Exercise 2-3 (Algo) Computing Total Job Costs andUnit Product Costs Using a PlantwidePredetermined Overhead Rate [LO2-3]Mickley Company's plantwide predetermined overhead rate is$23.00 per direct labor-hour and its direct labor wage rate is$12.00 per hour. The following information pertains to Job A-500:Direct materialsDirect labor$ 280$ 180Required:1. What is the total manufacturing cost assigned to Job A-500?2. If Job A-500 consists of 40 units, what is the unit product cost forthis job? (Round your answer to 2 decimal places.)1. Total manufacturing cost2. Unit product costper unit

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Description: Exercise 2-3 (Algo) Computing Total Job Costs andUnit Product Costs Using a PlantwidePredetermined Overhead Rate [LO2-3]Mickley Company's plantwide predetermined overhead rate is$23.00 per direct labor-hour and its direct labor wage rate is$12.00 pe

Manufacturing cost refers means the total cost incurred by a company in the production of goods or…

Answered: 1. What is the total manufacturing cost…

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Accounting

1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 40 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Job number S-1000 had the following data: Direct Labor hours used: Direct Materials used: Hourly wage rate: 32 $750 $45/hr. Overhead allocation rate: $15/direct labor hr. Assuming this was the only job completed this month, what was the total cost of Job S-1000?
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Required information The Foundational 15 (Algo) [LO2-1, LO2-2, LO2-3, LO2-4] [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $29,800 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.90 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates:…
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