الوقت المتبقي 39:34All the following companies is most likely to use a job order costing system, EXCEPTMarketing consultancy company.a Onone of the given answers is correct .b OMuscat Private Hospital.c OSugar refinery factory .d OLegal services company.eAhmed is considering his plans for the coming weekend. He is currently working as a marketingspecialist in a big advertising company. He normally spends the weekend with family but this weekendhe is thinking of going on a camping trip that would cost him about $1,900. At the same time, hismanager asked him whether he can help during the weekend and the company will be willing to payhim an overtime bonus of $1,000. If Ahmed goes on the camping trip, he can manage to provide anumber of quick consultancy services that would earn him around $2,500. If Ahmed decided to go on?($) the camping trip what would be the opportunity cost of that decision600.a O1,900 .b О2,500.c ONone of the given answers .d O1,000 .e Oالصفحة التالية

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All the following companies is most likely to use a job order costing system, EXCEPT Marketing consultancy company .a O .none of the given answers is correct .b O Muscat Private Hospital .c O Sugar refinery factory .d O Legal services company .e O

All the following companies is most likely to use a job order costing system, EXCEPT Marketing consultancy company .a O .none of the given answers is correct .b O Muscat Private Hospital .c O Sugar refinery factory .d O Legal services company .e O

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter17: Job Order Costing (job)

Section: Chapter Questions

Problem 7R: Nutts management is very concerned about the cost of overhead on its jobs. When jobs are complete,...

