MANAGERIAL ACCOUNTING W/CONNECT
15th Edition
ISBN: 9781259732454
Author: Garrison
Publisher: MCGRAW-HILL CUSTOM PUBLISHING
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Textbook Question
Chapter 3, Problem 21P
EXERCISE 2−14 Job-Orders Costing for a Service Company LO2−1, LO2−2, LO2−3
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,
At the beginning of the ear, Yancey made the following estimates:
Direct labor-dollars to support all productions | $8,000,000 |
Fixed overhead cost | $4,800,000 |
Variable overhead cost per direct labor-dollar | $0.05 |
Required:
- Compute the predetermined overhead rate.
- During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs:
Direct materials | $1,259,000 |
Direct labor cost | $2,400,000 |
Compute the total
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Exercise 2-14 (Algo) Job-Order Costing for a Service Company [LO2-1, LO2-2, LO2-3]
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.
Compute the total job cost for this particular film.
Required 1
Complete the question by…
Job Order Cost Accounting for a Service Company
I ONLY NEED PART D
The Fly Company provides advertising services for clients across the nation. The Fly Company is presently working on four projects, each for a different client. The Fly Company accumulates costs for each account (client) on the basis of both direct costs and allocated indirect costs. The direct costs include the charged time of professional personnel and media purchases (air time and ad space). Overhead is allocated to each project as a percentage of media purchases. The predetermined overhead rate is 60% of media purchases.
On August 1, the four advertising projects had the following accumulated costs:
August 1 Balances
Vault Bank
$72,500
Take Off Airlines
21,800
Sleepy Tired Hotels
50,800
Tastee Beverages
31,200
Total
$176,300
During August, The Fly Company incurred the following direct labor and media purchase costs related to preparing advertising for each of the four accounts:…
Pratice Problem 3
A company's individual job sheets show these costs for Jobs 298, 299, and
300. Direct material is RO 2,228, RO 23,945, and RO 4,231 respectively.
Direct labor is RO 2,391, RO 23,492, and RO 3,413, respectively.
Overhead is applied at 1.75 times the direct labor cost. Use the data on the
cost sheets to perform these tasks:
You are required to :
Prepare an entry to record the assignment of direct material to work in
process.
Prepare an entry to record the assignment of direct labor to work in process.
Prepare an entry to record the assignment of manufacturing overhead to work
in process.
●
Chapter 3 Solutions
MANAGERIAL ACCOUNTING W/CONNECT
Ch. 3.A - Prob. 1ECh. 3.A - Prob. 2ECh. 3.A - Prob. 3ECh. 3.A - PROBLEM 3A-4 Activity-Based Absorption Costing as...Ch. 3.A - Prob. 5PCh. 3.A - CASE 3A-6 Activity-Based Absorption Costing and...Ch. 3.B - Prob. 1ECh. 3.B - Prob. 2ECh. 3.B - Prob. 3PCh. 3.B - Prob. 4C
Ch. 3 - Prob. 1QCh. 3 - Prob. 2QCh. 3 - Prob. 3QCh. 3 - Prob. 4QCh. 3 - Prob. 5QCh. 3 - Prob. 6QCh. 3 - Prob. 7QCh. 3 - Prob. 8QCh. 3 - 3-9 What is underapplied overhead? Overapplied...Ch. 3 - Prob. 10QCh. 3 - Prob. 11QCh. 3 - Prob. 12QCh. 3 - Prob. 13QCh. 3 - This Excel worksheet relates to the Dickson...Ch. 3 - This Excel worksheet relates to the Dickson...Ch. 3 - Prob. 3AECh. 3 - This Excel worksheet relates to the Dickson...Ch. 3 - Prob. 1F15Ch. 3 - Prob. 2F15Ch. 3 - Prob. 3F15Ch. 3 - Prob. 4F15Ch. 3 - Prob. 5F15Ch. 3 - Prob. 6F15Ch. 3 - Prob. 7F15Ch. 3 - Prob. 8F15Ch. 3 - Prob. 9F15Ch. 3 - Prob. 10F15Ch. 3 - Prob. 11F15Ch. 3 - Prob. 12F15Ch. 3 - Prob. 13F15Ch. 3 - Prob. 14F15Ch. 3 - Prob. 15F15Ch. 3 - Prob. 1ECh. 3 - Prob. 2ECh. 3 - Prob. 3ECh. 3 - EXERCISE 24 Computing Total Job Costs and Unit...Ch. 3 - EXERCISE 2-5 Computing Total Job Costs and Unit...Ch. 3 - Prob. 6ECh. 3 - EXERCISE 2-7 Job-Order Costing; Working Backwards...Ch. 3 - Prob. 8ECh. 3 - EXERCISE 3-9 Journal Entries and T-accounts...Ch. 3 - Prob. 10ECh. 3 - Prob. 11ECh. 3 - Prob. 12ECh. 3 - Prob. 13ECh. 3 - Prob. 14ECh. 3 - Prob. 15ECh. 3 - Prob. 16ECh. 3 - Prob. 17ECh. 3 - Prob. 18ECh. 3 - Prob. 19ECh. 3 - EXERCISE 2—13 Departmental Predetermined Overhead...Ch. 3 - EXERCISE 214 Job-Orders Costing for a Service...Ch. 3 - Prob. 22PCh. 3 - PROBLEM 2—16 Plantwide Predetermined Overhead...Ch. 3 - Prob. 24PCh. 3 - Prob. 25PCh. 3 - Prob. 26PCh. 3 - Prob. 27PCh. 3 - PROBLEM 2-21 Plant wide Versus Multiple...Ch. 3 - CASE 2-22 Plantwide versus Departmental Overhead...Ch. 3 - Prob. 30C
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