An overview diagram of P job costing system.

Question

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Answer 1

Question

Chapter 4, Problem 4.31P

1.

To determine

To prepare: An overview diagram of P job costing system.

2.

To determine

The budgeted manufacturing overhead rate of machining department and of finishing department.

Given information:

For machining department:

Budgeted manufacturing overhead cost is $9,065,000.

Budgeted machine hour is 185,000.

For finishing department:

Budgeted manufacturing overhead cost is $8,181,000.

Budgeted direct manufacturing labor cost is $4,050,000.

3.

To determine

To compute: The total manufacturing overhead cost allocated.

4.

To determine

To compute: The cost per unit.

5.

To determine

To compute: The under or over allocated manufacturing overhead of both the department.

6.

To determine

To explain: The reason P uses 2 different manufacturing overhead cost in job costing system.

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Question: The 2020 balance sheet of Serena's Sports Gear, Inc., showed long-term debt of $4.5 million, and the 2021 balance sheet showed long-term debt of $5.1 million. The 2021 income statement showed an interest expense of $135,000. What was the firm's cash flow to creditors during 2021?

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Answer 2

Question

Chapter 4, Problem 4.31P

1.

To determine

To prepare: An overview diagram of P job costing system.

2.

To determine

The budgeted manufacturing overhead rate of machining department and of finishing department.

Given information:

For machining department:

Budgeted manufacturing overhead cost is $9,065,000.

Budgeted machine hour is 185,000.

For finishing department:

Budgeted manufacturing overhead cost is $8,181,000.

Budgeted direct manufacturing labor cost is $4,050,000.

3.

To determine

To compute: The total manufacturing overhead cost allocated.

4.

To determine

To compute: The cost per unit.

5.

To determine

To compute: The under or over allocated manufacturing overhead of both the department.

6.

To determine

To explain: The reason P uses 2 different manufacturing overhead cost in job costing system.

Expert Solution & Answer

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Answer 3

Question

Chapter 4, Problem 4.31P

1.

To determine

To prepare: An overview diagram of P job costing system.

2.

To determine

The budgeted manufacturing overhead rate of machining department and of finishing department.

Given information:

For machining department:

Budgeted manufacturing overhead cost is $9,065,000.

Budgeted machine hour is 185,000.

For finishing department:

Budgeted manufacturing overhead cost is $8,181,000.

Budgeted direct manufacturing labor cost is $4,050,000.

3.

To determine

To compute: The total manufacturing overhead cost allocated.

4.

To determine

To compute: The cost per unit.

5.

To determine

To compute: The under or over allocated manufacturing overhead of both the department.

6.

To determine

To explain: The reason P uses 2 different manufacturing overhead cost in job costing system.

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 4.31P

1.

To determine

To prepare: An overview diagram of P job costing system.

2.

To determine

The budgeted manufacturing overhead rate of machining department and of finishing department.

Given information:

For machining department:

Budgeted manufacturing overhead cost is $9,065,000.

Budgeted machine hour is 185,000.

For finishing department:

Budgeted manufacturing overhead cost is $8,181,000.

Budgeted direct manufacturing labor cost is $4,050,000.

3.

To determine

To compute: The total manufacturing overhead cost allocated.

4.

To determine

To compute: The cost per unit.

5.

To determine

To compute: The under or over allocated manufacturing overhead of both the department.

6.

To determine

To explain: The reason P uses 2 different manufacturing overhead cost in job costing system.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 4, Problem 4.31P

1.

To determine

To prepare: An overview diagram of P job costing system.

2.

To determine

The budgeted manufacturing overhead rate of machining department and of finishing department.

Given information:

For machining department:

Budgeted manufacturing overhead cost is $9,065,000.

Budgeted machine hour is 185,000.

For finishing department:

Budgeted manufacturing overhead cost is $8,181,000.

Budgeted direct manufacturing labor cost is $4,050,000.

3.

To determine

To compute: The total manufacturing overhead cost allocated.

4.

To determine

To compute: The cost per unit.

5.

To determine

To compute: The under or over allocated manufacturing overhead of both the department.

6.

To determine

To explain: The reason P uses 2 different manufacturing overhead cost in job costing system.

Answer 6

Chapter 4, Problem 4.31P

1.

To determine

To prepare: An overview diagram of P job costing system.

Answer 7

Chapter 4, Problem 4.31P

1.

To determine

To prepare: An overview diagram of P job costing system.

Answer 8

2.

To determine

The budgeted manufacturing overhead rate of machining department and of finishing department.

Given information:

For machining department:

Budgeted manufacturing overhead cost is $9,065,000.

Budgeted machine hour is 185,000.

For finishing department:

Budgeted manufacturing overhead cost is $8,181,000.

Budgeted direct manufacturing labor cost is $4,050,000.

Answer 9

2.

To determine

The budgeted manufacturing overhead rate of machining department and of finishing department.

Given information:

For machining department:

Budgeted manufacturing overhead cost is $9,065,000.

Budgeted machine hour is 185,000.

For finishing department:

Budgeted manufacturing overhead cost is $8,181,000.

Budgeted direct manufacturing labor cost is $4,050,000.

Answer 10

3.

To determine

To compute: The total manufacturing overhead cost allocated.

Answer 11

3.

To determine

To compute: The total manufacturing overhead cost allocated.

Answer 12

4.

To determine

To compute: The cost per unit.

Answer 13

4.

To determine

To compute: The cost per unit.

Answer 14

5.

To determine

To compute: The under or over allocated manufacturing overhead of both the department.

Answer 15

5.

To determine

To compute: The under or over allocated manufacturing overhead of both the department.

Answer 16

6.

To determine

To explain: The reason P uses 2 different manufacturing overhead cost in job costing system.

Answer 17

6.

To determine

To explain: The reason P uses 2 different manufacturing overhead cost in job costing system.

Answer 18

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Answer 19

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Answer 20

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Answer 21

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An overview diagram of P job costing system.

To prepare: An overview diagram of P job costing system.

To compute: The total manufacturing overhead cost allocated.

To compute: The cost per unit.

To compute: The under or over allocated manufacturing overhead of both the department.

To explain: The reason P uses 2 different manufacturing overhead cost in job costing system.

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Chapter 4 Solutions