X Company manufactures tables. The following pertains to Job No.100: Direct materials used $75,000 Direct labor hours worked 800 Direct labor rate per hour $16 Machine hours used 300 Applied factory overhead rate per direct labor hour $50 What is the total manufacturing cost for Job No.100? O $102,800 $127,800 O $87,800 None of the above

X Company manufactures tables. The following pertains to Job No.100: Direct materials used $75,000 Direct labor hours worked 800 Direct labor rate per hour $16 Machine hours used 300 Applied factory overhead rate per direct labor hour $50 What is the total manufacturing cost for Job No.100? O $102,800 $127,800 O $87,800 None of the above

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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USt or goods Will have to be increased by the amount of the over applied overhead. None of the above Managers at X company think machine hours is the best activity base for manufacturing overhead. The annual estimated overhead costs was $3,000.000. The annual estimated machine hours were 30,000 hours. The company used 60 hours of processing on Job No.102 during the period and incurred overhead costs totaling $2,850,000. How much overhead should be applied to Job No.102? $6,000 $5,700 $100 None of the above
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Sheridan Company manufactures customized desks. The following pertains to Job No. 978: Direct materials used $11450 Direct labor hours worked 560 Direct labor rate per hour $15.00 Machine hours used 500 Applied factory overhead rate per machine hour $22.00 What is the total manufacturing cost for Job No. 978? $36350 $29050 $30850 $32350
Keeton Company had the following data: Cost of materials used $60,000 Direct labor costs 58,000 Factory overhead 33,000 Work in process inventory, beginning 29,000 Work in process inventory, ending 18,000 Finished goods inventory, beginning 32,000 Finished goods inventory, ending 18,000 Determine the cost of goods sold.$fill in the blank 1
Melinda Corporation estimates its factory overhead based on direct labor hours. Melinda estimates FOH to be $1,750,000 and direct labor hours to be 500,000. Actual information is as follows: Sales Direct Labor Advertising Expense...... Indirect Materials. Direct Materials ************** $1,234,000 432,000 145,000 1,210,000 252,000 Indirect Labor 400,000 Depreciation Expense - Factory 185,000 Direct labor hours........... 510,000 (a) Calculate the predetermined overhead rate and calculate the overhead applied during the year. Show Journal Entry (b) Determine the amount of over- or underapplied overhead and state whether it was under or overapplied. Prepare the journal entry to eliminate the over- or underapplied overhead.
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Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Total manufacturing cost machine-hour Job P $ 23,400 $ 37,800 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication 3,020 1,080 4,100 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per Total Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machine- hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. WIWhat was the total manufacturing cost assigned to…
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 22,360 $36,120 Manufacturing overhead applied 2,970 1,030 4,000 Job P Job Q $ 13,760 $ 12,900 1,380 1,500 2,880 Job Q Molding 4,300 $ 17,200 $ 1.40 Fabrication 2,580 $25,800 $ 43,000 6,880 $ 2.20 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. Total 11. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not…
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QUESTION 4 4.1 Study the information given below and answer the following questions independently INFORMATION: Banco Limited produces a single product. The following budgeted information for 2021 is made available: Variable manufacturing costs per unit R85.24 Selling price per unit R246 Fixed manufacturing costs R4 552 000 Marketing Costs R648 000 plus 6% of sales Administration costs R320 000 plus R8 per unit sold The number of units expected to be produced and sold during 2021 is 45 000. 4.1.1 Calculate the expected break- even quantity for 2021 4.1.2 Calculate the sales volume required to achieve an operating profit of R2 4848 000 4.1.3 Suppose Banco Limited is considering a decrease of R18 per unit in the selling price of the product, With the expectation that this would increase the sales volume by 10%. Is this a good idea? Motivate your answer
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