Job order costing: Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service. Activity Based Costing: Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products. Simple Costing System: Simple costing system is one of method of costing to estimate the amount of allocating the overhead cost of resources to the associated product based on the total units manufacture of that product, machine and labor hour consumed to manufacture that product. To calculate: The revised indirect cost allocation rate per professional labor-hour.

Question

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Answer 1

Question

Chapter 5, Problem 5.31P

1.

To determine

Job order costing:

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Simple Costing System:

Simple costing system is one of method of costing to estimate the amount of allocating the overhead cost of resources to the associated product based on the total units manufacture of that product, machine and labor hour consumed to manufacture that product.

To calculate: The revised indirect cost allocation rate per professional labor-hour.

2.

To determine

To calculate: The costs of C Enterprises and S incorporation jobs if B Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool.

3.

To determine

To compare: The costs of C enterprise and S incorporation between 31P (Part2) and 32P (Part 2).

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Answer 2

Question

Chapter 5, Problem 5.31P

1.

To determine

Job order costing:

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Simple Costing System:

Simple costing system is one of method of costing to estimate the amount of allocating the overhead cost of resources to the associated product based on the total units manufacture of that product, machine and labor hour consumed to manufacture that product.

To calculate: The revised indirect cost allocation rate per professional labor-hour.

2.

To determine

To calculate: The costs of C Enterprises and S incorporation jobs if B Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool.

3.

To determine

To compare: The costs of C enterprise and S incorporation between 31P (Part2) and 32P (Part 2).

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 5, Problem 5.31P

1.

To determine

Job order costing:

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Simple Costing System:

Simple costing system is one of method of costing to estimate the amount of allocating the overhead cost of resources to the associated product based on the total units manufacture of that product, machine and labor hour consumed to manufacture that product.

To calculate: The revised indirect cost allocation rate per professional labor-hour.

2.

To determine

To calculate: The costs of C Enterprises and S incorporation jobs if B Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool.

3.

To determine

To compare: The costs of C enterprise and S incorporation between 31P (Part2) and 32P (Part 2).

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 5, Problem 5.31P

1.

To determine

Job order costing:

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Simple Costing System:

Simple costing system is one of method of costing to estimate the amount of allocating the overhead cost of resources to the associated product based on the total units manufacture of that product, machine and labor hour consumed to manufacture that product.

To calculate: The revised indirect cost allocation rate per professional labor-hour.

2.

To determine

To calculate: The costs of C Enterprises and S incorporation jobs if B Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool.

3.

To determine

To compare: The costs of C enterprise and S incorporation between 31P (Part2) and 32P (Part 2).

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 5, Problem 5.31P

1.

To determine

Job order costing:

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Simple Costing System:

Simple costing system is one of method of costing to estimate the amount of allocating the overhead cost of resources to the associated product based on the total units manufacture of that product, machine and labor hour consumed to manufacture that product.

To calculate: The revised indirect cost allocation rate per professional labor-hour.

2.

To determine

To calculate: The costs of C Enterprises and S incorporation jobs if B Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool.

3.

To determine

To compare: The costs of C enterprise and S incorporation between 31P (Part2) and 32P (Part 2).

Answer 6

Chapter 5, Problem 5.31P

1.

To determine

Job order costing:

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Simple Costing System:

Simple costing system is one of method of costing to estimate the amount of allocating the overhead cost of resources to the associated product based on the total units manufacture of that product, machine and labor hour consumed to manufacture that product.

To calculate: The revised indirect cost allocation rate per professional labor-hour.

Answer 7

Chapter 5, Problem 5.31P

1.

To determine

Job order costing:

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Simple Costing System:

Simple costing system is one of method of costing to estimate the amount of allocating the overhead cost of resources to the associated product based on the total units manufacture of that product, machine and labor hour consumed to manufacture that product.

To calculate: The revised indirect cost allocation rate per professional labor-hour.

Answer 8

2.

To determine

To calculate: The costs of C Enterprises and S incorporation jobs if B Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool.

Answer 9

2.

To determine

To calculate: The costs of C Enterprises and S incorporation jobs if B Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool.

Answer 10

3.

To determine

To compare: The costs of C enterprise and S incorporation between 31P (Part2) and 32P (Part 2).

Answer 11

3.

To determine

To compare: The costs of C enterprise and S incorporation between 31P (Part2) and 32P (Part 2).

Answer 12

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Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

Ch. 5 - What is broad averaging, and what consequences can...Ch. 5 - Why should managers worry about product...Ch. 5 - What is costing system refinement? Describe three...Ch. 5 - What is an activity-based approach to designing a...Ch. 5 - Describe four levels of a cost hierarchy.Ch. 5 - Why is it important to classify costs into a cost...Ch. 5 - What are the key reasons for product cost...Ch. 5 - Prob. 5.8Q Ch. 5 - Department indirect-cost rates are never...Ch. 5 - Prob. 5.10Q

To calculate: The costs of C Enterprises and S incorporation jobs if B Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool.

To compare: The costs of C enterprise and S incorporation between 31P (Part2) and 32P (Part 2).

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Chapter 5 Solutions