Items 17 and 18 are based on the following information: During March, SOFIA COMPANY incurred the following costs on Job 109 for the manufacture of 200 motors: Original cost accumulation: Direct costs of reworking 10 units: Direct materials 660 Direct materials 100 Direct labor 800 Direct labor 160 Factory overhead (150% of DL) 1,200 2,660 260 17. The rework coats were attributable to the exacting specifications of Job 109, and the full rework costs were charged to this specific job A P 15.80 B P 14.60 C P 14.00 D P 13.30 18. If the rework coat was the result of an internal failure due to the employee error, what is the cost per unit of Job 109? АР 15.80 В P 14.60 C P 14.00 D P 13.30
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 events occurred during March for Ajax Company. Materials were purchased on account…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
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: Condotti's Co's Job Order No. 205 for the manufacture of 6,600 coats was completed during August at…
A: Spoilage means defect or wastage of materials during production. Spoilage loss is included in the…
Q: Mazoon Leather Company decided to use a multiple predetermined overhead rate to apply manufacturing…
A: Predetermined overhead rate for primary treatment = Manufacturing overhead cost / Direct labor hours…
Q: Items 15 and 16 are based on the following data: SOL COMPANY's Job 501 for the manufacturing of…
A: SOLUTION- SPOILAGE IS A WASTAGE OR LOSS OF MATERIAL THAT OCCURS DURING THE MANUFACTURING PROCESS.
Q: Jenny Company's Job No. 520 for the manufacture of 6,600 coats was completed December at the…
A: Job order costing: Job order costing is one of the methods of cost accounting under which cost is…
Q: Pro-Craft Company computed the following activity rates to allocate overhead cost for the year.…
A: Activity-based costing is used to distribute the overhead. This method is used to allocate the…
Q: Blue Co.'s Job 405 for the manufacture of 2,200 wagons was completed during August at the unit costs…
A: Here in this question, we are required to calculate unit cost of goods. When spoilage loss…
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: ABC Company uses job-order costing and has assembled the following cost data for the production and…
A: Job Costing: Job costing is a process of recording the cost on the basis of manufacturing job…
Q: For the year ended December 31,2030, Jane Inc. incurred the following cost on Job Order 01 for…
A: Rework cost - Rework refers to the correction of the product when the product does not meet the…
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: The following information is from the materials requisitions and time tickets for Job 9-1005…
A: Definition: Job order costing: The job order cost system provides a separate record of each…
Q: Near Company's Job 205 for the manufacture of 6,600 coats was completed during February at the…
A: Job costing is a method and type of costing in which all types of costs are assigned and accumulated…
Q: (The following information opplies to the questions displayed below] Information on Kwon…
A: The cost of goods manufactured includes direct materials, direct labor and applied overhead cost.
Q: The total cost of units completed during the period was a.$88,000 b.$171,600 c.$240,240…
A: Given information is: Department S had no work in process at the beginning of the period. It added…
Q: During the month, Job #2 used specialized machinery for 350 hours and incurred $700 in utilities on…
A: Applied overhead = predetermined overhead rate x no. of hours = 1.50 per machine hour x 350 hours =…
Q: Zea Company’s Job 888 manufactured 13,750 units that were completed in February at unit costs…
A: Unit cost of good units = (Total cost incurred - Realizable value of spoiled units) / No. of good…
Q: Prepare the summary journal entry to record all direct materials used during the period.
A: Direct Materials is the prime cost which is used for the production of the Final product. The Raw…
Q: Job 75 incurred the following costs for the manufacture of 200 units of motors: Original cost…
A: This question require us to cost cost of Job 75. When rework cost is directly attributable to…
Q: Ethel Corporation has provided the following information for transactions that occurred during…
A: Solution: The amount of factory overhead to be back-flushed was = Applied conversion cost - Direct…
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: Nadia Company's Job No. 310 (for the manufacture of 6,600 coats) was completed on September 20 at…
A: Job costing is characterized as a technique for recording the expenses of a blue-collar position, as…
Q: Jack Company's production report for Job #901 showed that 5 vehicle parts out of 100 vehicle parts…
A: Job costing is a method of costing that is designed to keep a track of the cost, of individual…
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: ABC Company produces products that require a process costing method. For the first year of…
A: The total cost of producing a product, including raw materials and operating costs, is detailed in a…
Q: The following information is from the materials requisitions and time tickets for Job 9-1005…
A: Job costing is a form of costing method in which costs are collected and accumulated for each…
Q: During March, Mark Company incurred the following costs on Job 209 for the 200 motors: Original cost…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: The following information is from the materials requisitions and time tickets for Job 9-1005…
A: given that, the overhead cost would equal 110% of direct labor cost. total cost of the job =…
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: Mazoon Leather Company decided to use a multiple predetermined overhead rate to apply manufacturing…
A: Calculation of predetermined rate for primary treatment =( manufacturing cost + labour…
Q: Assume that the defective goods were charged to all jobs, what is the cost ransferred to finish…
A: Overhead means the cost incurred indirect in factory for the production of goods. Job costing means…
Q: 18. During March, Sky Company incurred the following costs on Job 109 for the manufacture of 200…
A: Cost per finished unit of job109=Original cost +Rework cost200 motors=P2,660+P260200 motors=P14.60…
Q: Southern Rim Parts estimates its manufacturing overhead to be $385,000 and its direct labor costs to…
A: Job costing: It is a method of costing where in all the costs like direct material, direct labor and…
