Q1: According to the December payroll register ABC Co.'s working hours for each cost center areas follows:WorkingDays22 days22 days22 days22 daysDepartmentNumber ofNormalOvertimeIdleWorking HourWorking Hour1.100 h.WorkersTimeKnitting (Main Pro. Center)Coloring (Main Pro. Center)Generator(Service Pro. Center)Infirmary (Service Pro. Center)254.400 h.200 h.152.640 h.3.300h.5880 h.101.760 h.100 h.ABC Co.'s normal working hours is 8 hours in a day and normal rate is 10 TL/hour. Overtime rate is 12TL/hour. Employer's Share of Social Security Premium is TL 3.872 TL. The workers were idle due topower failure.Required: Determine the direct and indirect labor cost of each cost center.

When idle time is due to power failure, it is an abnormal idle item.

Q1: According to the December payroll register ABC Co.'s working hours for each cost center are as follows: Department Number of Workers Working Days 22 days 22 days 22 days 22 days Normal Working Hour 4.400 h. Overtime Working Hour 1.100 h. 3.300h. Idle Time 200 h. Knitting (Main Pro. Center) Coloring (Main Pro. Center) Generator(Service Pro. Center) Infirmary (Service Pro. Center) 25 15 2.640 h. 880 h. 10 1.760 h. 100 h. ABC Co.'s normal working hours is 8 hours in a day and normal rate is 10 TL/hour. Overtime rate is 12 TL/hour. Employer's Share of Social Security Premium is TL 3.872 TL. The workers were idle due to power failure. Required: Determine the direct and indirect labor cost of each cost center.

Q1: According to the December payroll register ABC Co.'s working hours for each cost center are as follows: Department Number of Workers Working Days 22 days 22 days 22 days 22 days Normal Working Hour 4.400 h. Overtime Working Hour 1.100 h. 3.300h. Idle Time 200 h. Knitting (Main Pro. Center) Coloring (Main Pro. Center) Generator(Service Pro. Center) Infirmary (Service Pro. Center) 25 15 2.640 h. 880 h. 10 1.760 h. 100 h. ABC Co.'s normal working hours is 8 hours in a day and normal rate is 10 TL/hour. Overtime rate is 12 TL/hour. Employer's Share of Social Security Premium is TL 3.872 TL. The workers were idle due to power failure. Required: Determine the direct and indirect labor cost of each cost center.

