Horngren's Accounting, Student Value Edition (12th Edition)
12th Edition
ISBN: 9780134487151
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 18, Problem S18.4SE
Computing manufacturing
Learning Objective 2
Sunglasses Unlimited Company manufactures sunglasses Following is a list of costs the company incurred during May. Use the list to calculate the total
| Glue for frames | $ 250 |
| 4,000 | |
| Plant depreciation | 7,500 |
| Interest Expense | 1,500 |
| Lenses | 52,000 |
| Company president's salary | 24,500 |
| Plant foreman's salary | 3,500 |
| Plant janitor's wages | 1,300 |
| Oil for manufacturing equipment | 150 |
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Vk
eBook
Job Costs Using a Plantwide Overhead Rate
Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year was $270,000, and budgeted direct labor hours were 18,000. The average wage rate for direct labor is expected to be $30 per hour. During June, Naranjo Company worked on four jobs. Data relating to these four jobs follow:
Job 39
Job 40
Job 41
Job 42
Beginning balance
$26,100
$33,900
$17,800
$0
Materials requisitioned
19,500
23,000
8,000
14,100
Direct labor cost
10,600
20,100
2,650
5,000
Overhead is assigned as a percentage of direct labor cost. During June, Jobs 39 and 40 were completed; Job 39 was sold at 120 percent of cost. (Naranjo had originally developed Job 40 to order for a customer; however, that customer was near bankruptcy and the chance of Naranjo being paid was growing dimmer. Naranjo decided to hold Job 40 in inventory while the customer worked out its financial difficulties. Job 40 is the only job in…
eBook
Question Content Area
Job Cost Flows
Roseler Company uses a normal job-order costing system. The company has two departments through which most jobs pass. Overhead is applied using a plantwide overhead rate of $10 per direct labor hour. During the year, several jobs were completed. Data pertaining to one such job, Job 9-601, follow:
Direct materials
$12,000
Direct labor cost:
Department A (450 hours @ $18)
$8,100
Department B (120 hours @ $18)
$2,160
Machine hours used:
Department A
200
Department B
800
Units produced
1,000
Required:
1. Compute the total cost of Job 9-601.$fill in the blank 1
2. Compute the per-unit manufacturing cost for Job 9-601. Round your answer to two decimal places.$fill in the blank 2
For Requirements 3 and 4, assume that Roseler uses departmental overhead rates. In Department A, overhead is applied at the rate of $3 per direct labor hour. In Department B, overhead is applied at the rate of $7 per machine hour.
3.…
Chapter 18 Solutions
Horngren's Accounting, Student Value Edition (12th Edition)
Ch. 18 - Prob. 1QCCh. 18 - Prob. 2QCCh. 18 - Dunaway Company reports the following costs for...Ch. 18 - Which of the following is a direct cost of...Ch. 18 - Which of the following is not part of...Ch. 18 - Which of the following accounts does a...Ch. 18 - Questions 7 and 8 use the data that follow....Ch. 18 - Questions 7 and 8 use the data that follow....Ch. 18 - World-class businesses use which of these systems...Ch. 18 - Prob. 10QC
Ch. 18 - What is the primary purpose of managerial...Ch. 18 - List six differences between financial accounting...Ch. 18 - Explain the difference between line positions and...Ch. 18 - Explain the differences between planning,...Ch. 18 - Prob. 5RQCh. 18 - Describe a service company, and give an example.Ch. 18 - Describe a merchandising company, and give an...Ch. 18 - How do manufacturing companies differ from...Ch. 18 - List the three inventory accounts used by...Ch. 18 - Explain the difference between a direct cost and...Ch. 18 - What are the three manufacturing costs for a...Ch. 18 - Give five examples of manufacturing overhead.Ch. 18 - What are prime costs? Conversion costs?Ch. 18 - What are product costs?Ch. 18 - How do period costs differ from product costs?Ch. 18 - How is cost of goods manufactured calculated?Ch. 18 - How does a manufacturing company calculate cost of...Ch. 18 - How does a manufacturing company calculate unit...Ch. 18 - How does a service company calculate unit cost per...Ch. 18 - How does a merchandising company calculate unit...Ch. 18 - Prob. S18.1SECh. 18 - Prob. S18.2SECh. 18 - Distinguishing between direct and indirect costs...Ch. 18 - Computing manufacturing overhead Learning...Ch. 18 - Identifying product costs and period costs...Ch. 18 - Computing cost of goods sold, merchandising...Ch. 18 - Computing cost of goods sold and operating income,...Ch. 18 - Prob. S18.8SECh. 18 - Prob. S18.9SECh. 18 - Prob. S18.10SECh. 18 - S18-11 Matching business trends...Ch. 18 - Prob. S18.12SECh. 18 - Prob. E18.13ECh. 18 - Prob. E18.14ECh. 18 - Prob. E18.15ECh. 18 - Prob. E18.16ECh. 18 - Identifying differences between service,...Ch. 18 - Prob. E18.18ECh. 18 - Computing cost of goods manufactured Learning...Ch. 18 - Prob. E18.20ECh. 18 - Prob. E18.21ECh. 18 - Prob. E18.22ECh. 18 - Prob. E18.23ECh. 18 - Prob. E18.24ECh. 18 - Prob. P18.25APGACh. 18 - Classifying period costs and product costs...Ch. 18 - Calculating cost of goods sold for merchandising...Ch. 18 - Prob. P18.28APGACh. 18 - Preparing a schedule of cost of goods manufactured...Ch. 18 - Prob. P18.30APGACh. 18 - Prob. P18.31APGACh. 18 - Prob. P18.32APGACh. 18 - Prob. P18.33BPGBCh. 18 - Prob. P18.34BPGBCh. 18 - Prob. P18.35BPGBCh. 18 - Prob. P18.36BPGBCh. 18 - Prob. P18.37BPGBCh. 18 - Prob. P18.38BPGBCh. 18 - Prob. P18.39BPGBCh. 18 - Prob. P18.40BPGBCh. 18 - Prob. P18.41CTCh. 18 - Prob. P18.42CPCh. 18 - Prob. 18.1TIATCCh. 18 - Prob. 18.1DCCh. 18 - Prob. 18.1EI
