For the year ended December 31,2030, Jane Inc. incurred the following cost on Job Order 01 for manufacturing of 1,000 units: Original cost accumulation       Direct Materials:           1,000,000       Direct Labor:                   800,000       Factory Overhead:          200,000 Direct Cost of reworking 100 Units:       Direct Materials:           200,000       Direct Labor:                 400,000   1.What is the cost per unit of Job 01 if the rework cost were attributable to the exacting specification of Job order 01? 2. What is the cost per unit of Job 01 if the rework cost were attributable 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 =…

Q: Aspen Company estimates its manufacturing overhead to be $635,000 and its direct labor costs to be…

A: Overhead rate =Estimated manufacturing overheadEstimated direct labour cost=$635000$508000=125% of…

Q: Harper Company’s Job 301 for the manufacture of 2,200 t-shirts was completed during August 2020 at…

A: Answer -  Part 1 -  Calculation of unit cost of the goods produced on Job 301 -  Particulars…

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A: Finished goods = Direct material + Direct labor + Overhead as per rate

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A: Manufacturing overhead is the cost incurred on the production of the goods.

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A: Workings:

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Q: Please show the solution in good accounting form For the year ended December 31, 2020, UA Inc.…

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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…

Q: Lagmay incurred the following manufacturing costs: Direct Materials - P60, Direct Labor - P80,000,…

A: Solution Beginning work in process inventory is the inventory which was in process at the beginning…

Q: During 2019, Oriole Company expected Job no. 59 to cost $300000 of overhead, $560000 of materials,…

A: Overapplied/Under applied Overhead Cost = Actual Overheads - Applied Overhead if Applied Overheads…

Q: ABC Company has only one job in process on January 1, 2022, Job No. 97 for 75 units, carried at a…

A: Job order costing is the system of costing where the work is performed as per the specific job.  The…

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A: Overhead cost is applied on the basis of Budgeted overhead rate.   Formula for Overhead rate:…

Q: Harper Company’s Job 301 for the manufacture of 2,200 t-shirts was completed during August 2020 at…

A: Spoilage in simple terms refers to the damaged unit of production. Spoilage is categorized into…

Q: During March, Hart Company incurred the following costs on Job 122 for the manufacture of 200…

A: Cost per finished unit = Total cost / Total number of units where, Total cost = Production cost +…

Q: At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the…

A: Predetermined Overhead Rate = Estimated overhead cost for the year Estimated level of activity for…

Q: At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: Prepare the summary journal entry to record all direct materials used during the period.

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A:

Q: Southern Rim Parts estimates its manufacturing overhead to be $495,000 and its direct labor costs to…

A: The inverse of underapplied administrative costs is overapplied overhead. When actual expenses are…

Q: The Childers Company manufactures widgets. During the fiscal year just ended, the company incurred…

A: Prime cost = Direct material cost + Direct labor cost Conversion cost = Direct labor cost + Overhead…

Q: Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a…

A: Plantwide predetermined overhead rate is a single allocation rate that is used to allocate total…

Q: Southern Rim Parts estimates its manufacturing overhead to be $374,500 and its direct labor costs to…

A:

Q: At the beginning of the year, Custom Mfg. established Its predetermined overhead rate by using the…

A: Solution 1: Overhead rate Choose Numerator / Choose Denominator = Overhead rate Estimated…

Q: Swift Engineering works in the production of Lawn movers. During the accounting year ended on June…

A: Cost of goods manufactured: The total amount of cost incurred by a company in manufacturing process…

Q: A company uses job-order costing and allocates overhead costs using direct labor hours as the cost…

A: Manufacturing Cost: Manufacturing cost refers to the costs incurred by an organization in order to…

Q: At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the…

A: Predetermined overhead rate: Predetermined overhead rate is calculated befor the period begins. This…

Q: the design and specification of its customers, and accordingly uses the job order costing system.…

A: in managerial accounting , the job costing is very popular. job costing methods it is used when a…

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 =…

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…

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

A: If rework cost is incurred to meet the specification of product / job , then it is included in the…

Q: Onix Manufacturing Company Inc uses direct labor hours in its predetermined overhead rate. At the…

A: Lets understand the basics. Overhead rate is calculated to applied on actual output using below…

Q: A company uses a predetermined overhead rate based on direc labor hours to apply manufacturing…

A: Predetermined overhead rate = estimated total manufacturing overhead cost / direct labor-hours =…

Q: For the year ended December 31, 2020, UA Inc. incurred the following costs on Job Order 201 for…

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

Q: Aspen Company estimates its manufacturing overhead to be $625,000 and its direct labor costs to be…

A: Overhead rate = Estimated manufacturing overhead/Estimated direct labor cost = $625,000/$500,000 =…

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A: Underapplied or Overapplied overheads: The opposite of overapplied overhead is underapplied…

Q: Company XYZapplies overhead cost to jobs on the basis of direct labior cost. Job A, which was…

A: Option d is correct. Question says that overhead cost is applied on the basis of labour cost. Job A…

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

A: Rework costs are those costs which are incurred for making the defective products ready for use in…

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 applies to the questions displayed below.] Sweeten Company had no jobs in…

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

Q: During May, ABC Corporation incurred the following costs on Job A for the manufacture of 2,000…

A: Total manufacturing cost of reworking = (Direct material + direct labor + Factory overhead) x No. of…

Q: During March, Mark Company incurred the following costs on Job 209 for the 200 motors: Original cost…

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

Q: Prepare an entry to prorate the under- or overapplied overhead. (If no entry is required for a…

A: Introduction: Applied overhead: A fixed rate of expenses that is charged to specific job or…

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: At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the…

A: Predetermined overhead rate= Budgeted Overhead CostBudgeted Direct materials costs×100 Overhead…