Hours Process Job 301 Job 302 Job 303 Improvement Couro 23 14 d Clancy 2 14 17 14 Cano 13 17 10
Q: XYZ Equipment In. receives order from Shiraz Consultant Clinic on 15th August. The company started…
A:
Q: Koehler (see Exercise E19-15 ) makes handheld calculators in two models- basic and professional-and…
A: The departmental overhead rate is calculated as departmental overhead Costs divided by estimated…
Q: Which of the following choices represents the highest and lowest respective coordinates of activity…
A: High-low method is one of the techniques that is used to separate fixed and variable components from…
Q: Boswell Company manufactures two products, Regular and Supreme. Boswell's overhead costs consist of…
A: Over applied to supreme using Activity based costing. Overhead relating to machining allocated based…
Q: The following account appears in the ledger prior to recognizing the jobs completed in January: Work…
A: GIVEN The following account appears in the ledger prior to recognizing the jobs completed in…
Q: Exercise 11-6A (Algo) Recording overhead costs in T-accounts LO 11-2 Fanning Company and Finch…
A: The overhead is applied to the production on the basis of the pre-determined overhead rate. The…
Q: learning resource from Cengage Lea Equivalent Units f Materials Cost The Rolling Department of Kraus…
A: Introduction: The work-in-process stock just at end of the accounting period is equivalent to units…
Q: Sheridan Company uses a job order cost system and applies overhead to production on the basis of…
A: Predetermined overhead rate is the one which is computed at the beginning of a period in order to…
Q: Use Table 2 to answer this question. XYZ Corporation has provided the following data from its…
A: Activity rate = Total costs / Total activity Assembly = 1114920/57000 = $19.56 Processing orders =…
Q: Chapters Beginning WIP Direct materials Direct labor Applied overhead The Work in Process Inventory…
A: In manufacturing process, goods from various stages transfers to another stages. In this process…
Q: Identify each of the following production features as applying more to job order operations, to…
A: In job order operations, the production process is characterized by the creation of unique or…
Q: cision: Job Processing Time Employee 1 2 4 Total
A: Subract Minimum Element of each row from respecting row.The Resulting matrix is matrix after Row…
Q: [The following information applies to the questions displayed below.] Marco Company shows the…
A: The total cost of job is calculated as follows: Total cost = beginning WIP cost + direct materials…
Q: Entry for factory labor costsA summary of the time tickets for the current month follows Job No.…
A: Job No. Amount 100 $3,500 101 6,650 104 21,900 108 14,440 111 8,620 115 2,760 117…
Q: B AliExpress... https://ww... Ch. 15 IT (Interactive Tutorial) Question 5 of 13 Current Attempt in…
A: The objective of the question is to prepare two summary entries to record the assignment of costs to…
Q: The following information has been gathered for the Harrell Manufacturing Company for its fiscal…
A: The following calculations are done to compute the estimated overhead rate.
Q: Use Table 2 to answer this question. XYZ Corporation has provided the following data from its…
A: Activity rate = Total costs / Total activity Assembly = 1114920/57000 = $19.56 Processing orders =…
Q: Aug. 1 31 31 31 Balance Direct materials Direct labor Factory overhead Aug. 1-31 Costs incurred HI…
A: Cost of goods finished :— It is the total cost of completed finished goods transferred from work in…
Q: Zoe Corporation has the following information for the month of March. Cost of materials used in…
A: GIVEN Cost of direct materials used in production $16,958 Direct labor $27,539 Factory overhead…
Q: Enos Printing Corp. uses a job order cost system. The following data summarize the operations…
A: Journal entries are:
Q: Mickley Company's plantwide predetermined overhead rate is $14.00 per direct labor-hour and its…
A: Manufacturing cost is the cost of making of the goods. It is the cost which involved the cost of…
Q: Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost, Unit Cost On August 1,…
A: Since there are multi sub-parts questions, we will solve first three for you. To get the remaining…
Q: The weekly time tickets indicate the following distribution of labor hours for three direct labor…
A: Indirect labor (Factory O/H)=Process improvement×Rate=5×$24+3×$19+6×$22=$309
Q: Categories of Work Hours Number of Hours Direct hours 3,108 Indirect hours 928 Nonproductive hours…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Job Number 10 11 12 13 14 (a) April May $4,860 $4,220 3,840 3,680 1,100 Your answer is incorrect.…
A: Inventory includes all the items, merchandise, and raw materials that are used by the business…
Q: Required: 1. & 2 Using ABC, compute the firm's activity overhead rates. Form activity cost pools…
A: Activities Expected cost cost driver total activities activity rate = expected cost / total…
Q: Managers at X company think machine hours is the best activity base for manufacturing overhead. The…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: [The following information applies to the questions displayed below.] Delph Company uses a job-order…
A: The plant wide predetermined overhead rate is computed by dividing the total overhead by the…
Q: P11.50 P 57.50 P 57.50 P 17.00 P 8.50 P 17.50 b. с. d. Sensual Scents, Inc. uses a job-order cost…
A: Overhead: It refers to the expense that relates to an ongoing business and is centrally incurred by…
Q: During the period, labor costs incurred on account amounted to $175,000, including $150,000 for…
A: Answer - The manufacturing overhead cost applied to the job is debited to work in process account.…
Q: X Company reported the following year- end information: Beginning Raw Materials Inventory S70,000…
A: Raw Material Cost = Beginning Raw Material Inventory + Raw Material Purchases - Ending Raw Material…
Q: Layout Formulas Data Review View Calibri 11 2Wrap Text Paste BIU EEBE E Merge & C Clipboard Font…
A: 1. Record journal entries to record as shown below: a. Entry for requisition of materials during…
Q: Bergo Bay's accounting system generated the following account balances on December 31. The company’s…
A: Factory overhead is applied on the basis of predetermined overhead rate . At the end of year when…
Q: ompute the ending balance of the Work-in-Process Inventory account for July. Job X14…
A: Ending inventory in WIP represents that the inventory remained at the end of the period in the…
Q: Job No. 92 Date Beg. bal. Jan. 1 8 12 25 27 Cost of completed job: Direct materials Direct labor…
A: Work in process inventory : The process of accounting for work-in-process (WIP) inventory requires…
Q: purchases $94,00 erials as direct ma purchase of raw
A: Answer : Raw material purchase = $94000 Indirect material = $25000 Direct material =$62,400
Q: Bergo Bay's accounting system generated the following account balances on December 31. The company’s…
A: Journal entries for the above cost.
Q: Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system.…
A: Item Amount Rate per hour Direct labor hour Job 201 $4,420 $14 315.71 Job 202 2,210 14 157.86…
Q: To manufacture job No. 108, X company incurred $95,000 of factory labor, of which $3,000 were…
A: We shall answer the first question since the exact one wasn't specified. Please resubmit a new…
Q: Month Labour Hours (X) Overhead Costs (Y) Jan 200 $416 Feb 173 $387 Mar 289 $520 Apr 302…
A: Highest and lowest respective coordinates of activity level will be labour hours and corresponding…
Q: 1. What is the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal…
A: Predetermined overhead rate A rate of overhead which is used to allocate the production overheads to…
Q: If, at the end of the year, Manufacturing Overhead has been over applied, it means that:
A: Note: When a Question contains multiple questions one question will be answered as per company…
Q: cussions Question 6 -/1 ferences View Policies laborations Current Attempt in Progress ileyPLUS…
A: The correct answer is $4,060.
