Direct materials $1400,000 $200,000 Direct manufacturing labor $400,000 $1600,000 Manufacturing overhead $1200,000 $800,000 The actual material and labor costs charged to Job #512 were as follows: Total Direct materials: $50,000 Direct labor: Department X $ 16,000 Department Y $24,000 $40,000 Lux applies manufacturing overhead costs to jobs on the basis of direct manufacturing labor cost using departmental rates determined at the beginning of the year. For Department Y, the manufacturing overhead allocation rate is: Gelect one: a. 200% b. 100% C. 300% مشمس

Direct materials $1400,000 $200,000 Direct manufacturing labor $400,000 $1600,000 Manufacturing overhead $1200,000 $800,000 The actual material and labor costs charged to Job #512 were as follows: Total Direct materials: $50,000 Direct labor: Department X $ 16,000 Department Y $24,000 $40,000 Lux applies manufacturing overhead costs to jobs on the basis of direct manufacturing labor cost using departmental rates determined at the beginning of the year. For Department Y, the manufacturing overhead allocation rate is: Gelect one: a. 200% b. 100% C. 300% مشمس

Name: exam.ptuk.edu.ps/mod/quLux Corporation uses a job cost system and has
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Description: exam.ptuk.edu.ps/mod/quLux Corporation uses a job cost system and has two production departments,X and Y. Budgetedmanufacturing costs for the year are:Department XDepartment YDirect materials$1400,000$200,000Direct manufacturing labor$400,000$1600,0

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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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.

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Question

exam.ptuk.edu.ps/mod/qu
Lux Corporation uses a job cost system and has two production departments,X and Y. Budgeted
manufacturing costs for the year are:
Department X
Department Y
Direct materials
$1400,000
$200,000
Direct manufacturing labor
$400,000
$1600,000
Manufacturing overhead
$1200,000
$800,000
The actual material and labor costs charged to Job #512 were as follows:
Total
Direct materials:
$50,000
Direct labor:
Department X
$ 16,000
Department Y
$24,000
$40,000
Lux applies manufacturing overhead costs to jobs on the basis of direct manufacturing labor cost
using departmental rates determined at the beginning of the year.
For Department Y, the manufacturing overhead allocation rate is:
Select one:
а. 200%
b. 100%
с. 300%
مشمس -
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Facebo... PIUK Lea se Lux Corporation uses a job cost system and has two production departments,X and Y. Budgeted manufacturing costs for the year are: Department X DepartmentY on Direct materials $1400,000 $200,000 Direct manufacturing labor $400,000 $1600,000 Manufacturing overhead $1200,000 $800,000 The actual material and labor costs charged to Job #512 were as follows: Total Direct maternals: $50,000 Direct labor: Department X Department Y s 16,000 $24,000 $40,000 Lux applies manufacturing overhead costs to jobs on the basis of direct manufacturing labor cost using departmental rates determined at the beginning of the year. For Department X, the manufacturing overhead allocation rate is: Select one: a. 300% b. 33% C. 100% d. 66%% 23°C uaio
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