Answer MESSENGERnowPrincess HdolTo Ygl juISent a photo.اسم الطالب : رؤي زهير جميل الأزرق1931609 lll00 : 18 : 48NOUR Company uses a job costing system with two direct costs categories (Direct material anddirect manufactured labor) and one manufacturing overhead cost. NOUR Co. allocated the MOHusing direct manufactured labor costs. The company provided the following information:Budget for 2019Direct material costsDirect manufactured labor costsManufacturing overhead costsActual for 2019800,000730,000511,000840,000705,000423,000During July, the job-cost record for following information about Job #106:Direct material usedDirect manufactured labor costs$67,000$28,000Question 12/20The cost of Job #106 using normal costing method is:1. 0141,760.2. 0135,040.3. o114,600.4. o111,8005. ONone of these answers.

Absorption costing means a method of costing where all fixed overhead has been absorbed on the basis…

NOUR Company uses a job costing system with two direct costs categories (Direct material and direct manufactured labor) and one manufacturing overhead cost. NOUR Co. allocated the MOH using direct manufactured labor costs. The company provided the following information: Budget for 2019 840,000 705,000 423,000 Actual for 2019 Direct material costs Direct manufactured labor costs Manufacturing overhead costs 800,000 730,000 511,000 During July, the job-cost record for following information about Job #106: Direct material used Direct manufactured labor costs $67,000 S28,000 Questien 12/20 The cost of Job #106 using normal costing method is: 1. 0141,760. 2. 0135,040. 3. ol14,600. 4. ol11,800 5. ONone of these answers.

NOUR Company uses a job costing system with two direct costs categories (Direct material and direct manufactured labor) and one manufacturing overhead cost. NOUR Co. allocated the MOH using direct manufactured labor costs. The company provided the following information: Budget for 2019 840,000 705,000 423,000 Actual for 2019 Direct material costs Direct manufactured labor costs Manufacturing overhead costs 800,000 730,000 511,000 During July, the job-cost record for following information about Job #106: Direct material used Direct manufactured labor costs $67,000 S28,000 Questien 12/20 The cost of Job #106 using normal costing method is: 1. 0141,760. 2. 0135,040. 3. ol14,600. 4. ol11,800 5. ONone of these answers.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter9: Cost Accounting For Service Businesses, The Balanced Scorecard, And Quality Costs

