"Blast It!" sald David Wilson, president of Teledex Company. "We've Just lost the bid on the Koopers job by $2,000. It seems we'reeither too high to get the job or too low to make any money on half the jobs we bid."Teledex Company manufactures products to customers' specifications and uses a job-order costing system. The company uses aplantwide predetermined overhead rate based on direct labor cost to apply Its manufacturing overhead (assumed to be all fixed) toJobs. The following estimates were made at the beginning of the year.DepartmentFabricating Machining$ 358,750 $ 410,e00$ 205,000AssemblyTotal PlantManufacturing overhead92,250$ 307,500861, eee615, e00Direct labor$ 102,500Jobs require varying amounts of work in the three departments. The Koopers job, for example, would have required manufacturingcosts in the three departments as follows:Fabricating$ 3,500$ 3,800DepartmentMachining$ 200$ 5eeAssembly$ 1,900$ 6,700Total Plant$ 5,600$11,000Direct materialsDirect laborManufacturing overheadRequlred:1. Using the company's plantwide approach:a. Compute the plantwide predetermined rate for the current year.b. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers Job.2. Suppose that Instead of using a plantwide predetermined overhead rate, the company had used departmental predeterminedoverhead rates based on direct labor cost. Under these conditions:a. Compute the predetermined overhead rate for each department for the current year.b. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers Job.4. Assume that It is customary in the Industry to bid jobs at 150% of total manufacturing cost (direct materlals, direct labor, and appliedoverhead).a. What was the company's bid price on the Koopers job using a plantwide predetermined overhead rate?b. What would the bid price have been if departmental predetermined overhead rates had been used to apply overhead cost?Complete this question by entering your answers in the tabs below.Required 1ARequired 18Required 2ARequired 28Required 4ARequired 48Using the company's plantwide approach, compute the plantwide predetermined rate for the current year.Predetermined overhead rate% of direct labor cost "Blast it!" sald David Wilson, president of Teledex Company. "We've Just lost the bid on the Koopers Job by $2,000. It seems we'reeither too high to get the job or too low to make any money on half the Jobs we bid."Teledex Company manufactures products to customers' specifications and uses a job-order costing system. The company uses aplantwide predetermined overhead rate based on direct labor cost to apply Its manufacturing overhead (assumed to be all fixed) toJobs. The following estimates were made at the beginning of the year.DepartmentFabricating MachiningAssembly92,250Total Plant$ 358,750$ 205,000Manufacturing overheadDirect labor$ 410,e00%24$ 182,500861, e00615, e00$ 307,500Jobs requlre varylng amounts of work In the three departments. The Koopers Job, for example, would have requlred manufacturingcosts In the three departments as follows:Fabricating$ 3,500$ 3,800DepartmentMachining$ 200$ 5e0Assembly$1,900$ 6,700Total Plant$ 5,600$11,000Direct materialsDirect laborManufacturing overheadRequlred:1. Using the company's plantwide approach:a. Compute the plantwide predetermined rate for the current year.b. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers Job.2. Suppose that Instead of using a plantwide predetermined overhead rate, the company had used departmental predeterminedoverhead rates based on direct labor cost. Under these conditions:a. Compute the predetermined overhead rate for each department for the current year.b. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers Job.4. Assume that It is customary In the Industry to bid jobs at 150% of total manufacturing cost (direct materlals, direct labor, and appliedoverhead).a. What was the company's bid price on the Koopers job using a plantwide predetermined overhead rate?b. What would the bid price have been if departmental predetermined overhead rates had been used to apply overhead cost?Complete this question by entering your answers in the tabs below.Required 1A Required 18 Required 2ARequired 28 Required 4ARequired 48Using the company's plantwide approach, determine the amount of manufacturing overhead cost that would have beenapplied to the Koopers job.Manufacturing overhead cost applied

:1a) predetermined overhead rate total manufacturing cost/total direct labor 861,000/615,000…

Answered: e beginning of the year. Department…

e beginning of the year. Department Machining $ 410, eee $ $ 182,500 $ 307,500 $ 615, e00 Total Plant Assembly 92, 250 $ 861, eee ree departments. The Koopers Job, for exam

