Stanford Manufacturing recently completed Job 842, and thefollowing data have been recorded on its job cost sheet:•Direct materials: $3,675•Direct labor-hours: 82 labor-hours.•Direct labor wage rate: $22 per labor-hourMachine-hours: 150 machine-hoursStanford Manufacturing applies overhead based on machine hoursat a predetermined overhead rate of $25 per machine hour.In addition, they had a safety inspection on site during the jobcompletion. The total cost that would be recorded on the job cost sheetfor Job 842 isa. $8,950wwb. $9,175w

To determine the total cost recorded on the job cost sheet for Job 842, we need to calculate the…

Answered: Stanford Manufacturing recently…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 2PB: Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500...

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Luna Manufacturing Inc. completed Job 2525 on May 31, and there were no jobs in process in the plant. Prior to June 1, the predetermined overhead application rate for June was computed from the following data, based on an estimate of 5,000 direct labor hours: The factory has one production department and uses the direct labor hour method to apply factory overhead. Three jobs are started during the month, and postings are made daily to the job cost sheets from the materials requisitions and labor-time records. The following schedule shows the jobs and amounts posted to the job cost sheets: The factory overhead control account was debited during the month for actual factory overhead expenses of 27,000. On June 11, Job 2526 was completed and delivered to the customer using a mark-on percentage of 50% on manufacturing cost. On June 24, Job 2527 was completed and transferred to Finished Goods. On June 30, Job 2528 was still in process. Required: 1. Prepare job cost sheets for Jobs 2526, 2527, and 2528, including factory overhead applied when the job was completed or at the end of the month for partially completed jobs. 2. Prepare journal entries as of June 30 for the following: a. Applying factory overhead to production. b. Closing the applied factory overhead account. c. Closing the factory overhead account. d. Transferring the cost of the completed jobs to finished goods. e. Recording the cost of the sale and the sale of Job 2526.
Compute the total job cost for each of the following scenarios: a. If the direct labor cost method is used in applying factory overhead and the predetermined rate is 100%, what amount should be charged to Job 2010 for factory overhead? Assume that direct materials used totaled 5,000 and that the direct labor cost totaled 3,200. b. If the direct labor hour method is used in applying factory overhead and the predetermined rate is 10 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, and the number of direct labor hours totaled 250. c. If the machine hour method is used in applying factory overhead and the predetermined rate is 12.50 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, the direct labor hours were 250 hours, and the machine hours were 295 hours.
CleanCom Company specializes in cleaning commercial buildings and construction sites. Each building and site is different, requiring amounts and types of supplies and labor for each job. CleanCom estimated the following for the year: During the year, the following actual amounts were experienced: If CleanCom uses a normal costing system and overhead is applied on the basis of direct labor hours, what is the cost of cleaning a construction site that takes 140 of direct materials and 21 direct labor hours? a. 455 b. 508 c. 648 d. 644
Stanford Manufacturing recently completed Job 842, and the following data have been recorded on its job cost sheet: • Direct materials: $3,675 • Direct labor-hours: 82 labor-hours . • Direct labor wage rate: $22 per labor-hour Machine-hours: 150 machine-hours Stanford Manufacturing applies overhead based on machine hours at a predetermined overhead rate of $25 per machine hour. In addition, they had a safety inspection on site during the job completion. The total cost that would be recorded on the job cost sheet for Job 842 is a. $8,950 b. $9,175 c. $9,542 d. $8,912.
Job 910 was recently completed. The following data have been recorded on its job cost sheet Direct materials $2,431 Direct labor-hours 70 labor-hours Direct labor wage rate Machine-hours $. 22 per labor-hour 139 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $23 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be: Multple Cholce $3.971 $4.492 $8.008 $7.168 6:07 PM O search 92°F AQI 61 へ回 9/8/2021 22 DELL
MetroTech Solutions has finished Job 915, and the job cost sheet contains the following data: . Direct materials: $4,200 • Direct labor-hours: 95 labor-hours • Direct labor wage rate: $20 per labor-hour • Machine-hours: 145 machine-hours Overhead is applied at a rate of $18 per machine-hour. A new time tracking system was used during this project to increase accuracy, but this does not affect the cost calculation. The total cost that would be recorded on the job cost sheet for Job 915 is:
The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Determine the total cost on the job cost sheet for Job 9-1005. Date Document Amount 7/1 Q-4698 $1,250 7/1 W-3393 600 7/5 Q-4725 1,000 7/5 W-3479 450 7/10 W-3559 300
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Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ 2,412 Direct labor-hours 74 labor-hours Direct labor wage rate $ 21 per labor-hour Machine-hours 137 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $22 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be:
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 $2,418 74 labor-hours 13 per labor-hour 137 machine-hours 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:
Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ $ 3,193 Direct labor-hours 21 labor-hours Direct labor wage rate $ 12 per labor-hour Machine-hours 166 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $15 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be: Multiple Choice $3,220 $3,760 $5,935 $3,445
Remote Education Technology, Incorporated started and finished job number B67 during June. The job required $47,800 of direct material and 400 hours of direct labor at $26 per hour. The predetermined overhead rate is $5 per direct-labor hour. Required: Prepare journal entries to record the incurrence of production costs and the completion of job number B67.

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