rcise 2-8 (Algo) Applying Overhead Cost; Computing Unit Product Cost [LO2-2, LO2-3] whard Company assigns overhead cost to jobs on the basis of 118% of direct labor cost. The job cost sheet for Job 313 includes ,238 in direct materials cost and $10,900 in direct labor cost. A total of 1,250 units were produced in Job 313. quired: What is the total manufacturing cost assigned to Job 313? What is the unit product cost for Job 313? a. Total manufacturing cost b. Unit product cost

rcise 2-8 (Algo) Applying Overhead Cost; Computing Unit Product Cost [LO2-2, LO2-3] whard Company assigns overhead cost to jobs on the basis of 118% of direct labor cost. The job cost sheet for Job 313 includes ,238 in direct materials cost and $10,900 in direct labor cost. A total of 1,250 units were produced in Job 313. quired: What is the total manufacturing cost assigned to Job 313? What is the unit product cost for Job 313? a. Total manufacturing cost b. Unit product cost

Name: Exercise 2-8 (Algo) Applying Overhead Cost; Computing Unit Product Co
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Description: Exercise 2-8 (Algo) Applying Overhead Cost; Computing Unit Product Cost [LO2-2, LO2-3]Newhard Company assigns overhead cost to jobs on the basis of 118% of direct labor cost. The job cost sheet for Job 313 includes$16,238 in direct materials cost an

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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OMR 232,293 .c O OMR 220,084 d O OMR 220,720 e O A Company uses a job-order costing system with a single plantwide predetermined overhead rate based on labor-hours. The company based its predetermined overhead rate for the current year on total estimated manufacturing overhead cost of $120,000 and 6,000 labor-hours. The job sheet of Job1112 shows that the number of units produced in this job order is 5 units. This job required 500 labor- thours and incurred direct materials cost of $10.000 and direct labor costs of $30,000. The unit product cost for Job1112 is None of the given answers .a O $2,000 .b O $50,000 .c O $32,000 .d O $10,000 .e O الصفحة التالية COURSE OUTLUNE SPRING2021 1500R 144H CURVED High h Te
#3 Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials. Direct labor-hours Direct labor wage rate Machine-hours Multiple Choice O $3.373 The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be: $5,207 $2,450 $6,047 S 71 labor-hours. 13 per labor-hour 131 machine-hours
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9. The BAM Manufacturing Co. uses a job-order costing system, and it applies factory overhead to production at a pre-determined rate based on direct labor cost. The following account appears in the general ledger: WORK IN PROCESS P 50,000 100,000 80,000 60,000 Finished goods P250,900 Beg. Bal Direct Materials Direct Labor Applied overhead The ending work in process represents the cost of Job# 26 which has been charged with P6,000 of direct labor and the cost of Job # 27 which has been charged with applied factory overhead of P4,800. Total cost of direct materials in the ending work in process was А. Р8,400 В. Р9,000 C. P15,200 D. P17,400 10. A company had the following total usage of direct labor and direct materials Hours Pounds Direct Labor (P8 per hour) 400 Direct Materials (PIO per pound) 300 Incomplete job # 101 has used 20 hours of direct labor and 8 pounds of direct materials. Factory overhead is applied at the rate of 200% per direct labor peso. What is the balance in work in…
Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period $ 43,000 9,200 63,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs End of Period $ 57,000 18,600 34,300 $ 183,000 150,000 18,000 34,500 98,500 Exercise 15-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the…
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Hancock Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per The estimated total manufacturing overhead is closest to: O $273,000 $630,000 O $357,004 O $357,000 machine-hour 70,000 $ 357,000 S 3.90
23. Using the activity-based costing method of applying manufacturing overhead, the amount of overhead applied to Job #414 would be: A) $29,600 B) $17,412 C) $34,824 $59,200 E) $36,000 24. Using the POHR based on direct labor hours, the amount of overhead costs applied to Job#414 would be: A) $36,000 B) $34,824 $17,412 D) $29,600 E) $59,200
! Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of period $ 45,000 9,600 68,000 End of Period Inventories Raw materials Work in process Finished goods $ 45,000 19,000 33,500 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. X Answer is not complete. No Transaction General Journal…
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