Job 39 Job 40 Job 41 Job 42 Beginning balance Materials requisitioned Direct labor cost $23,700 18,900 10,000 $34,600 21,400 18,500 $17,000 8,350 3,000 $ 0 12,000 2,900
Q: Gerry's Electronics manufactures mouses for computers. In April, the two production departments had…
A: The budgeted overhead rate is based on budgeted overhead expenses and budgeted hours required for…
Q: the actual amount was $350,000. Actual production for July was 25,000 units, and actual…
A:
Q: Greedy Co. uses a predetermined factory overhead rate based on direct labor hours. For the month of…
A: Overheads are the indirect costs related to production or manufacturing of goods. These costs can…
Q: James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company…
A: Overhead: Overhead refers to the costs, which are utilized in business activities, however cannot be…
Q: Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year…
A: Overhead rate=Budgeted overhead/Budgeted direct labor cost Work in process relates to inventory…
Q: Vin Diesel Company uses a standard costing system in which it applies manufacturing overhead to…
A: Total budgeted fixed factory overhead = Total applied factory overhead - Total Variable factory…
Q: The Lopez Company uses standard costing in its manufacturing plant for auto parts. , the budgeted…
A: Since you have asked multiple questions we will solve the first 3 question for you,If you want any…
Q: World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At…
A: Overheads Volume Variance = Applied Fixed Overhead - Budgeted Fixed Overhead Overhead Controllable…
Q: Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year…
A: Job costing refer to the costing approach which is being used to determine the expense of specific…
Q: The total factory overhead for Bardot Marine Company is budgeted for the year at $907,550, divided…
A: ACTIVITY RATES : FORMULA : Overhead Cost / Activity Base Usage Quantities ACTIVITY WORKING…
Q: Metal Company budgeted $556,000 manufacturing direct wages, 2,500 direct labor hours, and had the…
A: Formula used: Activity rate per hour = Total Machine set up / Number of setup
Q: The total factory overhead for Big Light Company is budgeted for the year at $1,610,700. Big Light…
A: Solution a: Total nos of budgeted direct labor hours = (14900*2) + (17600*3) = 29800 +52800 = 82600…
Q: Blaze Corp. applies overhead on the basis of direct labor hours. For the month of March, the company…
A: Solution 1: Controllable variance Particulars Amount Total actual overhead $81,700.00…
Q: James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company…
A: In the given question we are given three sub parts related to variance calculation and we need to…
Q: Over and Under, Inc. manufactures weaving looms. Before the period began, the company prepared the…
A: Computation of overhead cost - direct labour Variable manufacturing overhead cos / direct labour…
Q: Carla Company’s standard fixed overhead rate is based on budgeted fixed manufacturing overhead of…
A: Fixed Overhead:-These are those cost which does not change for a long period of time even if volume…
Q: Required:
A: Overhead rate can be defined as the per unit rate allocated for the expenses being incurred for the…
Q: Dubberly Corporation's cost formula for its manufacturing overhead is $30,800 per month plus $62 per…
A: The activity variance for manufacturing overhead is calculated as difference between flexible budget…
Q: Fast Company has established the following overhead cost pools and cost drivers for the month of…
A: Activity-based costing (ABC): It is a costing method in which overhead and indirect costs are…
Q: Dubberly Corporation's cost formula for its manufacturing overhead is $32,400 per month plus $54 per…
A: Formulas; Budgeted Manufacturing Overhead = Manufacturing overhead + (Rate per Machine hours x…
Q: The standard cost sheet for Chambers Company, which manufactures one product, follows:…
A: Variances will be considered favorable if actual performance is better or meets standards and…
Q: Avery Company uses a predetermined overhead rate based on direct labor hours. For the month of…
A: Overheads: These are defined as the ongoing expenses that are incurred centrally in relation to a…
Q: [The following information applies to the questions displayed below.) Antuan Company set the…
A: Antuan company…
Q: The total factory overhead for Bardot Marine Company is budgeted for the year at $937,950, divided…
A: The following calculations are shown to evaluate the activity-based rates of Bardot Marine Company.
