Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ 3,193 Direct labor-hours 21 labor-hours Direct labor wage rate $ 12 per labor-hour Machine-hours 166 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $15 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be: Multiple Choice $3,220 $3,760 $5,935 $3,445
Q: Newhard Company assigns overhead cost to jobs on the basis of 125% of direct labor cost. The job…
A: Overhead cost = Direct labor cost x 125% = $12,000 x 125% = $15,000
Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…
A: Total machine hours 30,000 Total fixed manufacturing overhead cost=$2,52,000 Fixed overhead rate per…
Q: Bolander Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A:
Q: Job 425 was recently completed. The following data have been recorded on its job cost sheet:…
A: Manufacturing overhead = predetermined overhead rate x Machine-hours = Rs. 18 x 250 machine-hours =…
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A: Predetermined overhead rate for primary treatment = Manufacturing overhead cost / Direct labor hours…
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A: Estimated total manufacturing overhead = variable manufacturing overhead rate per hour * Total…
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A: Predetermined plantwide overhead can be calculated as: = Variable manufacturing overhead rate +…
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A: Manufacturing cost per unit: It is the total per unit manufacturing related cost incurred for the…
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A:
Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…
A: Manufacturing overhead refers to expenses incurred as a result of the manufacturing process but not…
Q: Gerstein Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Beans Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A: Formula: Predetermined overhead rate = Fixed manufacturing overheads / Direct labor hours. Division…
Q: Royal Furniture Co. uses a job-order costing system with a single plantwide predetermined overhead…
A: Job costing means where actual direct cost is included in specific cost and overhead is applied on…
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A: The cost of production or product cost refers to the costs incurred by a corporation in the…
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A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…
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A: Job costing: It is a method of costing where in all the costs like direct material, direct labor and…
Q: Bolander Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A: Predetermined overhead rate = Total fixed manufacturing overhead / Total machine hours =…
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A: Total fixed overhead is allocated based on the predetermined rate which is calculated by dividing…
Q: Harootunian Corporation uses a job-order costing system with a single plantwide predetermined…
A: Manufacturing Overhead:-It is an indirect cost incurred during the production process. It includes…
Q: Lueckenhoff Corporation uses a job-order costing system with a single plantwide predetermined…
A: Predetermined overhead rate = Total fixed manufacturing overhead cost / Total direct labor-hours =…
Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…
A: Overhead: It can be defined as the centrally incurred expense that is not directly related to the…
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A: Prime cost: The prime cost is the cost incurred on direct material and direct labor in the…
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A: Introduction:- Calculation of Predetermined overhead rate as follows under:- Predetermined overhead…
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A:
Q: Decorte Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A: Manufacturing overhead means the expense incurred in factory which is not directly linked with…
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A: Factory overheads (manufacturing overheads) are the fixed costs that don’t change with the…
Q: Doakes Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A: Unit product cost will include direct material , direct labor and manufacturing overhead both fixed…
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A:
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A: Job cost is known as an estimate of the total cost of a customized order in a specific period. It…
Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…
A: Plantwide Predetermined overhead rate = ($252,000 / 30,000 MHs) + $2.10 Plantwide Predetermined…
Q: The following data have been recorded for recently completed Job 623 on its job cost sheet. Direct…
A: The total cost for the job on its job cost sheet would be $6,072.
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A: Predetermined fixed overhead rate = total fixed manufacturing overhead cost / total direct…
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A: Job order costing is a type of costing, under which all costs are being examined and analysed on the…
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A: Formula: Total manufacturing overhead = Fixed manufacturing overhead + Variable manufacturing…
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A: Product cost per unit = Total manufacturing cost / No. of units produced
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A: Manufacturing overheads are the costs incurred in the production of the goods. It includes indirect…
Q: Kostelnik Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A: Job order costing system involves the costing as per the specifications of the customers to…
Q: Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based…
A: 1.
Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…
A: Predetermined overhead rate=Fixed overhead+Machine hours×Variable overhead per hourTotal machine…
Q: Job 910 was recently completed. The following data have been recorded on its job cost sheet:…
A: Total cost of a job included direct costs like direct materials and direct labor and indirect…
Q: Harootunian Corporation uses a job-order costing system with a single plantwide predetermined…
A: Predetermined overhead rate is used to calculate the estimated overhead. One can find whether the…
Q: Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of…
A:
Q: Beans Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A: Job costing is the method of costing which is used in job order industries where production is…
Q: Kubes Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A: Kubes Corporation's Uses job order costing system with single predetermined overhead rate which is…
Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…
A: Estimated total manufacturing overhead = Total fixed manufacturing overhead cost + (Variable…
Q: Royal Furniture Co. uses a job-order costing system with a single plantwide predetermined overhead…
A: Given Direct Material cost for Job F2412 = $350 Direct Labor cost for Job F2412 = $1250…
Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…
A: Overhead means an expenses which is not direclty linked with production or sale but indirectly…
Q: Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based…
A: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…
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- Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500 machine hours. The cost to make Job 416 is $95 in neon, 15 hours of labor at $13 per hour, and five machine hours. During the month, it incurs $95 in indirect material cost, $130 in administrative labor, $320 in utilities, and $350 in depreciation expense. What is the predetermined overhead rate if machine hours are considered the cost driver? What is the cost of Job 416? What is the overhead incurred during the month?Chester Company provided information on overhead for its three producing departments as follows: Overhead is applied on the basis of machine hours in Fabricating and direct labor hours in Assembly and in Finishing. Job #13-198 had total prime cost of 6,700. The job took 40 machine hours in Fabricating, 100 direct labor hours in Assembly, and 20 direct labor hours in Finishing. What is the total cost of Job# 13-198? a. 6,700.00 b. 1,523.20 c. 8,223.20 d. 7,383.20Channel Products Inc. uses the job order cost system of accounting. The following is a list of the jobs completed during March, showing the charges for materials issued to production and for direct labor. Assume that factory overhead is applied on the basis of direct labor costs and that the predetermined rate is 200%. Required: Compute the amount of overhead to be added to the cost of each job completed during the month. Compute the total cost of each job completed during the month. Compute the total cost of producing all the jobs finished during the month.
- Inez has the following information relating to Job AA5. Direct material cost was $200,000, direct labor was $36,550, and overhead applied on the basis of direct labor hours was $73,100. What was the predetermined overhead rate using the labor rate of $17 per hour?York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of direct labor. The cost to make job 0325 is $70 in aluminum and two hours of labor at $20 per hour. During the month. York incurs $50 in indirect material cost. $150 in administrative labor, $300 in utilities, and $250 in depreciation expense. What is the predetermined overhead rate if direct labor hours are considered the cost driver? What is the cost of Job 0325? What is the overhead incurred during the month?Job 19AB required 10,000 for direct materials, 4,000 for direct labor, 300 direct labor hours, 150 machine hours, three material moves, and five component parts. The cost pools and overhead rates for each pool follow: Determine the cost of Job 19AB using the ABC method.
- 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.Compute the total job cost for each of the following scenarios: a. If the direct labor cost method is used in applying factory overhead and the predetermined rate is 100%, what amount should be charged to Job 2010 for factory overhead? Assume that direct materials used totaled 5,000 and that the direct labor cost totaled 3,200. b. If the direct labor hour method is used in applying factory overhead and the predetermined rate is 10 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, and the number of direct labor hours totaled 250. c. If the machine hour method is used in applying factory overhead and the predetermined rate is 12.50 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, the direct labor hours were 250 hours, and the machine hours were 295 hours.Luna Manufacturing Inc. completed Job 2525 on May 31, and there were no jobs in process in the plant. Prior to June 1, the predetermined overhead application rate for June was computed from the following data, based on an estimate of 5,000 direct labor hours: The factory has one production department and uses the direct labor hour method to apply factory overhead. Three jobs are started during the month, and postings are made daily to the job cost sheets from the materials requisitions and labor-time records. The following schedule shows the jobs and amounts posted to the job cost sheets: The factory overhead control account was debited during the month for actual factory overhead expenses of 27,000. On June 11, Job 2526 was completed and delivered to the customer using a mark-on percentage of 50% on manufacturing cost. On June 24, Job 2527 was completed and transferred to Finished Goods. On June 30, Job 2528 was still in process. Required: 1. Prepare job cost sheets for Jobs 2526, 2527, and 2528, including factory overhead applied when the job was completed or at the end of the month for partially completed jobs. 2. Prepare journal entries as of June 30 for the following: a. Applying factory overhead to production. b. Closing the applied factory overhead account. c. Closing the factory overhead account. d. Transferring the cost of the completed jobs to finished goods. e. Recording the cost of the sale and the sale of Job 2526.
- A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the activity for the cost driver was estimated as 2,500 hours. If product A utilized 1,350 hours and product 8 utilized 1,100 hours, what was the total amount of overhead assigned to the products? A. $35000 B. $30.800 C. $37,800 D. $68,600Lorrimer Company has a job-order cost system. The following debits (credits) appeared in the Work-in-Process account for the month of June. During the month of June, direct labor totaled 30,000 and 24,000 of overhead was applied to production. Finished Goods was debited 100,000 during June. Lorrimer Company applies overhead at a predetermined rate of 80% of direct labor cost. Job number 83, the only job still in process at the end of June, has been charged with manufacturing overhead of 3,400. What was the amount of direct materials charged to Job number 83? a. 3,400 b. 4,250 c. 8,350 d. 7,580Collegiate Publishing Inc. began printing operations on March 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs, 4,500 of indirect materials and 8,200 of indirect labor were used during the month. The cost sheets for the four jobs entering production during the month are as follows, in summary form: Journalize the summary entry to record each of the following operations for March (one entry for each operation): a. Direct and indirect materials used. b. Direct and indirect labor used. c. Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost). d. Completion of Jobs 301 and 302.