Allocating Overhead Job 303 includes direct materials costs of $550 and direct labor costs of $400. If the predetermined overhead allocation rate is 40% of direct labor cost, what is the total cost assigned to Job 303?

Allocating Overhead Job 303 includes direct materials costs of $550 and direct labor costs of $400. If the predetermined overhead allocation rate is 40% of direct labor cost, what is the total cost assigned to Job 303?

Name: Allocating OverheadJob 303 includes direct materials costs of $550 and
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Description: Allocating OverheadJob 303 includes direct materials costs of $550 and direct labor costs of $400. If the predetermined overhead allocation rate is 40% of direct labor cost, what is the total cost assigned to Job 303?

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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6
Sterner Company computes its predetermined overhead application rate using direct labor hours as the activity base. Estimated and actual overhead costs and direct labor hours for the year were as follows:Estimated ActualManufacturing overhead costs . . . . . . . . . . . . $126,000 $118,020Direct labor hours . . . . . . . . . . . . . . . . . . . . . . 10,000 9,200Based on this information, manufacturing overhead wasa. underapplied by $2,100.b. underapplied by $3,420.c. overapplied by $3,420.d. overapplied by $5,580.e. none of the above.
Job 493 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $3,190 Direct labor-hours 51 labor-hours Direct labor wage rate $15 per labor-hour Machine-hours 175 machine-hours The company applies manufacturing overhead on the basis of machine hours. The predetermined overhead rate is $15 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 493 would be: $6,580 $3,219 $5,249 $6,880 None of the above Please show your work.
Da
Job number S-1000 had the following data: Direct Labor hours used: Direct Materials used: Hourly wage rate: 32 $750 $45/hr. Overhead allocation rate: $15/direct labor hr. Assuming this was the only job completed this month, what was the total cost of Job S-1000?
Assume that actual overhead costs were $78,000 and overhead allocated to jobs was $58,000. The unadjusted balance in Manufacturing Overhead would be was O A. $20,000 credit balance; overapplied O B. $20,000 credit balance; underapplied OC. $20,000 debit balance; underapplied O D. $20,000 debit balance; overapplied because the overhead
The Jase Company allocates overhead based on a predetermined overhead rate of $9.00 per direct labor hour. Job J904 required 8 tons of direct material at a cost of $600 per ton and took employees who earn $21 per hour a total of 80 hours to complete. What is the total cost of Job J904?
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
Newhard company assigns overhead cost to jobs on the basis of 118% of direct labor costs. The job cost sheet for job 313 includes $23,664 in direct materials cost and $10,200 in direct labor cost. A total of 1,350 units were produced in job 313. A. what is the total manufacturing cost assigned to job 313? b. what is the unit product cost for job 313?
XYZ Inc. has a job order costing system and an overhead application rate of 125% of direct labour cost. Job 51 is charged with direct material of $11,000 and overhead of $5,200. Job 52 has direct material of $3,000 and direct labour costs of $6,500. What is the amount of direct labour charged to Job 51?
prepare entry to assign manufacturing overhead to production, assuming the predetermined overhead rate is 125% of direct labor cost.
Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period: Estimated annual overhead cost Actual annual overhead cost Estimated machine hours Actual machine hours $1,560,000 applied and $15,000 overapplied $1,600,000 applied and $15,000 overapplied $1,560,000 applied and $15,000 underapplied $1,575,000 applied and neither under- nor overapplied ● An A ♫ $1,600,000 $1,575,000 400,000 W 390,000 D P & E f