Dehner Corporation uses a job - order costing system with a single plantwide predetermine overhead rate based on direct labor - hours. The company based its predetermined overhea rate for the current year on the following estimates: Total estimated direct labor - hours 44,0 Total estimated fixed manufacturing overhead cost $ 224,400 Estimated Variable manufacturing overhead per direct labor - hour $ 5.00 Recently, Job P951 was completed w the following characteristics: Total direct labor - hours 100 Direct materials $ 750 Direct labo cost $4,400 The total job cost for Job P951 is Question 10 options: $6, 160 $1,760 $5, 150 $

Dehner Corporation uses a job - order costing system with a single plantwide predetermine overhead rate based on direct labor - hours. The company based its predetermined overhea rate for the current year on the following estimates: Total estimated direct labor - hours 44,0 Total estimated fixed manufacturing overhead cost $ 224,400 Estimated Variable manufacturing overhead per direct labor - hour $ 5.00 Recently, Job P951 was completed w the following characteristics: Total direct labor - hours 100 Direct materials $ 750 Direct labo cost $4,400 The total job cost for Job P951 is Question 10 options: $6, 160 $1,760 $5, 150 $

Name: Dehner Corporation uses a job - order costing system with a single pl
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Dehner Corporation uses a job - order costing system with a single plantwide predeterminedoverhead rate based on direct labor-hours. The company based its predetermined overheadrate for the current year on the following estimates: Total estimated di

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Meenach Corporation uses a job-order costing system with a single plantwide pres hours. The company…

A: The application of overhead entails the allocation of indirect production expenses to a company's…

Q: Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of…

Q: The Putman Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs.…

A: The overhead is applied to the production on the basis of predetermined overhead rate. The…

Q: Blueberry Corp. uses a job order costing system with manufacturing overhead applied to products on…

A: Solution: Manufacturing overheads are indirect manufacturing cost of the company that is part of…

Q: Beat Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…

A: The overhead is applied to the production on the basis of the pre-determined overhead rate. The…

Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…

A: PREDETERMINED OVERHEAD RATEPredetermined rate means an indirect cost rate.Predetermined overhead…

Q: following estimates: Machine - hours required to support estimated production 160, 000 Fixed…

A: The pre-determined overhead rate is calculated as the estimated overhead costs divided by the…

Q: Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of…

A: Direct material cost is the cost of raw material produced or purchased to produce the final…

Q: Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead…

A: The manufacturing overhead is applied to the production on the basis of pre-determined overhead…

Q: Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate bas…

A: Solution Formula used Plant wide predetermined overhead rate =estimated overhead cost…

Q: Dravid Corporation uses a job-order costing system with a single plantwide predetermined overhead…

A: A rate that is used to allocate the manufacturing overhead is known as the predetermined overhead…

Q: Almaraz Corporation has two manufacturing departments--Forming and Finishing. The company used the…

A: Plantwide Predetermined manufacturing overhead rate is the amount of predetermined overhead rate…

Q: Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of…

A: Introduction:If applied overhead is less than actual overhead, called as underapplied overhead.If…

Q: Landen Corporation uses a job-order costing system. At the beginning of the year, the company made…

A: A system in which a manufacturing firm calculate its cost of goods as per job basis is called job…

Q: po Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…

A: Overhead -The term "overhead" describes the continuous expenses of operating a firm that are not…

Q: Landen Corporation uses a job-order costing system. At the beginning of the year, the company made…

A: Direct material cost is the cost of raw material produced or purchased to produce the final…

Q: ANO Corporation uses a job-order costing system with a predetermined overhead rate based on direct…

A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…

Q: Direct labor-hours required to support estimated production Machine-hours required to support…

A: The overhead is applied to the production on the basis of predetermined overhead rate. The…

Q: The Fine Company uses a job order costing system. The following information belongs to current…

A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…

Q: Only typed solution

A: The objective of the question is to find out the direct materials cost for Job Teta. To do this, we…

Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…

A: The pre-determined overhead rate is calculated as the estimated overhead costs divided by the…

Q: Shipley Corporation uses a job-order costing system with a single plantwide predetermined overhead…

A: Solution: Predetermined overhead rate = Variable overhead rate per machine hour + (Estimated fixed…

Q: Landen Corporation uses a job-order costing system. At the beginning of the year, the company made…

A: Since you have posted a question with multiple sub-parts, we will do the first three sub-parts for…

Q: A Company uses a job-order costing system witha single plantwide predetermined overhead rate based…

A: Job Order Costing:-It helps in detecting prime cost which is assigned direct material and direct…

Q: Blueberry Corp. uses a job order costing system with manufacturing overhead applied to products on…

A: Predetermined overhead rate is computed in order to determine the estimated overhead for a specific…

Q: Gitano Products uses job-order costing and applies overhead cost to jobs based on direct materials…

A: The objective of the question is to compute the predetermined overhead rate, the amount of…

Q: Session Corporation uses a job-order costing system with a single plantwide predetermined overhead…

A: Let's start by computing the predetermined fixed overhead per direct labor hours. Divide the given…

Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…

A: The predetermined overhead rate is a key component in the allocation of manufacturing overhead costs…

Q: Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based…

A: Predetermined Overhead Rate :— It is the rate used to allocate manufacturing overhead cost to cost…

Concept explainers

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.