Q: World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At…
A:
Q: Lemon Company manufactures a single product. The company manufactured 5,000 units in March, using…
A: GIVEN Lemon Company manufactures a single product. The company manufactured 5,000 units in…
Q: Wadding Corporation applies manufacturing overhead to products on the basis of standard…
A: Total budgeted variable overhead costs = supplies + indirect labor = $12880+49000 = $61,880 Stnadrad…
Q: Avery Company uses a predetermined overhead rate based on direct labor hours. For the month of…
A: The predetermined overhead rate is computed based on budgeted overhead cost for the budgeted level…
Q: Metal Company budgeted $568,000 manufacturing direct wages, 3,000 direct labor hours, and had the…
A: Formula: Overhead rate per hour = Overhead Cost / Budgeted overhead cost
Q: The following data pertains to the month of October for Elm. Co. when production was budgeted to be…
A: Variance: The amount obtained when actual costs is deducted from budgeted cost is known as…
Q: The following data pertains to the month of October for Elm. Co. when production was budgeted to be…
A: Direct material quantity variance is calculated by taking the difference between actual quantity at…
Q: The following data pertains to the month of October for ElmCo. when production was budgeted to be…
A: Variable overhead spending variance is the difference between actual variable overhead assigned and…
Q: Craftmore Machining reports the following budgeted overhead cost and related data for this year.…
A: Overhead Rate: A cost that is allotted to the manufacturing of a product or service is referred to…
Q: Cherokee Company applies factory overhead on the basis of direct labor hours. Budget and actual data…
A: Standard costing means where standard is set for various cost element and actual cost is then…
Q: In October, Pine Company reports 20,600 actual direct labor hours, and it incurs $257,000 of…
A: overhead volume variance = Standard hours - normal hours) × fixed overhead rate
Q: Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: 6,000 units. During May, Cheshire produced 5,500 units. The budgeted fixed overhead is $60,000 and…
A: (3600 hours /6000 units )*5500 units = 3300 Direct labour hours Budgeted Fixed overhead is $60,000…
Q: The following data pertains to the month of October for ElmCo. when production was budgeted to be…
A: Direct Material Quantity Variance It's the variance which occurs due to the change in the quantity…
Q: World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At…
A: Fixed overhead per labor hour=$50,00025,000=$2
Q: Metal Company budgeted $565,000 manufacturing direct wages, 2,500 direct labor hours, and had the…
A: Formula: Total Activity Costs = Activity Base x Activity Rate Activity Cost per Unit = Activity…
Q: Merone Corporation applies manufacturing overhead to products on the basis of standard…
A: The fixed overhead volume variance is the difference between the amount of fixed overhead actually…
Q: Vin Diesel Company uses a standard costing system in which it applies manufacturing overhead to…
A: Total budgeted fixed factory overhead = Total applied factory overhead - Total Variable factory…
Q: Cholla Company’s standard fixed overhead rate is based on budgeted fixed manufacturing overhead of…
A: Variance analysis shows the analysis of the difference between actual and budgeted overheads in the…
Q: Gerry's Electronics manufactures mouses for computers. In April, the two próduction departments had…
A: ANSWER (17). (a). P4.60 (18). (d). P10.00 (19). (c). P64,600
Q: The following data pertains to the month of October for Elm. Co. when production was budgeted to be…
A: Direct material variances: The difference between the actual material cost per unit and the…
Q: The total factory overhead for Landen Company is budgeted for the year at $675,000. Landen…
A: Introduction: An overhead rate is applied to direct production costs in order to disperse or…
Q: At the beginning of the year, Smith Company budgeted overhead of $129,600 as well as 13,500direct…
A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…
Q: Buckingham Star Company Ltd has a single production process for which the following have been…
A: The question is related to Traditional Absorption Costing and Activity Based Costing. The details of…
Q: The total factory overhead for Landen Company is budgeted for the year at $675,000. Landen…
A: Introduction: An overhead rate applies to direct costs associated with production in order to spread…
Naranjo Company designs industrial prototypes for outside companies.
Budgeted overhead for the year was $260,000, and budgeted direct labor
hours were 20,000. The average wage rate for direct labor is expected to
be $25 per hour. During June, Naranjo Company worked on four jobs.
Data relating to these four jobs follow:
Overhead is assigned as a percentage of direct labor cost. During June,
Jobs 39 and 40 were completed; Job 39 was sold at 130 percent of cost.
