Rotel has 2 jobs completed at the end of the year. There is 1 factory wide POHR used at Rotel based on direct material dollars. Job #4B51 has reported:
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
![QUESTION 28
Rotel has 2 jobs completed at the end of the year. There is 1 factory-wide POHR used at Rotel based on direct material dollars. Job ABS1 has reported:
$3,000 direct labor
54 direct labor hours
$4500 direct materials
$3,150 applied overhead
Job #4C2 has reported:
$6,100 in direct labor
108 direct labor hours
$6,000 direct materials
What is the amount of overhead applied to Job #4C2?
$6,300
$1,260
$4,200
$6,500
QUESTION 29
During October, Dorinirl Corporation incurred $25,000 of direct material costs and $5,000 of indirect materials costs. The journal entry to record these materials
would include a:
O credit to Manufacturing Overhead $25,000
O credit to Work in Process of $25,000
O debit to Work in Process of $25,000
O debit to Manufacturing Overhead $25,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9b622491-c9b1-40a9-94ca-6490bb9e7c22%2Fe9898c0d-f18b-4271-83de-cfa4d3521e6f%2Fn044kac_processed.jpeg&w=3840&q=75)
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