Job order costing : Job order costing is a method of cost accounting, in which cost is collected and accumulated for each job, work order, or project separately. Especially the job order costing is followed in organizations where customized goods are produced. Predetermined Manufacturing Overhead: Predetermined manufacturing overhead rate is the rate that has been worked out at the time of laying out the budget and the manufacturing overhead is applied using this rate. The predetermined rate and the activity uses is a source document used to assign the manufacturing overhead cost to each job. The predetermined rate is applied to the activity used. Suppose the manufacturing overhead is applied on machine hours the machine hours used for the particular job is multiplied by predetermined rate and this will be the amount assigned to that particular job. To ascertain: The source documents for direct materials, direct labor, and manufacturing overhead costs assigned to the job.

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Answer 1

Question

Chapter 20, Problem 20.6E

(a)(1)

To determine

Job order costing:

Job order costing is a method of cost accounting, in which cost is collected and accumulated for each job, work order, or project separately. Especially the job order costing is followed in organizations where customized goods are produced.

Predetermined Manufacturing Overhead:

Predetermined manufacturing overhead rate is the rate that has been worked out at the time of laying out the budget and the manufacturing overhead is applied using this rate. The predetermined rate and the activity uses is a source document used to assign the manufacturing overhead cost to each job.

The predetermined rate is applied to the activity used. Suppose the manufacturing overhead is applied on machine hours the machine hours used for the particular job is multiplied by predetermined rate and this will be the amount assigned to that particular job.

To ascertain: The source documents for direct materials, direct labor, and manufacturing overhead costs assigned to the job.

(2)

To determine

The manufacturing overhead rate for the year.

(3)

To determine

The total cost and unit cost of completed job.

(b)

To determine

To prepare: The journal entry to record the completion of the job.

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Answer 2

Question

Chapter 20, Problem 20.6E

(a)(1)

To determine

Job order costing:

Job order costing is a method of cost accounting, in which cost is collected and accumulated for each job, work order, or project separately. Especially the job order costing is followed in organizations where customized goods are produced.

Predetermined Manufacturing Overhead:

Predetermined manufacturing overhead rate is the rate that has been worked out at the time of laying out the budget and the manufacturing overhead is applied using this rate. The predetermined rate and the activity uses is a source document used to assign the manufacturing overhead cost to each job.

The predetermined rate is applied to the activity used. Suppose the manufacturing overhead is applied on machine hours the machine hours used for the particular job is multiplied by predetermined rate and this will be the amount assigned to that particular job.

To ascertain: The source documents for direct materials, direct labor, and manufacturing overhead costs assigned to the job.

(2)

To determine

The manufacturing overhead rate for the year.

(3)

To determine

The total cost and unit cost of completed job.

(b)

To determine

To prepare: The journal entry to record the completion of the job.

Expert Solution & Answer

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Answer 3

Question

Chapter 20, Problem 20.6E

(a)(1)

To determine

Job order costing:

Job order costing is a method of cost accounting, in which cost is collected and accumulated for each job, work order, or project separately. Especially the job order costing is followed in organizations where customized goods are produced.

Predetermined Manufacturing Overhead:

Predetermined manufacturing overhead rate is the rate that has been worked out at the time of laying out the budget and the manufacturing overhead is applied using this rate. The predetermined rate and the activity uses is a source document used to assign the manufacturing overhead cost to each job.

The predetermined rate is applied to the activity used. Suppose the manufacturing overhead is applied on machine hours the machine hours used for the particular job is multiplied by predetermined rate and this will be the amount assigned to that particular job.

To ascertain: The source documents for direct materials, direct labor, and manufacturing overhead costs assigned to the job.

(2)

To determine

The manufacturing overhead rate for the year.

(3)

To determine

The total cost and unit cost of completed job.

(b)

To determine

To prepare: The journal entry to record the completion of the job.

Expert Solution & Answer

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Answer 4

Question

Chapter 20, Problem 20.6E

(a)(1)

To determine

Job order costing:

Job order costing is a method of cost accounting, in which cost is collected and accumulated for each job, work order, or project separately. Especially the job order costing is followed in organizations where customized goods are produced.

Predetermined Manufacturing Overhead:

Predetermined manufacturing overhead rate is the rate that has been worked out at the time of laying out the budget and the manufacturing overhead is applied using this rate. The predetermined rate and the activity uses is a source document used to assign the manufacturing overhead cost to each job.

