ans Babu Company completes job #928which has a standard of 610 laborhours at a standard rate of $19.30per hour. The job was completedin 590 hours and the averageactual labor rate was $19.10 perhour. What is the laborlabor ratevariance?

Explanation of Standard Labor Hours: This represents the pre-determined or budgeted number of hours…

Answered: Babu Company completes job #928 which…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 10EB: Inez has the following information relating to Job AA5. Direct material cost was $200,000, direct...

See similar textbooks

Similar questions

Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
If a factory operates at 100% of capacity one month, 90% of capacity the next month, and 105% of capacity the next month, will a different cost per unit be charged to the work-in-process account each month for factory overhead assuming that a predetermined annual overhead rate is used?
Cavy Company estimates that total factory overhead costs will be $1,011,028 for the year. Direct labor hours are estimated to be 100,700. a. Determine the predetermined factory overhead rate. Round your answer to the nearest cent.$fill in the blank 8b99eb02a009f9f_1 b. Determine the amount of factory overhead applied to Job 567 if the amount of direct labor hours is 1,200 and Job 999 if the amount of direct labor hours is 2,800. Job 567 $fill in the blank 8b99eb02a009f9f_2 Job 999 $fill in the blank 8b99eb02a009f9f_3 c. Prepare the journal entry to apply factory overhead for April according to the predetermined overhead rate. fill in the blank aa9138f9703b038_2 fill in the blank aa9138f9703b038_4
Cavy Company estimates that total factory overhead costs will be $572,128 for the year. Direct labor hours are estimated to be 94,100. a. Determine the: 1. Predetermined factory overhead rate. Round your answer to the nearest cent.$fill in the blank acece905b02a058_1 per labor hour 2. Amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and Job 777 if the amount of direct labor hours is 3,300. Job 345 $fill in the blank acece905b02a058_2 Job 777 $fill in the blank acece905b02a058_3 b. Journalize the entry to apply factory overhead for April, assuming Jobs 345 and 777 are the only jobs in production during the month. If an amount box does not require an entry, leave it blank. - Select - - Select - - Select - - Select - - Select - - Select -
WUIKS UH three jobs during the upcoming year. Direct labor-hours recorded by job are: job 237, 7,000 hours; job 250. 30,000 hours; and job 239, 21.000 hours. How much overhead cost will the company apply to Work in Process for the year? If actual costs are P420,000 for the year, will overhead be underapplied or overapplied? by how much? Exercise 4 (Departmental Overhead Rates) Bobcat Company has two departments, milling and assembly. The company uses a job-order cost system and computes a predetermined overhead rate in each department. The milling department bases its rate on machine-hours, and the assembly department bases its rate on direct labor cost. At the beginning of the year, the company made the following estimates: Department Milling 8,000 60,000 P510,000 72,000 Assembly Direct labor-hours 75,000 3,000 P800,000 640,000 Machine-hours Manufacturing overhead cost Direct labor cost Required: 1. Compute the predetermined overhead rate to be used in each department. 2. Assume that…
Cavy Company estimates that total factory overhead costs will be $747,937 for the year. Direct labor hours are estimated to be 104,900. a. Determine the:1. Predetermined factory overhead rate. Round your answer to the nearest cent.2. Amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,000 and Job 777 if the amount of direct labor hours is 3,000. Job 345 Job 777 b. Journalize the entry to apply factory overhead for April, assuming Jobs 345 and 777 are the only jobs in production during the month. If an amount box does not require an entry, leave it blank.
Cavy Company estimates that total factory overhead costs will be $1,053,206 for the year. Direct labor hours are estimated to be 107,800. a. Compute the predetermined factory overhead rate. Round your answer to the nearest cent. $4 per direct labor hour b. Determine the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and to Job 777 if the amount of direct labor hours is 3,300. Job 345 Job 777 $4 c. Journalize the entry to record the factory overhead applied if Jobs 345 and 777 are the only jobs for the period. If an amount box does not require an entry, leave it blank.
Assume that a company pays a 5% sales commisslon. Also, assume (1) a company's plantwide predetermined overhead rate is $13.00 per direct labor-hour, and (2) Its job cost sheet for Job X shows that this Job used 18 direct labor-hours and Incurred direct materlals and direct labor charges of $500 and $360, respectively. What is the total cost of Job X? Multiple Choice $1,105.70 $734.00 $1,148.70 $1,094.00
Cavy Company estimates that total factory overhead costs will be $1,039,500 for the year. Direct labor hours are estimated to be 110,000.
Cavy Company estimates that total factory overhead costs will be $653,310 for the year. Direct labor hours are estimated to be 109,800. a. Determine the: 1. Predetermined factory overhead rate. Round your answer to the nearest cent. per labor hour 2. Amount of factory overhead applied to Job 456 if the amount of direct labor hours is 1,400 and Job 888 if the amount of direct labor hours is 2,900. Job 456 Job 888 b. Journalize the entry to apply factory overhead for April, assuming Jobs 456 and 888 are the only jobs in production during the month. If an amount box does not require an entry, leave it blank. Previous 9:07 PM 耳||門 a 35 F 》回0 2. 11/29/2021 %24
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that total factory overhead costs would be $329,900 and direct labor hours would be 43,500. Actual manufacturing overhead costs incurred were $308,200, and actual direct labor hours were 51,900. What is the predetermined factory overhead rate per direct labor hour? a. $6.07 b. $11.38 c. $7.58 d. $9.10
Assume that a company pays a 5% sales commission. Also, assume (1) a company's plantwide predetermined overhead rate is $13.00 per direct labor-hour, and (2) its job cost sheet for Job X shows that this job used 18 direct labor-hours and incurred direct materials and direct labor charges of $500 and $360, respectively. What is the total cost of Job X? O $1,105.70 O $734.00 O $1148.70 O $1094.00

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Babu Company completes job #928 which has a standard of 610 labor hours at a standard rate of $19.30 per hour. The job was completed in 590 hours and the average actual labor rate was $19.10 per hour. What is the labor labor rate variance?