Tarzan Co. employs a job order cost system. Its manufacturing activities in July 2019, its first month of operation, are summarized as follows: JOB NUMBERS 1201 1202 1203 1204 Direct Materials 7,000 5,800 11,600 5,000 Direct Labor Cost 6,600 6,000 8,400 2,400 Direct Labor Hours 1,100 1,000 1,400 400 Units produced 200 100 1,000 300 Manufacturing overhead is applied at a rate of P2 per direct labor hour for variable overhead and P3 per hour for fixed overhead. Jobs 1201, 1202, and 1203 were completed in July. What is the cost of the completed jobs?

Tarzan Co. employs a job order cost system. Its manufacturing activities in July 2019, its first month of operation, are summarized as follows: JOB NUMBERS 1201 1202 1203 1204 Direct Materials 7,000 5,800 11,600 5,000 Direct Labor Cost 6,600 6,000 8,400 2,400 Direct Labor Hours 1,100 1,000 1,400 400 Units produced 200 100 1,000 300 Manufacturing overhead is applied at a rate of P2 per direct labor hour for variable overhead and P3 per hour for fixed overhead. Jobs 1201, 1202, and 1203 were completed in July. What is the cost of the completed jobs?

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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Kapoor Catering Co. uses a job cost system. Its activities in November 2020, the first month of operation, were as follows: Information State University On-the-Go Home Precious Pre-school Direct Materials Cost (food) $53,000 $36,900 $81,800 Direct Labor Cost $44,600 $40,700 $53,600 Labor Hours 2,920 3,510 4,160 The company applies overhead at a rate of $16.00 per labor hour. It completed all of its jobs in November. Total revenue for the three jobs amounted to $392,700. The actual overhead for the month was $147,400, of which $122,000 should be credited to accounts payable and $38,000 should be credited to Accumulated Depreciation.Determine the costs that should be assigned to each of the jobs.
compute the total manufacturing cost assigned to jobs in january in each department Pharoah Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2025, the following estimates were made for the year. Department D E K Manufacturing overhead $1,012,500 $1,462,500 $810,000 Direct labor costs $1,350,000 $1,125,000 $405,000 Direct labor hours 90,000 112,500 36.000 Machine hours 360,000 450,000 108,000 The following information pertains to January 2025 for each manufacturing department. Department D E K Direct materials used. $126.000 $113,400 $70,200 Direct labor costs $108,000 $99,000 $33,750 Manufacturing overhead incurred $89,100 $111,600 $71.100 Direct labor hours 7,200 9,900 3,150 Machine hours 30,600 40,500 9,360
d) Given that Job #4000 consisted of 250 units, determine the production cost per unit?
The Fielder manufacturing company uses job order costing system. The company usesmachine hours to apply overhead cost to jobs. At the beginning of 2020, the companyestimated that 7,850 machine hours would be worked and $1,256,000 overhead cost wouldbe incurred during 2020.The following activities took place in the work in process inventory during February:WIP Inventory A/CFebruary 1 Bal. b/f 51,250Direct Materials Used 256,400Other transactions incurred: Indirect material issued to production was $38,000 Total manufacturing labour incurred in February was $345,000, 80% of this amountrepresented direct labour. Other manufacturing overhead costs incurred for February amounted to $340,750. Two jobs were completed with total costs of $324,000 & $240,000 respectively. Theywere sold on account at a margin of 40% on sales.Required:i) Compute Fielder’s predetermined manufacturing overhead rate for 2020.ii) State the journal entries necessary to record the above transactions in the…
Kapoor Catering Co. uses a job cost system. Its activities in November 2020, the first month of operation, were as follows: Information State University On-the-Go Home Precious Pre-school Direct Materials Cost (food) $54,100 $35,100 $79,700 Direct Labor Cost $43,600 $41,400 $53,500 Labor Hours 3,210 3,690 4,120 The company applies overhead at a rate of $20.00 per labor hour. It completed all of its jobs in November. Total revenue for the three jobs amounted to $401,200. The allocated overhead for the month was $149,800, of which $129,200 should be credited to accounts payable and $41,700 should be credited to Accumulated Depreciation.
The billing price for job no. 100 per unit amounted to ________
45.
The cost of goods manufactured for the month was:
Morant, Inc. uses a job order costing system and applies overhead on the basis of 125% of direct labor cost. On June 1, 2024, the balance in the work in process inventory account was $197,100. During June, Morant had the following transactions: Raw materials purchased Raw materials used Direct labor costs incurred Actual manufacturing overhead costs incurred Cost of completed jobs $50,200 $50,800 $48,200 $63,700 $87,000 Assume all raw materials are direct materials. What is the balance in Morant's work in process inventory account at June 30? (Hint: The slide with the fire trucks... what affects the work in process account?] 1
The Plastic Manufacturing Company uses the Job Order Costing and applies manufacturing overhead costs to units produced using an appropriate base. The activities for September 2020 are shown below: Direct Material Inventory used $ 45,000 Indirect Material Inventory used $ 4,000 Direct Manufacturing Labor $ 53,500 Applied Manufacturing Overhead $ 56,500 Actual Manufacturing Overhead $ 62,500 Beginning and Ending Work In Process $ 0 What is the cost of jobs completed in September 2020? а. $ 151,000 b. $ 155,000 $ 161,500 d. $ 161,000
based on the attached what is the answer?
Kapoor Catering Co. uses a job cost system. Its activities in November 2020, the first month of operation, were as follows: Information State University On-the-Go Home Precious Pre-school Direct Materials Cost (food) $55,900 $37,200 $79,700 Direct Labor Cost $43,500 $38,800 $53,100 Labor Hours 3,360 3,550 3,810 The company applies overhead at a rate of $16.00 per labor hour. It completed all of its jobs in November. Total revenue for the three jobs amounted to $406,800. The actual overhead for the month was $148,400, of which $118,600 should be credited to accounts payable and $41,500 should be credited to Accumulated Depreciation.Determine the costs that should be assigned to each of the jobs. State University On-the-Go Home Precious Pre-school TOTAL Direct Materials Direct Labor Applied Overhead Total Job Cost Manufacturing Overhead Debit Credit

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	JOB NUMBERS
	*1201*	*1202*	*1203*	*1204*
Direct Materials	7,000	5,800	11,600	5,000
Direct Labor Cost	6,600	6,000	8,400	2,400
Direct Labor Hours	1,100	1,000	1,400	400
Units produced	200	100	1,000	300