Exercise 2-3 (Algo) Computing Total Job Costs and Unit Product Costs Using a PlantwidePredetermined Overhead Rate [LO2-3]Mickley Company's plantwide predetermined overhead rate is $22.00 per direct labor-hour and its direct labor wage rate is $15.00 perhour. The following information pertains to Job A-500:Direct materialsDirect labor$290$75Required:1. What is the total manufacturing cost assigned to Job A-500?2. If Job A-500 consists of 90 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.)1. Total manufacturing cost2. Unit product costper unit

The manufacturing costs are those costs incurred for producing the goods or services of the…

Answered: Required: 1. What is the total…

Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 90 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.)

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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s === Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) Note: Do not round your intermediate calculations. Round your final answers to the nearest whole dollar. Enter all amounts as positive values. Direct materials used Direct labor Manufacturing overhead applied Total current manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured Beginning finished goods inventory Ending finished goods inventory Cost of goods sold 89 SEP 17 84 < Prev Case 1 16,000 12,000 8,100 5,900 3,800 7,900 6 of 8 tv Case 2 ‒‒‒ ‒‒‒ ▬▬▬…
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.
9.) If 12,500 units are sold, what is the total fixed manufacturing overhead costs to support this production level? 10.) If 12,500 units are sold, what is the fixed manufacturing overhead cost per unit sold? 11.) If 8,000 units are sold, what is the total manufacturing overhead costs to support this production level? What is the manufacturing overhead cost per unit?
Heidelberg Fabrication manufactures two products, G-09 and G-35: Units produced Direct materials cost per unit Machine-hours per unit Production runs per quarter G-09 19,400 $7 4 144 Machine depreciation Setup labor Materials handling Total Production at the plant is automated and any labor cost is included in overhead. Data on manufacturing overhead at the plant follow: G-35 3,880 $ 19 7 72 $184,760 52,380 41,904 $ 199,044 Required: a. Heidelberg currently applies overhead on the basis of machine-hours. What is the predetermined overhead rate for the quarter? Note: Round your answer to 2 decimal places. b. Heidelberg is thinking of adopting an ABC system. They have tentatively chosen the following cost drivers: machine-hours for machine depreciation, production runs for setup labor, and direct material dollars for materials handling. Compute the cost driver rates for the proposed system at Heidelberg.
help with part D please
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
Silven Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity Setting up equipment $138,000 Number of setups 120 Ordering materials 21,600 Number of orders 1,200 Machining 107,100 Machine hours 11,900 Receiving 16,740 Receiving hours 930 Silven produces two models of cell phones with the following expected activity demands: Model X 4,600 80 400 Units completed Number of setups Number of orders Machine hours Receiving hours Required: 6,800 310 Model X Model Y Model Y 9,200 40 800 5,100 620 1. Determine the total overhead assigned to each product using the four activity drivers. Total Overhead Assigned
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate compl 2. Compute the contribution margin per unit. [assume direct labor is a fixed cost] 3. Compute the contribution margin per welding hour. [assume direct labor is a fixed cost] 4. Assuming direct labor is a fixed cost: a. Determine the number of WVD drums (if any) that should be purchased and the number of WVD drums and/or bike frames (if any) that should be manufactured. b. What is the increase (decrease) in net operating income that would result from this plan over current operations? 5. Compute the contribution margin per unit. [assume direct labor is a variable cost] 6. Compute the contribution margin per welding hour. [assume direct labor is a variable cost] 7. Assuming direct labor is a variable cost: a. Determine the number of WVD drums (if any) that should be purchased and the number of WVD drums and/or bike frames (if any) that should be manufactured. b.…
10. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? 11. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q? 12. If Job P includes 20 units, what is its unit product cost?
Problem 3-19 (Algo) Multiple Predetermined Overhead Rates; Applying Overhead [LO3-1, LO3-2, LO3-4] High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor- hours. At the beginning of the year, the company provided the following estimates: Department Molding Painting 33,500 53,300 85,000 35,000 $212,500 $463, 710 $ 3.00 $ 5.00 Direct labor-hours Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Direct labor-hours…