Job 593 was recently completed. The following data have beenrecorded on its job cost sheet:Direct materialsDirect labor-hoursDirect labor wage rateMachine-hours$2,47473 labor-hours$19 per labor-hour134 machine-hoursThe Corporation applies to manufacture overhead on the basis ofmachine hours. The predetermined overhead rate is $20 permachine hour.The total cost that would be recorded on the job cost sheet for Job593 would be:a. $7,381b. $3,865c. $6,541d. $3,861

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Answered: Job 593 was recently completed. The…

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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Job 493 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $3,190 Direct labor-hours 51 labor-hours Direct labor wage rate $15 per labor-hour Machine-hours 175 machine-hours The company applies manufacturing overhead on the basis of machine hours. The predetermined overhead rate is $15 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 493 would be: $6,580 $3,219 $5,249 $6,880 None of the above Please show your work.
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Mickley Company's plantwide predetermined overhead rate is $21.00 per direct labor-hour and its direct labor wage rate is $14.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $ 290 $ 210 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 70 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.) 1. Total manufacturing cost 2. Unit product cost per unit
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Mickley Company's plantwide predetermined overhead rate is $21.00 per direct labor-hour and its direct labor wage rate is $12.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $ 260 $ 120 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 50 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.) 1. Total manufacturing cost 2. Unit product cost Answer is not complete. 570 per unit
Grange Company has two departments, Stamping and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Stamping Department bases its rate on machine-hours, and the Assembly Department bases its rate on direct labour cost. At the beginning of the year, the company made the following estimates: Department Stamping 40,000 300,000 $2,550,000 $ 360,000 $3,200,000 Assembly 125,000 15,000 $4,000,000 Direct labour-hours Machine-hours Manufacturing overhead cost Direct labour cost Required: 1. Compute the predetermined overhead rate to be used in each department. (Round your stamping department answer to 2 decimal places.) Stamping department Assembly department per machine-hour % Direct labour cost
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At the end of Cavy Company had completed Jobs 766 and 765. The individual job cost sheets reveal the following information: JobDirect Materials Direct Machine Hours Job No. 765 $ 5,670 3,500 Job No. 8,900 4,775 44 Job 765 produced 152 units, and Job 766 consisted of 250 units. Assuming that the predetermined overhead rate is applied by using machine hours at a rate of 200 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
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