(a) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? Direct materials Direct labor Manufacturing overhead Source Documents (b) What is the predetermined manufacturing overhead rate? (Round answer to 0 decimal places, e.g 135.) Predetermined manufacturing overhead rate (c) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.) Total cost of the completed job $ % Unit cost of the completed job $

(a) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? Direct materials Direct labor Manufacturing overhead Source Documents (b) What is the predetermined manufacturing overhead rate? (Round answer to 0 decimal places, e.g 135.) Predetermined manufacturing overhead rate (c) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.) Total cost of the completed job $ % Unit cost of the completed 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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Multiple predetermined overhead rates: calculated for each department by dividing total estimated manufacturing overhead cost by total actual units of the allocation base. O a. O b. makes job-order costing less accurate accounting for costs. O c. none of the given answers is correct. O d. are based on actual total manufacturing overhead costs are calculated at the beginning of the accounting perioc before the actual amount of manufacturing overhead is known. O e.
How do I calculate manufacturing overhead based on direct labor hours
23. Using the activity-based costing method of applying manufacturing overhead, the amount of overhead applied to Job #414 would be: A) $29,600 B) $17,412 C) $34,824 $59,200 E) $36,000 24. Using the POHR based on direct labor hours, the amount of overhead costs applied to Job#414 would be: A) $36,000 B) $34,824 $17,412 D) $29,600 E) $59,200
Manufacturing cost data for Wildhorse 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 labor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) Work in process 1/1/22 Direct materials used Direct labor Manufacturing overhead applied Total manufacturing costs Total cost of work in process Work in process 12/31/22 Cost of goods manufactured $ Case A 61,000 50,020 177,693 245,830 234,606 (a) (b) (c) Case B $18,910 $101,260 170,800 14,396 (d) (e) (f) (g)
for 11; 12; 13; and 15 11. Using the plantwide overhead rate, what percentage of the total overhead cost is allocated to Product Y and Product Z? Note: Round intermediate calculations to 2 decimal places. Round your "Percentage" answers to 2 decimal place. 12. Using the ABC system, what percentage of the Machining costs is assigned to Product Y and Product Z? Note: Round intermediate calculations and your "Percentage" answers to 2 decimal places. 13. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z? Note: Round intermediate calculations to 2 decimal places. Round your "Percentage" answers to 2 decimal places. 15. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product Z? Note: Round intermediate calculations to 2 decimal places. Round your "Percentage" answers to 2 decimal place.
Manufacturing cost data for Crane 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 la and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) Work in process 1/1/22 Direct materials used Direct labor Manufacturing overhead applied Total manufacturing costs Total cost of work in process Work in process 12/31/22 Cost of goods manufactured Case A 38750 60000 (b) 52,000 43,680 151,476 209,560 (a) 199,992 (c) Case B $16,120 $86,320 145,600 231500 (e) (d) 369970 (f) 12,272 357770 (g)