Section: Chapter Questions

Problem 8P

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JOB ORDER COSTING WITH UNDER- AND OVERAPPLIED FACTORY OVERHEAD M. Evans Sons manufactures parts for radios. For each job order, it maintains ledger sheets on which it records direct labor, direct materials, and factory overhead applied. The factory overhead control account contains postings of actual overhead costs. At the end of the month, the under- or over applied factory overhead is charged to the cost of goods sold account. Factory overhead is applied on the basis of direct labor hours. For Job Nos. 101, 102,103, and 104, direct labor hours are 12, 000, 10,000, 11, 000, and 18,000, respectively. The overhead application rate is 1.20/direct labor hour. (a) Purchased raw materials on account, 50,000. (b) Issued direct materials: (c) Issued indirect materials to production, 8,000. (d) Incurred direct labor costs: (e) Charged indirect labor to production, 15,000. (f) Paid electricity bill, taxes, and repair fees for the factory and charged to production, 8,000. (g) Depreciation expense on factory equipment, 30,000. (h) Applied factory overhead to Job Nos. 101104 using the predetermined factory overhead rate (see above). (i) Finished Job Nos. 101103 and transferred to the finished goods inventory account as products N, O, and P. (j) Sold products N and for 50,000 and 45,400, respectively. (k) Transferred under- or over applied factory overhead balance to the cost of goods sold account. REQUIRED 1. Prepare general journal entries to record transactions (a) through (k). 2. Post the entries to the work in process and finished goods accounts only and determine the ending balances in these accounts. 3. Compute the balance in the job cost ledger and verify that this balance agrees with that in the work in process control account.
A new company started production. Job 1 was completed, and Job 2 remains in production. Here is the information from the job cost sheets from their first and only jobs so far: Using the Information provided. A. What Is the balance in work in process? B. What Is the balance in finished goods inventory? C. If manufacturing overhead is applied on the basis of direct labor hours, what is the predetermined overhead rate?
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.
NEED A, B, C, D, E, AND F. Sorrento Products uses a job costing accounting system for its manufacturing costs. A predetermined overhead rate based on machine-hours is used to apply overhead to individual jobs. An estimate of overhead costs at different volumes was prepared for the current year as follows. Machine-hours 198,000 212,000 258,000 Variable overhead costs $ 752,400 $ 805,600 $ 980,400 Fixed overhead costs 1,780,800 1,780,800 1,780,800 Total overhead $ 2,533,200 $ 2,586,400 $ 2,761,200 The expected volume is 212,000 machine-hours for the entire year. The following information is for March, when Jobs 302 and 304 were completed: Inventories, March 1 Raw materials and supplies $ 92,900 Work in process (Job 302) 198,500 Finished goods 499,000 Purchases of raw materials and supplies Raw materials $ 1,363,400 Supplies 177,200 Materials and supplies requisitioned for production Job 302 $ 621,500 Job 304 526,300 Job 305…
Wolseley’s dilemma of Traditional Costing versus Activity Based Costing Wolseley Manufacturing Corporation manufactures various electronics products and follows a traditional (job-order) costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labour-hours (DLHs). The company has two products, C18R and G19R, about which it has provided the following data: C18R G19R Direct materials per unit $10.20 $50.50 Direct labour per unit $8.40 $25.20 Direct labour hours per unit 0.40 1.20 Annual production 30,000 10,000 The company's estimated total manufacturing overhead for the year is $1,464,480 and the company's estimated total direct labour-hours for the year is 24,000.The company is considering using a variation of activity-based costing to determine its unit product costs for external reports. Data for this proposed activity-based costing system appear below: Activities…
Frary Corporation is a building contractor. Frary tracks product costs in its job cost system and uses board feet to apply overhead to jobs. Frary has calculated an overhead rate of $61.52 per board foot and they have recorded the following information for job number E4641: Direct labor hours: 45 Direct labor rate: $17.14 Direct material: $5,784.00 Total board feet: 243 The total cost of job number E4641 is: Select one: A. $20,733.36 B. $6,555.30 C. $5,862.66 D. $9,323.70 E. $21,504.66
3. Joven Manufacturing, Inc. uses a job order costing system. The company usespredetermined overhead rates in applying manufacturing overhead to individual jobs. Thepredetermined overhead rate in Department A is based on direct labor hours, the rate inDepartment B is based on machine hours, and the rate in Department C is based on directlabor cost. At the beginning of the most recent year, members of Joven's management teammade the following estimates for the year: Department . A B CDirect labor hours 80,000 26,000 60,000Machine hours 50,000 85,000 23,000Direct labor cost P400,000…
3. Joven Manufacturing, Inc. uses a job order costing system. The company usespredetermined overhead rates in applying manufacturing overhead to individual jobs. Thepredetermined overhead rate in Department A is based on direct labor hours, the rate inDepartment B is based on machine hours, and the rate in Department C is based on directlabor cost. At the beginning of the most recent year, members of Joven's management teammade the following estimates for the year: Department . A B CDirect labor hours 80,000 26,000 60,000Machine hours 50,000 85,000 23,000Direct labor cost P400,000…
3. Joven Manufacturing, Inc. uses a job order costing system. The company usespredetermined overhead rates in applying manufacturing overhead to individual jobs. Thepredetermined overhead rate in Department A is based on direct labor hours, the rate inDepartment B is based on machine hours, and the rate in Department C is based on directlabor cost. At the beginning of the most recent year, members of Joven's management teammade the following estimates for the year: Department . A B CDirect labor hours 80,000 26,000 60,000Machine hours 50,000 85,000 23,000Direct labor cost P400,000…
Hamada company uses normal costing to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). During 2020, Indirect manufacturing labor cost incurred $1,300,000. The journal entry is: a. Work-in-Process Control debit $1,300,000 and Wages payable control credit $1,300,000. b. Manufacturing Overhead Control debit $1,300,000 and Materials Control credit $1,300,000. c. Wages payable control debit $1,300,000 and Work-in-Process Control credit $1,300,000. d. Wages payable control debit $1,300,000 and Manufacturing Overhead Control credit $1,300,000.
C15Q5 Need help Using the step-down method, allocate support-department costs. Develop overhead rates per direct manufacturing labor-hour for machining and assembly. Allocate the costs of the support departments in the order given in this problem. Use the allocation base for each support department you think is most appropriate. 2. Using the direct method, rework requirement 1. 3. Based on the following information about two jobs, determine the total overhead costs for each job by using rates developed in (a) requirement 1 and (b) requirement 2. Direct Manufacturing Labor–Hours Machining Assembly Job 88 23 2 Job 89 5 22 4. The company evaluates the performance of the operating department managers on the basis of how well they managed their total costs, including allocated costs. As the manager of the Machining Department, which allocation method would you prefer from the results obtained in requirements…
Please see picture. Required information Skip to question [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Beginning of period End of Period Raw materials $ 29,000 $ 59,000 Work in process 9,600 18,500 Finished goods 64,000 33,200 Cost incurred for the period Raw materials purchases $ 181,000 Factory payroll 150,000 Factory overhead (actual) Indirect materials used 16,000 Indirect labor used 34,500 Other overhead costs 91,500 Incurred other actual overhead costs (all paid in Cash). Applied overhead to work in process. Prepare journal entries for the above transactions for the period.