Premium Auto Detailing uses a job materials sheet for each service. Job #567 consumed: washing solution 2.5 liters at $12/liter, wax 0.8 liters at $35/liter, and microfiber cloths $45 total. is total materials cost.
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- Need step by step answerExotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: The average shop direct labor rate is 37.50 per hour. Determine the predetermined shop overhead rate per direct labor hour.eBook Show Me How Predetermined Factory Overhead Rate Turbo Shop uses job order costing to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts $678,200 Shop direct labor 495,000 Shop and repair equipment depreciation 41,000 Shop supervisor salaries 113,900 Shop property taxes 20,700 Shop supplies 15,800 13,600 58,300 7,500 $1,444,000 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $15.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour.
- Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor.Solution step by stepPreparing job order costing journal entries Journalize the following transactions for Marge’s Sofas. Explanations are not required. Incurred and paid Web site expenses, $2,000. incurred manufacturing wages of $15,000, 75% of which was direct labor and 25% of which was indirect labor. Purchased raw materials on account, $24,000. Used in production: direct materials, $7,500; indirect materials, $5,000. Recorded manufacturing overhead: depreciation on plant, $18,000; plant insurance (previously paid), $1,500; plant property tax, $3,900 (credit Property Tax Payable). Allocated manufacturing overhead to jobs, 200% of direct labor costs. Completed production on jobs with costs of $40,000. Sold inventory on account, $22,000; the cost of goods sold, $18,000. Adjusted for overallocated or under-allocated overhead.
- Preparing job order costing journal entries Journalize the following transactions for Marge’s Sofas. Explanations are not required. a. Incurred and paid Web site expenses, $2,000. b. incurred manufacturing wages of $15,000, 75% of which was direct labor and 25% of which was indirect labor. c. Purchased raw materials on account, $24,000. d. Used in production: direct materials, $7,500; indirect materials, $5,000. e. Recorded manufacturing overhead: depreciation on plant, $18,000; plant insurance (previously paid), $1,500; plant property tax, $3,900 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 200% of direct labor costs. g. Completed production on jobs with costs of $40,000. h. Sold inventory on account, $22,000; cost of goods sold, $18,000. i. Adjusted for overallocated or underallocated overhead.Auto Safe's job cost sheet for Job A40 shows that the total cost to add security features to a car was $11,500. The car was delivered to the customer, who paid $16,200 cash for this job. Prepare the journal entries for Job A40 to record (a) its completion and (b) its sale. View transaction list Journal entry worksheet < 1 2 Record transfer of cost of completed job to Finished Goods. Transaction 3 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journalPlease see attached images for question.
- Pratice Problem 2: A company's individual job sheets show these costs: A chart showing costs for Jobs 131, 132, and 133. Direct materials is RO 4585, RO 8723, and RO 1575 respectively. Direct labor is RO2385, RO 2498, and RO 2874, respectively. Overhead is applied at 1.25 times the direct labor cost. You are required to : Prepare an entry to record the assignment of direct materials to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process.es Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Job 33 Job 34 Source documents revealed the following during March: Job 33 Job 34 Job 35 Indirect Balance on 3/1 $ 4,800 3,000 $ 7,800 Materials Requisitions Forms Required 1 $ 2,200 3,800 4,100 600 $ 10,700 The company applies overhead to products at a rate of 75 percent of direct labor cost. Job 33 Job 34 Job 35 Labor Time Tickets $ 4,000 4,100 3,000 1,900 $ 13,000 Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end. Status of Job at Month-End Completed and sold Completed, but not sold In process Complete this question by entering your answers in the tabs below. Required 2 Compute the cost of Jobs 33, 34, and 35 at…Need help on both please