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Which of the following would usually be found on a job cost sheet under a normal cost system? Actual Actual direct manufacturing material cost overhead cost A) B) C) Yes Yes Yes No No Yes D) No No

Which of the following would usually be found on a job cost sheet under a normal cost system? Actual Actual direct manufacturing material cost overhead cost A) B) C) Yes Yes Yes No No Yes D) No No

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...
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Choices for Q1

a. $46,154

b. $29,970

c. $11,988
 
d. $41,958

Choices for Q2

a. Choice D

b. Choice A

c. Choice B

d. Choice C

Which of the following would usually be found on a job cost sheet under a normal cost system? Actual Actual direct manufacturing material cost overhead cost A) B) C) Yes Yes Yes No No Yes D) No No
Transcribed Image Text:Which of the following would usually be found on a job cost sheet under a normal cost system? Actual Actual direct manufacturing material cost overhead cost A) B) C) Yes Yes Yes No No Yes D) No No
Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Assembly Total Estimated total machine-hours (MHs) 1,000 4,000 5,000 $4,700 $10,800 $ 2.20 $15,500 Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per machine-hour $ 1.20 During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs follow: Job F Job M $7,400 $8,800 Direct materials $13,000 Direct labor cost $20,400 Machining machine-hours 700 300 Assembly machine-hours 1,600 2,400 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated selling price for Job M is closest to: (Round your intermediate calculations to 2 decimal places.)
Transcribed Image Text:Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Assembly Total Estimated total machine-hours (MHs) 1,000 4,000 5,000 $4,700 $10,800 $ 2.20 $15,500 Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per machine-hour $ 1.20 During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs follow: Job F Job M $7,400 $8,800 Direct materials $13,000 Direct labor cost $20,400 Machining machine-hours 700 300 Assembly machine-hours 1,600 2,400 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated selling price for Job M is closest to: (Round your intermediate calculations to 2 decimal places.)
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