1Shire Computer's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $624,000of overhead costs and $520,000 of direct labor cost for the year. During March, Shire began and completed Job 13-56.1. What is the predetermined overhead rate for the year?2. Use the information on the following job cost sheet to determine the total cost of the job.Complete this question by entering your answers in the tabs below.DokntRequired 1 Required 2ntencesUsing the information on the following job cost sheet, determine the total cost of the job. (Round your answers to the nearestdollar amount.)JOB COST SHEETCustomer's Name: Keiser Co.Job No: 13-56Job Description: 5 plasma monitors-61 inchDirect MaterialsOverheadTotal CostDateRequisition No.AmountCostsAppliedMar. 84-129$ 6,000 T-306$ 7,800Mar. 114-1427,350 T-432Mar. 184-1673,850 T-456447.000▬‒‒‒mNext >***********HOLDirect LaborTime-Ticket No.Amount$chPrev6501,3301,3000001 of 7GO

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Description: 1Shire Computer's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $624,000of overhead costs and $520,000 of direct labor cost for the year. During March, Shire began and completed Job 13-56.1. W

Total cost = Direct materials + direct labor + overhead applied Overhead is applied to the…

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Shire Computer's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $624,000 of overhead costs and $520,000 of direct labor cost for the year. During March, Shire began and completed Job 13-56. 1. What is the predetermined overhead rate for the year? 2. Use the information on the following job cost sheet to determine the total cost of the job. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the information on the following job cost sheet, determine the total cost of the job. (Round your answers to the nearest dollar amount.) JOB COST SHEET Customer's Name: Keiser Co. Job No: 13-56 Job Description: 5 plasma monitors-61 inch Direct Materials Overhead Total Cost Costs Date Requisition No. Amount Applied Mar 8 4-129 Direct Labor Time-Ticket No. 6.000 T 306 Amount 650

Shire Computer's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $624,000 of overhead costs and $520,000 of direct labor cost for the year. During March, Shire began and completed Job 13-56. 1. What is the predetermined overhead rate for the year? 2. Use the information on the following job cost sheet to determine the total cost of the job. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the information on the following job cost sheet, determine the total cost of the job. (Round your answers to the nearest dollar amount.) JOB COST SHEET Customer's Name: Keiser Co. Job No: 13-56 Job Description: 5 plasma monitors-61 inch Direct Materials Overhead Total Cost Costs Date Requisition No. Amount Applied Mar 8 4-129 Direct Labor Time-Ticket No. 6.000 T 306 Amount 650

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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Hamada company uses normal costing to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). During 2020, Indirect manufacturing labor cost incurred $1,300,000. The journal entry is: a. Work-in-Process Control debit $1,300,000 and Wages payable control credit $1,300,000. b. Manufacturing Overhead Control debit $1,300,000 and Materials Control credit $1,300,000. c. Wages payable control debit $1,300,000 and Work-in-Process Control credit $1,300,000. d. Wages payable control debit $1,300,000 and Manufacturing Overhead Control credit $1,300,000.
Please help me solve the total manufacturing cost for Job D-70 & Job C-200
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Parker Company has a job-order costing system and uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. At the beginning of the year, manufacturing overhead and direct labor-hours for the year were estimated at RM50,000 and 20,000 hours, respectively. In June, Job #461 was completed. Materials costs on the job totaled RM4,000 and labor costs totaled RM1,500 at RM5 per hour. At the end of the year it was determined that the company worked 24,000 direct labor-hours for the year and incurred RM54,000 in actual manufacturing overhead costs. REQUIRED: If Job #461 contained 100 units, compute the unit cost on the completed job cost sheet. Determine whether manufacturing overhead costs was under/over-applied for the year.
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At the end of April, Cavy Company had completed Jobs 766 and 765. The individual job cost sheets reveal the following information: Job Direct Materials Direct Labor Machine Hours Job 765 $7,000 $2,100 25 Job 766 11,628 3,672 68 Job 765 produced 150 units, and Job 766 consisted of 340 units. Assuming that factory overhead is applied using machine hours at a rate of $153 per hour. a. Determine the balance on each job cost sheet.Job 765 fill in the blank 1 of 2$Job 766 fill in the blank 2 of 2$ b. Determine the cost per unit for each job at the end of April. Round your answers to the nearest cent.Job 765 fill in the blank 1 of 2$Job 766 fill in the blank 2 of 2$
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Can you please show how its done? I got $75,000 and its not correct