record the completion of the jobs and the sale of the jobs. 5. Prepare a statement of cost of goods manufactured.
When setting its predetermined overhead application race, Tasty Box Meals estimated its overhead would be $100,000 and would require 25,000 machine hours in the next year. At the end of the year. It found that actual overhead was $102,000 and required 26,000 machine hours. Determine the predetermined overhead rate. What is the overhead applied during the year? Prepare the journal entry to eliminate the under applied or over applied overhead.
Pocono Cement Forms expects $900,000 in overhead during the next year. It does not know whether it should apply overhead on the basis of its anticipated direct labor hours of 60,000 or its expected machine hours of 30,000. Determine the product cost under each predetermined allocation rate if the last job incurred $1,550 in direct material cost, 90 direct labor hours, and 75 machine hours. Wages are paid at $16 per hour.
Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500 machine hours. The cost to make Job 416 is $95 in neon, 15 hours of labor at $13 per hour, and five machine hours. During the month, it incurs $95 in indirect material cost, $130 in administrative labor, $320 in utilities, and $350 in depreciation expense. What is the predetermined overhead rate if machine hours are considered the cost driver? What is the cost of Job 416? What is the overhead incurred during the month?
Abbey Products Company is studying the results of applying factory overhead to production. The following data have been used: estimated factory overhead, 60,000; estimated materials costs, 50,000; estimated direct labor costs, 60,000; estimated direct labor hours, 10,000; estimated machine hours, 20,000; work in process at the beginning of the month, none. The actual factory overhead incurred for November was 80,000, and the production statistics on November 30 are as follows: Required: 1. Compute the predetermined rate, based on the following: a. Direct labor cost b. Direct labor hours c. Machine hours 2. Using each of the methods, compute the estimated total cost of each job at the end of the month. 3. Determine the under-or overapplied factory overhead, in total, at the end of the month under each of the methods. 4. Which method would you recommend? Why?
When setting its predetermined overhead application rate. Tasty Turtle estimated its overhead would be $75,000 and manufacturing would require 25,000 machine hours in the next year. At the end of the year, it found that actual overhead was $74,000 and manufacturing required 24,000 machine hours. Determine the predetermined overhead rate. What is the overhead applied during the year? Prepare the journal entry to eliminate the under- or over applied overhead.
Luna Manufacturing Inc. completed Job 2525 on May 31, and there were no jobs in process in the plant. Prior to June 1, the predetermined overhead application rate for June was computed from the following data, based on an estimate of 5,000 direct labor hours: The factory has one production department and uses the direct labor hour method to apply factory overhead. Three jobs are started during the month, and postings are made daily to the job cost sheets from the materials requisitions and labor-time records. The following schedule shows the jobs and amounts posted to the job cost sheets: The factory overhead control account was debited during the month for actual factory overhead expenses of 27,000. On June 11, Job 2526 was completed and delivered to the customer using a mark-on percentage of 50% on manufacturing cost. On June 24, Job 2527 was completed and transferred to Finished Goods. On June 30, Job 2528 was still in process. Required: 1. Prepare job cost sheets for Jobs 2526, 2527, and 2528, including factory overhead applied when the job was completed or at the end of the month for partially completed jobs. 2. Prepare journal entries as of June 30 for the following: a. Applying factory overhead to production. b. Closing the applied factory overhead account. c. Closing the factory overhead account. d. Transferring the cost of the completed jobs to finished goods. e. Recording the cost of the sale and the sale of Job 2526.
During the month, Job Arch2 used specialized machinery for 350 hours and incurred $700 in utilities on account. $400 in factory depreciation expense, and $200 in property tax on the factory. Prepare journal entries for the following: A. Record the expenses incurred. B. Record the allocation of overhead at the predetermined rate of $1.50 per machine hour.
3. What is the overapplied or underapplied overhead for September? Job Costing Johnson Inc. is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 95,000 and estimated factory overhead is $617,500. The following information is for September of the current year. Job A was completed during September, and Job B was started but not finished September 1, inventories Materials inventory $7,500.00 Work-in-process inventory (All Job A) 31,200.00 Finished goods inventory 67,000.00 Material purchases 104,000.00 Direct materials requisitioned Job A 65,000.00 Job B 33,500.00 Direct labor hours…
Cavy Company estimates that the factory overhead for the following year will be $1,824,500. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 44,500 hours. The machine hours for the month of April for all of the jobs were 5,200. Journalize the entry to record the factory overhead applied in April. If an amount box does not require an entry, leave it blank. - Select - Select - Select - - Select -
Please answer all the requirement otherwise skip it Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding Fabrication Total Machine-hours 23,000 33,000 56,000 Fixed manufacturing overhead cost $ 800,000 $ 280,000 $ 1,080,000 Variable manufacturing overhead cost per machine-hour $ 5.00 $ 2.00 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs—Job D-70 and Job C-200. It provided the following information related to those two jobs: Job D-70 Molding Fabrication Total Direct materials cost $ 370,000 $ 320,000 $ 690,000 Direct labor cost $ 240,000 $ 160,000 $ 400,000 Machine-hours 14,000 9,000 23,000 Job C-200 Molding Fabrication Total Direct materials cost $ 220,000 $ 220,000 $ 440,000 Direct labor cost $ 140,000 $ 260,000 $ 400,000…