(Naranjo had originally developed Job 40 to order for a customer;
however, that customer was near bankruptcy and the chance of Naranjo
being paid was growing dimmer. Naranjo decided to hold Job 40 in
inventory while the customer worked out its financial difficulties. Job 40
is the only job in Finished Goods Inventory.) Jobs 41 and 42 remain
unfinished at the end of the month.
Required:
1. Calculate the overhead rate based on direct labor cost.
2. Set up a simple
June
3. What if the expected direct labor rate at the beginning of the
year was $20 instead of $25? What would the overhead rate be?
How would the cost of the jobs be affected?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Sheridan Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2022. Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,600, direct labor $14,160, and manufacturing overhead $18,880. As of January 1, Job 49 had been completed at a cost of $106,200 and was part of finished goods inventory. There was a $17,700 balance in the Raw Materials Inventory account. During the month of January, Sheridan Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold during the month. The following additional events occurred during the month. 1. 2 3. 4, Purchased additional raw materials of $106,200 on account. Incurred factory labor costs of $82,600. Incurred manufacturing overhead costs as follows: indirect materials $20,060; indirect labor $23,600; depreciation expense on equipment $14,160; and various other manufacturing…2nl phary sutcln I0.19 Aceoutivg Total Problem 6 A factory uses a job costing system. The following data ar vailable from the books pertaining to job No. A-5: Materials (direct): 14.60 Kg@ Tk. 2.50 Kg. Wages (direct): Department X 18 hours @ Tk.. 3.50 per hour Department Y 32 hours aTk. 3.00 per hour Budget overhead for the year based on normal capacity is as follows Variable overhead: Department X Tk. 5.400 for 9.000 direct labor hours Department Y Tk. 8.000 for 10.000 direct labor hours Fixed overhead: Total budget direct labor hours for whole factory 22,000 Total budget expenditure Tk. 16.500 Required: (i) Compute the factory overhead rate. (ii) Calculate the total cost of job No. A-5 (iii) Estimate the percentage of profit obtained if the price quoted to the eustomer is Tk. 350 (iv) Suppose the actual fixed overhead costs and direct labor hours used in the factory are Tk. 19.000 and 24.000 hours respectively. then what would be the amount of under applied or over applied?Operating Department Service Department A B 1 2 Total Overhead costs £100,000 £93,100 £62,100 £237,200 £257,400 £749,800 855 Number of employees Square feet of space occupied Hours of press time 55 40 160 360 240 7,500 38,000 30,000 172,400 90,000 12,900 19,000 95,000 60,000 The company allocates service department costs by the direct method in the following order: A (number of employees), B (space occupied), and C (hours of press time). The company makes no distinction between variable and fixed service department costs. Required: How much overhead cost would be allocated to each operating department? (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.) Service Departments Operating Departments 2 Total Overhead costs Allocation: Department A: Department B: Department C: Total overhead costs after allocations
- esc ** 39 US W S Question 8 of 15 View Policies Current Attempt in Progress 3 E Direct labor hours Boswell Company manufactures two products, Regular and Supreme. Boswell's overhead costs consist of machining, $5000000; and assembling, $2200000. Information on the two products is: Machine hours Number of parts O $2042000. O $2880000. O $5158000. O $4320000. Save for Later 335 266 144 R ***4 Overhead applied to Supreme using activity-based costing is ** VENIR % PRO 5 PI T A G Regular Supreme 10000 10000 90000 se detach and ret 19 6 YOUR NEW SUMM Y 15000 I 30000 & 160000 J * ** 8 60 #@# *** K 6 (hp) MAKASS O -- ww CLARKSTON, CA 2003 huddledhil 24803 WONYNGENDIT PO BOX 245 MOBILE, AL 3661-241 P 3 412 [ + Attempts: 0 of 1 used Submit Answer prt sc [ -/1 backspace enter ** scr ik ***AD #2 Insert *********** *** ** delete pause *** ← home : 2.4 *** end ********** ***66FS **** **** ********* **** ********** ***** clear *** 6** 2 Days **** up Bd dajezi $35.40Current Attempt in Progress Job 400 Job 401 Job 402 Direct Materials $200 $21/hour O $10/hour O $16/hour O $18/hour 250 500 Direct Labour Cost $800 200 600 Direct Labour Hours 40 10 32 Sparkle Company uses job costing and applies overhead using an actual costing system using direct labour hours as the allocation base. This period's estimated overhead cost is $400,000, estimated direct labour cost is $500,000 and estimated direct labour hours are 25,000. This period's actual overhead cost was $420,000, actual direct labour cost was $390,000, and actual direct labour hours were 20,000. What is the overhead allocation rate?✔ 37 8 00:39:04 Mc Graw Hill a 72 2 Use the following data to compute total factory overhead costs for the month: Sales commissions Direct labor Indirect materials Factory utilities Indirect labor Direct materials Corporate office salaries Depreciation-factory equipment # 3 Multiple Choice O $139,600. $128,300. $47,200. $ 10 4 15- % 5 6 $ 11,300 40,100 15,700 9,500 & 14,000 41,000 43,000 8,000 D
- The total manufacturing costs associated with Job 4567 should be? a. ₱ 800,000 b. ₱ 1,440,000 c. ₱ 1,080,000 d. ₱ 1,560,000 e. ₱ 1,920,000 f. ₱ 1,560,000Details Product J Product G Product P Total Direct $25 $20 $11 $12,38,000 Material Cost Direct Labor 4/3 1 88,000 Hours Machine 4/3 1 76,000 Hours Direct Labor $8 $12 $6 Cost No. of 3 7 20 30 production run No. of 3 20 32 Deliveries No. of 15 35 220 270 Receipts (2*7) No. of 15 10 25 50 production orders Production 30,000 20,000 8,000 and sales units Raw material 11 usage units The total overhead costs is $18,48,000. Set-up 1.623377%, Machines 41.125541%, Receiving 23.538961%, Packing 13.528139% and Engineering 20.183983% of total overhead costs. The company operates a just-in-time inventory policy, and receives each component once per production per run. In the past the company has allocated overheads to products on the basis of direct labor hours. However, the majority of overheads are more closely related to machine hours than direct labor hours. The company has recently redesigned its cost system by recovering overheads using two volume-related bases: machine hours and materials…Inventories: March 1 March 31Raw material P18,000 P15,000Work in process 9,000 6,000Finished goods 27,000 36,000Additional information for March:Raw material purchased P42,000Direct labor payroll 30,000Direct labor rate per hour 7.50Overhead rate per direct labor hour 10.00 Required a. prime cost incurred b.conversion cost incurred c. Cost of Goods Manufactured
- Direct labor 17 per unit 11 per unit 2$ Direct materials 24 Overhead Total variable overhead Total fixed overhead Expected units to be produced $ 30,000 $100, e00 50,e00 units Product cost per unit under absorption costingcussions Question 6 -/1 ferences View Policies laborations Current Attempt in Progress ileyPLUS Support Cherryville Company charges $61 per hour for labor and has a 42% material loading charge. A recent job required 20 hours and $2,000 of materials. Calculate the total cost of the job. HL Central ffice 365 Badges O $4,060 O $4,572.40 Piazza O $3,220 O $2,840 8:43 PM ) 11/18/2019 hp ho 1 ins prt sc delete home end K4 backspace lock P 7 home K 4 enterExercise 12-8A (Algo) Allocating costs among products LO 12-3 Rundle Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows. Expected Costs Direct labor Direct materials Home 1 $ 75,000 91,000 Home 2 $ 106,000 139,000 Home 3 $ 172,000 195,000 Assume Rundle needs to allocate two major overhead costs ($35,300 of employee fringe benefits and $21,250 of indirect materials costs) among the three jobs. Required Choose an appropriate cost driver for each of the overhead costs and determine the total cost of each house. Note: Round "Allocation rate" to 2 decimal places. Fringe Benefits: Home Allocation Rate × Weight of Base = Allocated Cost 1 = 2 x = 3 x = Total Indirect Materials: Home Allocation Rate × Weight of Base = Allocated Cost 1 x = 2 × = 3 x Total The cost components to determine the total cost of each house: Expected Costs Direct labor Direct materials Fringe benefits Indirect materials…