Use the following information for Questions 1 a) and 1 b):a) At the beginning of the year, Juju Sdn. Bhd. estimated the following:Firing DepartmentPolishing DepartmentTotalRMRMRMOverhead405,000110,000515,000Direct labour hours28,750100,000128,750Kiln hours90,00090,000Refer to the information for Juju Sdn. Bhd. above. Juju uses departmental overhead rates. Inthe firing department, overhead is applied on the basis of kiln hours (number of hours spent inthe gas-fired kiln). In the polishing department, overhead is applied on the basis of direct laborhours. Actual data for the month of June are as follows:Firing DepartmentPolishing DepartmentTotalRMRMRMOverhead34,0009,37043,370Direct labour hours2,3508,60010,950Kiln hours7,4007,400Required:i) Calculate the predetermined overhead rates for the firing and polishing departments.ii) Calculate the overhead applied to production in each department for the month of June.iii) Identify whether overhead variance for each department has been overapplied orunderapplied?Question 2a) Refer to the information in Question 1 for data. Now, assume that Juju has decided to usea plantwide overhead rate based on the direct labor hours.Required:i) Calculate the predetermined plantwide overhead rate. (Note: Round to the nearest cent.)ii) Calculate the overhead applied to production for the month of Jun.iii) Calculate the overhead variance for the month of Jun.

Name: Use the following information for Questions 1 a) and 1 b):a) At the b
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Description: Use the following information for Questions 1 a) and 1 b):a) At the beginning of the year, Juju Sdn. Bhd. estimated the following:Firing DepartmentPolishing DepartmentTotalRMRMRMOverhead405,000110,000515,000Direct labour hours28,750100,000128,750Kil

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Use the following information for Questions 1 a) and 1 b): a) At the beginning of the year, Juju Sdn. Bhd. estimated the following: Firing Department Polishing Department Total RM RM RM Overhead 405,000 110,000 515,000 Direct labour hours 28,750 100,000 128,750 Kiln hours 90,000 90,000 Refer to the information for Juju Sdn. Bhd. above. Juju uses departmental overhead rates. In the firing department, overhead is applied on the basis of kiln hours (number of hours spent in the gas-fired kiln). In the polishing department, overhead is applied on the basis of direct labor hours. Actual data for the month of June are as follows: Firing Department Total Polis hing Department RM RM Overhead RM 43,370 34,000 9,370 Direct labour hours 2,350 8,600 10,950 Kilh hours 7,400 7,400 Required: i) Calculate the predetermined overhead rates for the firing and polishing departments. ii) Calculate the overhead applied to production in each department for the month of June. iii) Identify whether overhead variance for each department has been overapplied or underapplied?

Use the following information for Questions 1 a) and 1 b): a) At the beginning of the year, Juju Sdn. Bhd. estimated the following: Firing Department Polishing Department Total RM RM RM Overhead 405,000 110,000 515,000 Direct labour hours 28,750 100,000 128,750 Kiln hours 90,000 90,000 Refer to the information for Juju Sdn. Bhd. above. Juju uses departmental overhead rates. In the firing department, overhead is applied on the basis of kiln hours (number of hours spent in the gas-fired kiln). In the polishing department, overhead is applied on the basis of direct labor hours. Actual data for the month of June are as follows: Firing Department Total Polis hing Department RM RM Overhead RM 43,370 34,000 9,370 Direct labour hours 2,350 8,600 10,950 Kilh hours 7,400 7,400 Required: i) Calculate the predetermined overhead rates for the firing and polishing departments. ii) Calculate the overhead applied to production in each department for the month of June. iii) Identify whether overhead variance for each department has been overapplied or underapplied?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 12PB: The following data summarize the operations during the year. Prepare a journal entry for each...

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The following data summarize the operations during the year. Prepare a journal entry for each transaction. A. Purchase of raw materials on account: $1,500 B. Raw materials used by Job 1: $400 C. Raw materials used as indirect materials: $50 D. Direct labor for Job 1: $200 E. Indirect labor Incurred for Job 1: $30 F. Factory utilities Incurred on account: $500 G. Adjusting entry for factory depreciation: $200 H. Manufacturing overhead applied as percent of direct labor: 100% I. Job 1 is transferred to finished goods J. Job 1 is sold: $1,000 K. Manufacturing overhead is under applied: $100
B. Followings are the account records for Yan Min Factory Sdn Bhd for the year ended 31 December 2021. RMInventory 1 Jan 2021: Raw materials 125,400 Work In Process 131,100 Finished Goods 123,260Purchases of direct raw materials 191,535Purchases of indirect raw materials 58,000Direct labour 184,208Salaries expenses – Administration office 133,419Rent expenses 15,200Utilities expenses – Administration office 14,420Depreciation expenses – Machine (Factory) 10,200Depreciation expenses – Machine (Office) 5,200Sales revenue 818,622Fossil fuel expenses - Factory 8,120 Additional information:1. 3/4 of the rent expenses is for factory while the remaining balance is allocated to administration office. 2. Inventories as at 31 Disember 2021 is as follows:Raw materials : RM120,800Work in process : RM124,600Finished goods : RM128,840REQUIRED:1. Prepare Statement of Goods Manufactured for Yan Min Factory Sdn Bhd…
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1. Determine the total estimated overhead cost for each of the producing departments after allocating the cost of the service department. A. Using employee headcount as the allocation base. B. Using occupied space as the allocation base. C. Using productive capacity as the allocation base. D. Using the 3-year average use as the allocation base.
The management of Casablanca Manufacturing Corporation believes that machine- hours is an appropriate measure of activity for overhead cost Shown below are machine hours and total overhead cost for the past six months: Machine- hours Overhead Cost Jan 150,000 P339,000 Feb 140,000 P328,000 Mar 160,000 P350,000 Apr 130,000 P319,500 May 170,000 P362,500 Jun 200,000 P400,000 Assume that the relevant range included all of the activity levels mentioned in this problem. If Casablanca expects to incur 185,000 machine hours next month, what will the estimated total overhead cost be using the high-low method?
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Bubba Manufacturing Company provided the following information for the fiscal year toJune 30, 2020:Inventories 01/07/2019 30/06/2020Direct MaterialsWork-in-ProcessFinished Goods$72,000107,000149,500$65,000128,000141,700Other information:Office cleaner’s wages 4,500Sales Revenue 1,031,000Raw materials purchased 235,000Factory wages 239,700Indirect materials 23,500Delivery truck driver’s wages 15,400Indirect labor 9,500Depreciation on factory plant & equipment 32,000Insurance 1 60,000Depreciation on delivery truck 7,250Utilities 2 118,750Administrative salaries 41,250Special Design Costs 5,000Selling expenses 9,000Sales Commission 2% of gross profit1 Of the total insurance, 66⅔% relates to the factory facilities & 33⅓% relates to general& administrative costs.2 Of the total utilities, 80% relates to the manufacturing facilities & 20% relates to theoffice area.Requirements:a) What was the amount of direct materials used in production?b) What was the amount of manufacturing…
The following data from the just completed year are taken from the accounting records of MasonCompany:Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $524,000Direct labor cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $70,000Raw material purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $118,000Selling expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $140,000Administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $63,000Manufacturing overhead applied to work in process . . . . . . . . . $90,000Actual manufacturing overhead costs . . . . . . . . . . . . . . . . . . . . $80,000InventoriesBeginning ofYear End of YearRaw materials . . . . . . . . . . . . . . . . . . . . . . . . $7,000 $15,000Work in process . . . . . . . . . . . . . . . . . . . . . . $10,000 $5,000Finished goods . . . . . . . . . . . . . . . . . . . . . . .…
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