Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used as promotional items. Following are simplified job cost sheets for two separate job lots. Job 1 was for 250 units and Job 2 was for 300 units. Job Number Job 1 Materials $ 775 Labor 800 Overhead 1,200 57% Job Number Job 2 Materials $ 900 Labor Overhead 996 1,494 1-a. Compute total cost per unit for Job 1 and for Job 2. 1-b. Which job has a higher total cost per unit? 2-a. Compute direct materials cost per unit for each job. 2-b. Which job has a higher direct materials cost per unit? Complete this question by entering your answers in the tabs below. Req 1A Req 2A Req 28 Compute total cost per unit for Job 1 and for Job 2. Note: Round your answers to two decimal places. Job 1 Total cost per unit Req 18 Job 2

Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used as promotional items. Following are simplified job cost sheets for two separate job lots. Job 1 was for 250 units and Job 2 was for 300 units. Job Number Job 1 Materials $ 775 Labor 800 Overhead 1,200 57% Job Number Job 2 Materials $ 900 Labor Overhead 996 1,494 1-a. Compute total cost per unit for Job 1 and for Job 2. 1-b. Which job has a higher total cost per unit? 2-a. Compute direct materials cost per unit for each job. 2-b. Which job has a higher direct materials cost per unit? Complete this question by entering your answers in the tabs below. Req 1A Req 2A Req 28 Compute total cost per unit for Job 1 and for Job 2. Note: Round your answers to two decimal places. Job 1 Total cost per unit Req 18 Job 2

Name: Bell Company produces stainless steel drink tumblers, its only produc
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used aspromotional items. Following are simplified job cost sheets for two separate job lots. Job 1 was for 250 units and Job 2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used as promotional items. Following are simplified job cost sheets for two separate job lots. Job 1 was for 250 units and Job 2 was for 260 units. Job Number Job 1 Materials. Labor Overhead Job Number Job 2 Materials $ 403 780 936 Labor Overhead $ 425 750 900 1-a. Compute total cost per unit for Job 1 and for Job 2. 1-b. Which job has a higher total cost per unit? 2-a. Compute direct materials cost per unit for each job. 2-b. Which job has a higher direct materials cost per unit? Complete this question by entering your answers in the tabs below. Req 1A Total cost per unit Req 1B Req 2A Compute total cost per unit for Job 1 and for Job 2. (Round your answers to two decimal places.) Req 2B Job 1 Job 2
Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used as promotional items. Following are simplified job cost sheets for two separate job lots. Job 1 was for 250 units and Job 2 was for 300 units. Job Number Job 1 Materials Labor Overhead Job Number Job 2 Materials $ 775 800 1,200 Labor Overhead $ 900 996 1,494 1-a. Compute total cost per unit for Job 1 and for Job 2 1-b. Which job has a higher total cost per unit? 2-a. Compute direct materials cost per unit for each job. 2-b. Which job has a higher direct materials cost per unit?
Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used as promotional items. Following are simplified job cost sheets for two separate recently completed job lots. Job 1 was for 250 units and Job 2 was for 300 units. Job Number 1 Materials Labor Overhead Job Number 2 Materials Labor Overhead 250 units $ 875 840 1,260 1-a. Compute total cost per unit for Job 1 and for Job 2. 1-b. Which job has a higher total cost per unit? 2-a. Compute direct materials cost per unit for each job. 2-b. Which job has a higher direct materials cost per unit? Req 1A 300 units $ 1,020 1,044 1,566 Complete this question by entering your answers in the tabs below. Total cost per unit Req 1B Req 2A Req 2B Compute total cost per unit for Job 1 and for Job 2. (Round your answers to two decimal places.) Job 1 Job 2
Sporty Manufacturing Co. assembled the following cost data for job #26: (Click the icon to view the cost data.) What are the total manufacturing costs for job #26 if the company uses normal job costing? A. $209,100 B. $207,400 C. $209,700 D. $205,900 Cost Data Direct manufacturing labor Indirect manufacturing labor Equipment depreciation Other indirect manufacturing costs Direct materials Indirect materials Manufacturing overhead overapplied $ 100,000 17,000 600 1,000 85,000 3,800 2,300 X