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Stan is opening a coffee shop next to Big State University. He knows that controlling his costs will be important to the success of the shop. He will not be able to work all the hours the shop is open, so the employees will need some guidelines to perform their jobs correctly. After talking to an accounting professor, he decides he needs a standard cost system for his shop. Describe the process Stan should follow in setting his standards for materials and labor.
Assume you are the manager for the semi-trucks division at the Speedy Delivery Company. The semi-truck division is a cost center and you are reviewing the driver overtime costs for the previous year, shown here: A. Microsoft Excel or another spreadsheet application, create a line chart with markers showing the driver overtime expense. Describe your observations. B. Knowing that safety is important in your industry and weather plays a significant role in the safety of drivers, you decide to talk with the safety manager and obtained the following information: Using Microsoft Excel or another spreadsheet application, create individual line charts with markers showing the average snowfall and non-company highway accidents. Describe your observations and actions you might consider.
Darnell Poston, owner of Poston Manufacturing, Inc., wants to determine the cost behavior oflabor and overhead. Darnell pays his workers a salary; during busy times, everyone works to getthe orders out. Temps (temporary workers hired through an agency) may be hired to pack and prepare completed orders for shipment. During slower times, Darnell catches up on bookkeep-ing and administrative tasks while the salaried workers do preventive maintenance, clean the lines and building, etc. Temps are not hired during slow times. Darnell found that workers’ sal-aries, temp agency payments, rentals, utilities, and plant and equipment depreciation are the largest dollar accounts. He believes that workers’ salaries and plant and equipment depreciationare fixed, temp agency payments are associated with the number of orders (since temp workers are used to pack and prepare completed orders for shipment), and electricity is associated with the number of machine hours. When the number of different parts…
This exercise is using the question in the picture, but replacing some of the information as listed below. Please answer question 2 & 3 from the question in the picture, with the changed information. *Assume Direct Labor workers make $20 per hour, so with the given labor cost per job, you can determine the number of hours worked. CHANGE the Exercise to say that Overhead is applied at the rate of $32 per direct labor hour. ALSO CHANGE to say that Job #39 and Job #40 were completed and sold, while Job #41 and Job #42 are complete but not sold, and Job #43 is not completed yet.*
You are interviewing for an accountant position with Smith Industries. There are several candidates, and you intend to stand out. You learn the company is not satisfied with the timeliness of its information and its inventory management. The company manufactures custom-order holiday decorations and display items. To show your abilities, you plan to recommend the company use a job order accounting system., include recommendations and why a job order costing system would be advantageous to the company.
44-Oman Textiles LLC appointed a new accountant in the place of old accountant as old accountant shifted his job to the other company. The CEO of the company met the new accountant and guided him the compute the cost of every product, service, a job or a customer and show them in separate headings before providing the cost data to him. The items for which cost measurement is required is known as; O a. Cost Object O b. Cost unit O c. None of the given options O d. Cost driver
Determine whether each of the following companies is best suited for a job order cost system or a process costing system, or both. Explain why a. Delillo Construction Co. b. Dell Computer Co. (the big computer manufacturer in Texas) c. BP Gasoline Refinery d. Buzzeo & Co. CPAs (an accounting firm)
The Business 182, Section EG class for the Spring, 2021, has completely outperformed expectations. As such, we have been hired by Trek Bike Company to build a new hybrid bike. We will build the bike in a warehouse and sell it in a storefront. Because Trek’s Bikes are so expensive and so unique, we will deploy a Job Costing system. Journalize the following transactions or make the necessary calculations: 1. Calculation. Building a bicycle is labor intensive. And as such, we think the best way to allocate overhead is on Direct Labor Hours. At the beginning of the year, we estimate the following annual items: Warehouse Rent $8,000 Storefront Rent $7,000 Manufacturing Supervisor Salary $40,000 Storefront Supervisor Salary $50,000 Indirect Materials $10,000 Total Machine Hours 29,000 Hours Total Labor Hours 10,000 Hour Calculate the Budgeted Overhead Rate for the year. 2. January 10th We start building our first bike. We will call it Job…
Elite Consulting Ltd offers a range of immigration consulting services. The company’s service costingsystem estimates the cost of each consulting job by accumulating costs of the professional labour thatworks on the job plus a charge for overhead.The cost of professional labour is charged to jobs using the following three rates:Cost per hour Charge out rate for billing system Visa application $300 per hour $630 per hourVisa extension $75 per hour $350 per hourAAT appeal $225 per hour $1000 per hour The predetermined overhead rate is based on professional labour costs, which are budgeted to be$663600 for the current year. The estimated overhead costs for the current year are budgeted to be:Management salaries $850,000Salaries of administration staff $285,000Depreciation on IT hardware and software $240,000Office supplies $2,250Telecommunications $3,150Insurance $150,000Depreciation on office fixtures and fittings $11,250Rent $100,000Electricity $45,000Council rates $23,300 During June…
Nutts management is very concerned about the cost of overhead on its jobs. When jobs are complete, overhead costs should be between 15% and 20% of total costs. For example, the labor cost on Job 8958 is 25% of total costs, higher than the norm. Open Job 8961 and click the Chart sheet tab. A pie chart appears showing the cost components on that job. Record the labor cost percentage in the space provided. Repeat this for each of the jobs worked on in August. Did Nutt maintain good cost control on all its jobs? Explain. Worksheet. During September, Job 8963 required two additional material requisitions to complete the job. Open JOB8963 and modify the job cost sheet to include an area for four direct material requisition entries instead of three. Then enter the following two materials requisitions onto the worksheet: Preview the printout to make sure it will print neatly on one page, and then print the worksheet. Save the completed worksheet as JOBT. Chart. Open JOB8964 and click the Chart sheet tab. Prepare a bar chart for JOB8964 showing the amount of material, labor, and overhead required to complete the job. Use the Chart Data Table found in rows 4246 as a basis for preparing the chart. Enter your name somewhere on the chart. Save the file again as J0B8964. Print the chart.
Types of Responsibility Centers Consider each of the following independent scenarios: a. Terrin Belson, plant manager for the laser printer factory of Compugear Inc., brushed his hair back and sighed. December had been a bad month. Two machines had broken down, and some factory production workers (all on salary) were idled for part of the month. Materials prices increased, and insurance premiums on the factory increased. No way out of it; costs were going up. He hoped that the marketing vice president would be able to push through some price increases, but that really wasnt his department. b. Joanna Pauly was delighted to see that her ROI figures had increased for the third straight year. She was sure that her campaign to lower costs and use machinery more efficiently (enabling her factories to sell several older machines) was the reason why. Joanna planned to take full credit for the improvements at her semiannual performance review. c. Gil Rodriguez, sales manager for ComputerWorks, was not pleased with a memo from headquarters detailing the recent cost increases for the laser printer line. Headquarters suggested raising prices. Great, thought Gil, an increase in price will kill sales and revenue will go down. Why cant the plant shape up and cut costs like every other company in America is doing? Why turn this into my problem? d. Susan Whitehorse looked at the quarterly profit and loss statement with disgust. Revenue was down, and cost was upwhat a combination! Then she had an idea. If she cut back on maintenance of equipment and let a product engineer go, expenses would decreaseperhaps enough to reverse the trend in income. e. Shonna Lowry had just been hired to improve the fortunes of the Southern Division of ABC Inc. She met with top staff and hammered out a 3-year plan to improve the situation. A centerpiece of the plan is the retiring of obsolete equipment and the purchasing of state-of-the-art, computer-assisted machinery. The new machinery would take time for the workers to learn to use, but once that was done, waste would be virtually eliminated. Required: For each of the above independent scenarios, indicate the type of responsibility center involved (cost, revenue, profit, or investment).
In the decision by a grocery company that is trying to decide whether to keep or drop the bakery department in its grocery stores, what would the bakery managers salary be in relationship to the decision if the manager will be laid off?