Assignment/takeAssignmentMain.do?invoker%-Dassignments&takeAssignmentSessionLocator=Dassignment-take&eBookRequired:1. Calculate the activity rates for each of the three overhead activities. Round all activity rates to the nearestMaterials handling rate26.1 per moveEngineering rateper change orderOther overhead rate.per direct labor hour2. Prepare job-order cost sheets for each job showing all costs through uly 31.When required, round your answers to the nearest dollar. If an amount is zero, enter "0"Heitger CompanyJob-Order Cost SheetsJob 13-43Job 13-44Job 13-45Job 13-46Balance, July 1$4Direct materialsDirect labor costMaterials handlingEngineeringOther overheadTotal3. Calculate the balance in Work in Process on July 31.$44. Calculate the cost of goods sold for July.5. What if Job 13-46 required no engineering change orders? What is the difference in the new cost of Job 13-46?How would the cost of the other jobs be affected?%24%2464624 /takeAssignment/takeAssignmentMain.do?invoker=Dassignments&takeAssignmentSessionLocator%3Dassignment-take&inprogress%-false☆ ロeBookJob Costs Using Activity-Based CostingHeitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities andrelated drivers. Budgeted information for the year is as follows:ActivityCostDriverAmount of DriverMaterials handling$110,700 Number of moves4,500Engineering153,900 Number of change orders9,000Other overhead310,000 Direct labor hours50,000Heitger worked on four jobs in July. Data are as follows:Job 13-43Job 13-44Job 13-45Job 13-46Beginning balance$24,900$19,800$2,900$0Direct materials$5,800$9,900$13,200$9,500Direct labor cost$810$1,080$1,560$130Job 13-43Job 13-44Job 13-45Job 13-46Number of moves4548334Number of change orders27402318Direct labor hours8101,0801,560130By July 31, Jobs 13-43 and 13-44 were completed and sold. Jobs 13-45 and 13-46 were still in process.Required:PreviousNext^OEO4) 1:25

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Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling $110,700 Number of moves 4,500 Engineering 153,900 Number of change orders 9,000 Other overhead 310,000 Direct labor hours 50,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job 13-45 Job 13-46 Beginning balance $24,900 $19,800 $2,900 $0 Direct materials $5,800 $9,900 $13,200 $9,500 Direct labor cost $810 $1,080 $1,560 $130 Job 13-43 Job 13-44 Job 13-45 Job 13-46 Number of moves 45 48 33 4 Number of change orders 27 40 23 18 Direct labor hours 810 1,080 1,560 130 By July 31, Jobs 13-43 and 13-44 were completed and sold. Jobs 13-45 and 13-46 were still in process.

Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling $110,700 Number of moves 4,500 Engineering 153,900 Number of change orders 9,000 Other overhead 310,000 Direct labor hours 50,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job 13-45 Job 13-46 Beginning balance $24,900 $19,800 $2,900 $0 Direct materials $5,800 $9,900 $13,200 $9,500 Direct labor cost $810 $1,080 $1,560 $130 Job 13-43 Job 13-44 Job 13-45 Job 13-46 Number of moves 45 48 33 4 Number of change orders 27 40 23 18 Direct labor hours 810 1,080 1,560 130 By July 31, Jobs 13-43 and 13-44 were completed and sold. Jobs 13-45 and 13-46 were still in process.