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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Sales Supervisor's Salary Cleaning Sales office Direct labor Fire Insurance - Factory Mo Finished goods, 1/1/24 Finished goods, 12/31/24 Selling expense Indirect utilities $ $ $ $ $ $ $ $ a. Calculate total manufacturing costs. 123,450 Custodian wages factory 30,200 B Direct materials inventory, 1/1/24 74,100 E Direct materials inventory, 12/31/24 21,000. Direct materials purchased M 18,000 Sales 14,300 27,000 34,700 b. Calculate cost of goods manufactured. c. Calculate cost of goods sold. d. Calculate net income (or loss). Marketing Costs Work in process, 1/1/24 Work in process, 12/31/24 MU $ $ $ $ $ S $ $ 39,600 16,500 • 13,400 109,000 -> 479,800 50,000 16,300 36,000
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ageNOWv2 | Online teachin X + m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... A € When Job 117 was completed, direct materials totaled $9,518; direct labor, $14,467; and factory overhead, $14,085. A total of 2,115 units were produced at a per-unit cost of Oa. $38,070 Ob. $2,115 Oc. $18 Od. $23.985 8:2 O J i I' C 5/2
Just answer the sub-part d. Thank you!
ator=&inpr... 18 R Print Item Calculating Departmental Overhead Rates and Applying Overhead to Production At the beginning of the year, Glaser Company estimated the following: Assembly Testing Department Department Total Overhead $364,000 $371,280 $735,280 Direct labor hours 157,500 118,125 275,625 Machine hours 50,500 54,540 105,040 Glaser uses departmental overhead rates. In the assembly department, overhead is applied on the basis of direct labor hours. In the testing department, overhead is applied on the basis of machine hours. Actual data for the month of March are as follows: Assembly Testing Department Department Total Overhead $43,680 $44,554 $88,234 Direct labor hours 18,900 14,175 33,075 Machine hours 6,060 6,545 12,605 Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate per direct labor hour Testing department overhead rate per machine hour Check My Work 4…
ll. Subject : - Accounting
202 Chapter 6 17. Gerry's Electronics manufactures mouses for computers. In April, the two próduction departments had budgeted allocation bases of P5,000 machine hours in Department 1 and 2,500 direct manufacturing labor hours in Department 2. The budgeted manufacturing overheads for the month were P23,000 and P25,000, respectively. For Job 100, the actual costs incurred in the two departments were as follows: Department 1 P44,000 13,000 21,000 4,400 3,000 Department 2 P71,000 5,400 21,400 3,600 1,900 1,500 Direct materials purchased on account Direct materials used Direct manufacturing labor Indirect manufacturing labor Indirect materials used Lease on equipment Utilities 6,500 400 500 Job 100 incurred 500 machine hours in Department 1 and 150 manufacturing labor hours in Department 2. The company uses a budgeted departmental overhead rate for applying overhead to production. What is the budgeted manufacturing overhead rate for Department 1? P 4.60 per hour P 5.00 per hour P 9.20 per…
Answer question D
3 ences Complete the following (assume $90,000 of overhead to be distributed): Note: Round the "Ratio" to 2 decimal places. Mc Graw Hill Department A Department B Square Feet -- 10,000 30,000 Ratio < Prev Amount of Overhead Allocated 9 of 10 ⠀ JUL 30 W Next E 4 R *** 6 A 8
Torio.cam/secured#lockdown Manufacturing overhead was estimated to be $489,600 for the year along with 20,400 direct lebor hours. Actual manufacturing overhead was $470,220, and actual labor hours were 21,800. The predetermined manufacturing overhead rate per direct labor hour would be nabled: Exam 1(Ch 1-4)0 Multiple Choice $0.07. $23.05 $24.00. $22.75
Q. 8. Dula Manufacturing Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,200, Work in Process-Cutting $2,900, Work in Process-Assembly S10,600, and Finished Goods $31,000. During July, the following transactions occurred. (a) Purchased $85,200 of raw materials on account. (b) Incurred $60,000 of factory labor. (Credit Wages Payable.) (c) Incurred $60,000 of manufacturing overhead; $34,000 was paid and the remainder is unpaid. (d) Requisitioned materials for Cutting $15,500 and Assembly $9,200. (e) Used factory labor for Cutting $38,000 and Assembly $22,000. (f) Applied overhead at the rate of S16 per machine hour. Machine hours were Cutting 1,870 and Assembly 1,260. (g) Transferred goods costing $87,800 from the Cutting Department to the Assembly Department. (h) Transferred goods costing $120,700 from Assembly to Finished Goods. (i) Sold goods costing $190,000 for $205,000 on account. Instructions Journalize the transactions. (Omit…