You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you 1 have been asked to develop and manufacture two new tables for customers. You will design and build the tables. The company does not have indirect materials. You will keep track of the costs incurred to manufacture the tables using Job #1 Cost Sheet and Job #2 Cost Sheet. The company uses a job order costing system and applies manufacturing overhead to jobs based on direct labor hours. The total estimated manufacturing overhead costs per month is $7,500. The company estimates that there will be 120 direct labor hours worked during the month. What is the predetermined overhead rate (POHR)?

You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you 1 have been asked to develop and manufacture two new tables for customers. You will design and build the tables. The company does not have indirect materials. You will keep track of the costs incurred to manufacture the tables using Job #1 Cost Sheet and Job #2 Cost Sheet. The company uses a job order costing system and applies manufacturing overhead to jobs based on direct labor hours. The total estimated manufacturing overhead costs per month is $7,500. The company estimates that there will be 120 direct labor hours worked during the month. What is the predetermined overhead rate (POHR)?

Name: You work for Thunderduck Custom Tables Inc. This is the first month o
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designsand manufactures specialty tables. Each table is specially customized for the customer. This month, youa 1 have been asked to develop and manufactu

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Vaughn Church Furniture manufactures custom pews, altars, and pulpits for churches across the southern United States. Since each order is unique, Vaughn uses a job order costing system. During the month of June, Vaughn worked on orders for three churches: Faith Church, Grace Church, and Hope Church. Production on the Faith and Grace orders began in May, and the Faith job was completed in June. Production on the Hope order began in June and was incomplete at the end of the month. Vaughn applies overhead to each job based on machine hours. Prior to the year, managers had estimated manufacturing overhead at $ 693,000, along with 21,000 machine hours. Additional cost information related to the three orders is as follows: Faith Grace Hope Beginning balance, June 1 $ 4,000 $ 2,800 Direct materials, June $ 8,300 $ 6,500 $ 4,000 Direct labor, June $ 13,000 $7,000 $ 5,500 Manufacturing OH, June ? ? Machine hours, June 2,200 1,300 1,400
Please show your work and please do use Excel so I can see answers and work clearly
Coronado Church Furniture manufactures custom pews, altars, and pulpits for churches across the southern United States. Since each order is unique, Coronado uses a job order costing system. During the month of June, Coronado worked on orders for three churches: Faith Church, Grace Church, and Hope Church. Production on the Faith and Grace orders began in May, and the Faith job was completed in June. Production on the Hope order began in June and was incomplete at the end of the month. Coronado applies overhead to each job based on machine hours. Prior to the year, managers had estimated manufacturing overhead at $888,000, along with 24,000 machine hours. Additional cost information related to the three orders is as follows: Faith Grace Hope Beginning balance, June 1 $4,000 $2,600 — Direct materials, June $8,200 $6,200 $3,600 Direct labor, June $13,800 $7,500 $5,500 Manufacturing OH, June ? ? ? Machine hours, June 2,000…
Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule
WoolCorp WoolCorp buys sheep’s wool from farmers. The company began operations in January of this year, and is making decisions on product offerings, pricing, and vendors. The company is also examining its method of assigning overhead to products. You’ve just been hired as a production manager at WoolCorp. Currently WoolCorp makes three products: (1) raw, clean wool to be used as stuffing or insulation; (2) wool yarn for use in the textile industry, and (3) extra-thick yarn for use in rugs. Upper management would like your recommendations regarding a production decision regarding their current and proposed product lines. Continue/Discontinue For the past year, WoolCorp has experimented with its third product, extra-thick rug yarn. The company wishes to consider whether to continue or discontinue manufacturing and selling this product. You decide to prepare a differential analysis of the income related to all three products. To begin your analysis, you review the following condensed…
Subject - account Please help me. Thankyou.
UPVOTE WILL BE GIVEN! INPUT THE COMPLETE SOLUTIONS. YOU MAY USE EXCEL. BOX THE FINAL ANSWERS. d. How much is the total cost for completed units? e. How much is the total cost to be accounted for?
Hardev
XYZ, Incorporated, makes foam seat cushions for the automotive and aerospace industries. The company's activity-based costing system has four activity cost pools, which are listed below along with their activity measures and activity rates: Activity Cost Pool Supporting direct labor Batch processing Order processing Customer service Activity Measure Number of direct labor-hours. Number of batches. Number of orders Number of customers The company just completed a single order from I Truck for 1,600 custom seat cushions. The order was produced in three batches. Each seat cushion required 0.3 direct labor-hours. The selling price was $141.80 per unit, the direct materials cost was $106 per unit, and the direct labor cost was $13.90 per unit. This was I Truck's only order during the year. Required: Calculate the customer margin on sales to I Truck for the year. Costs: Interstate Trucking Customer Margin-ABC Analysis Customer margin Activity Rate $10 per direct labor-hour $92 per batch $280…
Carib Tings & More does hand-crafted memorabilia for the tourism industry, in which each batch of items is a job. The company has a highly machine intensive production process, so it allocates manufacturing overhead based on machine hours. Carib Tings & More pre-determined overhead application rate for 2024 was computed from the following data:Total estimated factory overheads $2,400,000Total estimated machine hours 40,000At the end of May 2024, Carib Tings & More reported work in process inventory of $176,000.During June 2024, Carib Tings & More actually used 3,000 machine hours and recorded the following transactions.i) Purchased $324,000 worth of materials on account. Separately, Carib Tings & More paid a $2,500 bill for freight in.ii) Manufacturing wages incurred $400,000iii) Materials requisitioned (includes $30,000 of indirect materials) $420,000iv) Assigned manufacturing wages, 85% direct labour, 15% indirect labour v) Depreciation expense on factory…
Vaughn Church Furniture manufactures custom pews, altars, and pulpits for churches across the southern United States. Since each order is unique, Vaughn uses a job order costing system. During the month of June, Vaughn worked on orders for three churches: Faith Church, Grace Church, and Hope Church. Production on the Faith and Grace orders began in May, and the Faith job was completed in June. Production on the Hope order began in June and was incomplete at the end of the month. Vaughn applies overhead to each job based on machine hours. Prior to the year, managers had estimated manufacturing overhead at $ 693,000, along with 21,000 machine hours. Additional cost information related to the three orders is as follows: Faith Grace Hope Beginning balance, June 1 $ 4,000 $ 2,800 Direct materials, June $ 8,300 $ 6,500 $ 4,000 Direct labor, June $ 13,000 $7,000 $ 5,500 Manufacturing OH, June ? ? Machine hours, June 2,200 1,300 1,400
Rene is working with the operations manager to determine what the standard labor cost is for a spice chest. He has watched the process from start to finish and taken detailed notes on what each employee does. The first employee selects and mills the wood, so it is smooth on all four sides. This takes the employee 1 hour for each chest. The next employee takes the wood and cuts it to the proper size. This takes 30 minutes. The next employee assembles and sands the chest. Assembly takes 2 hours. The chest then goes to the finishing department. It takes 1.5 hours to finish the chest. All employees are cross-trained so they are all paid the same amount per hour, $14.50. A. What are the standard hours per chest? Standard hour per chest fill in the blank 1 hours B. What is the standard cost per chest for labor? Round your answer to two decimal places. Standard cost per chest $fill in the blank 2