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Activity Rates and Product Costs using Activity-Based Costing Lonsdale Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Budgeted Activity Activity Cost Activity Base Casting $248,160 Machine hours Assembly 176,850 Direct labor hours Inspecting 28,800 Number of inspections Setup 36,960 Number of setups Materials handling 38,130 Number of loads Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 5,480 4,860 10,340 Direct labor hours 4,720 7,070 11,790 Number of inspections 1,820 580 2,400 Number of setups 190 50 240 Number of loads 730 200 930 Units produced 10,800 5,400 16,200 a. Determine the activity rate for each activity. If required, round the rate to the…
Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling $ 72,000 Number of moves 3,000 Engineering 165,000 Number of change orders 10,000 Other overhead 280,000 Direct labor hours 50,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job 13-45 Job 13-46 Beginning balance $20,300 $19,800 $2,300 $0 Direct materials $6,500 $8,900 $12,700 $9,800 Direct labor cost $18,000 $20,000 $32,000 $2,400 Job 13-43 Job 13-44 Job 13-45 Job 13-46 Number of moves 44 52 29 5 Number of change orders 30 40 20 20 Direct labor hours 900 1,000 1,600 120 By July 31, Jobs 13-43 and 13-44 were completed and sold. Jobs 13-45 and 13-46 were still in process.…
Activity Rates and Product Costs using Activity-Based Costing Lonsdale Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Activity BudgetedActivity Cost Activity Base Casting $338,910 Machine hours Assembly 163,940 Direct labor hours Inspecting 27,500 Number of inspections Setup 34,250 Number of setups Materials handling 38,400 Number of loads Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 5,440 4,830 10,270 Direct labor hours 4,680 7,030 11,710 Number of inspections 1,900 600 2,500 Number of setups 200 50 250 Number of loads 760 200 960 Units produced 10,800 5,400 16,200 a.…
Activity Rates and Product Costs using Activity-Based Costing Lonsdale Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Activity BudgetedActivity Cost Activity Base Casting $570,000 Machine hours Assembly 80,000 Direct labor hours Inspecting 42,000 Number of inspections Setup 38,000 Number of setups Materials handling 23,750 Number of loads Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 6,000 13,000 19,000 Direct labor hours 3,000 2,000 5,000 Number of inspections 600 400 1,000 Number of setups 300 200 500 Number of loads 450 500 950 Units produced 6,000 3,000 9,000 a.…
Activity Cost Pools, Activity Rates, and Product Costs using Activity-Based Costing Caldwell Home Appliances Inc. is estimating the activity cost associated with producing ovens and refrigerators. The indirect labor can be traced into four separate activity pools, based on time records provided by the employees. The budgeted activity cost and activity-base formation are provided as follows: Activity Procurement Scheduling Materials handling Product development Total cost Ovens Refrigerators Totals Activity Pool Cost $12,600 90,000 11,000 50,000 $163,600 The estimated activity-base usage and unit information for two product lines was determined as follows: Ovens Refrigerators Number of purchase orders Number of production orders Number of moves Number of engineering changes Number of Purchase Orders 400 300 700 Procurement (per purchase order) Scheduling (per production order) Materials handling (per move) Product development (per engineering change order) Activity Base Number of…
Comparing ABC and Plantwide Overhead Cost Assignments Wellington Chocolate Company uses activity-based costing (ABC). The controller identified two activities and their budgeted costs: Setting up equipment $432,000 Other overhead $1,440,000 Setting up equipment is based on setup hours, and other overhead is based on oven hours.Wellington produces two products, Fudge and Cookies. Information on each product is as follows: Fudge Cookies Units produced 8,000 445,000 Setup hours 6,400 1,600 Oven hours 1,600 8,000 Required: 1. Calculate the activity rate for (a) setting up equipment and (b) other overhead. a. Setting up equipment $ per setup hour b. Other overhead $ per oven hour 2. How much total overhead is assigned to Fudge using ABC?$ 3. What is the unit overhead assigned to Fudge using ABC? Round to the nearest cent.$per unit 4. Now, ignoring the ABC results, calculate the plantwide overhead rate, based on oven hours.$ per oven…
A company uses a job costing system and applies overhead to jobs using a predetermined overhead rate based on direct labor-hours. The company had the following inventories at the beginning and end of March: March 1 Direct Materials $30,000 Work in Process $12,000 Finished Goods $54,000 The following additional data pertain to operations during March: Direct materials purchased Direct labor cost Direct labor rate Overhead rate March 31 $36,000 $18,000 $72,000 Choose... $ 84,000 $ 60,000 $7.5 per direct labor hour $10 per direct labor hour The Cost of Goods Manufactured for March was:
Indirect Cost Allocation: Direct Method Sprint Manufacturing Company has two production departments, Melting and Molding. Direct general plant management and plant security costs benefit both production departments. Sprint allocates general plant management costs on the basis of the number of production employees and plant security costs on the basis of space occupied by the production departments. In November, the following overhead costs were recorded: Melting Department overhead $110,000 Molding Department overhead 400,000 General plant management 100,000 Plant security 50,000 Other pertinent data follow: Melting Molding Number of employees 35 40 Space occupied (square feet) 10,000 20,000 Machine hours 10,000 2,000 Direct labor hours 4,000 20,000 a. Prepare a schedule allocating general plant management costs and plant security costs to the Meltingand Molding Departments. Department Total Melting…
Activity Base Entry Dining Total Machine hours 5,320 4,710 10,030 Direct labor hours 4,570 6,860 11,430 Number of inspections 1,940 610 2,550 Number of setups 310 70 380 Number of loads 700 190 890 Units produced 10,600 5,300 15,900 a. Determine the activity rate for each activity. If required, round the rate to the nearest dollar. Activity Activity Rate Casting per machine hour Assembly per direct labor hour Inspecting 24 per inspection Setup per setup Materials handling per load b. Use the activity rates in (a) to determine the total and per-unit activity costs associated with each product. Round the per unit amounts to the nearest cent. Product Total Activity Cost Activity Cost Per Unit Entry Lighting Fixtures Dining Room Lighting Fixtures
?Refer to CASE 2 (Company B), What is the expected Product Margin of product Z if activity-based costing is used None of the amounts given .a O $101,250 b O $62,000 .c O $23,000 .d O
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Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,810 and Job 94 with a beginning balance of $7,320. Jagjit applies overhead at the rate of $10 per direct labor hour. Direct labor wages average $16 per hour. Data on August costs for all jobs are as follows: Job 93 Job 94 Job 95 Job 96 Direct materials $1,000 $4,550 $3,310 $1,300 Direct labor cost 1,600 4,800 2,560 800 During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Required: 1. Calculate the number of direct labor hours that were worked on each job in August. Job 93 fill in the blank fe4a4a013fdefc1_1 DLH Job 94 fill in the blank fe4a4a013fdefc1_2 DLH Job 95 fill in the blank fe4a4a013fdefc1_3 DLH Job 96 fill in the blank fe4a4a013fdefc1_4 DLH 2.…