sales revenue by what dollar amount?11)Corp makes jackets and uses machine-hours as the single indirect-cost rate to allocate O/H. Thefollowing estimates are provided for the coming year for the company overall and for Job 101 specifically.Job 101Company$40,000$10,000Manufacturing overhead costs $45,000Machine-hours100,000 mhDirect materialsDirect labor$2,000$400900 mhWhat is the annual manufacturing overhead cost-allocation rate for Corp's entire company (plant-wide)rate?12)What amount of O/H costs will be allocated to Job 101?13) What are the total manufacturing costs of Job 101?14) What is the bid price (price the company offers to do the work for) for the job if the company uses a40% markup of total manufacturing costs?

Name: sales revenue by what dollar amount?11)Corp makes jackets and uses ma
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Description: sales revenue by what dollar amount?11)Corp makes jackets and uses machine-hours as the single indirect-cost rate to allocate O/H. Thefollowing estimates are provided for the coming year for the company overall and for Job 101 specifically.Job 101Co

Answered: to allocate O/H. The nd for Job 101…

Business

Accounting

to allocate O/H. The nd for Job 101 specifical ire company (plant-wide ob if the company uses

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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Instruction: Identify the following: 1 The ameut ont unuct. IN fo 4. Yet-to-be-used materials. 5. Non-manufacturing costs incurred by a manufacturing firm in its operations. _6. Alternatively called Factory Overhead or simply Overhead. 7. Direct Materials plus direct labor plus factory overhead. 8. Goods acquired for production but not yet requisitioned to be put into process. 9. Prime Costs plus Conversion Costs. 10. Direct Labor plus Factory Burden.\ 11. The basic document to accumulate the cost of each order. 12. System that collects the actual amounts of product costs. 13. System that is often used by furniture manufacturers who produces variety of products, because such producers need to keep track of each specific order to ensure correct assignment of costs. 14. Rate used in accumulation of factory overhead costs under normal cost system. 15. Other term for process cost system.
Using predetermined factory overhead application rates to apply the manufacturing overhead to the products can cause the actual factory overhead to be different from the applied factory overhead. Discuss the accounting methods available for companies to dispose of the underapplied or overapplied factory overhead.
Journalize the entries for the following summarized operations related to production for a company using job order costing: a. Materials purchased on account b. Prepaid expenses incurred on account c. Materials requisitioned: For production orders For general factory use d. Factory labor used: On production orders For general factory purposes e. Depreciation on factory equipment f. Expiration of prepaid expenses, chargeable to factory g. Factory overhead costs incurred on account ) h. Factory overhead applied, based on machine hours i. Jobs finished j. Jobs shipped to customers: Cost Selling price (assume all sold on account) If an amount box does not require an entry, leave it blank. Show Transcribed Text a. C. f. b. d. 9. i. h. j. Show Transcribed Text Sale 3 00 00 00 00 00 000 000 00 00 - 00 00 00 00 00 Ć $176,000 12,200 153,700 2,700 141,300 12,000 37,000 6,100 76,000 105,300 415,300 412,000 638,000
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Which of the following is NOT an element of manufacturing overhead? Sales manager's salary Plant manager's salary Factory repairman's wages Factory product inspector's salary
Concepts and Terminology From the choices presented in parentheses, choose the appropriate term for completing each of the following sentences: Appr Sentence comp a. An example of factory overhead is (electricity used to run assembly line, CEO salary). b. Direct materials costs combined with direct labor costs are called (prime, conversion) costs. c. Long-term plans are called (strategic, operational) plans. d. Materials for use in production are called (supplies, materials inventory). e. The phase of the management process that uses process information to eliminate the source of problems in a process so that the process delivers the correct product in the correct quantities is called (directing, improving). f. The plant manager's salary would be considered (direct, indirect) to the product. g. The salaries of salespeople are normally considered a (period, product) cost. Previous Next
True/false 1) Activity-based costing information is recorded on a job sheet each month which is later posted to the general ledger at the end of the year. ________ 2. A factory production manager’s salary is considered an organizational sustaining activity cost. ________ 3. First stage allocation is the process by which overhead costs are assigned to activity cost pools in an activity-based costing system. ________ 4. Interviewing operating-level managers is a poor way of determining cost pools in first-stage allocation. ________ 5. Production accountants applying activity rates to cost pools in activity-based costing will be able to calculate standard costs. ________ 6. The process of budgeting often takes place during the process of evaluation. ________ 7. Preparation of the cash budget often precedes the preparation of the sales budget. ________ 8. The self-imposed budget is the same as a top-down budget. ________ 9. The Chief Executive Officer of a corporation…
17.) In a job order system, the ending Work in Process account balance should equal the sum of: A.) the Pokémon from all nine regions B.) all manufacturing costs for the period dloun C.) the open job cost sheets D.) the over or under-applied balance in Manufacturing Overhead for the period
Subject:
Please explain it properly
Indicate the source documents that are used in charging costs to specific jobs?
which of the following is not among the features of Job-order costing system Select one: O a. Work in process has a production report for each batch of products. O b. Many unique, high cost jobs. O c. Jobs built to customer order. O d. Costs accumulated by the job.