ΣFLHarootunian Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for thcurrent year on the following data:Total machine-hours000 08Total fixed manufacturing overhead costVariable manufacturing overhead per machine-000202.10Recently, Job T629 was completed with the following characteristics:Number of units in the jobTotal machine-hours000The predetermined overhead rate is closest to:Muluple Cholce$8.10 per machine-hour$210 per machine-hour$3.90 per machine-hour< Prev4 of 3657°F Mostly sunnype here to searchF11F12PrtScrInsertDeleteF7F8F5FE3K4Backspace共%24{R.EH.B.NAltCtrl->www

Overhead means the cost incurred indirect in factory for the production of goods. Predetermined…

Answered: Σ FL Harootunian Corporation uses a…

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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XYZ has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Forming Finishing Machine-hours 18,000 14,000 Direct labor-hours 2,000 8,000 Total fixed manufacturing overhead cost OMR 99,000 OMR 70,400 Variable manufacturing overhead per machine-hour OMR 2.10 Variable manufacturing overhead per direct labor-hour OMR 3.90 During the current month the company started and finished Job PS5. The following data were recorded for this job: Job PS5: Forming Finishing Machine-hours 90 20 Direct labor-hours 30 60 Direct materials OMR 940 OMR 350 Direct labor cost OMR 960 OMR 1920 The total job cost for Job PS5 is closest to: a. None…
MNO Corporation uses a job-order costing system with a predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total estimated direct labor-hours 50,000 Total estimated fixed manufacturing $285,000 overhead cost Estimated variable manufacturing overhead per direct labor-hour 3.80 $ Recently, Job P123 was completed with the following characteristics: Total actual direct labor-hours 20 $ 710 $ 500 Direct materials Direct labor cost The total job cost for Job P123 is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $1,210 $1,400 $690 $900
Harootunlan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T629 was completed with the following characteristics: Number of units in the job Total machine-hours The amount of overhead applied to Job T629 is closest to: Multiple Choice $1,620 $780 O $1,200 50 200 O $420 80,000 $ 312,000 $ 2.10 K
Muscat Sayarati Co. uses a job-order costing system with a single plantwide predetermined overhead rate based on labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $525,000, variable manufacturing overhead of $6.00 per labor-hour, and 35,000 labor-hours. The job sheet of Job G828 shows that the number of units in this job order is 45 units which incurred total of 90 labor-hours. This job consumed $14/unit of direct materials cost and $64/unit of direct labor costs. What would be the total ?cost for Job G828 approximately $4,185 .a O $5,400 .b O $4,860 .C $4,455 .d O None of the given answers .e XYZ has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production denartment The Forming Denartment's
tion A Company uses a job-order costing system with a single plantwide predetermined overhead rate based on labor- hours. The company based its predetermined overhead rate for the current year on total estimated manufacturing overhead cost of $120,000 and 4,000 labor-hours. The job sheet of Job1112 shows that the number of units produced in this job order is 5 units. This job required 500 labor-hours and incurred direct materials cost of $5,000 and direct labor costs of $15,500. The unit product cost for Job1112 is: d out of a. $28,100 O b. $2,000 O c. None of the given answers. O d. $7,100 O e. $35,500
ces Mickley Company's plantwide predetermined overhead rate is $20.00 per direct labor-hour and its direct labor wage rate is $15.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $ 230 $ 75 Required: 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.) 1. Total manufacturing cost 2. Unit product cost per unit
Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $ 400 $ 270 34 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 130% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. 156,000 $ 651,000 4.70 S Required 1 Required 2 If Job 400…
Muscat Sayarati Co. uses a job-order costing system with a single plantwide predetermined overhead rate based on labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $665,000, variable manufacturing overhead of $6.00 per labor-hour, and 35,000 labor-hours. The job sheet of Job G828 shows that the number of units in this job order is 45 units which incurred total of 90 labor-hours. This job consumed $14/unit of direct materials cost and $64/unit of direct labor costs. What would be the total cost for Job G828 approximately? O a. $5,760 O b. None of the given answers. O c. $4,635 O d. $4,365 O e. $5,220
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Thatch corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufactruing overhead cost of $665,000, variable manufacturing overhead of $3.00 per machine-hour, and 70,000 machine-hours. Recently, Job T321 was completed with the following characteristics: Number of units in the job 30 Total machine0hours 90 Direct materials $630 Direct labor cost $2,880 The unit product cost for Job T321 is closest to $154.50. How was this answer achieved? Can I see the breakdown of the formula?

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