Job 213 required direct materials costing P20,000 and direct labor costing P5,000 (300 hrs.) Additionally factory overhead of P0.80 per direct labor hour cost is charged to the job. It was discovered that the labor cost shown was 125% of the correct amount due to erroneous overtime premiums. 25. The correct cost of Job 213 ▼ a. P 24,240 b. P 27,200 c. P28,000 d. P 28,000

Job 213 required direct materials costing P20,000 and direct labor costing P5,000 (300 hrs.) Additionally factory overhead of P0.80 per direct labor hour cost is charged to the job. It was discovered that the labor cost shown was 125% of the correct amount due to erroneous overtime premiums. 25. The correct cost of Job 213 ▼ a. P 24,240 b. P 27,200 c. P28,000 d. P 28,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Shire Company's predetermined overhead rate is based on direct labor cost. Management estimates the…

A: The pre-determined overhead rate is calculated as the estimated overhead costs divided by the…

Q: ob number 2288 had the following data: Direct Labor hours used 396 Supplies used $750 Hourly wage…

A: The total cost of job comprises direct materials, direct labor and overhead applied costs. The…

Q: Provide proper solution

A: To determine the under- or overapplied overhead, we'll first calculate the predetermined overhead…

Q: 01 Exercise 7-35 (Static) Prorate Over- or Underapplied Overhead (LO 7-3) Linzee Liners estimates…

A: A journal entry is a record of the a commercial transaction in a company's accounting system.…

Q: None

A: Job Cost Sheet Job 910Direct materials 2454Direct labor (71*15)1065Manufacturing overhead applied…

Q: ne-hours - fixed manufacturing overhead cost ble manufacturing overhead per machine-hour able…

A: In Departmental overhead rates, each department has a different allocation base depending on the…

Q: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable…

A: The pre-determined overhead rate is calculated as the estimated overhead costs divided by the…

Q: Hi expart give answer

A: Step 1: Step 2: Step 3: Step 4:

Q: 9 01:07:52 HAS-71452 Company uses a job-order costing system. Its plantwide predetermined overhead…

A: Total manufacturing costs is the total cost incurred in the manufacturing of product during the…

Q: None

A: Step 1: Introduction to the Job CostingJob costing refers to the accounting that is used to…

Q: 8 Ring of Power Company uses a predetermined overhead rate based on direct labour hours to apply…

A: Predetermined OH rate = Estimated Manufacturing OH / Estimated Direct Labor HoursPredetermined OH…

Q: Give true answer

A: Approach to solving the question:Understanding and Analysis Detailed explanation: To determine the…

Q: Lexington Company's predetermined overhead rate is $3.00 per direct labor hour. Which of the…

A: The amount of overhead that should be applied to work in process is $351.00. This is because the…

Q: The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermin…

A: Job Order Costing Job order costing is a system that takes place when customers order small, unique…

Q: Smith, Inc. uses a predetermined overhead allocation rate of 30% of direct labor costs. In January,…

A: Manufacturing overhead cost is the indirect manufacturing cost which can not be traced or allocated…

Q: Exercise 9 Engineer Co. is submitting a bid for a major job and estimates the following direct labor…

A: TOTAL COSTTotal Cost is the cost which is incurred to manufacture a product.Total Cost Includes Cost…

Q: Exercise 7-35 (Static) Prorate Over- or Underapplied Overhead (LO 7-3) Linzee Liners estimates that…

A: A journal entry is a record of the a commercial transaction in a company's accounting system.…

Q: The following information is from the materials requisitions and time tickets for Job 9 completed by…

A: Job costing is one of the important form of costing being used in business. Under this, all costs…

Q: Exercise 2-6 (Algo) Computing Total Job Costs and Unit Product Costs Using Multiple Predetermined…

A: Direct costs are the expenses that are directly used for the production of goods and services for…

Q: 7 Sour Apple Company applies overhead to jobs on the basis of 150% of direct labour cost. If Job 52…

A: Detailed explanation:Given :Predetermined Manufacturing Overhead Rate is 150% of direct labor…

Concept explainers

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit. Overhead expenses depend upon the nature of the business operations.

Question

Job 213 required direct materials costing P20,000 and direct labor costing P5,000 (300 hrs.)
Additionally factory overhead of P0.80 per direct labor hour cost is charged to the job. It was
discovered that the labor cost shown was 125% of the correct amount due to erroneous overtime
premiums.
25. The correct cost of Job 213
v a. P 24,240
b. P 27,200
c. P28,000
d. P 28,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

omework i Direct materials Direct labor Saved Assembly $ 355 $ 102 Fickel Company has two manufacturing departments-Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $14.00 per direct labor-hour and $10.00 per direct labor-hour, respectively. The company's direct labor wage rate is $17.00 per hour. The following information pertains to Job N-60: Testing & Packaging $31 $34 Help Save & Exit Required: 1. What is the total manufacturing cost assigned to Job N-60? Note: Do not round intermediate calculations. Submit 2. If Job N-60 consists of 10 units, what is its unit product cost? Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Ashvin
Please avoid answers in an image format thank you
None
don't give answer in image format
The costs incurred for Job A are:Total labor and overhead $37,225Total other direct costs $10,775The bid price for the job if the company made a 40 percent profit on the bid price is:
Need answer
None
None
9
Reynolds Manufacturers Inc. has estimated total factory overhead costs of $113,400 and expected direct labor hours of 12,600 for the current fiscal year. If Job 117 incurs 1,180 direct labor hours, Work in Process will be debited and Factory Overhead will be credited for Oa. $10,620 Ob. $113,400 Oc. $56,700 Od. $1,180 日 Previous Next 3:26 PM 曲 53°F Sunny 耳好 a 12/14/2021 2) V.
Please help me to solve this problem