dational 15 - Chapter Two iof 15esDirect materialsDirect labor costActual machine-hours used:MoldingFabricationTotalSavedTotal manufacturing costJob P$ 22,000$ 28,200Prev2,6001,5004,1005. What is the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.)5 6 7Job Q$ 12,500$ 11,100Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year.Required:For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmenoverhead rates with machine-hours as the allocation base in both departments.1,7001,8003,500***15 of 15HelpNext >Sa pundational 15 - Chapter Two55 of 15BookrintDashboardencesChatGPT: Optimizing Language Models for D...Direct materials.Direct labor costActual machine-hours used:MoldingFabricationTotalALine following information applies to the questions displayed below.jSweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started,completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predeterminedoverhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours wouldbe required for the period's estimated level of production. Sweeten also estimated $28,600 of fixed manufacturingoverhead cost for the coming period and variable manufacturing overhead of $2.60 per machine-hour.Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing itsplantwide overhead rate with departmental rates that would also be based on machine-hours. The companygathered the following additional information to enable calculating departmental overhead rates:10SavedEstimated total machine-hours usedEstimated total fixed manufacturing overheadEstimated variable manufacturing overhead per machine-hourThe direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows:< PrevJob P$ 22,000$ 28,2005 6 7Monday, March 62,6001,5004,100Comparing Themes, Videos***Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year.15Molding Fabrication2,5001,500$ 12,250$ 2.30$ 16,350$ 3.10Job Q$ 12,500$ 11,1001,7001,8003,500of 15HelpHwwwTotalNext >Question 5 - Foundational 15 - Chapter Two...4,000$ 28,600Save & Exit SubmitCheck my workWriting Assignment #3 (3 questions)Text page 135: #16, Chapter 4 (12 pts.) ANDtv ♫♬SIDZA

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Description: dational 15 - Chapter Two iof 15esDirect materialsDirect labor costActual machine-hours used:MoldingFabricationTotalSavedTotal manufacturing costJob P$ 22,000$ 28,200Prev2,6001,5004,1005. What is the total manufacturing cost assigned to Job Q? (Do n

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Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 22,000 $ 28,200 2,600 1,500 4,100 Total manufacturing cost Job Q $ 12,500 $ 11,100 1,700 1,800 3,500 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the yea Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate wi hours as the allocation base. For questions, 9-15, assume that the company uses predetermined dep overhead rates with machine-hours as the allocation base in both departments. 5. What is the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.)

Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 22,000 $ 28,200 2,600 1,500 4,100 Total manufacturing cost Job Q $ 12,500 $ 11,100 1,700 1,800 3,500 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the yea Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate wi hours as the allocation base. For questions, 9-15, assume that the company uses predetermined dep overhead rates with machine-hours as the allocation base in both departments. 5. What is the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.)

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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Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $1,233,000 900,000 79,900 222,200 40,300 31,100 24,700 106,000 13,600 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $20.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour $2,650,800
Required information [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period $ 41,000 9,800 54,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used. Indirect labor used Other overhead costs End of Period $ 37,000 19,700 35,000 $ 197,000 100,000 10,000 23,000 109,000
Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $953,500 696,000 31,700 88,000 16,000 12,200 Advertising expense 19,100 Administrative office salaries 82,000 Administrative office depreciation expense 10,500 Total costs and expenses $1,909,000 The average shop direct labor rate is $24.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. $ per direct labor hour
O'Leary Corporation manufactures special purpose portable structures (huts, mobile offices, and so on) for use at construction sites. It only builds to order (each unit is bult to customer specifications). O'Leary uses a normal job costing system. Direct labor at O'Leary Iis pald $26 per hour, but the employees are not pald If they are not working on Jobs. Manufacturing overhead Is assigned to Jobs by a predetermined rate on the basis of direct labor-hours. The company Incurred manufacturing overhead costs during two recent years (adjusted for price-level changes using current prices and wage rates) as follows. Skipped Year 1 Year 2 Direct labor-hours worked 68, 800 55,800 Manufacturing overhead costs incurred Indirect labor $2,832,000 1,032,000 Employee benefits Supplies $2,232,000 837,000 558, 000 540, 000 688,000 Power 645, eee Heat and light Supervision Depreciation 141,600 661,650 2,036, 580 s05, 250 141,600 781,470 2,036,500 Property taxes and insurance 787,430 Total…
Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $1,287,800 940,000 50,300 139,800 25,400 19,500 25,800 110,800 14,200 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $20.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour $2,613,600
Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period $ 43,000 9,200 63,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs End of Period $ 57,000 18,600 34,300 $ 183,000 150,000 18,000 34,500 98,500 Exercise 15-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the…
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! Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of period $ 45,000 9,600 68,000 End of Period Inventories Raw materials Work in process Finished goods $ 45,000 19,000 33,500 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. X Answer is not complete. No Transaction General Journal…
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 22,360 $36,120 Manufacturing overhead applied 2,970 1,030 4,000 Job P Job Q $ 13,760 $ 12,900 1,380 1,500 2,880 Job Q Molding 4,300 $ 17,200 $ 1.40 Fabrication 2,580 $25,800 $ 43,000 6,880 $ 2.20 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. Total 11. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not…
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