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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! Required information 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. Beginning of period $ 45,000 9,600 68,000 End of Period Inventories Raw materials Work in process Finished goods $ 45,000 19,000 33,500 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. X Answer is not complete. No Transaction General Journal…
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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%
Predetermined Factory Overhead Rate Road Runner Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $22 per hour. $1,054,900 770,000 39,700 110,400 20,000 15,400 21,100 90,700 11,600 $2,133,800 Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour