PROBLEM 3-17 Plantwide and Departmental Predetermined Overhead Rates; Overhead ApplicationLO3-1, L03-2Wilmington Company has two manufacturing departments-Assembly and Fabrication. It con-siders all of its manufacturing overhead costs to be fixed costs. The first set of data that is shownbelow is based on estimates from the beginning of the year. The second set of data relates to oneparticular job completed during the year-Job Bravo.3T DANAEstimated DataManufacturing overhead costsDirect labor-hours.Machine-hours.Job BravoDirect labor-hours.Machine-hours.AssemblyFabrication$600,000$800,00050,00030,00020,000 100 100,000artesAssembly113Fabrication36Total$1,400,000480,000120,000Total149Required:psild1.If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, howmuch manufacturing overhead would be applied to Job Bravo?betiups2. If Wilmington uses departmental predetermined overhead rates with direct labor-hours as theallocation base in Assembly and machine-hours as the allocation base in Fabrication, howmuch manufacturing overhead would be applied to Job Bravo?thsalbemoed bluow ind W1203 2001s unsa Istol

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Description: PROBLEM 3-17 Plantwide and Departmental Predetermined Overhead Rates; Overhead ApplicationLO3-1, L03-2Wilmington Company has two manufacturing departments-Assembly and Fabrication. It con-siders all of its manufacturing overhead costs to be fixed co

Predetermined overhead rate is the rate which is used for allocating overhead costs to the job or…

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PROBLEM 3-17 Plantwide and Departmental Predetermined Overhead Rates; Overhead Application LO3-1, L03-2 Wilmington Company has two manufacturing departments-Assembly and Fabrication. It con- siders all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set of data relates to one particular job completed during the year-Job Bravo. Estimated Data Manufacturing overhead costs. Direct labor-hours Machine-hours... Job Bravo Direct labor-hours Machine-hours. Assembly $600,000 50,000 20,000 Assembly 11 Fabrication $800,000 30,000 100,000 livello. DAD Total $1,400,000 80,000 120,000 Fabrication 3 6 Total 14 9 Required: tous poid 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would be applied to Job Bravo? betiups 2. If Wilmington uses departmental predetermined overhead rates with direct labor-hours as the allocation base in Assembly and machine-hours as the allocation base in Fabrication, how much manufacturing overhead would be applied to Job Bravo?hovo istor sdu sibemos

PROBLEM 3-17 Plantwide and Departmental Predetermined Overhead Rates; Overhead Application LO3-1, L03-2 Wilmington Company has two manufacturing departments-Assembly and Fabrication. It con- siders all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set of data relates to one particular job completed during the year-Job Bravo. Estimated Data Manufacturing overhead costs. Direct labor-hours Machine-hours... Job Bravo Direct labor-hours Machine-hours. Assembly $600,000 50,000 20,000 Assembly 11 Fabrication $800,000 30,000 100,000 livello. DAD Total $1,400,000 80,000 120,000 Fabrication 3 6 Total 14 9 Required: tous poid 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would be applied to Job Bravo? betiups 2. If Wilmington uses departmental predetermined overhead rates with direct labor-hours as the allocation base in Assembly and machine-hours as the allocation base in Fabrication, how much manufacturing overhead would be applied to Job Bravo?hovo istor sdu sibemos

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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QUESTION THREE An engineering company which uses job costing to attribute costs to individual products and services provided to its customers has began the preparation of its fixed production overhead cost budget for 2017. Cost has been identified as follows: Machining Assembly Finishing Stores Maintenance K’000 K’000 K’000 K’000 K’000 Apportioned cost 6,000 2,500 1,500 1,000 800 The stores and maintenance departments are production department and provide services as follows: Machining Assembly Finishing Stores Maintenance Stores 40% 30% 20% - 10% Maintenance 55% 20% 20% 5% - The number of machine and labour hours budgeted for 2018 is: Machining…
Problem 19-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 32,200 Direct labor used (in March) Overhead applied (March) 23,200 13,200 $ 38,200 21,200 12,200 Costs during April Direct labor used Overhead applied Direct materials used 143,000 Status on April 30 88,200 ? Finished (sold) 228,000 $ 108,000 158,000 ? 113,000 7 Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $83,200. b. Raw materials purchases in April are $508,000, and total factory payroll cost in April is $371,000. c. Actual overhead costs incurred in April are indirect materials, $52,000; indirect labor, $25,000; factory rent, $34,000; factory utilities, $21,000; and factory…
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Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO 2-2, LO2-3, LO2-4] Skip to question [The following information applies to the questions displayed below.] Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 53,000 machine - hours would be required for the period's estimated level of production. It also estimated $980,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $5.00 per machine-hour. Because Delph has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine - hours. The company gathered the following information to enable calculating departmental overhead rates: Molding Fabrication Total Machine - hours 23,000 30,000 53,000 Fixed manufacturing…
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Exercise 17-14 (Algo) Allocating overhead cost to jobs using activity-based costing LO P3 Pro-Craft Company computed the following activity rates to allocate overhead cost for the year. Activity Activity Rate Materials handling $ 54 per materials requisition Quality inspection $ 44 per inspection Utilities $ 5 per machine hour During January, the company produced the following two jobs. Allocate overhead cost to each job using the activity rates. Activity Cost Driver Activity Usage Job A Job B Materials requisitions 5 3 Inspections 8 4 Machine hours 320 220
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