Fundamental Accounting Principles
23rd Edition
ISBN: 9781259536359
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 19, Problem 18E
Exercise 19-18
A1
Hansel Corporation has requested bids from several architects to design its new corporate headquarters. Frey Architects is one of the firms bidding on the job. Frey estimates that the job will require the Mowing direct labor.
Frey apples
1. What is Frey;s estimated cost of the architectural job?
2. What bid would you suggest that Frey submit?
Check (1) $213,125
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Exercise 9
Engineer Co. is submitting a bid for a major job and estimates the following direct labor costs:
Engineers
Drafters
Staff
Hourly Rate
Hours
60 $ 250.00
40
$ 120.00
100
$
20.00
Engineer Co. has no direct material costs and applies overhead at a rate of 150% of direct labor cost.
It estimates the competition will bid between $63765 and $77935.
a) What is the estimated cost of direct labor for the job?
b) What is the estimated cost of the job(Labor & MOH)?
c) What should it bid to earn a 30% profit on cost?
JU
X
IX
JOB COSTING II
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Discussion Question
Miguel Manufacturing Company uses a predetermined manufacturing overhead rate based on direct
labor hours. At the beginning of 2023, they estimated total manufacturing overhead costs at
$2,352,000, and they estimated total direct labor hours at 7,000.
The administration and selling overheads are to be absorbed in each job cost at 15% of prime cost.
Distribution cost should be added to each job according to quotes from outside carriage companies.
The company wishes to quote for job # 222. Job stats are as follows:
Direct materials cost
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Direct labour hours
$173,250
$240,000
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Special Design Cost
Distribution quote from haulage company
Units of product produced
$8,750
$21,700
400 cartons
a) Compute Miguel's Manufacturing Company predetermined manufacturing overhead rate for
2023.
b) How much manufacturing overhead was allocated to Job #222?
c) Calculate the total cost & quotation price of Job #222, given that a…
Question No.8
King manufacturing has four categories of overhead. The four categories and expected overhead costs for each category for next year are as follows.
Maintenance Rs.70,000
Material Handling 30,000
Set-ups 25,000
Inspection 50,000
Currently, overhead is applied using a predetermined overhead rate based upon budgeted direct labor hours, 50,000 direct labor hour are budgeted for next year?
The company has been asked to submit a bid for a proposed job. The plant manager feels that obtaining this job would result in new business in future years. Usually, bids are based upon full manufacturing cost plus 30 percent.
Estimates for the proposed job are as follows:
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Direct labor (750 hours) Rs.3,750
Number of machine hours 300
Number of material moves 8…
Chapter 19 Solutions
Fundamental Accounting Principles
Ch. 19 - Prob. 1DQCh. 19 - Prob. 2DQCh. 19 - Prob. 3DQCh. 19 - Prob. 4DQCh. 19 - Prob. 5DQCh. 19 - Prob. 6DQCh. 19 - Prob. 7DQCh. 19 - Prob. 8DQCh. 19 - Prob. 9DQCh. 19 - Prob. 10DQ
Ch. 19 - Prob. 11DQCh. 19 - Prob. 12DQCh. 19 - Prob. 13DQCh. 19 - Prob. 14DQCh. 19 - Prob. 1QSCh. 19 - Prob. 2QSCh. 19 - Prob. 3QSCh. 19 - Prob. 4QSCh. 19 - Prob. 5QSCh. 19 - Prob. 6QSCh. 19 - Prob. 7QSCh. 19 - Prob. 8QSCh. 19 - Prob. 9QSCh. 19 - Manufacturing cost flows P1 P2 P3 Refer to the...Ch. 19 - Prob. 11QSCh. 19 - Prob. 12QSCh. 19 - Prob. 13QSCh. 19 - Prob. 14QSCh. 19 - Prob. 15QSCh. 19 - Prob. 1ECh. 19 - Prob. 2ECh. 19 - Prob. 3ECh. 19 - Prob. 4ECh. 19 - Prob. 5ECh. 19 - Prob. 6ECh. 19 - Prob. 7ECh. 19 - Prob. 8ECh. 19 - Prob. 9ECh. 19 - Prob. 10ECh. 19 - Prob. 11ECh. 19 - Prob. 12ECh. 19 - Prob. 13ECh. 19 - Prob. 14ECh. 19 - Prob. 15ECh. 19 - Prob. 16ECh. 19 - Prob. 17ECh. 19 - Exercise 19-18 Job order costing for services A1...Ch. 19 - Prob. 19ECh. 19 - Prob. 20ECh. 19 - Problem 19-1A
Production costs computed and...Ch. 19 - Prob. 2APSACh. 19 - Problem 19-3A
Source documents, journal entries,...Ch. 19 - Problem 19-4A
Overhead allocation and adjustment...Ch. 19 - Prob. 5APSACh. 19 - Prob. 1BPSBCh. 19 - Prob. 2BPSBCh. 19 - Prob. 3BPSBCh. 19 - Prob. 4BPSBCh. 19 - Prob. 5BPSBCh. 19 - The computer workstation furniture manufacturing...Ch. 19 - Prob. 1GLPCh. 19 - BTN 19-1 Manufacturers and merchandisers can apply...Ch. 19 - Prob. 2BTNCh. 19 - Assume that your company sells portable housing to...Ch. 19 - Prob. 4BTNCh. 19 - Prob. 5BTNCh. 19 - Prob. 6BTNCh. 19 - Refer to the chapter opener regarding Neha Assar...Ch. 19 - Prob. 8BTNCh. 19 - Apple and Samsung are competitors in the global...
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