During January, Triple A's employees worked on Job 003. P714 of overhead hadbeen applied to this job. Total manufacturing cost was P6,800 including the totalcost of all other jobs in the amount of P3,981. What amount of direct material isincluded in Job O03?Triple A Company uses a job-order costing system. At the beginning of January, thecompany had two jobs in process with the following costs:Direct LaborP510Direct MaterialOverheadJob 001P255P3,4001,100Job 002289?Triple A pays its workers P8.50 per hour and applies overhead on a direct labor hour basis.677O 1,391O 2,1424,658

In production, the cost that is used in producing a product is called manufacturing cost. These…

Answered: During January, Triple A's employees…

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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At the end of April, Cavy Company had completed Jobs 766 and 765. The individual job cost sheets reveal the following information: Job Direct Materials Direct Labor Machine Hours Job 765 $7,560 $2,268 27 Job 766 12,654 3,996 74 Job 765 produced 162 units, and Job 766 consisted of 222 units. Assuming that the predetermined overhead rate is applied by using machine hours at a rate of $150 per hour. a. Determine the balance on the job cost sheets for each job. Job 765 Job 766 b. Determine the cost per unit at the end of April. Round your answers to the nearest cent. Job 765 Job 766 $1 %24 %24
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April but not sold. Job C was started during April but not completed. The job cost sheets revealed the following costs for April: Cost of Jobs in Process, April 1, Current Year Direct Materials Used Direct Labor Applied Manufacturing Overhead Job A $ 12,200 2,200 10,400 ? a. Work in Process b. Finished Goods c. Cost of Goods Sold Job B $ 1,200 8,400 8,400 ? Job C $0 9,600 3,200 ? Required: If no other jobs were started, completed, or sold, determine the balance in each of the following accounts at the end of April:
Lumos Maxima corporation manufacturers lamps and flashlights. They use a job-order cost system to accumulate their manufacturing costs, and a traditional allocation method for applying manufacturing overhead costs. The predetermined overhead rate is $16.00 per direct labor hour. During the month, White corporation worked on two different jobs. Job W-100 was completed and sold by the end of the month. Job W-200 was unfinished at the end of the period. Job W-100 Job W-200 Beginning Balance $19,400 $29,800 Direct Materials $34,200 $21,100 Direct Labor $36,000 $35,200 Actual Direct Labor Hours 8,200 6,400 What is the beginning balance of work in process at the end of the month? A. $188,500 B. $175,700 C. $220,800 D. $409,300
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Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated Its total manufacturing overhead cost at $237,500 and total machine hours at 62,500. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Direct materials used Direct labor Machine hours Job 1011 $ 11,600 $ 18,000 1,700 hours 1. Predetermined Overhead Rate 2. Total Applied Manufacturing Overhead 3. Ending Work in Process Inventory 4. Gross profit Job 102 $ 8,100 $ 5,700 5-a. Balance 5-b. Is it over- or underapplied? 2,700 hours Job 103 $5,500 $ 5,100 Job 101 was completed and sold for $50,400. Job 102 was completed but not sold. Job 103 is still in process. Actual overhead costs recorded during the first month of operations totaled $19,800. 1,100 hours Total Required: 1. Calculate the predetermined…
A Company uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor cost. The company based its predetermined overhead rate for the current year on total estimated manufacturing overhead cost of 40% of direct labor cost. The job cost sheet of Job 2121 shows that the number of units in this job order is 50 units which incurred total of 90 labor-hours . This job consumed $ 20 / u * n * i * t of direct materials cost and $90/hour of direct labor. What would be the total manufacturing cost for Job 2121 approximately
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Beginning balance Charged to the jobs during October: Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of October Units sold during October Job A256 $ 2,500 $ 3,900 $ 1,450 $ 2,500 100 1. Cost of goods sold for October 2. Finished goods inventory at the end of October 3. Work in process inventory at the end of October 0 80 Job A257 $1,150 $ 4,800 $ 2,300 $ 2,800 0 152 0 Job A258 $0 $ 2,700 $ 1,250 $ 1,550 850 0 170 Job A260 $0 $ 4,800 $ 1,050 $ 1,900 0 122 0 the end of October. There was no Jobs A256 and A258 were completed during October. The other two jobs were incomplete finished goods inventory on October 1. The company's total manufacturing overhead applied equals its total actual manufacturing overhead. Required: 1. What is the cost of…
PAMELA Manufacturing Company uses a job order cost system. The following debits (credits) appeared in Work in Process for the month of August: August 1 P40,500 Charges during August: Direct materials 243,000 Direct labor 162,000 Factory overhead 129,600 Debits to Finished goods 486,000 PAMELA Manufacturing applies overhead to production at a predetermined rate of 80% of direct labor cost Job XXX, which was started during August and is the only job still in process at the end of August, has been charged direct labor of P20,250. The amount of direct materials charged to Job XXX is Enter your answer

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