Dacosta Corporation had only one job in process on May 1. The job had been charged with $1,900 of direct materials, $6,966 of direct labor, and $9.964 manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $18.60 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance Purchased during the month Used in production Labor: Direct labor-hours worked during the month Direct labor cost incurred Actual manufacturing overhead costs incurred Inventories: Raw materials, May 30 Work in process, May 30 $ 8,600 $38,100 $39,400 2,000 $24,610 $33,400 $18,260 Work in process inventory on May 30 contains $3,759 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The cost of goods manufactured for May was:
Dacosta Corporation had only one job in process on May 1. The job had been charged with $1,900 of direct materials, $6,966 of direct labor, and $9.964 manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $18.60 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance Purchased during the month Used in production Labor: Direct labor-hours worked during the month Direct labor cost incurred Actual manufacturing overhead costs incurred Inventories: Raw materials, May 30 Work in process, May 30 $ 8,600 $38,100 $39,400 2,000 $24,610 $33,400 $18,260 Work in process inventory on May 30 contains $3,759 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The cost of goods manufactured for May was:
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter5: Product And Service Costing: Job-order System
Section: Chapter Questions
Problem 17E: During August, Skyler Company worked on three jobs. Data relating to these three jobs follow:...
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Transcribed Image Text:Dacosta Corporation had only one job in process on May 1. The job had been charged with $1,900 of direct materials, $6,966 of direct labor, and $9,964 of
manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $18.60 per direct labor-hour.
During May, the following activity was recorded:
Raw materials (all direct materials):
Beginning balance
Purchased during the month
Used in production
Labor:
Direct labor-hours worked during the month
Direct labor cost incurred
Actual manufacturing overhead costs incurred
Inventories:
$ 8,600
$38,100
$39,400
2,000
$24,610
$33,400
?
$18,260
Raw materials, May 30
Work in process, May 30
Work in process inventory on May 30 contains $3,759 of direct labor cost. Raw materials consist solely of items that are classified as direct materials.
The cost of goods manufactured for May was:
Transcribed Image Text:Multiple Choice
O
O
O
O
$110,620
$101,210
$103,077
$101,780
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