TB MC Qu. 2-130 Lupo Corporation uses a Job-order ..Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the currentyear on the following data:DedTotal machine-hoursTotal fixed manufacturing overhead costVariable manufacturing overhead per machine-hour30,000$252,0002.10Recently, Job T687 was completed with the following characteristics:Number of units in the jobTotal machine-hoursDirect materials1030$675$1,050Direct labor costThe estimated total manufacturing overhead is closest to:Multiple Cholce$315,000S252.000Mc.GrawHill< Prev5 of 36Next >10:53 AM66°F Mostly cloudyO Type here to search10/20/202121DELLDeletePgUpPgDnHomeF10F11F12PrtScrInsertF7F8F9F2F3F4F5F6

The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…

Answered: TB MC Qu. 2-130 Lupo Corporation uses a…

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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QUESTION 1 Richards Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 50,000 direct labor-hours, total fixed manufacturing overhead cost of $390,000, and a variable manufacturing overhead rate of $4.40 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data: Total direct labor-hours Direct materials Direct labor cost Required: Show your calculations to get full credit. Calculate the total budgeted overhead for the year. la 1b 1c 1d Calculate the predetermined overhead rate for the year. Calculate the total manufacturing cost of job X941 Calculate the total selling price for Job X941 if the company marks up its unit product costs by 20%. 300 $600 $7,000 D
Required information Skip to question [The following information applies to the questions displayed below.] Delph Company uses a job - order costing system and has two manufacturing departments-Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding Fabrication Total Machine - hours 22, 000 35,000 57,000 Fixed manufacturing overhead cost $ 740,000 $ 240,000 $980,000 Variable manufacturing overhead cost per machine - hour $ 3.00 $ 1.50 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs-Job D-70 and Job C-200. It provided the following information related to those two jobs: Job D-70 Molding Fabrication Total Direct materials cost $ 370,000 $320, 000 $ 690,000 Direct labor cost $ 200,000 $ 140,000 $340,000 Machine - hours 14,000 8,000 22,000 Job C-200 Molding Fabrication Total Direct materials cost $ 280,000 $ 300, 000 $ 580,000 Direct labor cost $ 140,000 $ 280, 000 $…
6 Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 44,000 direct labor-hours, total fixed manufacturing overhead cost of $369,600, and a variable manufacturing overhead rate of $4.00 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data: Total direct labor-hours Direct materials Direct labor cost. 300 $ 600 $7,000 Required: Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%. (Round intermediate calculations and final answer to 2 decimal places.) Selling price per unit
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#3 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 Multiple Choice O $3.373 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: $5,207 $2,450 $6,047 S 71 labor-hours. 13 per labor-hour 131 machine-hours
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Carradine Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine hours. The company based as predetermined overhead rate for the curren manufacturing overhead cost of $105,000. variable manufacturing overhead of $3.00 per machine hour, and 70,000 machine hours. The company recently completed job P223 which required 60 machine overhead applied to Job P233 is closest to O $90 O $270 Ⓒ$450 O$180
TB MC Qu. 6-91 (Algo) Job 731 was recently completed. The following... The following data relates to the production of Product B-09 for the current period: Direct materials $ 3,391 Direct labor-hours 79 labor-hours Direct labor wage rate $ 13 per labor-hour Machine-hours 129 machine-hours The company allocates manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $24 per machine-hour. The total cost for Product B-09 for the current period would be: rev: 08_15_2019_QC_CS-174994 Multiple Choice A) $3,568. B) $6,274. C) $7,514. D) $4,850.
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