Please do not give solution in image format thanku Compute Mr. Wilkes' total job cost.3. If Speedy establishes its selling prices using a markup percentage of 60% of its total job cost, then how much would it have chargedMr. Wilkes?Complete the question by entering your answers in the tabs given below.Required 1Required 2Required 3Compute the predetermined overhead rate. (Round your answer to 2 decimal places.)Predetermined overhead rateper DLHCompute Mr. Wilkes' total job cost.3. If Speedy establishes its selling prices using a markup percentage of 60% of its total job cost, then how much would it have chargedMr. Wilkes?Complete the question by entering your answers in the tabs given below.Required 1 Required 2 Required 3Overhead appliedTotal cost assigned to Mr. WilkesCompute Mr. Wilkes' total job cost. (Round your intermediate calculations to 2 decimal places.)Direct materialsDirect laborRequired 2 >< Required 1Required 1 Required 2 Required 3Complete the question by entering your answers in the tabs given below.Required 3 >(Required 2If Speedy establishes its selling prices using a markup percentage of 60% of its total job cost, then how much would it havecharged Mr. Wilkes? (Round your intermediate calculations to 2 decimal places.)Amount charged to Mr. Wilkes Problem 2-18 (Algo) Job-Order Costing for a Service Company [LO2-1, LO2-2, LO2-3]4Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed incustomer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, suchas the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for thewaiting room.The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the followingestimates:Direct labor-hours required to support estimated outputVariable overhead cost per direct labor-hour50,000$ 925,000$1.00Required:1. Compute the predetermined overhead rate.2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information wasavailable with respect to his job:Direct materialsDirect labor costDirect labor-hours usedCompute Mr. Wilkes' total job cost.3. If Speedy establishes its selling prices using a markup percentage of 60% of its total job cost, then how much would it have chargedMr. Wilkes?$ 2546

PREDETERMINED OVERHEAD RATEPredetermined rate means the indirect cost rate.Predetermined overhead…

4 Problem 2-18 (Algo) Job-Order Costing for a Service Company [LO2-1, LO2-2, LO2-3] Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement pa customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and ref waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it estimates: Direct labor-hours required to support estimated output Fixed overhead cost Variable overhead cost per direct labor-hour 50,000 $ 925,000 $1.00 Required: 1. Compute the predetermined overhead rate. 2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following infe available with respect to his job:

4 Problem 2-18 (Algo) Job-Order Costing for a Service Company [LO2-1, LO2-2, LO2-3] Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement pa customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and ref waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it estimates: Direct labor-hours required to support estimated output Fixed overhead cost Variable overhead cost per direct labor-hour 50,000 $ 925,000 $1.00 Required: 1. Compute the predetermined overhead rate. 2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following infe available with respect to his job:

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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