For the year ended December 31 2017, Waltz Company incurred the following costs on job number 007 for manufacturing 500 units:   Original cost accumulation: Direct materials      P800,000 Direct labor              500,000 Manufacturing         125,000   Direct costs of reworking 200 units Direct materials       P320,000 Direct labor                200.000 What is the cost per unit of Job number 007 if the rework costs were attributed to internal failure?

Q: For the year ended December 31, 2017, Waltz company incurred the following costs on job number 007…

A: Total cost  = Original cost accumulation + direct cost of reworking 200 units =…

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A: Formula: Applied manufacturing overhead =  Number of Actual hours x  Rate per hour.

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A:

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Q: For the year ended December 31, 2017, Waltz Company incurred the following costs on job number 007…

A: Internal failure cost would not be added to the total cost per unit. So total costs per unit are…

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A: 1. Factory overhead cost incurred = Indirect materials + Indirect labor + Utilities expense + Rent…

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A: Rework cost -  Rework refers to the correction of the product when the product does not meet the…

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A: A ledger is a log or list of accounts that keep track of account transfers.

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A: Note: Credit balance of Manufacturing overhead control means overheads are overapplied.

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A: Predetermined overhead rate is calculated by dividing the estimated budgeted overhead by total…

Q: 4)Crane Company uses job order costing for its brand new line of sewing machines. The cost incurred…

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A: Manufacturing overhead control has a debit balance of P20,000 which means that actual overhead cost…

Q: At the end of 2018, Furry Balls Co. Had the following account balances after factory overhead had…

A: Solution 20: If under or overapplied overhead is considered as immaterial, same will be closed to…

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A: The Answer is Option (c) $2200 for explanation Refer Step2

Q: For the year ended December 31, 2017, Waltz Company incurred the following costs on job number 007…

A: Solution: Manufacturing overhead application rate = Manufacturing overhead applied / Direct labor =…

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A: The overhead is applied to the production on the basis of predetermined overhead rate.

Q: Barnabal Company's Job 205 for the manufacture of 6,600 coat was completed during August 2016 at the…

A: The question is based on the concept of Cost Accounting.

Q: A company absorbs factory overheads at a rate of N$25per direct labour hour. During 2021 all…

A: Total actual overhead = Indirect labour cost + Indirect materials used + Depreciation of office…

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A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: For the year ended December 31, 2017, Waltz Company incurred the following costs on job number 007…

A: Given information,   Original costs: Direct materials=P800,000 Direct labour =P500,000…

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A: The question is based on the concept of Cost Accounting.

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A: Step 1 Cost of goods sold (COGS) is the carrying value of goods sold during a particular period.

Q: For the year ended December 31, 2017, Waltz Company incurred the following costs on job number 007…

A: Total cost  = Original cost accumulation + direct cost of reworking 200 units =…

Q: At the end of 2018, Furry Balls Co. Had the following account balances after factory overhead had…

A: Solution a: As under or over applied overhead is considered as immaterial, therefore same will be…

Q: Sicily Company reported the following actual cost data for the year:  purchase of raw materials (all…

A: Manufacturing overheads  All the indirect cost which is incurred while the production of goods is…

Q: Build Company is a manufacturing company and uses job order costing system. At the beginning of…

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Q: 29. Tippy Cup Co. also incurred $10,550 for factory overhead and 250 hours of direct labor at $10.30…

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A: Factory overhead for reworked units=Direct labor×Factory overhead's original costDirect labor…

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A: All amounts are in (P).

Q: For the year ended December 31, 2030, Jane Inc. incurred the following costs on Jon Order 01 for…

A: Job order costing is a method of costing in which all costs are assigned and accumulated on the…

Q: For the year ended December 31, 2017, Waltz Company incurred the following costs on job number 007…

A: Total cost  = Original cost accumulation + direct cost of reworking 200 units =…

Q: The following information relates to Dela Cruz Company for last year. Dela Cruz uses direct labor…

A: Overheads means all type of indirect costs that are incurred for production and manufacturing of…