The predetermined rate is applied to the activity used. Suppose the manufacturing overhead is applied on machine hours the machine hours used for the particular job is multiplied by predetermined rate and this will be the amount assigned to that particular job.

To ascertain: The source documents for direct materials, direct labor, and manufacturing overhead costs assigned to the job.

(2)

To determine

The manufacturing overhead rate for the year.

(3)

To determine

The total cost and unit cost of completed job.

(b)

To determine

To prepare: The journal entry to record the completion of the job.

Expert Solution & Answer

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Answer 5

Chapter 20, Problem 20.6E

(a)(1)

To determine

Job order costing:

Job order costing is a method of cost accounting, in which cost is collected and accumulated for each job, work order, or project separately. Especially the job order costing is followed in organizations where customized goods are produced.

Predetermined Manufacturing Overhead:

Predetermined manufacturing overhead rate is the rate that has been worked out at the time of laying out the budget and the manufacturing overhead is applied using this rate. The predetermined rate and the activity uses is a source document used to assign the manufacturing overhead cost to each job.

The predetermined rate is applied to the activity used. Suppose the manufacturing overhead is applied on machine hours the machine hours used for the particular job is multiplied by predetermined rate and this will be the amount assigned to that particular job.

To ascertain: The source documents for direct materials, direct labor, and manufacturing overhead costs assigned to the job.

(2)

To determine

The manufacturing overhead rate for the year.

(3)

To determine

The total cost and unit cost of completed job.

(b)

To determine

To prepare: The journal entry to record the completion of the job.

Answer 6

Chapter 20, Problem 20.6E

(a)(1)

To determine

Job order costing:

Job order costing is a method of cost accounting, in which cost is collected and accumulated for each job, work order, or project separately. Especially the job order costing is followed in organizations where customized goods are produced.

Predetermined Manufacturing Overhead:

Predetermined manufacturing overhead rate is the rate that has been worked out at the time of laying out the budget and the manufacturing overhead is applied using this rate. The predetermined rate and the activity uses is a source document used to assign the manufacturing overhead cost to each job.

The predetermined rate is applied to the activity used. Suppose the manufacturing overhead is applied on machine hours the machine hours used for the particular job is multiplied by predetermined rate and this will be the amount assigned to that particular job.

To ascertain: The source documents for direct materials, direct labor, and manufacturing overhead costs assigned to the job.

Answer 7

Chapter 20, Problem 20.6E

(a)(1)

To determine

Job order costing:

Job order costing is a method of cost accounting, in which cost is collected and accumulated for each job, work order, or project separately. Especially the job order costing is followed in organizations where customized goods are produced.

Predetermined Manufacturing Overhead:

Predetermined manufacturing overhead rate is the rate that has been worked out at the time of laying out the budget and the manufacturing overhead is applied using this rate. The predetermined rate and the activity uses is a source document used to assign the manufacturing overhead cost to each job.

The predetermined rate is applied to the activity used. Suppose the manufacturing overhead is applied on machine hours the machine hours used for the particular job is multiplied by predetermined rate and this will be the amount assigned to that particular job.

To ascertain: The source documents for direct materials, direct labor, and manufacturing overhead costs assigned to the job.

Answer 8

(2)

To determine

The manufacturing overhead rate for the year.

Answer 9

(2)

To determine

The manufacturing overhead rate for the year.

Answer 10

(3)

To determine

The total cost and unit cost of completed job.

Answer 11

(3)

To determine

The total cost and unit cost of completed job.

Answer 12

(b)

To determine

To prepare: The journal entry to record the completion of the job.

Answer 13

(b)

To determine

To prepare: The journal entry to record the completion of the job.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 20 - Prob. 1Q Ch. 20 - Prob. 2Q Ch. 20 - Prob. 3Q Ch. 20 - Prob. 4Q Ch. 20 - Prob. 5Q Ch. 20 - Prob. 6Q Ch. 20 - Prob. 7Q Ch. 20 - Prob. 8Q Ch. 20 - Prob. 9Q Ch. 20 - Prob. 10Q

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The manufacturing overhead rate for the year.

The total cost and unit cost of completed job.

To prepare: The journal entry to record the completion of the job.

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