u Technology Co. manufactures DVDS for computer software and entertainment companies. Tu uses job order costing. ,900 DVDS, Job 423, for Diorama Pictures for $1.40 sales price per DVD. Tu promised to deliver the DVDS to Diorama Pictures by November 5. Tu incurred the pllowing direct costs: Click the icon to view the costs.) A (Click the icon to view additional information.) Read the requirements. Direct materials Direct labor Manufacturing overhead allocated Labor Time Requisition Record Date Number Amount Number Amount Date Rate Amount 11-3 145% of direct 24 372 655 $ 180 labor cost 11-2 63 11-2 64 700 Overall Cost Summary 126 656 260 Direct materials 1198 11-3 74 440 Direct labor Manufacturing overhead Allocated Total Job Cost Totals 24 1,198 440 Cost per DVD

u Technology Co. manufactures DVDS for computer software and entertainment companies. Tu uses job order costing. ,900 DVDS, Job 423, for Diorama Pictures for $1.40 sales price per DVD. Tu promised to deliver the DVDS to Diorama Pictures by November 5. Tu incurred the pllowing direct costs: Click the icon to view the costs.) A (Click the icon to view additional information.) Read the requirements. Direct materials Direct labor Manufacturing overhead allocated Labor Time Requisition Record Date Number Amount Number Amount Date Rate Amount 11-3 145% of direct 24 372 655 $ 180 labor cost 11-2 63 11-2 64 700 Overall Cost Summary 126 656 260 Direct materials 1198 11-3 74 440 Direct labor Manufacturing overhead Allocated Total Job Cost Totals 24 1,198 440 Cost per DVD

Name: u Technology Co. manufactures DVDS for computer software and entertai
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Description: u Technology Co. manufactures DVDS for computer software and entertainment companies. Tu uses job order costing. On November 2, Tu began production of,900 DVDS, Job 423, for Diorama Pictures for $1.40 sales price per DVD. Tu promised to deliver the

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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Peter Co. Makes shirts that it sells to retailers. The company uses a job order costing system in which predetermined overhead rates are used to apply factory overhead cost to jobs. The predetermined rate in the Sewing department is based on machine hours and in Cutting department is based on direct labor cost. The following estimates are made at the beginning of the year: Sewing Cutting Direct labor hours 24,000 120,000 Machine hours 140,000 10,000 Direct material cost 1,020,000 1,300,000 Direct labor cost 260,000 840,000 FOH Cost 1,204,000…
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I am working on T accounts for the Polaris Company using a job-cost order and I am stuck on this attached problem. Can you show me how to find the missed problems. Thank you.
Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) $ 41,000 9,200 50,000 Indirect materials used Indirect labor used Other overhead costs End of Period $ 42,000 20,700 33,700 $ 176,000 150,000 8,000 34,500 117,500 Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period.
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Transcribed Image Text:A furniture-making business manufactures quality furniture to customers orders. It has three production departments (A, B and C) which have overhead absorption rates (per direct labour hour) of $12.86, $12.40 and $14.03 respectively. Two pieces of furniture are to be manufactured for customers. Direct costs are as follows. Job MNO Direct material Direct labour Job XYZ $154 20 hours dept A 12 hours dept B 10 hours dept C $108 16 hours dept A 10 hours dept B 14 hours dept C Labour rates are as follows: $3.80(A): $3.50 (B); $3.40 (C) Calculate the total cost of cach job the selling price if there is a markup of 25%
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