Q: Current information for the Healey Company follows: Beginning raw materials inventory Raw material…
A: Cost of goods manufactured includes the total cost of goods that are finished during the period.…
Q: 1. Journalize the entries to record the transactions indentified below. 2. Determine the account…
A: Particulars Amount Debit($) Amount Credit($) Purchases 60,000 Creditors 60,000 (To…
Q: Data for the year just ended: Estimated total manufacturing overhead cost Estimated total direct…
A: The statement of cost of goods manufactured represents the cost of goods that are finished during…
Step by step
Solved in 2 steps
- Manufacturing overhead applied $ 150,000 Actual amount of manufacturing overhead costs 120,000 Amount of overhead applied during the year that is in: Work in Process $ 37,500 25% Finished Goods 52,500 35% Cost of Goods Sold 60,000 40% Total overhead applied $ 150,000 100% Knowledge Check 01 If the Manufacturing Overhead account is closed to Cost of Goods Sold, the related entry will ________. multiple choice 1 decrease the cost of goods sold by $30,000 increase the cost of goods sold by $30,000 decrease the cost of goods sold by $150,000 increase the cost of goods sold by $150,000 Knowledge Check 02 If the Manufacturing Overhead account is closed proportionally to Work in Process, Finished Goods, and Cost of Goods Sold, the related entry will include a ________. multiple choice 2 debit to Cost of Goods Sold for $12,000 credit to Cost of Goods Sold for $12,000 credit to Cost of Goods Sold for $30,000 debit to Work in…QUESTION 2 Five jobs are to be processed through a single machine. The processing times and due dates are given here. Job 3 4 Processing 3 4. 2 Time Due Date 4. 8 12 21 15 Assume that the following precedence relationships must be satisfied: 1→4 and 2 3. Determine the sequence in which these jobs should be done in order to minimize the maximum lateness subject to the precedence restrictions. Job sequence: 1Problem 19-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 32,200 Direct labor used (in March) Overhead applied (March) 23,200 13,200 $ 38,200 21,200 12,200 Costs during April Direct labor used Overhead applied Direct materials used 143,000 Status on April 30 88,200 ? Finished (sold) 228,000 $ 108,000 158,000 ? 113,000 7 Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $83,200. b. Raw materials purchases in April are $508,000, and total factory payroll cost in April is $371,000. c. Actual overhead costs incurred in April are indirect materials, $52,000; indirect labor, $25,000; factory rent, $34,000; factory utilities, $21,000; and factory…
- Labor Direct-labor hours: Job 57 Job 58 Job 59 Labor costs: Direct-labor wages Indrect-labor wages Supervisory salaries Material Inventories, November 1. Raw material and supplies Work in process (Job 57) Finished goods Purchases of raw material and supplies Raw material Chapter 3 Product Costing and Cost Accumulation in a batoh Produc... Supplies (Indirect material) Direct material and supplies requisitioned for production Job 57 Job 58 Job 59 Supplies (indirect material) Total Other Building occupancy costs (heat, light, depreciation, etc.) Factory facilities Sales offices. Administrative offices Total Production equipment costs: Power Com Repairs and maintenance Depreciation Other Total Direct-Labor Hours 100.000 115.000 130,000 111 During November the following jobs were completed: Job 57 Job 58 Variable $300,000 345,000 390,000 7,000 6,000 4,000 $408.000 30,000 12.000 $ 21,000 108,000 125,000 Required Assist Shar by making the following calculations. 1. Calculate the predetermined…Applying Excel 13: Predetermined Overhead Rate ✓ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 A B Raw Materials Inventory 57,500 5,700 43,000 Finished Goods Inventory 216,000 Factory Overhead 14,800 61,000 52,300 6,000 Multiple Choice с =+C17/F11 =+C17/(SUM(B17:B19)) =+E5/E3 37,000 14.800 173,000 =+E5/E4 122,100 D E Assuming the company applies overhead as a percentage of direct labor cost, which formula accurately computes the predetermined overhead rate? Work in Process Inventory 37,000 216,000 111.000 122,100 54,100 Factory Wages Payable 172,000 0 111.000 ......... 61,000Indicator ' A 16 17 18 19 20 (1) $126,000 105,000 84,000 $200,000 D (2) $150,000 128,000 22,000 $138,000 E 1 2 Required: 3 Determine the missing amount for each separate situation involving work in process cost flows. 4 5 6 Total manufacturing costs 7 Work in process inventory, beginning 8 Work in process inventory, ending 9 Cost of goods manufactured 10 11 12 13 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. 14 Nothing in this area will be graded, but it will be submitted with your assignment. 15 (3) $217,000 32,000 185,000 $237,000 F G H 1 J
