Job 910 was recently completed. The following data have been recorded on its job cost sheet:Direct materials$$ 3,193Direct labor-hours21 labor-hoursDirect labor wage rate$ 12 per labor-hourMachine-hours166 machine-hoursThe Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $15 per machine-hour. The total cost thatwould be recorded on the job cost sheet for Job 910 would be:Multiple Choice$3,220$3,760$5,935$3,445

Manufacturing overhead = No. of machine hours x Predetermined overhead rate = 166 hours x $15 =…

Answered: Job 910 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 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials. Direct labor-hours Direct labor wage rate Machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $19 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be: Multiple Choice $7,236 $3,793 $3,720 $6,396 Prev $ 2,461 2 of 7 74 labor-hours $ 18 per labor-hour 137 machine-hours Next
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
#3 Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials. Direct labor-hours Direct labor wage rate Machine-hours Multiple Choice O $3.373 The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be: $5,207 $2,450 $6,047 S 71 labor-hours. 13 per labor-hour 131 machine-hours
Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ 2,412 Direct labor-hours 74 labor-hours Direct labor wage rate $ 21 per labor-hour Machine-hours 137 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $22 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be:
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Mickley Company's plantwide predetermined overhead rate is $19.00 per direct labor-hour and its direct labor wage rate is $16.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $ 240 $ 160 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 60 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
Assume that a foreign company using IFRS is owned by a company using U.S. GAAP. Thus, IFRS balances must be converted to U.S. GAAP to prepare consolidated financial statements. Ignore income taxes. Izmir A.S. issued convertible bonds at their face value of 100,000 lira on December 31, 2020. The bonds have a 10-year life with interest of 10 percent payable annually. At the date of issue, the prevailing interest rate for similar debt without a conversion option was 12 percent. Required: a. Prepare journal entries for this compound financial instrument for the year ending December 31, 2020, under (1) IFRS and (2) U.S. GAAP. b. Prepare the entry(ies) that the U.S. parent would make on the December 31, 2020, conversion worksheet to convert IFRS balances to U.S. GAAP.
Mickley Company’s plantwide predetermined overhead rate is $19.00 per direct labor-hour and its direct labor wage rate is $13.00 per hour. The following information pertains to Job A-500: Direct materials $ 280 Direct labor $ 260 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 30 units, what is the unit product cost for this job?
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Job 599 was recently completed. The following data have been recorded on its job cost sheet: Direct Materials 40,610 Direct Labor Hours 1,147 Direct Labor Wage Rate 11/DLH Number of Units Completed 3,100 The company applies manufacturing overhead on the basis of direct labor-hours. The predetermined overhead rate is $20 per direct labor-hour Required: Compute the unit product cost that would appear on the job cost sheet for this job.
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