ATTENDANCEThe correct answer is: 4.08Muscat Sayarati Co. uses a job-order costing system with a single plantwide predetermined overhead ratebased on labor-hours. The company based its predetermined overhead rate for the current year on totalfixed manufacturing overhead cost of $525,000, variable manufacturing overhead of $6.00 per labor-hour,and 35,000 labor-hours. The job sheet of Job G828 shows that the number of units in this job order is 45units which incurred total of 90 labor-hours. This job consumed $14/unit of direct materials cost and$64/unit of direct labor costs. What would be the total cost for Job G828 approximately?a.$4,860O b. $4,185O C.None of the given answers.d. $5,400O e.$4,455 tb answerkey%20(1).pdf35 / 235100%64) Calfee Corporation is a manufacturer that uses job-order costing. The company has suppliedthe following data for the just completed year:Beginning inventories:Raw materialsWork in processEstimated total manufacturing overhead at the beginning ofthe yearEstimated direct labor-hours at the beginning of the year2$40,000$ 19,000$ 595,00035,000 direct labor-hoursResults of operations:Raw materials purchased on accountRaw materials (all direct) requisitioned for use inproductionDirect labor costActual direct labor-hours423,00024420,000641,00033.000 direct labor-hoursManufacturing overhead:Indirect labor costOther manufacturing overhead costs incurredCost of goods manufactured143,000531,000S 1,441,000The ending balance in the Work in Process inventory account is:A) S200,000B) $162,000C) $220,000D) S181,000umVA&108.9.7

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Description: ATTENDANCEThe correct answer is: 4.08Muscat Sayarati Co. uses a job-order costing system with a single plantwide predetermined overhead ratebased on labor-hours. The company based its predetermined overhead rate for the current year on totalfixed ma

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Muscat Sayarati Co. uses a job-order costing system.with a single plantwide predetermined overhead rate based on labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $525,000, variable manufacturing overhead of $6.00 per labor-hour, and 35,000 labor-hours. The job sheet of Job G828 shows that the number of units in this job order is 45 units which incurred total of 90 labor-hours. This job consumed $14/unit of direct materials cost and $64/unit of direct labor costs. What would be the total cost for Job G828 approximately? a. $4,860 b. $4,185 O C. None of the given answers. d. $5,400 O e. $4,455

Muscat Sayarati Co. uses a job-order costing system.with a single plantwide predetermined overhead rate based on labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $525,000, variable manufacturing overhead of $6.00 per labor-hour, and 35,000 labor-hours. The job sheet of Job G828 shows that the number of units in this job order is 45 units which incurred total of 90 labor-hours. This job consumed $14/unit of direct materials cost and $64/unit of direct labor costs. What would be the total cost for Job G828 approximately? a. $4,860 b. $4,185 O C. None of the given answers. d. $5,400 O e. $4,455

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 9P: Channel Products Inc. uses the job order cost system of accounting. The following is a list of the...

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Lorrimer 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. 7,580
Overhead application rate Creole Manufacturing Inc. uses a job order cost system and standard costs. It manufactures one product, whose standard cost follows: The standards are based on normal capacity of 2,400 direct labor hours. Actual activity for October follows: Required: 1. Compute the variable and fixed factory overhead rates per unit. 2. Compute the variable and fixed overhead rates per direct labor hour. 3. Determine the total fixed factory overhead based on normal capacity.
During August, Skyler Company worked on three jobs. Data relating to these three jobs follow: Overhead is assigned on the basis of direct labor hours at a rate of 2.30 per direct labor hour. During August, Jobs 39 and 40 were completed and transferred to Finished Goods Inventory. Job 40 was sold by the end of the month. Job 41 was the only unfinished job at the end of the month. Required: 1. Calculate the per-unit cost of Jobs 39 and 40. (Round unit costs to nearest cent.) 2. Compute the ending balance in the work-in-process inventory account. 3. Prepare the journal entries reflecting the completion of Jobs 39 and 40 and the sale of Job 40. The selling price is 140 percent of cost.
Overhead application rate Roll Tide Manufacturing Inc. uses a job order cost system and standard costs. It manufactures one product, whose standard cost follows: The standards are based on normal capacity of 2,700 direct labor hours. Actual activity for March follows: Required: 1. Compute the variable and fixed factory overhead rates per unit. 2. Compute the variable and fixed overhead rates per direct labor hour. 3. Determine the total fixed factory overhead based on normal capacity.
Applying factory overhead Bergan Company estimates that total factory overhead costs will be 620,000 for the year. Direct labor hours are estimated to be 80,000. For Bergan Company, (A) determine the predetermined factory overhead rate using direct labor hours as the activity base, (B) determine the amount of factory overhead applied to Jobs 200 and 305 in May using the data on direct labor hours from BE 16-2, and (C) prepare the journal entry to apply factory overhead to both jobs in May according to the predetermined overhead rate.
Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
Channel 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.
Baldwin Printing Company uses a job order cost system and applies overhead based on machine hours. A total of 150,000 machine hours have been budgeted for the year. During the year, an order for 1,000 units was completed and incurred the following: The accountant computed the inventory cost of this order to be 4.30 per unit. The annual budgeted overhead in dollars was: a. 577,500. b. 600,000. c. 645,000. d. 660,000.
PREDETERMINED FACTORY OVERHEAD RATE Millerlile Enterprises calculates a predetermined factory overhead rate so that factory overhead may be applied to production during the month. It calculates the overhead using three different methods and then decides which one to use. Total estimated factory overhead costs are 540,000. Total estimated direct labor hours are 50,000. Total estimated direct labor costs are 900,000. Total machine hours are estimated to be 80,000. Calculate the predetermined overhead application rates based on (1) direct labor hours, (2) direct labor costs, and (3) machine hours.
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.
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. $68,600
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?