A job cost sheet of Oriole Company is given below.JOB NO.ITEMFORDate7/101215(a)22242731Total costUnit cost469White Lion CagesTodd CompanyDirectMaterialsCost of completed job:Direct materialsDirect laborManufacturing overheadDirect materialsDirect labor7009001,6401,560Job Cost SheetManufacturing overheadDate RequestedDate Completed.QuantityDirectLaborTotal cost of the completed job $Unit cost of the completed job400300Answer the following questions.(1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job?$700Predetermined manufacturing overhead rate2,0007/27/31ManufacturingOverheadSource Documents480(2) Overhead is applied on the basis of direct labor cost. What is the predetermined manufacturing overhead rate?360840(3) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.)%

Name: A job cost sheet of Oriole Company is given below.JOB NO.ITEMFORDate7
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: A job cost sheet of Oriole Company is given below.JOB NO.ITEMFORDate7/101215(a)22242731Total costUnit cost469White Lion CagesTodd CompanyDirectMaterialsCost of completed job:Direct materialsDirect laborManufacturing overheadDirect materialsDirect la

Job costing Accounting technique that tracks the costs of materials, labor, and overhead for a…

Business

Accounting

A job cost sheet of Oriole Company is given below. JOB NO. ITEM FOR Date 7/10 12 15 22 (a) 24 27 31 Direct labor Unit cost 469 White Lion Cages Todd Company Direct Materials Cost of completed job: Direct materials 700 Manufacturing overhead Total cost 900 1,640 1,560 Direct materials Direct labor Answer the following questions. Job Cost Sheet Manufacturing overhead Date Requested Date Completed. Quantity Direct Labor Total cost of the completed job $ Unit cost of the completed job 400 300 (1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? $ 700 Predetermined manufacturing overhead rate 2.000 7/2 7/31 Manufacturing Overhead Source Documents 480 (2) Overhead is applied on the basis of direct labor cost. What is the predetermined manufacturing overhead rate? 360 840 (3) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.) %

A job cost sheet of Oriole Company is given below. JOB NO. ITEM FOR Date 7/10 12 15 22 (a) 24 27 31 Direct labor Unit cost 469 White Lion Cages Todd Company Direct Materials Cost of completed job: Direct materials 700 Manufacturing overhead Total cost 900 1,640 1,560 Direct materials Direct labor Answer the following questions. Job Cost Sheet Manufacturing overhead Date Requested Date Completed. Quantity Direct Labor Total cost of the completed job $ Unit cost of the completed job 400 300 (1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? $ 700 Predetermined manufacturing overhead rate 2.000 7/2 7/31 Manufacturing Overhead Source Documents 480 (2) Overhead is applied on the basis of direct labor cost. What is the predetermined manufacturing overhead rate? 360 840 (3) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.) %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The journal entry to record the Labor Time Tickets includes a debit to the Manufacturing Overhead account of what dollar amount? Materials Labor Requisition Time For Slips Tickets Job No. 429 $ 3,500 $ 4,400 Job No. 430 2,600 3,400 Job No. 431 3,400 4,200 Job No. 432 3,000 4,000 Sub-Total 12,500 16,000 General Use 1,000 1,500 Total Cost $ 13,500 17,500 $17,500 $1,500 $16,000 $13,500
Cost sheet for Savvay Co is shown below. Job No. 223 For 2,500 Units Date Direct Materials Direct Labor Manufacturing Overhead Beg. bal. Jan. 1 3925 6000 4200 8 6000 12 8500 6375 25 2000 27 4000 3000 Total 11925 18500 13575 Cost of Completed Job Direct Materials 11925 Direct Labor 18500 Manufacturing Overhead 13575 Total Cost 44000 Unit Cost 17,60 Instructions(a) Answer the following questions.(1) What was the balance in Work in Process…
Manufacturing cost data for Cullumber Company, which uses a job - order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labour cost and the rate is the same.
The Prancing Pony utilizes a job-order costing system for accumulating their product costs. They had the following jobs during the month: Job A Job B Job C Job D Beginning balance 67,700 77,200 23,000 55,100 Direct materials used 92,800 67,000 60,500 75,900 Direct labor 47,400 80,300 81,100 83,900 Applied manufacturing overhead 97,000 10,300 14,900 81,500 Job A was unfinished at the end of the period. Job B and D were finished, and subsequently sold. Job C was finished, but had not yet been sold at the end of the period. The time ticket record revealed that Employee Underhill worked on Job A, while Employee Baggins worked on Job B, C, and D. Each job represents a small batch of 400 units. As the manager for The Prancing Pony, you previously set and communicated with employees that in order to meet budgetary goals, each unit should require no more than $150 of direct labor and $200 of direct materials. Using the information provided, what is the reported cost…
Provide solution
Please provide Answer with Explanation
Prepare the journal entry for (a) materials and (b) labor, based on the following: Raw materials issued: $850 for Job 609 $300 for general use in the factory Labor time tickets: $900 for Job 609 $325 for supervision
A job cost sheet of Wildhorse Company is given below. Job Cost Sheet JORNO White Lion C Date Requested 42 FOR Told Company Date Completed Date Direct Materials Direct Manufacturing Labor Overhead 7/10 200 600 730 400 480 1700 1520 31 500 600 Cost of completed job Direct materials Direct labor Manufacturing overhead Total cost Unit cost (a) Your answer is correct Answer the following questiona. (1) What are the source documents for direct maten als direct labor, and manufacturing overhead costs assigned to this job? Source Documents Direct material Direct labar Manufacturing (2) Overhead is applied on the basis of direct tabar cost. What is the predetermined manufacturing overhead rate! termined manufacturing overhead cate 120 31 What are the total cost and the unit cost of the completed job Round unitat o 2 decimal places, eg 125 Total cost of the completed job 120 Unit cost of the completed job S 14006 Textbook and Media List of Accounts Prepare the salty to record the soniction…
Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $1,233,000 900,000 79,900 222,200 40,300 31,100 24,700 106,000 13,600 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $20.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour $2,650,800
Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $953,500 696,000 31,700 88,000 16,000 12,200 Advertising expense 19,100 Administrative office salaries 82,000 Administrative office depreciation expense 10,500 Total costs and expenses $1,909,000 The average shop direct labor rate is $24.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. $ per direct labor hour
Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $1,287,800 940,000 50,300 139,800 25,400 19,500 25,800 110,800 14,200 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $20.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour $2,613,600
Pls Answer