Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo)
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Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit:
If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo)
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- Lloyd Industries manufactures electrical equipment from specifications received from customers. Job X10 was for 1,000 motors to be used in a specially designed electrical complex. The followingcosts were determined for each motor: At final inspection, Lloyd discovered that 33 motors did not meet the exacting specifications established by the customer. Anexamination indicated that 18 motors were beyond repair andshould be sold as spoiled goods for 75 each. The remaining15 motors, though defective, could be reconditioned as first-qualityunits by the addition of 1,650 for materials, 1,500 for labor, and1,200 for factory overhead. Required: Prepare the journal entries to record the following: 1. The scrapping of the 18 motors, with the income from spoiledgoods treated as a reduction in the manufacturing cost of thespecific job. 2. The correction of the 15 defective motors, with the additionalcost charged to the specific job. 3. The additional cost of replacing the 18 spoiled motors with newmotors. 4. The sale of the spoiled motors for 75 each. 5. If the reconditioned motors sell for 400 each, is Lloyd betteroff reconditioning the defective motors or selling them as isfor 75 as spoiled goods?Amounts for materials Big Timber Furniture Company manufactures furniture. Big Timber Furniture uses a job order cost system. Balances on June 1 from the materials ledger are as follows: The materials purchased during June are summarized from the receiving reports as follows: Materials were requisitioned to individual jobs as follows: The glue is not a significant cost, so it is treated as indirect materials (factory overhead). a.Determine the total purchase of materials in June. b.Determine the amounts of materials transferred to Work in Process and Factory Overhead during June. c.Determine the June 30 balances that would be shown in the materials ledger accounts.Job 456 manufactured 12,000 units that were completed in February at unit costs presented as follows: Direct materials P35 Direct labor 28 Factory overhead (includes an allowance of P15 Spoiled work) 29Final inspection of Job 456 disclosed 125 spoiled units, which were sold for P22,500.What would be the unit cost of good units if the spoilage loss is attributable to exacting specifications of Job 001?
- Samar Company’s Job 888 manufactured 13,750 units that were completed in February at unit costs presented as follows: Direct materials P300 Direct labor 270 Factory overhead (includes an allowance of P15 Spoiled work) 270Final inspection of Job 888 disclosed 1,250 spoiled units, which were sold for P225,000.What would be the unit cost of good units if the spoilage loss is attributable to exacting specifications of Job 004? a. 840 b. 889.50 c. 825 d. 862.50Integrity Company’s Job 1088 manufactured 13,750 units that were completed in February at unit costs presented as follows:Direct materials- P300Direct labor- 270Factory overhead (includes an allowance of P15 spoiled work)- P270Final inspection of Job 1088 disclosed 1,250 spoiled units, which were sold for P225,000.What would be the unit selling price if the spoilage is attributable to exacting specifications of Job 1088 and the entity maintain a gross profit of 50%?Simar Company’s Job 888 manufactured 13,750 units that were completed in February at unit costs presented as follows: Direct materials P300 Direct labor 270 Factory overhead (includes an allowance of P15 Spoiled work) 270Final inspection of Job 888 disclosed 1,250 spoiled units, which were sold for P225,000.What would be the unit cost of good units if the spoilage loss is attributable to exacting specifications of Job 004?
- Elmer Company’s Job #040335 for the manufacture of 6,600 coats was completed during Marchat the following unit costs:Direct materials P1,500Direct labor 1,000Manufacturing overhead (includes allowances of P50 for spoiled work) 5003,000Final inspection of job #040335 disclosed 600 spoiled coats, which were sold to a jobber forP600,000.29. What would be the unit cost of the good coats produced on job #040335 assuming thatspoilage loss is charged to all production? Attributable to exacting specifications of job#040335?a. 2,950 b. 3,000 c. 3,145 d. 3,200Elmer Company’s Job #040335 for the manufacture of 6,600 coats was completed during Marchat the following unit costs:Direct materials P1,500Direct labor 1,000Manufacturing overhead (includes allowances of P50 for spoiled work) 5003,000Final inspection of job #040335 disclosed 600 spoiled coats, which were sold to a jobber forP600,000.29. What would be the unit cost of the good coats produced on job #040335 assuming thatspoilage loss is charged to all production? Attributable to exacting specifications of job#040335?a. 2,950 b. 3,000 c. 3,145 d. 3,20030. Using the information in item 29, what is the journal entry to record the disposal of thespoiled coats?a. Cash 600,000Manufacturing overhead 1,200,000Work in process -Job #040335 1,800,000b. Cash 600,000Work in process -Job #040335 600,000c. Cash 600,000Abnormal loss 1,200,000Work in process -Job #040335 1,800,000d. Cash 600,000Manufacturing overhead 1,170,000Work in process -Job #040335 1,170,0002. GondolaB Company's Job No. 205 (for the manufacture of 6,600 coats) was completed August, 20M at the following unit costs: Direct materials - P1,500, Direct labor - 1,000, Factory overhead (including allowance of P50 for spoiled work) - 500. Total = P3,000. Final inspection of Job No. 205 disclosed 600 spoiled costs. These were subsequently sold to a jobber for P600,000. Assuming that spoilage loss is chargeable to the particular job, the unit cost of the good coats produced per Job No. 205 must be: P3,145 P2,950 P3,000 P3,150
- Zea Company’s Job 888 manufactured 13,750 units that were completed in February at unit costs presented as follows: Direct materials $300 Direct labor 270 Factory overhead (includes an allowance of P15 Spoiled work) 270Final inspection of Job 888 disclosed 1,250 spoiled units, which were sold for $225,000.What would be the unit cost of good units if the spoilage loss is attributable to exacting specifications of Job 004?16. Accounting Apparel completed 3,600 expensive bags during the 1st quarter of the current year. The following costs per unit are presented below:Direct materials P200Direct labor P180Factory overhead, including P10 allowance for spoilage P180Final inspection revealed that 600 bags were spoiled which were sold as export overrun at an amount equal to 40% of production costs. The good units were delivered and billed to the customer at 20% gross profit.If spoilage is due to customer’s intervention, how much is the total gross profit on the order?ABC Company Job 101 for the manufacture of 2,200 coats, which was completed during October at the unit costs presented below. Final inspection of Job 101 disclosed 200 spoiled coats which were sold to a jobber for P8,000. Direct materials - P20; Direct labor - P18; Factory overhead (includes an allowance of P1 for spoiled work)-P18. Assume that the spoilage loss is attributable to the exacting specifications of Job 101 and is charged to this specific job. What would be the unit cost for the good coats produced on Job 101? Write answer with two decimal places.