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 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? Req 1A $ 403 780 936 Complete this question by entering your answers in the tabs below. 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 < Req 1A Req 1B >

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 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? Req 1A $ 403 780 936 Complete this question by entering your answers in the tabs below. 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 < Req 1A Req 1B >

Name: Bell Company produces stainless steel drink tumblers, its only produc
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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

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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
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Pratice Problem 2: A company's individual job sheets show these costs: A chart showing costs for Jobs 131, 132, and 133. Direct materials is RO 4585, RO 8723, and RO 1575 respectively. Direct labor is RO2385, RO 2498, and RO 2874, respectively. Overhead is applied at 1.25 times the direct labor cost. You are required to : Prepare an entry to record the assignment of direct materials to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process.
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Brooklyn Company produces leather bags for individual or corporates. On December 1, there were three jobs in process with the following costs attached below Questions : If overhead is applied on the basis of electricity consumed, what is the overhead rate? If overhead is applied on the basis of direct material consumed, what is the overhead rate? Please compute the overhead allocated for each job if the basis used is electricity consumed.
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At the end of Cavy Company had completed Jobs 766 and 765. The individual job cost sheets reveal the following information: JobDirect Materials Direct Machine Hours Job No. 765 $ 5,670 3,500 Job No. 8,900 4,775 44 Job 765 produced 152 units, and Job 766 consisted of 250 units. Assuming that the predetermined overhead rate is applied by using machine hours at a rate of 200 per hour. a. Determine the balance on the job cost sheets for each job Job 765 Job 766 b. Determine the cost per unit at the end of April. Round your answers to the nearest cent Job 765 Job 766
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