17. Carolina Co. applies overhead to jobs at the rate of 40 percent of direct labor cost. Direct material of $1,250and direct labor of $1,400 were expended on Job #44 during June. At May 31, the balance of Job #44 was$2,800. The June 30th balance is$3,210.$5,450.d.a.b.$4,760.$6,010.Use the following information for questions 18-23.Adams Co. uses a job order costing system and the following information is available from its records. Thecompany has 3 jobs in process: #5, #8, and # 12.Raw material usedDirect labor per hour$120,000$8.50Overhead applied based on direct labor cost120%Direct material was requisitioned as follows for each job respectively: 30 percent, 25 percent, and 25 percent;the balance of the requisitions was considered indirect. Direct labor hours per job are 2,500; 3,100; and 4,200;respectively. Indirect labor is $33,000. Other actual overhead costs totaled $36,000.18. What is the prime cost of Job #5?$42,250а.b.$57,250C.$73,250d.$82,75019. What is the total amount of overhead applied to Job #8?b.a.$18,250$26,350C.$30,000d.$31,62020. What is the total amount of actual overhead?$69,000а.$36,000b.C.$93,000d.$9,96021. How much overhead is applied to Work in Process?b.$69,000$99,960$132,960d.$144,000a.C.22. If Job #12 is completed and transferred, what is the balance in Work in Process Inventory at the end of theperiod if overhead is applied at the end of the period?b.a.$96,700$99,020c.$170,720d.$139,540

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FINANCIAL ACCOUNTING

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Author:Libby

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Chapter1: Financial Statements And Business Decisions

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During March, Aragon Company worked on three jobs. Data relating to these three jobs follow: Job 78 Job 79 Job 80 Units in each order 200 180 220 Units sold 180 $ 990 Materials requisitioned Direct labor hours S1,560 $2,400 220 200 400 Direct labor cost S3,000 $3,000 S3,300 Overhead is assigned on the basis of direct labor hours at a rate of $8.40 per direct labor hour. During March, Jobs 78 and 79 were completed and transferred to Finished Goods Inventory. Job 79 was sold by the end of the month. Job 80 was the only unfinished job at the end of the month. Required: 1. Calculate the per-unit cost of Jobs 78 and 79. 2. Compute the ending balance in the work-in-process inventory account. 3. Prepare the journal entries reflecting the completion of Jobs 78 and 79 and the sale of Job 79. The selling price is 140 percent of cost.
1
Ab. 160.
Direct Labor Costs During August, Keenan Company accumulated 740 hours of direct labor costs on Job 40 and 570 hours on Job 42. The total direct labor was incurred at a rate of $20 per direct labor hour for Job 40 and $25 per direct labor hour for Job 42. Journalize the entry to record the flow of labor costs into production during August.
K company production was working on Job 1 and Job 2 during the month. Of the $790 in direct materials, $380 in materials was requested for Job 1. Direct labor cost, including payroll taxes, are $23 per hour, and employees worked 17 hours on Job 1 and 30 hours on Job 2. Overhead is applied at the rate of $20 per direct labor hours. Prepare job order cost sheets for each job. Job 1 Hours Total Cost Direct materials $fill in the blank 1 Direct labor fill in the blank 2 fill in the blank 3 Manufacturing overhead fill in the blank 4 fill in the blank 5 Total cost $fill in the blank 6 Job 2 Hours Total Cost Direct materials $fill in the blank 7 Direct labor fill in the blank 8 fill in the blank 9 Manufacturing overhead fill in the blank 10 fill in the blank 11 Total cost $fill in the blank 12
A company allocates its variable factory overhead based on direct labor hours. During the past three months, the actual direct labor hours and the total factory overhead allocated were as follows: October November DecemberDirect labor hours.................................. 2,500 3,000 5,000Total factory overhead allocated................. $80,000 $75,000 $100,000Based upon this information, the estimated variable cost per direct labor hour was: a. $0.125 b. $12.50 c. $0.80 d. $8.00
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Multiple choice
On June 1, beginning balance of Job 59 is $1,589. Ending balance of the job is $2,498. During the month, prime costs of $790 are added to the job. Direct materials are 4 times of direct labor. Suppose that overhead is applied based on direct labor cost, calculate the overhead rate. Answer Choices: a. 125% b. 75.32% c. 83.25% d. 79.49%
s1. The actual overhead cost incurred during the month was: s2. What is the total manufacturing cost recorded on Job 1536 for April?
During the month of July, Cambridge Company worked on three jobs. Data relating to these three jobs follow: Job 60 Job 61 Job 62 Quantity 300 150 200 Units sold - 180 - Materials requisitioned $1,460 $1990 $2,000 Direct labour hour 200 220 400 Direct labour cost $3,000 $3,000 $3,300 Overhead is assigned on the basis of direct labour hours at a rate of $6.40 per direct labour hour. During July, Jobs 60 and 61 were completed and transferred to the Finished Goods Inventory. Job 61 was sold by the end of the month. Job 62 was the only unfinished job at the end of the month. Required: 1) Calculate the per-unit cost of Jobs 60 & 61 2) Compute the ending balance in the work-in-process inventory account
Manufacturing overhead was estimated to be OMR 415,000 for the year along with estimated 20,000 direct labor hours. Actual manufacturing overhead was OMR 400,000, and actual labor hours were 21,000. The amount credited to the Manufacturing Overhead account would be: a. OMR 420,00O. O b. OMR 435,750. C. OMR 400,000. O d. None of the given answer is correct O e. OMR 415,000.

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17. Carolina Co. applies overhead to jobs at the rate of 40 percent of direct labor cost. Direct material of $1,250 and direct labor of $1,400 were expended on Job # 44 during June. At May 31, the balance of Job # 44 was $2,800. The June 30th balance is $3,210. d. a. b. $4,760. C. $5,450. $6,010.