1.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing
To calculate: Predetermined overhead rate
1.
Answer to Problem 1TF15
Predetermined overhead rate is $7.95
Explanation of Solution
Total manufacturing overhead cost Y
The total manufacturing overhead is $31800
Predetermined overhead rate is $7.95
2.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Manufacturing overhead applied to Job P and Q
2.
Answer to Problem 1TF15
Manufacturing overhead applied to Job P is $18,285 and Q is $13,515
Explanation of Solution
Manufacturing overhead applied to job P and Q
| Particular | Job P | Job Q | |
| a. | Predetermined overhead rate | $7.95 | $7.95 |
| b. | Actual machine hour used | 2300 | 1700 |
| Manufacturing overhead applied | $18,285 | $13,515 |
Manufacturing overhead applied to Job P is $18,285 and Q is $13,515
3.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Total
3.
Answer to Problem 1TF15
Total manufacturing cost applied to Job P
Explanation of Solution
Total manufacturing cost assigned to job P
| Particular | Amount $ |
| Direct materials | 13,000 |
| Direct labor | 21,000 |
| Manufacturing overhead | 18,285 |
| Total manufacturing cost | 52,285 |
Total manufacturing cost applied to Job P is $52,285
4.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: The unit product cost for job P
4.
Answer to Problem 1TF15
The unit product cost for job P is $2614.25
Explanation of Solution
Unit product cost:
The unit product cost for job P is $2614.25
5.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Total manufacturing cost applied to Job Q
5.
Answer to Problem 1TF15
Total manufacturing cost applied to Job Q is $29,015
Explanation of Solution
Total manufacturing cost assigned to job Q
| Particular | Amount $ |
| Direct materials | 8,000 |
| Direct labor | 7500 |
| Manufacturing overhead | 13,515 |
| Total manufacturing cost | 29,015 |
Total manufacturing cost applied to Job Q is $29,015
6.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: The unit product cost for job Q is $967.167
6.
Answer to Problem 1TF15
The unit product cost for job Q
Explanation of Solution
Unit product cost:
The unit product cost for job Q is $967.167
7.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Selling price per unit of job P and Job Q.
7.
Answer to Problem 1TF15
Selling price per unit of job P is $7705.65 and Job Q is $1740.90
Explanation of Solution
Selling price of Job P and Job Q
| Particular | Job P ($) | Job Q ($) |
| Total manufacturing cost | 52,285 | 29,015 |
| Markup (80% of total manufacturing cost) | 41,828 | 23,212 |
| Selling price of job 550 | 94,113 | 52,227 |
Selling price of job P is $94,113 and Q is $52,227
Selling price of P:
Selling price of Q:
Selling price per unit of job P is $7705.65 and Job Q is $1740.90
8.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Cost of goods sold.
8.
Answer to Problem 1TF15
Cost of goods sold is $81,300
Explanation of Solution
| Particular | Amount $ |
| Manufacturing cost of Job P | 52,285 |
| Manufacturing cost of Job Q | 29,015 |
| Cost of goods sold | 81,300 |
Thus, Cost of goods sold is $81,300
9.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Predetermined overhead rate in the molding department.
9.
Answer to Problem 1TF15
Predetermined overhead rate in the molding department is $12.20
Explanation of Solution
Total manufacturing overhead cost Y
The total manufacturing overhead for molding is $13,500
Predetermined overhead rate in the molding department is $5.40
For fabrication department:
Total manufacturing overhead cost Y
The total manufacturing overhead for molding is $18,300
Predetermined overhead rate in the molding department is $12.20
10.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Manufacturing overhead applied to Job P and Q
10.
Answer to Problem 1TF15
Manufacturing overhead applied to Job P is $9180 and Q is $4320
Explanation of Solution
Manufacturing overhead applied to job P and Q from molding department
| Particular | Job P | Job Q | |
| a. | Predetermined overhead rate | $5.40 | $5.40 |
| b. | Actual machine hour used | 2700 | 800 |
| Manufacturing overhead applied | $9180 | $4320 |
Manufacturing overhead applied to Job P is $9180 and Q is $4320
11.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Manufacturing overhead applied to Job P and Q
11.
Answer to Problem 1TF15
Manufacturing overhead applied to Job P is $7320 and Q is $$10,980
Explanation of Solution
Manufacturing overhead applied to job P and Q from fabrication
| Particular | Job P | Job Q | |
| a. | Predetermined overhead rate | $12.20 | $12.20 |
| b. | Actual machine hour used | 600 | 900 |
| Manufacturing overhead applied | $7320 | $10980 |
Manufacturing overhead applied to Job P is $7320 and Q is $$10,980
12.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Unit product
12.
Answer to Problem 1TF15
Unit product cost job P is $2,525
Explanation of Solution
Unit product cost of job P
| Particular | Amount $ |
| Direct materials | 13000 |
| Direct labor | 21000 |
| Manufacturing overhead | |
| Molding department | 9180 |
| Fabrication department | 7320 |
| Total manufacturing cost | 50500 |
| Number of units | 20 |
| Unit product cost | 2525 |
Unit product cost job P is $2,525
13.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Unit product cost job Q
13.
Answer to Problem 1TF15
Unit product cost job Q is $1027
Explanation of Solution
Unit product cost of job Q
| Particular | Amount $ |
| Direct materials | 8000 |
| Direct labor | 7500 |
| Manufacturing overhead | |
| Molding department | 4320 |
| Fabrication department | 10980 |
| Total manufacturing cost | 30800 |
| Number of units | 39 |
| Unit product cost | 1027 |
Unit product cost job Q is $1027
14.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Selling price for Job P and Job Q
14.
Answer to Problem 1TF15
Selling price for Job P is $4545 and Job Q is $1848
Explanation of Solution
Selling price of job P and Q
| Particular | Job P $ | Job Q $ |
| Total manufacturing cost | 50,500 | 30,800 |
| Markup (80% of Total manufacturing cost) | 40,400 | 24,640 |
| Selling price | 90,900 | 55,440 |
Selling price for Job P is $90,900 and Job Q is $55,440
Selling price per unit
| Particular | Job P $ | Job Q $ |
| Selling price | 90,900 | 55,440 |
| Number of units | 20 | 30 |
| Selling price per unit | 4545 | 1848 |
Selling price for Job P is $4545 and Job Q is $1848
15.
Introduction: Job costing is a technique of determine the cost of a manufacturing job rather than the process of the job. Manufacturing overhead is applied to product or job order is determined as predetermined overhead.
To calculate: Cost of goods sold.
15.
Answer to Problem 1TF15
Cost of goods sold is 81,300
Explanation of Solution
Cost of goods sold
| Particular | Amount $ |
| Manufacturing cost of job P | 50,500 |
| Manufacturing cost of job Q | 30,800 |
| Cost of goods sold | 81,300 |
Cost of goods sold is 81,300
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Chapter 3 Solutions
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