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- eBook Print Item Question Content Area A company has the following transactions during the week. Purchase of $1,100 raw materials inventory Assignment of $400 of raw materials inventory to Job 5 Payroll for 25 hours with $1,250 assigned to Job 5 Factory utility bills of $760 Overhead applied at the rate of $10 per hour What is the cost assigned to Job 5 at the end of the week? $fill in the blank 1arrow_forwardQuestion 2: Ahlia Products Company uses an automated process to clean and polish its souvenir items. For March, the company had the following activities: Beginning work in process inventory Units placed in production Ending work in process inventory 80 items, 40% complete 200 units 160 items, 75% complete Beginning work-in-process direct materials S1,000 Beginning work-in-process conversion Direct materials added during month Direct manufacturing labor during month Factory overhead during month $1,000 $1,200 $900 $140 Direct materials are placed into production at the Ending of the process and conversion costs are incurred evenly throughout the process. Instructions: Prepare a production cost worksheet using the FIFO method.arrow_forwardeBook Recording Factory Labor Costs A summary of the time tickets for September is as follows: Job No. Amount Job No. Amount 4467 $8,300 4478 $29,980 4470 18,509 4480 33,532 4471 15,670 4497 21,995 Indirect labor 23,240 4501 5,976 a. Determine the amounts of factory labor costs transferred to Work in Process and Factory Overhead for September. Factory labor costs transferred to Work in Process $fill in the blank 1 Factory labor costs transferred to Factory Overhead $fill in the blank 2 b. Illustrate the effect on the accounts and financial statements of the factory labor costs transferred in (a). If no account or activity is affected, select "No effect" from the drop-down list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Balance Sheet Assets = Liabilities + Stockholders' Equity + = + fill in the blank 7 fill in the blank 8 fill in…arrow_forward
- Prepare a schedule of cost of goods manufactured for Gourmet Bones for the year ended December 31 2018. Goirmet Bones manufactured 17,900 units of its product in 2018. Compare the company's unit product cost for the year, rounded to the nearest cent.arrow_forwardHelparrow_forwardUse the following information for Brief Exercises 2-19 and 2-20: Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing 32,000 were put into production. Direct labor of 28,000 (10 workers 200 hours 14 per hour) was incurred. Manufacturing overhead equaled 60,000. By the end of the week, the company had manufactured 500 hockey sticks. Brief Exercise 2-19 Total Product Cost and Per-Unit Product Cost Refer to the information for Slapshot Company above. Required: 1. Calculate the total product cost for last week. 2. Calculate the per-unit cost of one hockey stick that was produced last week.arrow_forward
- COST ACCOUNTINGarrow_forwardeBook Print Item Steeler Towel Company estimates its overhead to be $490,000. It expects to have 140,000 direct labor hours costing $6,125,000 in labor and utilizing 14,000 machine hours. Calculate the predetermined overhead rate using: Round your answers to two decimal places. A. Direct labor hours $ per direct labor hour B. Direct labor dollars $ per direct labor dollar C. Machine hours per machine hourarrow_forwardh5arrow_forward
- Entries for Materials GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric Polyester filling Lumber Glue The materials purchased during June are summarized from the receiving reports as follows: Fabric Polyester filling Lumber Glue Job 601 $40,500 28,600 62,400 6,550 Materials were requisitioned to individual jobs as follows: Job 602 Job 603 $440,000 180,000 360,000 40,000 Fabric $205,000 110,000 130,000 Polyester Filling Lumber $75,000 $120,000 36,000 88,000 55,000 125,000 Glue Total $400,000 234,000 310,000arrow_forwardThe following information is available for Tomlin Company. April 1 April 30 Raw materials inventory $ 10,000 $ 14,000 Work in process inventory 5,000 3,500 Materials purchased in April $ 98,000 Direct labor in April 80,000 Manufacturing overhead in April 160,000 a.) Prepare the cost of goods manufactured schedule for the month of April.arrow_forwardeBook Recording Direct Labor and Factory Overhead Chamlee Industries Inc. manufactures recreational vehicles. Chamlee Industries uses a job order cost system. The time tickets from May jobs are summarized below. Job 5-100 $10,240 Job 5-101 6,240 Job 5-102 7,680 Job 5-103 4,640 Factory supervision 2,800 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $30 per direct labor hour. The direct labor rate is $35 per hour. a. Determine the total factory labor costs transferred to Work in Process and Factory Overhead for May. If required, round your answers to nearest dollar. Factory labor costs transferred to Work in Process $fill in the blank 1 Factory labor costs transferred to Factory Overhead $fill in the blank 2 b. Determine the amount of factory overhead applied to production for May. If required, round your interim calculation and final answer to nearest dollar.$fill in the blank 3 c. Illustrate the effects of the factory…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Managerial Accounting: The Cornerstone of Busines...AccountingISBN:9781337115773Author:Maryanne M. Mowen, Don R. Hansen, Dan L. HeitgerPublisher:Cengage Learning
Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub
Managerial Accounting: The Cornerstone of Busines...
Accounting
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Cengage Learning
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Cost Accounting - Definition, Purpose, Types, How it Works?; Author: WallStreetMojo;https://www.youtube.com/watch?v=AwrwUf8vYEY;License: Standard YouTube License, CC-BY