Required:What is the cost per unit of Job Order 01 if the rework costs wereattributable to the exacting specification of Job Order 01?1.2.What is the cost per unit of Job Order 01 if the rework costs wereattributable to internal failure? Problem 8: Rework CostFor the year ended December 31, 2030, Jane Inc. incurred the following costson Job Order 01 for manufacturing of 1,000 units:Original cost accumulation:Direct materials1,000,000800,000200,000Direct laborFactory overheadDirect costs of reworking 100 units:Direct materials200,000400,000Direct labor

If rework cost is incurred to meet the specification of product / job , then it is included in the…

Answered: For the year ended December 31, 2030,…

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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Question No.7 Lyon Corporation has identified the following overhead costs and activity drivers for next year: Overhead Items Expected Costs Activity Drivers Expected Qty. Set-up costs Ordering costs Maintenance Power Rs.150,000 40,000 200,000 20,000 Number of set-ups Number of orders Machine hours Kilowatt hours 1,000 10,000 16,000 100,000 The following are two of the jobs completed during the year: Job XX Job YY Direct materials Rs.2,250 Rs.2,500 Direct labor Rs.3,000 Rs.1875 Units complete 375 300 Direct labor hours 90 110 Number of set-ups 6 8 Number of orders 8…
The total manufacturing costs associated with Job 4567 should be? a. ₱ 800,000 b. ₱ 1,440,000 c. ₱ 1,080,000 d. ₱ 1,560,000 e. ₱ 1,920,000 f. ₱ 1,560,000
Question 5
QUESTION 1 Senangin Corporation uses a job-order costing system and applies overhead on the basis of direct labor hours. At the beginning of the year, management estimated that 125,000 direct labor hours would be worked and RM450,000 of manufacturing overhead costs would be incurred. During the year, the company actually worked 130,000 direct labor hours and incurred the following manufacturing costs: RM Direct materials used in production 380,000 Direct labor 400,000 Indirect labor 95,000 Indirect materials 67,500 Insurance (30% for factory assets) 30,000 Utilities (60% used for production) 42,000 Repairs and maintenance (100% for factory assets) 25,000 Depreciation on machine used in production 105,000 Depreciation on fixed assets in corporate block 78,000 Required: a) Calculate the predetermined overhead rate for the year. b) Determine the amount of manufacturing overhead applied to work in process during the year.
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services XYZ industries applies overhead based on direct labor cost. The following information was available for the last year: Actual manufacturing overhead OMR50,000; Underapplied manufacturing overhead OMR10,400; Actual Prime cost OMR52,000; Actual Direct material cost OMR19,000; Estimated direct labor cost OMR41,000 overhead for the year? What was the estimated man turi Select one: O a. OMR49,200 O b.OMR39,600 O c. None of the answers given O d. OMR46,800 e OMRS1,600 ge Next page
Question 8?
Assume the following for White Top Inc. for the current fiscal year. White Top applies overhead onthe basis of units produced.Job Machine Hours246 5,200247 4,000Direct labor hours 50,000Average hourly pay rate $16.00Manufacturing overhead $1,400,000Budgeted overhead $350,000Actual overhead $360,000Actual labor hours 22,000Actual number of units sold 650,000Overapplied overhead $ 30,000Budgeted production (units) 700,000Budgeted overhead $200,000Actual overhead $222,000Actual labor hours 15,000Actual number of units sold 43,000Underapplied overhead $ 20,000Budgeted production (units) 50,000Required How many units were produced in the current fiscal year?

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