Q: During August of the current year, Job 067 for 2,000 handsaws was completed at the following cost…
A: Cost per unit means the cost incurred to produce one unit. Any expenses incurred to rectified the…
Q: 18, 19 and 20 are based from the following information: At the end of the 20x9 fiscal year, RAVE…
A: The unadjusted cost of goods sold comprises of direct cost and factory overhead applied during the…
Q: During August of the current year, Job 067 for 2,000 handsaws was completed at the following cost…
A: Internal failure costs : Internal failure costs are costs that are caused by products or services…
Q: Harper Company's Job 301 for the manufacture of 2,200 T-shirts was completed during August 2014 at…
A: Total cost of spoiled 200 t-shirts = 200 x P56 = P11,200 The spoiled T-shirts sold to jobber at…
Q: ABC Company’s Job 123 for the manufacture of 2,000 bags was completed during June 2022 at the…
A: Total manufacturing costs of a job includes direct material costs, direct labour costs and factory…
Q: Assume that the defective goods were charged to all jobs, what is the cost transferred to finish…
A: Job costing is a method of costing in which the cost will be allocated to each job to find out the…
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: Lopez Company started and completed Job 9, produced 10,000 units, during previous month. Cost…
A: Solution: Computation of Total Cost of Job 9 Particulars Dept A Dept B Dept. C Total Direct…
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: The following information is from the materials requisitions and time tickets for Job 9-1005…
A:
Q: Department S had no work in process at the beginning of the period. It added 11,000 units of direct…
A: Conversion cost = Direct labor cost + Factory overhead cost Conversion cost are costs incurred to…
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 =…
HI KINDLY ANSWER ON THE ATTACHED FILE. THANK YOU SO MUCH :)
Step by step
Solved in 3 steps with 2 images
- 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.Entries for process cost system Pori Ormond Carpel Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting Department, where carpel hacking is added al the beginning of the process and the process is completed. On January 1, Port Ormond Carpet Company had the following inventories: Finished Goods 62,000 Work in ProcessSpinning Department 35,000 Work in ProcessTufting Department 28,500 Materials 17,000 Departmental accounts are maintained for factory overhead, and both have zero balances on January 1. Manufacturing operations for January are summarized as follows: a Materials purchased on account 500,000 b Materials requisitioned for use FiberSpinning Department 275,000 Carpet backingTufting Department 110,000 Indirect materialsSpinning Department 46,000 Indirect materialsTufting Department 39,500 c. Labor used Direct laborSpinning Department 185,000 Direct laborTufting Department 98,000 Indirect laborSpanning Department 18,500 Indirect laborTufting Department 9,000 d Depreciation charged on fixed assets: Spinning Department 12,500 Tufting Department 8,500 e. Expired prepaid factory insurance: Spinning Department 2,000 Tufting Department 1,000 f. Applied factory overhead Spinning Department 80,000 Tufting Department 55,000 g Production costs transferred from Spinning Department to Tufting Department 547,000 h Production costs transferred from Tufting Department to Finished Goods 807,200 i. Cost of goods sold during the period 795,200 Instructions 1. Journalize the entries to record the operations, identifying each entry by letter. 2. Compute the January 31 balances of the inventory accounts. 3. Compute the January 31 balances of the factory overhead accounts.Nutt Products manufactures screws and bolts made to customer specifications. During August, Nutt incurred the following manufacturing costs: direct materials, 28,019.00; direct labor, 15,276.75; and applied factory overhead, 9,854.50. The following data pertain to these costs: The overhead application rates are 4 per direct labor hour for Dept. 1 and 175% of direct labor cost for Dept. 2. Nutt had no beginning work in process for August. Job 8958, which cost 14,190.18 to manufacture, was completed in July and was sold on account in August for 19,000. The job cost sheet for this job is shown on page 103. Of the jobs begun in August, Job 8961 was completed and sold on account for 24,000, Jobs 8962 and 8964 were completed but not sold, and Job 8963 was still in process. As cost accountant for this company, you have been asked to prepare job cost sheets for each of the four jobs started in August. Review the printed worksheet called JOB that follows these requirements.
- 19. Darlene, Inc. manufactures item “B500” per the design and specification of its customers, and accordingly uses the job order costing system. In March 2022, it finished 10,000 pieces for a customer at a cost of P50.00 per unit for direct materials and P40.00 per unit for direct labor. Factory overhead is applied at 100% of direct labor cost. The production incurred 500 defective units due to an error in the specifications made by the customer and that had to be reworked at a direct labor cost of P10.00 per unit. If the customer is billed at 25% above cost, how much is the billing price?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. 862.50Job 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?
- 2. 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 P3,150ABC Company’s Job 123 for the manufacture of 2,000 bags was completed during June 2022 at the following unit costs:· Direct Materials, P20· Direct Labor, P18· Overhead (including allowance of P1 for spoiled work), P18 Final inspection of Job 123 disclosed 100 spoiled bags which were sold to an online store for P1,985. Determine the total cost of completed units.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?
- 36. Belo Products provided the following information: · Raw materials on hand- P85,000· Raw materials used (including indirect materials of P35,000)- P258,000· Labor (including indirect labor of P22,000; selling of P45,000; and administrative of P60,000)- P275,00 · Manufacturing overhead costs (including indirect materials and indirect labor)- P135,000 · Abnormal wasted materials and labor - P25,000· Finished goods on hand- P160,000 How much inventory should be reported in the statement of financial position?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 1,170,000