Tolkien Company started its operation on November 1 with no beginning inventories. It started two jobs during July-Job P and Job Q. Job P was completed and sold by the end of November. Job Q was completed but was not sold by the end of November. The company uses a plant-wide predetermined overhead rate based on direct labor-hours (DLHs) and applies MOH costs based on the actual DLHs. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of November): Estimated total fixed manufacturing overhead (MOH) Estimated variable manufacturing overhead cost per DLH Total actual manufacturing overhead costs incurred A. B. Direct materials Direct labor cost Estimated DLHs Actual DLHs worked $ S 14 What was the estimated total FIXED MOH? $ 12,987 $ 17,316 C. 12,870 D. 11,895 E. None of the above S $ The ending inventory balance of Work-in-process: The ending inventory balance Finished Goods Inventory: Job P 17,500 43,200 2,700 2,400 S $ Job Q 9,300 11,700 630 650 $ $ $ $ 1.30 170,000 Total 26,800 54,900 3,330 3,050 ? $0 $24,380

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Tolkien Company started its operation on November 1 with no beginning inventories. It started two jobs during July-Job P and Job Q.
Job P was completed and sold by the end of November. Job Q was completed but was not sold by the end of November. The company
uses a plant-wide predetermined overhead rate based on direct labor-hours (DLHs) and applies MOH costs based on the actual DLHs.
The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the
month of November):
Estimated total fixed manufacturing overhead (MOH)
Estimated variable manufacturing overhead cost per DLH
Total actual manufacturing overhead costs incurred
< BUDE
Direct materials
Direct labor cost
Estimated DLHs
Actual DLHs worked
The ending inventory balance of Work-in-process:
The ending inventory balance Finished Goods Inventory:
14 What was the estimated total FIXED MOH?
$
$
12,987
17,316
12,870
$
11,895
None of the above
Job P
$ 17,500
$ 43,200
S
2,700
2,400
$
$
$
Job Q
9,300
11,700 $
630
650
un c
$
$
?
1.30
170,000
Total
26,800
54,900
3,330
3,050
SO
$24,380
Transcribed Image Text:Tolkien Company started its operation on November 1 with no beginning inventories. It started two jobs during July-Job P and Job Q. Job P was completed and sold by the end of November. Job Q was completed but was not sold by the end of November. The company uses a plant-wide predetermined overhead rate based on direct labor-hours (DLHs) and applies MOH costs based on the actual DLHs. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of November): Estimated total fixed manufacturing overhead (MOH) Estimated variable manufacturing overhead cost per DLH Total actual manufacturing overhead costs incurred < BUDE Direct materials Direct labor cost Estimated DLHs Actual DLHs worked The ending inventory balance of Work-in-process: The ending inventory balance Finished Goods Inventory: 14 What was the estimated total FIXED MOH? $ $ 12,987 17,316 12,870 $ 11,895 None of the above Job P $ 17,500 $ 43,200 S 2,700 2,400 $ $ $ Job Q 9,300 11,700 $ 630 650 un c $ $ ? 1.30 170,000 Total 26,800 54,900 3,330 3,050 SO $24,380
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