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-S Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost Compute the total job cost for this particular film. $ 1,259,000 $ 2,400,000 Required 1 Required 2 Complete this question by entering your answers in the tabs below. $ 8,000,000 $ 4,800,000 $ 0.05 Predetermined overhead rate Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) $ 0.81 per DL$ < Required 1 Required 2 >

-S Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost Compute the total job cost for this particular film. $ 1,259,000 $ 2,400,000 Required 1 Required 2 Complete this question by entering your answers in the tabs below. $ 8,000,000 $ 4,800,000 $ 0.05 Predetermined overhead rate Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) $ 0.81 per DL$ < Required 1 Required 2 >

FINANCIAL ACCOUNTING
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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5 Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar 6 points eBook References Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost. Compute the total job cost for this particular film. $ 1,259,000 $ 2,400,000 Required 1 Required 2 Complete this question by entering your answers in the tabs below. $ 8,000,000 $ 4,800,000 $ 0.05 Predetermined overhead rate Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) $0.81 per DL$ < Required 1 Required 2 >
Transcribed Image Text:5 Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar 6 points eBook References Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost. Compute the total job cost for this particular film. $ 1,259,000 $ 2,400,000 Required 1 Required 2 Complete this question by entering your answers in the tabs below. $ 8,000,000 $ 4,800,000 $ 0.05 Predetermined overhead rate Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) $0.81 per DL$ < Required 1 Required 2 >
5 6 points eBook References Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost Compute the total job cost for this particular film. Required 1 Complete this question by entering your answers in the tabs below. Required 2 Direct materials Direct labor Overhead applied Total job cost $ 1,259,000 $ 2,400,000 Compute the total job cost for this particular film. (Round your intermediate calculations to 2 decimal places.) $ $ $ 8,000,000 $ 4,800,000 $ 0.05 1,350,000 2,592,000 2,099,520 6,041,520 < Required 1 Required 2 >
Transcribed Image Text:5 6 points eBook References Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost Compute the total job cost for this particular film. Required 1 Complete this question by entering your answers in the tabs below. Required 2 Direct materials Direct labor Overhead applied Total job cost $ 1,259,000 $ 2,400,000 Compute the total job cost for this particular film. (Round your intermediate calculations to 2 decimal places.) $ $ $ 8,000,000 $ 4,800,000 $ 0.05 1,350,000 2,592,000 2,099,520 6,041,520 < Required 1 Required 2 >
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