Topic Video

Question

Dehner Corporation uses a job - order costing system with a single plantwide predetermined
overhead rate based on direct labor-hours. The company based its predetermined overhead
rate for the current year on the following estimates: Total estimated direct labor - hours 44,000
Total estimated fixed manufacturing overhead cost $ 224,400 Estimated Variable
manufacturing overhead per direct labor - hour $5.00 Recently, Job P951 was completed with
the following characteristics: Total direct labor - hours 100 Direct materials $ 750 Direct labor
cost $4,400 The total job cost for Job P951 is Question 10 options: $6, 160 $1,760 $5,150 $
5, 410

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Meaning

VIEW

Step 2: Calculation of total cost

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Please help me solve the total manufacturing cost for Job D-70 & Job C-200
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 30,000 $ 252,000 $ 2.10 Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T687 was completed with the following characteristics: Number of units in the job 10 Total machine-hours 30 $ 675 $ 1,050 Direct materials Direct labor cost The of overhead applied to Job T687 is closest to: your intermediate calculations decimal places.) Multiple Choice $315 $252 $378 $63
Gitano Products uses job-order costing and applies overhead cost to jobs based on direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate is based on a cost formula that estimated $129,000 of manufacturing overhead for an estimated allocation base of $86,000 direct material dollars to be used in production. The company provided the following data for the just completed year: Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building Raw Materials Work in Process Finished Goods Required: Beginning $ 28,000 $ 45,000 $ 71,000 $ 131,000 $82,000 $ 140,000 $ 8,400 $ 16,000 $ 11,000 $ 10,000 $ 38,000 Ending $ 13,000 $ 35,000 $ 58,000 1. Compute the predetermined overhead rate. 2. Compute the amount of underapplied or overapplied overhead. 3. Prepare a schedule of cost of goods manufactured. Assume all raw materials are used in…
Kostelnik Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $237,000, variable manufacturing overhead of $3.90 per machine-hour, and 30,000 machine-hours. The company has provided the following data concerning Job A496 which was recently completed: Number of units in the job Total machine-hours Direct materials Direct labor cost 20 80 $ 500 $ 2,160 If the company marks up its unit product costs by 40% then the selling price for a unit in Job A496 is closest to: Note: Round your intermediate calculations to 2 decimal places.
Hilltop Manufacturing uses a predetermined manufacturing overhead rate based on machine hours to allocate manufacturing overhead to jobs. Selected data about the company's operations follows: Actual manufacturing overhead cost $500,000 Estimated manufacturing overhead cost $550,000 Estimated direct labor cost $175,800 Estimated direct labor hours 50,500 Actual direct labor hours 60,700 Estimated machine hours 40,600 Actual machine hours 35,800 By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.)
Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used 151,000 $ 656,000 $ 4.90 $ 320 $ 250 36 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400?
MNO Corporation uses a job-order costing system with a predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total estimated direct labor-hours 50,000 Total estimated fixed manufacturing $285,000 overhead cost Estimated variable manufacturing overhead per direct labor-hour 3.80 $ Recently, Job P123 was completed with the following characteristics: Total actual direct labor-hours 20 $ 710 $ 500 Direct materials Direct labor cost The total job cost for Job P123 is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $1,210 $1,400 $690 $900
Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $105,600 of manufacturing overhead for an estimated allocation base of $88,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: Purchase of raw materials Direct labor cost Manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building $ 137,000 $ 84,000 $ 98,200 $ 8,400 $ 16,000 $ 15,000 $ 8,300 $ 40,000 Ending Beginning Raw Materials $30,000 $ 15,000 Work in Process $ 47,000 $ 37,000 Finished Goods $ 71,000 $ 55,000 Required: 1. Compute the predetermined overhead rate for the year. 2. Compute the amount of underapplied or overapplied overhead for the year. 3. Prepare a schedule of cost of goods…
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials Direct labor cost Multiple Choice If the company marks up its unit product costs by 40% then the selling price for a unit in Job T687 is closest to: Note: Round your intermediate calculations to 2 decimal places. O O $113.60 $754.00 $397.60 10 30 $ 690 $ 1,370 $288.40 30,500 $ 610,000 $ 6.00
Malcolm Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. The estimates for the year were: Manufacturing overhead $16,240 Direct labor hours 11,600 The actual results for the year were: Manufacturing overhead $21,700 Direct labor hours 13,000 The cost records for the year will show Group of answer choices Overapplied overhead of $5,460. Underapplied overhead of $5,460 Overapplied overhead of $ 3,500. Underapplied overhead of $3,500
Harootunlan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T629 was completed with the following characteristics: Number of units in the job Total machine-hours The amount of overhead applied to Job T629 is closest to: Multiple Choice $1,620 $780 O $1,200 50 200 O $420 80,000 $ 312,000 $ 2.10 K
mcqs: 1) Spang Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 20,000 Total fixed manufacturing overhead cost $ 176,000 Variable manufacturing overhead per machine-hour $ 2.20 Recently, Job P505 was completed with the following characteristics: Total machine-hours 200 Direct materials $ 540 Direct labor cost $ 7,200 The total job cost for Job P505 is closest to: A $7,740 B $2,740 C $9,940 D $9,400