Assume an assembly line worker records the following time for a normal 40-hom week, and assume the worker is paid $20 per hour. 10 hours working on Product A 12 hours working on Product B 7 hours working on Product C 5 hours working on Product D 3 hours idle time due to a power outage 3 hours cleaning up the factory + What amount of the assembly line worker's wages would be considered directi overhead, and period costs? Direct Labor Overhead Period costs

Assume an assembly line worker records the following time for a normal 40-hom week, and assume the worker is paid $20 per hour. 10 hours working on Product A 12 hours working on Product B 7 hours working on Product C 5 hours working on Product D 3 hours idle time due to a power outage 3 hours cleaning up the factory + What amount of the assembly line worker's wages would be considered directi overhead, and period costs? Direct Labor Overhead Period costs

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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A company has an overhead application rate of 120% of direct labor costs. How much overhead would be allocated to a job if it required total labor costing $30,000? O $6.000 O $25.000 O $36,000 O $187.500 O $360.000 Question 10 O.K. Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. O.K. expects to incur $1,100,000 of overhead during the next period and expects to use 50,000 labor hours at a cost of $10.00 per hour. What is O.K. Company's overhead application rate? O 4.55% O 45.45% O 220% O 227% O 2,200% Question 11
Your Company uses a predetermined overhead rate based on machine hours to apply manufacturing overhead to jobs. Last year, the company worked 38,500 direct labor-hours and incurred $756,800 of actual manufacturing overhead cost. Overhead was over-applied by $5,000. What was the predetermined overhead rate? (Round to two digits if necessary.) Group of answer choices $19.15 $19.66 $19.79 $19.53 $19.50
The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c. Click the icon to view the monthly data. a. Develop a sim Overhead Costs (Round the const Monthly Overhead Costs and Billable Hours Data Overhead Costs Billable Hours $385,000 2,000 $425,000 3,000 $445,000 4,000 $496,000 5,000 $560,000 6,000 $580,000 7,000 - clude the $ symbol in your answers.)
Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling $88,800 Number of moves 4,000 Engineering 117,600 Number of change orders 8,000 Other overhead 174,800 Direct labor hours 46,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job 13-45 Job 13-46 Beginning balance $23,400 $19,200 $4,700 $0 Direct materials $5,800 $9,600 $13,400 $10,100 Direct labor cost $950 $1,010 $1,590 $110 Job 13-43 Job 13-44 Job 13-45 Job 13-46 Number of moves 46 46 33 Number of change orders 35 37 17 23 Direct labor hours 950 1,010 1,590 110 By July 31, Jobs 13-43 and 13-44 were completed and sold. Jobs 13-45 and 13-46 were still in process.
Bret's RV Manufacturing uses job order costing to account for it's manufacturing costs. The company estimates total manufacturing overhead costs for the coming year to be $282,783. The total direct materials costs are estimated to be $784,555. The total direct labor hours are estimated to be 67,670 hours with direct labor costs estimated at $541,365. What is the Predetermined Overhead rate if the company applies overhead based on direct labor hours? 52.24% 36.04% O417.89% 23.93% O4,18%
Why might a company claim that the total cost of employing a person is $15.30 per hour when the employee's wage rate is $10.50 per hour? How should this difference be classified and why?
Use the following information to answer the question. Estimated manufacturing overhead $180,000 Actual manufacturing overhead $240,000 Estimated direct labour hours 15,000 Actual direct labour hours worked 16,000 The predetermined overhead rate for applying manufacturing overhead would be:
Kyle Forman worked 47 hours during the week for Erickson Company at two different jobs. His pay rate was $14.00for the first 40 hours, and his pay rate was $11.80 for the other 7 hours. Determine his gross pay for that week if thecompany uses the one-half average rate method.a. Gross pay ........................................................................................................................ $b. If prior agreement existed that overtime would be paid at the rate for the jobperformed after the 40th hour, the gross pay would be ................................................... $
preparing pay roll the assembly line worker at K moters are paid any hourly wage plus overtime for each hour worked over 40 each week. Overtime is paid at 1.5 times the hourly wage. find the amout of gross earings for these employees total hours Hourly wage tom 39 6.95 Janet 42 7.10 Paul 45 7.15 Rose 41 7,75
In a factory, a team of six maintenance staff are paid a guaranteed weekly wage. Which of the following is the most appropriate cost classification for their wages? Direct labour cost Indirect labour cost Semi-variable cost Variable overhead cost
Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries Administrative-related depreciation Total expected costs Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $11.91 per hour. 2. Determine the amount of applied overhead if 18,600 actual hours are worked in the upcoming year. Required 1 Required 2 Complete this question by entering your answers in the tabs below. $ 341,800 61,500 140,000 211,998 Predetermined Overhead Rate 39,400 33,750 22,500 55,000 19, 200 $925,148 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $11.91 per hour. Note: Round your answer to 2 decimal…