Ans plz accounting question Bright Legal Associates, a law firm, worked on a total of 1,200 cases this month, 950 of whichwere completed during the period. The remaining cases were 50% complete. The firmincurred $210,000 in direct labor and overhead costs during the period and had $5,200 inadditional case-related expenses.Required:1. Compute the equivalent units of work done during the month.2. Determine the cost per equivalent unit.3. Calculate the total cost assigned to completed cases and the cost assigned to in-progresscases.

Step 1: Definition of Equivalent Units and Cost AllocationEquivalent units represent the portion of…

Answered: Bright Legal Associates, a law firm,…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 2PB: Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500...

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Before the year began, Brookville Manufacturing estimated that manufacturing overhead for the year would be $176,400 and that 13,300 direct labor hours would be worked. Actual results for the year included the following: Actual manufacturing overhead cost Actual direct labor hours $184,400 14,500 The amount of manufacturing overhead allocated for the year based on direct labor hours would have been ? (Round intermediary calculations to the nearest cent and final answer to the nearest dollar.) A. $176,400. B. $192,270. C. $184,400. OD. $169,139.
What was the total cost of cases competed ?
The cost formula for the maintenance department of Rainbow Ltd. is $19,400 per month plus $7.70 per machine hour used by the production department.Required:a. Calculate the maintenance cost that would be budgeted for a month in which 6,700 machine hours are planned to be used. b. Prepare an appropriate performance report for the maintenance department assuming that 7,060 machine hours were actually used in the month of May and that the total maintenance cost incurred was $68,940. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
Bergan Company estimates that total factory overhead costs will be $1,539,000 for the year. Direct labor hours are estimated to be 513,000. Required: A. For Bergan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. Round your answer to the nearest cent. B. During May, Bergan Company accumulated 19,000 hours of direct labor costs on Job 200 and 23,000 hours on Job 305. Determine the amount of factory overhead applied to Jobs 200 and 305 in May. C. Prepare the journal entry on May 30 to apply factory overhead to both jobs in May according to the predetermined overhead rate. Refer to the Chart of Accounts for exact wording of account titles. A. For Bergan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. Round your answer to the nearest cent. per direct labor hour B. During May, Bergan Company accumulated 19,000 hours of direct labor costs…
Irving Manufacturing applies manufacturing overhead to jobs based on machine hours used. Overhead costs are expected to total $312,500 for the year, and machine usage is estimated at 140,500 hours. For the year, $385,250 of overhead costs are incurred, and 147,800 hours are used. Requirement: Compute the budgeted and actual manufacturing overhead rates for the year. (Round answers to 2 decimal places.) Answer
By year end the firm's overhead was
by year-end, the firm's overhead was.
Lockmiller Company estimates that total factory overhead costs will be $867,000 for the year. Direct labor hours are estimated to be 102,000. Required: a. For Lockmiller Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. Round your answer to the nearest cent. b. During May, Lockmiller Company accumulated 1,900 hours of direct labor costs on Job 275 and 2,600 hours on Job 310. Determine the amount of factory overhead applied to Jobs 275 and 310 in May. c. Prepare the journal entry on May 30 to apply factory overhead to both jobs in May according to the predetermined overhead rate. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Chart of Accounts CHART OF ACCOUNTS…
By year end the firms overhead was
Cavy Company estimates that the factory overhead for the following year will be $1,229,600. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 23,200 hours. The machine hours for the month of April for all of the jobs were 4,650. If the actual factory overhead for April totaled $242,014, determine the over- or underapplied amount for the month. Enter the amount as a positive number.$fill in the blank 1 Underapplied
The cost formula for the maintenance department of the Eifel Co. is $6,500 per month plus $3.50 per machine hour used by the production department. a. Calculate the maintenance cost that would be budgeted for the month of May in which 5,700 machine hours are planned to be used. b. Prepare an approproate performance report for the maintenance department assuming that 5,860 machine hours were actually used in the month of May, and the total maintenance cost inccured was $28,010.
Assume a company incurs $192,000 in customer service salaries. The employees in the Customer Service Department spend their time performing four activities as follows: 40% of their time is spent in Problem Resolution, 25% of their time is spent in New Account Setup, 20% of their time is spent in Payment Processing, and 15% is spent in Other activities. In the company's activity-based costing system, how much of the customer service salaries would be allocated to the New Account Setup activity? A) $76,800 B) $38,400 C) $124,800 D) $48,000

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