Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used as promotional items. Following are simplified job cost sheets for two separate job lots. Job 1 was for 250 units and Job 2 was for 260 units. Job Number Job 1 Materials Labor Overhead Job Number Job 2 Materials Labor Overhead $ 425 750 900 1-a. Compute total cost per unit for Job 1 and for Job 2. 1-b. Which job has a higher total cost per unit? 2-a. Compute direct materials cost per unit for each job. 2-b. Which job has a higher direct materials cost per unit? Req 1A $ 403 780 936 Complete this question by entering your answers in the tabs below. Total cost per unit Req 1B Req 2A Compute total cost per unit for Job 1 and for Job 2. (Round your answers to two decimal places.) Req 2B Job 1 Job 2 < Req 1A Req 1B >

Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used as promotional items. Following are simplified job cost sheets for two separate job lots. Job 1 was for 250 units and Job 2 was for 260 units. Job Number Job 1 Materials Labor Overhead Job Number Job 2 Materials Labor Overhead $ 425 750 900 1-a. Compute total cost per unit for Job 1 and for Job 2. 1-b. Which job has a higher total cost per unit? 2-a. Compute direct materials cost per unit for each job. 2-b. Which job has a higher direct materials cost per unit? Req 1A $ 403 780 936 Complete this question by entering your answers in the tabs below. Total cost per unit Req 1B Req 2A Compute total cost per unit for Job 1 and for Job 2. (Round your answers to two decimal places.) Req 2B Job 1 Job 2 < Req 1A Req 1B >

Name: Bell Company produces stainless steel drink tumblers, its only produc
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used aspromotional items. Following are simplified job cost sheets for two separate job lots. Job 1 was for 250 units and Job 2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used as promotional items. Following are simplified job cost sheets for two separate recently completed job lots. Job 1 was for 250 units and Job 2 was for 300 units. Job Number 1 Materials Labor Overhead Job Number 2 Materials Labor Overhead 250 units $ 875 840 1,260 1-a. Compute total cost per unit for Job 1 and for Job 2. 1-b. Which job has a higher total cost per unit? 2-a. Compute direct materials cost per unit for each job. 2-b. Which job has a higher direct materials cost per unit? Req 1A 300 units $ 1,020 1,044 1,566 Complete this question by entering your answers in the tabs below. Total cost per unit Req 1B Req 2A Req 2B Compute total cost per unit for Job 1 and for Job 2. (Round your answers to two decimal places.) Job 1 Job 2
Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Debit Factory Wages Payable Debit Credit Credit 46,900 Work in Process Inventory Debit Credit 26,150 9,900 26,150 87,650 104,584 Required 1 172,220 1. Compute the amount for each of the following. a. Direct materials used b. Indirect materials used c. Direct labor used d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied overhead) 2. Compute the amount that overhead is overapplied or underapplied. Required 2 127,900 Complete this question by entering your answers in the tabs below. Finished Goods Inventory Credit Debit 172,220 155,190 Required 1 Required 2 87,650 42, 150 Compute the amount for each of the following. a. Direct materials used b. Indirect materials used c. Direct labor used d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied…
Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $21.50 per hour. During the year, the company started and completed only two jobs-Job Alpha, which used 64,900 direct labor-hours, and Job Omega. The job cost sheets for these two jobs are shown below: Job Alpha Direct materials Direct labor Manufacturing overhead applied Total job cost Job Omega Direct materials Direct labor Manufacturing overhead applied Total job cost $ 2,806,000 $ 443,900 571,900 385,700 $ 1,401,500 Required: 1. Calculate the plantwide predetermined overhead rate. 2. Complete the job cost sheet for Job Alpha. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Calculate the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Plantwide predetermined overhead rate Eper DLH
Brooklyn Company produces leather bags for individual or corporates. On December 1, there were three jobs in process with the following costs attached below Questions : If overhead is applied on the basis of electricity consumed, what is the overhead rate? If overhead is applied on the basis of direct material consumed, what is the overhead rate? Please compute the overhead allocated for each job if the basis used is electricity consumed.
Mickley Company's plantwide predetermined overhead rate is $19.00 per direct labor-hour and its direct labor wage rate is $16.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $ 240 $ 160 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 60 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
Mickley Company's plantwide predetermined overhead rate is $21.00 per direct labor-hour and its direct labor wage rate is $12.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $ 260 $ 120 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 50 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 Answer is not complete. 570 per unit
Mickley Company’s plantwide predetermined overhead rate is $19.00 per direct labor-hour and its direct labor wage rate is $13.00 per hour. The following information pertains to Job A-500: Direct materials $ 280 Direct labor $ 260 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 30 units, what is the unit product cost for this job?
Herschel Enterprises uses a job-order costing system. At the beginning of March, the company had two jobs in process with the following costs: Direct Material Direct Labor Overhead Job #893 $3,400 $510 $255 Job #904 1,100 289 ? Herschel Enterprises pays its workers $8.50 per hour and applies overhead on a direct labor hour basis. During March, Herschel’s employees worked on Job #978. At the end of the month, the job was not yet complete but $714 of overhead had been applied to this job. Total Work in Process at the end of the month was $6,800 and all other jobs in process had a total cost of $3,981. What amount of direct material is included in Job #978? Select one: a. $725 b. $935 c. $1,391 d. $2,142 e. $677
Mickley Company's plantwide predetermined overhead rate is $19.00 per direct labor - hour and its direct labor wage rate is $12.00 per hour. The following information pertains to Job A-500: Direct materials $ 240 Direct labor $ 120 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 60 units, what is the unit product cost for this job?
Harwood Company uses a Job-order costing system that applies overhead cost to Jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.60 per machine-hour was based on a cost formula that estimates $260,000 of total manufacturing overhead for an estimated activity level of 100.000 machine-hours. Required: 1. Assume that durling the year the company works only 95,000 machine-hours and incurs the following costs In the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead cost that would be applied to Work In Process for the year and make the entry In your T-accounts. 2A. Compute the amount of underapplied or overapplied overhead for the year and show the balance In your Manufacturing Overhead T-account. 28. Prepare a Journal entry to close the company's underapplied or overappled overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs belovw. Req 1 Req 2A Req 28 Compute the amount of overhead…
A manufacturer’s job cost sheet reports direct materials of $1,200 and direct labor of $250 for printing 200 T-shirts for a bikers’ reunion. Estimated overhead is computed as 140% of direct labor costs. 1. What is the estimated overhead cost for this job? 2. What is the total cost per T-shirt for this job? 3. What journal entry does the manufacturer make upon completion of this job to transfer costs from work in process to finished goods?
Mickley Company’s plantwide predetermined overhead rate is $20.00 per direct labor-hour and its direct labor wage rate is $11.00 per hour. The following information pertains to Job A-500: Direct materials $ 210 Direct labor $ 165 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 80 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.)