- eBookHintReferences Item2 Exercise 2-8 (Algo) Applying Overhead Cost; Computing Unit Product Cost [LO2-2, LO2-3] Newhard Company assigns overhead cost to jobs on the basis of 114% of direct labor cost. The job cost sheet for Job 313 includes $9,602 in direct materials cost and $10,700 in direct labor cost. A total of 1,250 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313? Brewer 9e Rechecks 2021-09-291 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Raw Materials Inventory 57,500 5,700 37,000 14,800 Finished Goods Inventory 216,000 43,000 173,000 Factory Overhead 14,800 61,000 52,300 6,000 Which formula solves for the amount of direct materials? 122,100 Work in Process Inventory 37,000 216,000 111,000 122,100 54,100 Factory Wages Payable 172,000 0 111,000 61,000Department Personnel Custodial Services Maintenance Printing Binding 1otat Lacor- square reet oт Number Oт маспале Uirect Labor- Hours Space Occupied Employees Hours Hours 16,700 12,200 20 8,300 3,200 47 14,300. 10,300 66 30,300 40,200 109 162,000 15,000 103,000 20,600 304 50,000 76,000 172,600 86,500 546 212,000 91,000 Budgeted overhead costs in each department for the current year are shown below: Personnel Custodial Services Maintenance Printing $340,000 65,800 93,000 414,000 Binding Total budgeted cost 165,000 $ 1,077,800 Because of its simplicity, the company has always used the direct method to allocate service department costs to the two operating departments. Required: 1. Using the step-down method, allocate the service department costs to the consuming departments. Then compute predetermined overhead rates in the two operating departments. Use machine-hours as the allocation base in the Printing Department and direct labor-hours as the allocation base in the Binding…
- Mercer Asbestos Removal Company removes potentially toxic asbestos insulation from buildings. There has been a long-simmering dispute between the company's estimator and the work supervisors. The on-site supervisors claim the estimators do not adequately distinguish between routine work, such as removing asbestos insulation around heating pipes in older homes, and nonroutine work. such as removing asbestos-contaminated ceiling plaster in industrial buildings. The on-site supervisors believe nonroutine work is for more expensive than routine work and should bear higher customer charges. The estimator sums up his position in this way: "My job is to measure the area to be cleared of asbestos. As directed by top management, I simply multiply the square footage by $3.20 to determine the bid price. Because our average cost is only $2.805 per square foot, that leaves enough cushion to take care of the additional costs of nonroutine work. Besides, it is difficult to know what is routine or not…CH 19 Q10 Entry for Factory Labor Costs A summary of the time tickets for the current month follows: Job No. Amount 100 $3,780 101 3,140 104 5,750 108 6,460 Indirect labor 20,150 111 3,940 115 2,580 117 17,510 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.Exercise 5-18 Balance of Work in Process and Finished Goods, Cost of Goods Sold Hung Lee Company uses job-order costing. At the end of the month, the following information was gathered: Job Total Cost Complete? Sold? 301 $ 610 Yes No 302 1,300 Yes Yes 303 460 No No 304 2,670 Yes No 305 3,800 Yes No 306 230 No No 307 300 Yes Yes 308 650 No No 309 1,035 No No 310 217 No No The beginning balance of Finished Goods was zero. Required: 1. Calculate the balance in Work in Process at the end of the month. 2. Calculate the balance in Finished Goods at the end of the month. 3. Calculate Cost of Goods Sold for the month.
