+Job 910 was recently completed. The following data have been recorded on its job cost sheet:Direct materials$2,454Direct labor hours71 labor hoursDirect labor wage rate $15 per labor hourMachine hours137 machine hoursThe Corporation applies to manufacture overhead on the basis of machine hours. Thepredetermined overhead rate is $16 per machine hour.The total cost that would be recorded on the job cost sheet for Job 910 would be

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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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The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At the beginning of the yea the Corporation made the following estimates: Direct labor cost Manufacturing overhead Direct labor-hours Machine-hours Dept. A Dept. B $60,000 $40,000 $90,000 $45,000 6,000 9,000 2,000 15,000 What predetermined overhead rates would be used in Dept. A and Dept. B, respectively?
Burns Corporation assigns overhead cost to completed jobs on the basis of 120% of direct labor costs. The job cost sheet for Job 413 shows that $12,000 in direct material has been used on the job and that $8,000 in direct labor has been incurred. A total of 200 units were produced in Job 413. What is the total manufacturing cost assigned to Job 413? What is the unit cost per unit for Job 413? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph V Open Sans,sa... !!! > ✔ V Ix % 0 $1 Q
Calico Corporation produced 2,000 units in Job 903. The following data is provided for Job 903 for the year: Direct materials used $2,300 Direct labor costs $700 Actual manufacturing overhead rate per direct labor hour $17.15 Predetermined manufacturing overhead rate per direct labor hour $18.30 Direct labor hours used in Job 903 35 Direct labor rate per hour $20 What is the total cost of Job 903? $3,000 $3,640.50 $24,500 $3,020
Mason Company has two manufacturing departments-Machining and Assembly. All of the company's manufacturing overhead costs are fixed costs. It provided the following estimates at the beginning of the year as well as the following information for Jobs A and B: Estimated Data Manufacturing overhead Direct labor-hours Machine-hours Job A Direct labor-hours Machine-hours Job B Direct labor-hours Machine-hours Machining $5,054,000 19,000 266,000 Machining Assembly 5 10 11 2 Machining 4 12 Assembly 5 3 Assembly $361,000 266,000 14,000 Total 15 13 Total 9 15 Total $5,415,000 285,000 280,000 Required: 1. If Mason Company uses a plantwide predetermined overhead rate with direct labor-hours as the allocation base, how much manufacturing overhead cost would be applied to Job A? Job B? 2. Assume Mason Company uses departmental predetermined overhead rates. The Machining Department is allocated based on machine-hours and the Assembly Department is allocated based on direct labor-hours. How much…
Job 434 was recently completed. The following data have been recorded on its job costsheet:The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $12 per machine-hour. Direct Materials 45,000 Direct Labor Hours 630 Direct Labor Wage Rate 13/labor hour Machine Hours 390 Number of Units Completed 3,000 units Required: Compute the unit product cost that would appear on the job cost sheet for this job.
Munoz Corporation produced 215,000 watches that it sold for $18 each during year 2. The company determined that fixed manufacturing cost per unit was $9 per watch. The company reported a $645,000 gross margin on its year 2 financial statements. Required Determine the variable cost per unit, the total variable cost, and the total contribution margin. Variable cost per unit Total variable cost Total contribution margin $ $ $ 1,290,000 1,935,000
Mickley Company's plantwide predetermined overhead rate is $21.00 per direct labor-hour and its direct labor wage rate is $11.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $280 $165 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 40 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
Martin Manufacturing assigns overhead to jobs based on machine hours. At the beginning of the current year, estimated overhead costs were $200,000 and estimated machine hours were 40,000. During the year, 140 machine hours were used on Job 88. By the end of the year, actual overhead costs were calculated to be $202,500 and actual machine hours were 45,000.How much overhead was applied to Job 88 during the year?
At the beginning of the year, a company estimated a predetermined plantwide overhead rate of $8.50 per machine - hour. Job X used 16 machine-hours and it was charged $200 and $288 for direct materials and direct labor, respectively. What is the total job cost for Job X? A. $446 B. $136 C. $624 D. $488
Jasper Carts manufactures custom carts for a variety of uses. The following data have been recorded for Job 651, which was recently completed. Direct materials used cost $7,700. There were 178 direct labor hours worked on this job at a direct labor wage rate of $22 per hour. There were 90 machine hours used on this job. The predetermined overhead rate is $32 per machine hour used. What is the total manufacturing cost of Job 651?
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Mackey Company's plantwide predetermined overhead rate is $25.00 per DLH and its direct labor wage is $21.00 per hour. For Job N, Direct materials is $1,000 and Direct labor is $420. a. What is the total manufacturing cost assigned to Job N? b. If Job N consists of 60 units, what is the unit product cost for this job?

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