Bell Company produces stainless steel drink tumblers, its only product. These tumblers are stamped with company logos and used as promotional items. Following are simplified job cost sheets for two separate recently completed job lots. Job 1 was for 250 units and Job 2 was for 300 units. Job Number 1 Materials Labor Overhead Job Number 2 Materials Labor Overhead 250 units $ 700 770 1,155 1-a. Compute total cost per unit for Job 1 and for Job 2. 1-b. Which job has a higher total cost per unit? 2-a. Compute direct materials cost per unit for each job. 2-b. Which job has a higher direct materials cost per unit? Req 1A 300 units $ 810 912 1,368 Complete this question by entering your answers in the tabs below. Reg 1B Req 2A Compute total cost per unit for Job 1 and for Job 2. (Round your answers to two decimal places.) Total cost per unit Req 2B Job 1 Job 2
A job cost sheet of Coronado Company is given below. Job Cost Sheet JOB NO. 469 Quantity 2,500 ITEM White Lion Cages Date Requested 7/2 FOR Todd Company Date Completed 7/31 Date DirectMaterials DirectLabor ManufacturingOverhead 7/10 $ 700 12 900 15 $ 400 $ 500 22 300 375 24 1,600 27 1,500 31 500 625 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost Answer the following questions.(a) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? Source Documents Direct materials select the source documentsselect the source documents Direct labor select the source documentsselect the source documents Manufacturing overhead select the source documentsselect…
Copr. Goed Cosmo Co. uses a job order costing system. Manufacturing overhead is applied using departmental overhead rates. Cosmo has two departments, mixing and bottling. Job A6 was recently completed. Data from the job cost card for job A6 is presented below. $180 direct material $210 direct labor $1.260 manufacturing overhead bottling department $690 manufacturing overhead mixing department Job A6 consists of 200 units. What is the cost per unit? $11.70 $1.95 $8.25 $5.40 SUBMIT
Blossom Company is working on two job orders. The job cost sheets show the following. Direct materials Direct labor Job 201 ASE $7,250 3,950 Job 202 Prepare the two summary entries to record the assignment of costs to Work in Process from the data on the job cost sheets. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) $8,900 8,250 (To assign materials to jobs) Account Titles and Explanation Debit Credit
Frary Corporation is a building contractor. Frary tracks product costs in its job cost system and uses board feet to apply overhead to jobs. Frary has calculated an overhead rate of $61.52 per board foot and they have recorded the following information for job number E4641: Direct labor hours: 45 Direct labor rate: $17.14 Direct material: $5,784.00 Total board feet: 243 The total cost of job number E4641 is: Select one: A. $20,733.36 B. $6,555.30 C. $5,862.66 D. $9,323.70 E. $21,504.66
Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Debit Credit 45,500 Work in Process Inventory Debit Credit 24,750 8,500 24,750 170,820 86,250 103,184 b. Indirect materials used c. Direct labor used Required 1 1. Compute the amount for each of the following. a. Direct materials used Required 2 Factory Wages Payable Debit Compute the amount for each of the following. a. Direct materials used b. Indirect materials used c. Direct labor used 126,500 Finished Goods Inventory Debit Credit 170,820 d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied overhead) 2. Compute the amount that overhead is overapplied or underapplied. Credit Complete this question by entering your answers in the tabs below. 86,250 40,750 d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied overhead) Compute the amount that…
Hager Inc. applies overhead based on direct labor cost using a job-order costing system. The company provided you with the following information: Estimated manufacturing overhead Estimated direct labor cost $42,000 $24,000 $45,500 $24,800 Actual manufacturing overhead Actual direct labor cost How much is the underapplied overhead?
account with the job cost sheets. (Use a T-account.) ce a job cost sheet epare entries for acturing costs. E2-3 A job order cost sheet for Lowry Company is shown below. 3, 4, 5), AP Job No. 92 For 2,000 Units Direct Materials Direct Labor Manufacturing Overhead Date Beg. bal. Jan. 1 5,100 5,000 6,000 6,000 8 12 8,000 6,400 25 2,000 27 4,000 3,200 13,000 18,000 14,700 Cost of completed job: Direct materials Direct labor Manufacturing overhead $13,000 18,000 14,700 Total cost $45,700 Unit cost ($45,700 2,000) $22.85 Instructions (a) D On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job? (2) If manufacturing overhead is applied on the basis of direct labor cost, what over- head rate was used in each year? (b) Prepare summary entries at January 31 to record the current year's transactions per- taining to Job No. 92. focturing cost data for Orlando Company, which uses a job…