Direct materialsDirect labor costActual machine-hours used:MoldingFabricationTotalEstimated total machine-hours usedEstimated total fixed manufacturing overheadEstimated variable manufacturing overhead per machine-hourThe direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows:Job P$ 25,000$ 30,600Molding2,500$ 13,000$ 2.602,9001,8004,7005. What is the total manufacturing cost assigned to Job Q?Note: Do not round intermediate calculations.Total manufacturing costJob Q$ 14,000$ 12,300Fabrication1,500$ 16,800$ 3.402,0002,1004,100TotalSweeten Company had no overapplied or underapplied manufacturing overhead costs during the year.4,000$ 29,800Required:For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate withmachine-hours as the allocation base. For questions, 9-15, assume that the company usespredetermined departmental overhead rates with machine-hours as the allocation base in bothdepartments.

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Description: Direct materialsDirect labor costActual machine-hours used:MoldingFabricationTotalEstimated total machine-hours usedEstimated total fixed manufacturing overheadEstimated variable manufacturing overhead per machine-hourThe direct materials cost, dire

PREDETERMINED OVERHEAD RATEPredetermined rate means the indirect cost rate.Predetermined overhead…

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Estimated total machine-hours used Molding 2,500 Fabrication 1,500 Total 4,000 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour $ 13,000 $ 2.60 $ 16,800 $ 29,800 $ 3.40 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Job Q $ 14,000 $ 12,300 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 25,000 $ 30,600 5. What is the total manufacturing cost assigned to Job Q? Note: Do not round intermediate calculations. Total manufacturing cost 2,900 1,800 4,700 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. 2,000 2,100 4,100

Estimated total machine-hours used Molding 2,500 Fabrication 1,500 Total 4,000 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour $ 13,000 $ 2.60 $ 16,800 $ 29,800 $ 3.40 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Job Q $ 14,000 $ 12,300 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 25,000 $ 30,600 5. What is the total manufacturing cost assigned to Job Q? Note: Do not round intermediate calculations. Total manufacturing cost 2,900 1,800 4,700 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. 2,000 2,100 4,100

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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Job 53 at BV Fabrications required $200 of direct materials and 10 direct labour hours at $15 per hour. Estimated total overhead for the year was $760,000 and estimated direct labour hours were 20,000. What would be recorded as the cost of Job 53 assuming the company uses a normal costing system and DLH as cost driver? 1.$200 2.$350 3.$380 4.$730
Direct materials $ 41,000 Direct labor-hours 680 labor-hours Direct labor wage rate $ 13 per labor-hour Machine-hours 370 machine-hours Number of units completed 3,500 units The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $12 per machine-hour. Compute the unit product cost that would appear on the job cost sheet for this job.
#3 Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials. Direct labor-hours Direct labor wage rate Machine-hours Multiple Choice O $3.373 The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be: $5,207 $2,450 $6,047 S 71 labor-hours. 13 per labor-hour 131 machine-hours
Number of Direct Labor Hours Machine Hours Product Units Per Unit Per Unit Blinks 1,037 3 7 Dinks 2,059 6 6 All of the machine hours take place in the Fabrication department, which has an estimated overhead of $111,000. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $88,600. Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs. The single plantwide rate if it is based on machine hours instead of labor hours, is a.$23.41 per machine hour b.$12.72 per machine hour c.$8.14 per machine hour d.S10.18 per machine hour
Raw materials $9.800 Work in process 65,847 Finished goods 30,640 Work in process consisted of the following jobs: Job 22 Job 24 Job 25 $4,800 Direct materials $6,200 Direct labour $5,190 9,210 6,447 10,500 7,350 9,500 Applied overhead 6,650 Total $24,050 $20,847 $20,950 Number of units 20 40 30 Finished goods consisted of Job 23, with the following costs: Job 23 Direct materials $8,200 Direct labour 13,200 Applied overhead 9,240 Total $30,640 50 Number of units Shown below are the direct cost data related to jobs started in October: Direct materials Job 26 $5,180 $11,200 Job 27 Job 28 $5,600 $4,200 $9,340 $5,910 Total $14,980 $26,450 Direct labour Number of units 20 30 20
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Calculating Activity-Based Costing Overhead Rates Assume that manufacturing overhead for Glassman Company consisted of the following activities and costs: Setup (1,000 setup hours) $148,000 Production scheduling (400 batches) 64,000 Production engineering (60 change orders) 120,000 Supervision (2,000 direct labor hours) 56,000 Machine maintenance (12,000 machine hours) 84,000 Total activity costs $472,000 The following additional data were provided for Job 845 Direct materials costs $8,000 Direct labor cost (5 Milling direct labor hours; 35 Finishing direct labor hours) $2,000 Setup hours 5 hours Production scheduling 1 batch Machine hours used (25 Milling machine hours; 5 Finishing machine hours) 30 hours Production engineering 3 change orders a. Calculate the cost per unit of activity driver for each activity cost category. Setup Production scheduling cost Production engineering cost Supervision cost Machine…
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Total manufacturing cost machine-hour Job P $ 23,400 $ 37,800 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication 3,020 1,080 4,100 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per Total Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machine- hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. WIWhat was the total manufacturing cost assigned to…
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 22,360 $36,120 Manufacturing overhead applied 2,970 1,030 4,000 Job P Job Q $ 13,760 $ 12,900 1,380 1,500 2,880 Job Q Molding 4,300 $ 17,200 $ 1.40 Fabrication 2,580 $25,800 $ 43,000 6,880 $ 2.20 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. Total 11. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not…
2 Drilling Company uses activity-based costing and provides this information: Driver Rate $ 0.80 Manufacturing Activity Materials handling Machinery Assembly Inspection Cost Driver Number of parts Number of machine hours Number of parts Number of finished units 58.00 3.20 37.00 Drilling has just completed 87 units of a component for a customer. Each unit required 107 parts and 3.35 machine hours. The prime cost is $1,370 per finished unit. All other manufacturing costs are classified as manufacturing overhead. Required: 1. Compute the total manufacturing costs and the unit costs of the 87 units just completed using ABC costing. 2. In addition to the manufacturing costs, the firm has determined that the total cost of upstream activities, including research and development and product design, is $187 per unit. The total cost of downstream activities, such as distribution, marketing, and customer service, is $307 per unit. Compute the full product cost per unit, including upstream,…
Subject :- Accounting
Predetermined Factory Overhead Rate Road Runner Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts $810,000 Shop direct labor 770,000 Shop and repair equipment depreciation 64,000 Shop supervisor salaries 212,000 Shop property taxes 35,000 Shop supplies 18,000 Advertising expense 44,000 Administrative office salaries 73,400 Administrative office depreciation expense 12,000 Total costs and expenses $2,038,000 The average shop direct labor rate is $22 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour