Oriole's Lawn Services provides custom landscaping for homes and businesses and uses job order costing to capturethe cost of its landscaping jobs. There are no jobs in process at the beginning of May. Listed below are data concerningthe three landscaping jobs conducted during May.Direct materialsLandscaper labor costsLandscaper hours(a)Southside Oceanview$5,100$7,000$4,884$6,600100Determine the cost of each job.Cost $Overhead costs are applied to jobs on the basis of landscaper hours, and the predetermined overhead rate is $56 perlandscaper hour. The Southside job is the only incomplete job at the end of May. Actual overhead for the month was$15,150.Save for Later74SouthsideRocky Heights$6,620$6,006tA91OceanviewRocky HeightsAttempts: 0 of 1 used Submit Answer

The objective of the question is to determine the cost of each landscaping job conducted by Oriole's…

Answered: Oriole's Lawn Services provides custom…

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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! Required information [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Direct materials: Direct labor Overhead applied Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,600; direct labor, $3,400; and applied overhead, $2,500. Job 5 was finished in June. b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. Job 5 $ 18, 200 11, 200 5,600 Job 6 $ 34,600 17,400 8,700 Total transferred cost Job 7 $ 28,600 24, 200 12,100 4. What is the total cost transferred to Finished Goods Inventory in June?
Ottoson Fencing Inc. uses job order costing. The following data summarize the operations related to production for December, the first month of operations: a. Materials purchased on account, $50,000. b. Materials requisitioned and factory labor used: Job 301 302 303 304 305 306 For general factory use Job Machine Hours 301 302 303 c. Factory overhead costs incurred on account, $1,800. d. Depreciation of machinery and equipment, $2,700. e. The factory overhead rate is $40 per machine hour. Machine hours used: 304 305 306 Total 30 60 41 63 70 36 Materials Factory Labor $1,850 $2,500 3,150 2,200 1,900 4,230 1,770 1,200 300 7,220 5,350 2,300 6,225 2,900 5,000 1. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $9,000; Job 302, $16,150; Job 303, $12,800. Required: 1. Journalize the entries to record the summarized operations. Record each item (items a-f) as an individual entry on December 31. Record item g as 2 entries. 2. Post the…
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.…
Brooklyn Company produces leather bags for individual or corporates. On December 1, there were three jobs in process with the following costs attached below Questions : If overhead is applied on the basis of electricity consumed, what is the overhead rate? If overhead is applied on the basis of direct material consumed, what is the overhead rate? Please compute the overhead allocated for each job if the basis used is electricity consumed.
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The WildSide Company modifies production motorcycles for superbike racing to customer order. It operates a job costing system. The following information is available for the month of June 20X3: Purchases during June: Direct material $30,000 Direct labour costs incurred during June: 20,400 (i.e. $40 per hour * 510 hours). Manufacturing overhead is applied based on a rate $1.5 per direct labour dollar. Other costs incurred during June: Manufacturing supplies inventory issued $6.000 Indirect labour cost $3,500 Depreciation of manufacturing equipment $12,000 Electricity-Factory $8,500 Jobs costing $64,500 were sold at the price of $76,400 on credit at the end of June. Required: Complete the T- accounts providing the amounts of a) to p) to show the flow of costs through the company's manufacturing accounts. Raw materials inventory Work in process inventory O/B $30,000 b) O/B $46,250 a) c) d) e) CGM 53,250 f) C/B 71,500 Finished goods inventory Cost of goods sold O/B $34,500 h) i) j) g) C/B…
1. What is the total cost of direct materials requistioned in June? 2. What is the total cost of direct labor used in June? ( please check plagiarism)
Required information [The following information applies to the questions displayed below.] Caro Manufacturing has two production departments, Machining and Assembly, and two service departments, Maintenance and Cafeteria. Direct costs for each department and the proportion of service costs used by the various departments for the month of August follow: Department Machining Assembly Maintenance Cafeteria Job CM-22: Direct Costs $92,000 62,400 38,800 31,000 Job CM-23: Proportion of Services Used by Maintenance. Cafeteria Machining Machine-hours Labor-hours. Machine-hours. Labor-hours 0.8 Assume that both Machining and Assembly work on just two jobs during the month of August: CM-22 and CM-23. Costs are allocated to jobs based on machine-hours in Machining and labor-hours in Assembly. The number of labor- and machine-hours worked in each department are as follows: Machining 300 50 30 20 0.2 Assembly 40 36 20 150 Prev 0.6 0.1 S Assembly 0.2 0.1 2 of 13 HH Next
A manufacturer’s job cost sheet reports direct materials of $1,200 and direct labor of $250 for printing 200 T-shirts for a bikers’ reunion. Estimated overhead is computed as 140% of direct labor costs. 1. What is the estimated overhead cost for this job? 2. What is the total cost per T-shirt for this job? 3. What journal entry does the manufacturer make upon completion of this job to transfer costs from work in process to finished goods?
Entries for Direct Labor and Factory Overhead Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows: Job 11-101 $6,240 Job 11-102 9,000 Job 11-103 7,210 Job 11-104 6,750 Factory supervision 4,000 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $18 per direct labor hour. The direct labor rate is $40 per hour. a. Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
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