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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E COST ACCOUNTING AND CONT x + To * pook i forms.office.com/Pages/ResponsePage.aspx?id=cYWpTercOUIPsQvdXclp-WXyu19p0dpljDbGCXgjKqpUMKISRjcOSUUyWkgwUERKSzczT0tETUhGQi4u&fbclid. ☆ 49 Determine the costs of jobs completed in January. January 1, there were two jobs in process at the Fortune Manufacturing Company. Details of the jobs are: Job No. Direct Materials Direct Labor A-9 A-10 P 34,800 6,400 P12,800 16,800 Materials inventory at January 1 totaled P 184,000 and P 23,200 in materials were purchased during the month. A requisition for P16,00 in supplies was filled. On January 1, finished goods inventory consisted of two Jobs: Job No. A-7 costing P78,400 and Job No. 8 with a cost of P31,600. Both these Jobs were sold during the month. Also during January, Job Nos. A-9 and A-10 were completed. Completing Job No, A-9 required additional P13,600 in direct labor and P6,000 in direct materials. The completion costs for Job No. A-10 included P21,600 in direct materials and P 40,000 in direct…
es E2-3 (Algo) Analyzing Labor Time Tickets and Recording Labor Costs [LO 2-2, 2-4] A weekly time ticket for Joyce Caldwell follows: Labor Time Ticket Ticket Number: TT 338 Employee: Joyce Caldwell Date Monday, 8/12 Tuesday, 8/13 Wednesday, 8/14 Thursday, 8/15 Friday, 8/16 Time Started Job 271 Job 272 Job 273 7:00 AM 7:00 AM 7:00 AM 7:00 AM 12:00 PM 7:00 AM Dates: Monday 8/13 - Friday 8/17 Time Ended 3:00 PM 3:00 PM 3:00 PM 11:00 AM 4:00 PM 3:00 PM Weekly Totals Hourly Labor Rate Total Wages Earned Total Hours 8 hours 8 hours 8 hours 4 hours 4 hours 8 hours 40 hours × $21 $ 840 Job Number Job 271 Job 271 Job 272 Job 272 Maintenance Job 273 Required: 1. Determine how much of the $840 that Joyce earned during this week would be charged to Job 271, Job 272, and
Leafon Corporation has two production departments, Casting and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine hours and the Customizing Department's predetermined overhead rate is based on direct labor hours. At the beginning of the current year, the company had made the following estimates: Customizing Casting Machine-hours (MH) 20,000 17,500 Direct labor-hours (DLH) 7,000 9,000 Total Fixed MOH ℗ 175,000 P 165,500 Variable MOH per MH P 2.50 Variable MOH per DLH P 9.00 During the current month, the company started and finished Job Leaf-118. The following data were recorded for this job: Job Leaf-118 Customizing Casting Machine-hours 500 700 Direct labor-hours 100 450 The TOTAL AMOUNT of Overhead Applied to Job Leaf-118 is closest to Note: For interim calculations, use 5 decimal places; ROUND-UP final answer to a whole number.
should be produced by an employee if his gross pay is OMR 1,200.6 and the piece rate basis in his company is OMR 13.800 per unit. a. 92 Units b. 67 Units C. 87 Units d. 94 Units
am. 514.
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Q. 8. Dula Manufacturing Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,200, Work in Process-Cutting $2,900, Work in Process-Assembly S10,600, and Finished Goods $31,000. During July, the following transactions occurred. (a) Purchased $85,200 of raw materials on account. (b) Incurred $60,000 of factory labor. (Credit Wages Payable.) (c) Incurred $60,000 of manufacturing overhead; $34,000 was paid and the remainder is unpaid. (d) Requisitioned materials for Cutting $15,500 and Assembly $9,200. (e) Used factory labor for Cutting $38,000 and Assembly $22,000. (f) Applied overhead at the rate of S16 per machine hour. Machine hours were Cutting 1,870 and Assembly 1,260. (g) Transferred goods costing $87,800 from the Cutting Department to the Assembly Department. (h) Transferred goods costing $120,700 from Assembly to Finished Goods. (i) Sold goods costing $190,000 for $205,000 on account. Instructions Journalize the transactions. (Omit…
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O a. O b. 8. 0 с. O d. Assume an assembly line worker records the following time for a normal 40-hour work week, and assume the worker is paid $20 per hour. 10 hours working on Product A 12 hours working on Product B 7 hours working on Product C 5 hours working on Product D 3 hours idle time due to a power outage 3 hours cleaning up the factory What amount of the assembly line worker's wages would be considered direct labor, overhead, and period costs? Direct Labor a. b. C. e. d. 740 740 680 680 680 Overhead 60 0 120 0 60 Period costs 0 60 0 120 60
GLO201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Cecconi Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 Additional Information Job 306 $ 31,200 22,200 11,100 General Journal Requirement 137,200 89,400 ? Finished (sold) Job 307 $ 38,300 19, 100 9,550 223,300 155,500 ? Finished (unsold) a. Raw Materials Inventory has a March 31 balance of $85,500. b. Raw materials purchases in April are $502,200, and total factory payroll cost in April is $375,100. c. Actual overhead costs incurred in April are indirect materials, $51,100; indirect labor, $24,100; factory rent, $33,100; factory utilities, $20,100; and factory equipment depreciation, $53,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $620,000 cash in April. General Ledger Prepare journal…
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