Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such ascostumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include itemssuch as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies itsoverhead cost to films based on direct labor-dollars.At the beginning of the year, Yancey made the following estimates:Direct labor-dollars to support all productionsFixed overhead costVariable overhead cost per direct labor-dollarRequired:1. Compute the predetermined overhead rate.2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs:Direct materialsDirect labor cost.Compute the total job cost for this particular film.Required 1Complete the question by entering your answers in the tabs given below.$ 1,422,000$ 2,469,000Required 2Direct materialsDirect laborOverhead appliedTotal job cost$ 8,230,000$ 4,938,000$ 0.14Compute the total job cost for this particular film. (Round your intermediate calculations to 2 decimal places.)$< Required 1Required 2 > Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such ascostumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include itemssuch as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies itsoverhead cost to films based on direct labor-dollars.At the beginning of the year, Yancey made the following estimates:Direct labor-dollars to support all productionsFixed overhead costVariable overhead cost per direct labor-dollarRequired:1. Compute the predetermined overhead rate.2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs:Direct materialsDirect labor cost.Compute the total job cost for this particular film.$ 1,422,000$ 2,469,000Required 1 Required 2Complete the question by entering your answers in the tabs given below.$ 8,230,000$ 4,938,000$ 0.14Predetermined overhead rateCompute the predetermined overhead rate. (Round your answer to 2 decimal places.)per DL$< Required 1Required 2 >

Name: Yancey Productions is a film studio that uses a job-order costing sys
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Description: Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such ascostumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs in

Total job cost is the combination of direct material cost, direct labor cost and overhead cost. The…

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Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost $ 1,422,000 $ 2,469,000 $ 8,230,000 $ 4,938,000 $ 0.14 Compute the total job cost for this particular film.

Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost $ 1,422,000 $ 2,469,000 $ 8,230,000 $ 4,938,000 $ 0.14 Compute the total job cost for this particular film.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter1: Introduction To Cost Accounting

Section: Chapter Questions

Problem 12E: Gerken Fabrication Inc. uses the job order cost system of accounting. The following information was...

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Geneva, Inc., makes two products, X and Y, that require allocation of indirect manufacturing costs. The following data were compiled by the accountants before making any allocations: The total cost of purchasing and receiving parts used in manufacturing is 60,000. The company uses a job-costing system with a single indirect cost rate. Under this system, allocated costs were 48,000 and 12,000 for X and Y, respectively. If an activity-based system is used, what would be the allocated costs for each product?
Yancey Productions is a film studio that uses a job-order costing system. The company’s direct materials consist of items such as costumes and props. Its direct labor includes each film’s actors, directors, and extras. The company’s overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions $ 8,370,000 Fixed overhead cost $ 5,022,000 Variable overhead cost per direct labor-dollar $ 0.07 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials $ 1,420,000 Direct labor cost $ 2,511,000 Compute the total job cost for this particular film.
Yancey Productions is a film studio that uses a job-order costing system. The company’s direct materials consist of items such as costumes and props. Its direct labor includes each film’s actors, directors, and extras. The company’s overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions $ 8,250,000 Fixed overhead cost $ 4,950,000 Variable overhead cost per direct labor-dollar $ 0.18 Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials $ 1,298,000 Direct labor cost $ 2,475,000 1. Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) 2. Compute…
Yancey Productions is a film studio that uses a job-order costing system. The company’s direct materials consist of items such as costumes and props. Its direct labor includes each film’s actors, directors, and extras. The company’s overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars.At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions . . . . . . $8,000,000Fixed overhead cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,800,000Variable overhead cost per direct labor-dollar . . . . . . $0.05 Required:1. Compute the predetermined overhead rate.2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,259,000Direct labor cost .…
Please help me compute the Overhead Applied Cost:Yancey Productions is a film studio that uses a job-order costing system. The company’s direct materials consist of items such as costumes and props. Its direct labor includes each film’s actors, directors, and extras. The company’s overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars.At the beginning of the year, Yancey made the following estimates:Direct labor-dollars to support all productions $ 8,260,000Fixed overhead cost $ 4,956,000Variable overhead cost per direct labor-dollar $ 0.17Required:1. Compute the predetermined overhead rate. (I found the answer: .77 per DL$)2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs:Direct materials $ 1,386,000Direct labor cost $ 2,478,000Compute the total job cost for this particular…
Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm’s direct labor includes salaries of consultants that work at the client’s job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 77,500 direct labor-hours would be required for the period’s estimated level of client service. The company also estimated $775,000 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm’s actual overhead cost for the year was $789,800 and its actual total direct labor was 83,350 hours. Required: 1. Compute the predetermined…
Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm’s direct labor includes salaries of consultants that work at the client’s job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 85,000 direct labor-hours would be required for the period’s estimated level of client service. The company also estimated $935,000 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm’s actual overhead cost for the year was $952,900 and its actual total direct labor was 89,050 hours. Required: 1. Compute the predetermined…
Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm’s direct labor includes salaries of consultants that work at the client’s job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 87,500 direct labor-hours would be required for the period’s estimated level of client service. The company also estimated $1,006,250 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm’s actual overhead cost for the year was $1,025,150 and its actual total direct labor was 92,400 hours. Required: 1. Compute the predetermined…
ech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm’s direct labor includes salaries of consultants that work at the client’s job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 67,500 direct labor-hours would be required for the period’s estimated level of client service. The company also estimated $540,000 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm’s actual overhead cost for the year was $557,400 and its actual total direct labor was 75,000 hours. 1. Compute the predetermined overhead rate. 2.…
Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm’s direct labor includes salaries of consultants that work at the client’s job site, and its overhead consists ofcosts such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients.Tech Solutions computes its predetermined overhead rate annually on the basis of direct laborhours. At the beginning of the year, it estimated that 80,000 direct labor-hours would be required for the period’s estimated level of client service. The company also estimated $680,000 of fixedoverhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm’s actual overhead cost for the year was $692,000 and its actual total direct labor was 83,000 hours.Required:1. Compute the predetermined overhead rate.2.…
how I can calculate and resolve this problem? Comans Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department’s predetermined overhead rate is based on machine-hours and the Customizing Department’s predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Milling Customizing Machine-hours 25,000 10,000 Direct labor-hours 15,000 4,000 Total fixed manufacturing overhead cost $132,500 $22,000 Variable manufacturing overhead per machine-hour $ 1.80 Variable manufacturing overhead per direct labor-hour $ 3.90 During the current month the company started and finished Job A319. The following data were recorded for this job: Job A319: Milling Customizing Machine-hours 70 20 Direct labor-hours 30 40 Direct materials…
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