Wilmington Company has two manufacturing departments-Assembly and Fabrication. It considers all o costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginnis of data relates to one particular job completed during the year-Job Bravo. Estimated Data Manufacturing overhead coats Direct labor-hours Machine-hours Job Bravo Direct labor-hours Machine-hours Assembly $ 960,000 60,000 24,000 Fabrication Total $1,200,000 $2,160,000 Assembly Fabrication Total 13 18 5 13 36,000 120,000 Required: 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much be applied to Job Bravo? 2. If Wilmington uses departmental predetermined overhead rates with direct labor-hours as the allocat machine-hours as the allocation base in Fabrication, how much manufacturing overhead would be appli (Round your intermediate calculation to 2 decimal places.) 1. Plantwide manufacturing overhead applied to Job Bravo 2. Manufacturing overhead applied from Assembly to Job Bravo Manufacturing overhead applied from Fabrication to Job Bravo Total departmental manufacturing overhead applied to Job Bravo 96,000 144,000 $ 0
Wilmington Company has two manufacturing departments-Assembly and Fabrication. It considers all o costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginnis of data relates to one particular job completed during the year-Job Bravo. Estimated Data Manufacturing overhead coats Direct labor-hours Machine-hours Job Bravo Direct labor-hours Machine-hours Assembly $ 960,000 60,000 24,000 Fabrication Total $1,200,000 $2,160,000 Assembly Fabrication Total 13 18 5 13 36,000 120,000 Required: 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much be applied to Job Bravo? 2. If Wilmington uses departmental predetermined overhead rates with direct labor-hours as the allocat machine-hours as the allocation base in Fabrication, how much manufacturing overhead would be appli (Round your intermediate calculation to 2 decimal places.) 1. Plantwide manufacturing overhead applied to Job Bravo 2. Manufacturing overhead applied from Assembly to Job Bravo Manufacturing overhead applied from Fabrication to Job Bravo Total departmental manufacturing overhead applied to Job Bravo 96,000 144,000 $ 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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Transcribed Image Text:Wilmington Company has two manufacturing departments-Assembly and Fabrication. It considers all of its manufacturing overhead
costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set
of data relates to one particular job completed during the year-Job Bravo.
Estimated Data
Manufacturing overhead coats
Direct labor-houre
Machine-hours
Job Bravo
Direct labor-hours
Machine-hours
Assembly
$ 960,000
50,000
24,000
Fabrication
Total
$1,200,000 $2,160,000
Assembly Fabrication Total
5
18
13
5
13
36,000
120,000
Required:
1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would
be applied to Job Bravo?
96,000
144,000
2. If Wilmington uses departmental predetermined overhead rates with direct labor-hours as the allocation base in Assembly and
machine-hours as the allocation base in Fabrication, how much manufacturing overhead would be applied to Job Bravo?
(Round your intermediate calculation to 2 decimal places.)
1. Plantwide manufacturing overhead applied to Job Bravo
2. Manufacturing overhead applied from Assembly to job Bravo
Manufacturing overhead applied from Fabrication to Job Bravo
Total departmental manufacturing overhead applied to Job Bravo
S 0
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