Deer Lake Inc. uses a job order costing system with manufacturing overhead applied to products at a rate of 150% of direct labor cost.Treating each case independently, find the missing amounts (Input all amounts as positive values.):Case 1Case 2Case 3Direct materials used$21,200$10,000Direct labor$26,700Manufacturing overhead applied$42,450Total manufacturing costs$95,400 $37,500Beginning Work in Process$10,800$7,900Ending Work in process$8,200 $9,000Cost of goods manufactured$93,500 $34,400Beginning Finished Goods$11,900 $13,900Ending Finished Goods$15,500$4,200Cost of goods sold (unadjusted)$91,800 $36,200

Step 1: Case 1: Case 1Direct Material Used $21,200Direct Labor $26,700Manufacturing Overhead Applied…

Answered: Deer Lake Inc. uses a job order costing…

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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Carver Test Systems manufactures automated testing equipment. The company uses a job-order costing system and applies overhead on the basis of machine-hours. At the beginning of the year, estimated manufacturing overhead was P1,960,000 and the estimated machine-hours was 98,000. Data regarding several jobs at Carver are presented below. Beginning Direct Direct MachineJob Number Balance Materials Labor HoursXJ-107 ................... P118,600 P4,000 P8,400 150ST-211 ................... P121,450 P2,500 P12,160 300XD-108.................. P21,800 P86,400 P36,650 3,100SL-205 ................... P34,350 P71,800 P32,175 2,700RX-115 .................. P0 P18,990 P21,845 1,400By the end of the first month (January), all jobs but RX-115 were completed, and all completed jobs had been delivered to customers except for SL-205. How much is the Cost of Goods Sold per job?
MontanaTechnology, Inc. has a job-order costing system. The company uses pre- determined overhead rates in applying manufacturing overhead cost to individual jobs. The pre-determined overhead rate in Department A is based on machine hours, and the rate in Department B is based on direct materials cost. At the beginning of the most recent year, the company's management made the following estimates for the year: Department B 19,000 60,000 $282,000 $520,000 $705,000 Machine-hours 70,000 30,000 $195,000 $260,000 $420,000 Direct labour-hours Direct materials cost Direct labour cost Manufacturing overhead cost Job 243 entered into production on April 1 and was completed on May 12. The company's cost records show the following information about the job: Department A 250 B 60 Machine-hours Direct labour-hours 70 120 $840 $610 $1,100 $880 Direct materials cost Direct labour cost At the end of the year, the records of Montana showed the following actual cost and operating data for all jobs…
Far West Manufacturing Company operates a job-order costing system and applies overhead cost to jobs on the basis of direct material cost. Its predetermined overhead rate was based on a cost formula that estimated $500,000 of manufacturing overhead for an estimated allocation base of $390,625 direct material dollars. The company has provided the following data in the form of an Excel worksheet: Beginning $38,000 79,000 Ending $55,000 166,125 138,000 Raw Materials Work in Process Finished Goods 47,000 The following actual costs were incurred during the year: $450,000 $119,000 Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect materials Insurance, factory Depreciation of equipment Indirect labor 104,875 102,000 35,000 32,700 Property taxes Maintenance Rent, building 41,000 23,425 49,000 Required: 4. Prepare a schedule of cost of goods sold for the year. Adjust the underapplied or overapplied overhead to cost of goods sold. 5. Prepare all journal entries…
Fickel Company has two manufacturing departments-Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $22.00 per direct labor-hour and $18.00 per direct labor-hour, respectively. The company's direct labor wage rate is $24.00 per hour. The following information pertains to Job N-60: Direct materials Direct labor Assembly $ 390 $ 228 1. Total manufacturing cost 2. Unit product cost Testing & Packaging Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job? (Do not round intermediate calculations. Round your answer to 2 decimal places.) $45 $ 132 Answer is complete but not entirely correct. $ $ 971 X 97.10 X per unit
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding Fabrication Total Machine-hours 21,000 32,000 53,000 Fixed manufacturing overhead cost $ 740,000 $ 240,000 $ 980,000 Variable manufacturing overhead cost per machine-hour $ 4.00 $ 1.50 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs—Job D-70 and Job C-200. It provided the following information related to those two jobs: Job D-70 Molding Fabrication Total Direct materials cost $ 370,000 $ 320,000 $ 690,000 Direct labor cost $ 220,000 $ 160,000 $ 380,000 Machine-hours 17,000 4,000 21,000 Job C-200 Molding Fabrication Total Direct materials cost $ 280,000 $ 200,000 $ 480,000 Direct labor cost $ 180,000 $ 280,000 $ 460,000 Machine-hours 4,000 28,000…
ces Mickley Company's plantwide predetermined overhead rate is $20.00 per direct labor-hour and its direct labor wage rate is $15.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $ 230 $ 75 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 40 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
The total cost of Job IABF is:
Please give me answer immediately.
Nashville Inc. uses a job order costing system with manufacturing overhead applied to products at a rate of 200% of direct labor cost. Treating each case independently, find the missing amounts (Input all amounts as positive values.): Case 1 Case 2 Case 3 Direct materials used $ 52,000 Direct labor $ 52,000 $ 62,000 Manufacturing overhead applied 77,000 Total manufacturing costs $ 198,000 $ 234,000 Beginning Work in Process $ 47,000 Ending Work in process $ 42,000 $ 35,000 $ 49,000 Cost of goods manufactured $ 195,000 $ 254,000 Beginning Finished Goods 44,000 $ 46,000 Ending Finished Goods $ 44,000 2$ 47,000 Cost of goods sold (unadjusted) $ 95,000 $ 241,000 %24 %24
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding Fabrication Total Machine-hours 20,000 35,000 55,000 Fixed manufacturing overhead costs $ 780,000 $ 240,000 $ 1,020,000 Variable manufacturing overhead cost per machine-hour $ 4.00 $ 1.50 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs—Job D-70 and Job C-200. It provided the following information related to those two jobs: Job D-70: Molding Fabrication Total Direct materials cost $ 370,000 $ 320,000 $ 690,000 Direct labor cost $ 240,000 $ 140,000 $ 380,000 Machine-hours 16,000 4,000 20,000 Job C-200: Molding Fabrication Total Direct materials cost $ 280,000 $ 280,000 $ 560,000 Direct labor cost $ 120,000 $ 280,000 $ 400,000 Machine-hours 4,000 31,000…
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