Fake Inc. uses a job order costing system and the following information is available from the records.the company has 3 jobs in process: 281, 282 and 83. Raw materials used 120,000.00 Direct labor hour 8.50 Overhead applied based on direct labor cost 130% Direct materials were requisitioned as follows for each job respectively: 30%, 25% and 25%, the balance of the requisitions were considered indirect. Direct labor hours per job are 2,500, 3,100, and 4,200 respectively. indirect labor is P33,000.Other actual overhed costs totaled P36,000

Q: Class what are the two types of manufacturing overhead? How do they affect the manufacturing…

A: The objective of the question is to understand the two types of manufacturing overhead and how they…

Q: What is the role of materials requisition forms in a job-order costing system? Time tickets?…

A: A job costing system must be capable of determining the amount of direct supplies, direct labor, and…

Q: How does the production order record provide a control over the quantity of materials used in…

A: A production order is an order issued in a company to produce a particular quantity of materials…

Q: T, F. Prime cost consists of Direct Materials and Factory Overhead.

A: Prime cost is a combination of direct attributes i.e primarily incurred for the product.

Q: how do I find total over- or underapplied fixed manufacturing overhead?

A: Overhead: Overhead refers to the costs, which are utilized in business activities, however cannot be…

Q: Which of these are factory overhead

A: Factory overhead includes:     Rent cost on factory equipment     Factory utilities…

Q: How is predetermined overhead rate established? How is it used to apply overhead?

A:

Q: how to calculate average labor time?

A: Lets understand the basics. Direct material and direct labor is required to produce goods or…

Q: Explain how predetermined factory overhead rates are computed and why they are used to apply factory…

A: Factory overhead: Factory overhead is the indirect cost consisting of indirect material, indirect…

Q: al factory overhead

A: Overapplied or underapplied overhead is the differnce between actual overhead and applied overhead.

Q: What are the differences between Underapplied Factory Overhead and Overapplied Factory Overhead?

A: Overhead: Overhead cost means expenses referred to indirect cost. The overhead cost like rent,…

Q: how do i calculate allocated manufacturing overhead by department

A: Manufacturing overhead: The cost incurred in production process other than the cost of direct…

Q: what is the Total factory overhead cost variance?

A: Cost variance is the variance which is measured by the company so that the decision and it can be…

Q: How do you calculate the predetermined overhead rate do you have an example

A: An allocation rate used to estimate the manufacturing costs is termed as predetermined overhead…

Q: What are the two types of manufacturing overhead? How do they affect the manufacturing overhead…

A: Manufacturing Expenses or Overhead are the indirect type of costs that a business incurs. These…

Q: What are the two primary elements that influence the amount of overhead that is absorbed?

A: Whenever overheads are absorbed in a rate determined by objective data, the absorbed overhead should…

Q: Explain how overhead is assigned to production when a predetermined overhead rate is used?

A: Overhead is kind of cost or expenditure which is not directly related to manufacturing but somehow…

Q: Describe the types of manufacturing overhead.

A: Manufacturing Expenses or Overhead are the indirect type of costs that a business incurs for a…