cussions Question 6 -/1 ferences View Policies laborations Current Attempt in Progress ileyPLUS Support Cherryville Company charges $61 per hour for labor and has a 42% material loading charge. A recent job required 20 hours and $2,000 of materials. Calculate the total cost of the job. HL Central ffice 365 Badges O $4,060 O $4,572.40 Piazza O $3,220 O $2,840 8:43 PM ) 11/18/2019 hp ho 1 ins prt sc delete home end K4 backspace lock P 7 home K 4 enter
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- 2nl phary sutcln I0.19 Aceoutivg Total Problem 6 A factory uses a job costing system. The following data ar vailable from the books pertaining to job No. A-5: Materials (direct): 14.60 Kg@ Tk. 2.50 Kg. Wages (direct): Department X 18 hours @ Tk.. 3.50 per hour Department Y 32 hours aTk. 3.00 per hour Budget overhead for the year based on normal capacity is as follows Variable overhead: Department X Tk. 5.400 for 9.000 direct labor hours Department Y Tk. 8.000 for 10.000 direct labor hours Fixed overhead: Total budget direct labor hours for whole factory 22,000 Total budget expenditure Tk. 16.500 Required: (i) Compute the factory overhead rate. (ii) Calculate the total cost of job No. A-5 (iii) Estimate the percentage of profit obtained if the price quoted to the eustomer is Tk. 350 (iv) Suppose the actual fixed overhead costs and direct labor hours used in the factory are Tk. 19.000 and 24.000 hours respectively. then what would be the amount of under applied or over applied?Consider the job card Order 204 off bracket Material costs Previous type A123 £545 Production cost centres Blanking 80 hours Labour OAR Machine time 40 hours £45 unit sale price Assembly £5.50/hour 140 hours Machine hour base £20/hour Labour hour base N/A Job number 11 Finishing £4/hour 60 hours £4.50/hour £9/hour Labour hour base £12/hour N/A General OAR 18% of production cost Calculate the profit per cost unit, giving your answer in £ to the nearest penny (omitting the £ symbol). For example, for £12.3456 you would enter 12.35 Type your answer.....ndenccinstructure.com/courses/3788/assignments/35969 Question 19 View Policies -/1 Current Attempt in Progress Bangor Company manufactures two products, Velveeto and Fondant. Bangor has estimated overhead costs as follows: setting up machines ($160,000), machining ($300,000) and inspecting ($100,000). Information on the two products follows: Velveeto Fondant Direct labor hours 60,000 100,000 Machine setups 2,400 1,600 Machine hours 96,000 104,000 Inspections 3,200 2,800 Overhead is applied to Fondant using direct labor hours. What is the total amount of overhead charged to this product line using traditional costing? $280,000 O $210,000 $350,000 O $105,000 2:29 PM 10/13/2019 e
- es D ♪ Mc Graw Classes N Netflix Activity Assembly Product design Electricity Setup Total Craftmore Machining reports the following budgeted overhead cost and related data for this year. Budgeted Cost $ 477,750 73,500 24,500 61,250 $ 637,000 Activity Cost Driver Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) Setups Required 1 25 Required 2 Dashboard Activity Cost Driver Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) Setups Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. 2. Job 31 used 320 direct labor hours and Job 42 used 560 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. 3. Compute an activity rate for each activity using activity-based costing. 4. Allocate overhead costs to Job 31 and Job 42 using activity-based costing. 80 Job 31 Activity Usage Required 3 320 35 60 5 Complete this question by…Per Unit Total\\nDirect materials $ 5.00 \\nDirect labor 2.00 \\nSupervision 1.90 $ 123,500\\nDepreciation 1.40 $ 91,000\\nVariable manufacturing overhead 0.60 \\nRent 0.60 $ 39,000\\nTotal product cost $ 11.50 \\n \\n\\nIf Futura decides to make the starters, a supervisor would have to be hired (at a salary of $123,500) to oversee production. However, the company has sufficient idle tools and machinery such that no new equipment would have to be purchased. The rent charge above is based on space utilized in the plant. The total rent on the plant is $81,000 per period. Depreciation is due to obsolescence rather than wear and tear.\\n\\n \\n\\nRequired:\\n\\nWhat is the financial advantage (disadvantage) of making the 65,000 starters instead of buying them from an outside supplier?ance of fini ploys 20 fi eted ave na sing ded i sts fr the 14) 11) Corp makes jackets and uses machine-hours as the single indirect-cost rate to allocate O/H. The following estimates are provided for the coming year for the company overall and for Job 101 specifically. Company $40,000 $10,000 Job 101 $2,000 $400 Manufacturing overhead costs $45,000 Machine-hours 100,000 mh Direct materials Direct labor 900 mh What is the annual manufacturing overhead cost-allocation rate for Corp's entire company (plant-wide) rate? 12) What amount of O/H costs will be allocated to Job 101? 13)What are the total manufacturing costs of Job 101? 14) What is the bid price (price the company offers to do the work for) for the job if the company uses a 40% markup of total manufacturing costs? 15) Corp applies O/H to products at a budgeted indirect-cost rate of $60 per DLH. A retail outlet has requested a bid on a special order of a necklace. Estimates for this order include: DM of $50,000; 400 DLH at $20 per…
- ok nt ences May June July 37,000 57,000 67,000 Assume the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these c 37,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost Required 1 Nova Company's management wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $234,760 of overhead cost in July was maintenance cost. (Hint: To do this, it may be helpful to determine how much of the $234,760 consisted of utilities and supervisory salaries. Think about the behavior of variable costs.) 2. Using the high-low method, estimate a cost formula for maintenance in the form Y = a +bX. 3. Express the company's total overhead cost in the form Y = a +bX. 4. What total overhead cost would you expect at an activity level of 42,000 machine-hours? $ 154,360 $ 207,960 $ 234,760 Complete this question by…Waterford Applicati... Exam Ili esc 29 02:42:38 Mc Graw Hill WileyPLUS B Bloomberg for Edu... Sales commissions Direct labor F1 Use the following data to compute total factory overhead costs for the month: Indirect materials Factory utilities Indirect labor Direct materials Corporate office salaries Depreciation-factory equipment Multiple Choice O O $145,200. $133,100. F2 $50,400. Help Save & ExitB NOWv2 | Online teachir X + ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... Ⓒ Thomlin Company forecasts that total factory overhead for the current year will be $17,280,000 with 180,000 total machine hours. Year to date, the actual overhead is $8,220,000, and the actual machine hours are 82,200 hours. If Thomlin Company uses a predetermined factory overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is a. $328,800 underapplied Ob. $391,200 overapplied Oc. $328,800 overapplied Od. $391,200 underapplied 8:15 A 5/2/202 H U a 1 C
- gerial Accounting - Spring21 urses / ACCT2121_yasserg_Spring21 / Midterm Exam One / Midterm Exam Time left 1:56:19 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 800,000 hours. The estimated variable overhead is $5 per machine hour and the estimated fixed overhead costs are $400,000, The predetermined overhead rate is: a. None of the answers given O b. $0.5 $2.5 Od. $5.5 e. $11 A Company uses ajob order costing system and allocates its manufacturing overhead costs based on direct labor costs. The Company's production costs for the year were: direct labor, $50.000; direct materials, $75.000%3; and factoryoverhead applied $5.000. The predetermined overhead rate dp 9 6YPLUS Kimmel, Accounting, 7e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT National Corporation needs to set a target price for its newly designed product M14-M16. The following data relate to this new product. RESOURCES OMEWORK --05 -07 -09 -11 a-b Per Unit Total Direct materials $21 -16 Direct labor $41 --01A -02A -03A Variable manufacturing overhead Fixed manufacturing overhead $14 $1,264,000 Variable selling and administrative expenses $ 4 Fixed selling and administrative expenses $ 1,106,000 Its by Study These costs are based on a budgeted volume of 79,000 units produced and sold each year. National uses cost-plus pricing methods to set its target selling price. The markup percentage on total unit cost is 40%. Compute the total variable cost per unit, otal fixed cost per unit, and total cost per unit for M14-M16. Variable cost per unit 2$ Fixed cost per unit Total cost per unit 24 MacBookEXERCISE 1 XYZ Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity $45,000 80,000 15,000 30,000 50,000 Number of moves Material-handling costs.. Machine costs... 450 Machine hours.. Number of orders. Number of parts.. Number of setups.. 20,000 Order costs.. 750 Receiving costs.. Setup costs.. 50,000 250 Assume that each activity corresponds to a process. XYZ's normal activity is 5,000 direct labor hours. The following two jobs were completed during March: Job X-1 Job Y-4 $1,500 $750 Direct materials $2,000 $750 Direct labor ($15 per hour)... Units completed... Number of moves. Machine hours.. Number of orders. Number of parts. Number of setups.. 200 200 3 6 125 75 3 12 200 800 1 4 Required: 1. Determine the unit cost for each job using direct labor hours to apply overhead.
