HAS-18392 Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $15.00 per hour. During the year, the company started and completed only two jobs-Job Teta, which used 64,500 direct labor-hours, and Job Gamma. The job cost sheets for these two jobs are shown below: Job Teta Direct materials Direct labor Manufacturing overhead applied Total job cost ? ? ? $ 2,359,500 Job Gamma Direct materials Direct labor Manufacturing overhead applied Total job cost $ 351,200 408,000 544,000 $ 1,303,200 How much is the direct materials cost for Job Teta? 967,500 1,069,500 1,290,000 102,000

HAS-18392 Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $15.00 per hour. During the year, the company started and completed only two jobs-Job Teta, which used 64,500 direct labor-hours, and Job Gamma. The job cost sheets for these two jobs are shown below: Job Teta Direct materials Direct labor Manufacturing overhead applied Total job cost ? ? ? $ 2,359,500 Job Gamma Direct materials Direct labor Manufacturing overhead applied Total job cost $ 351,200 408,000 544,000 $ 1,303,200 How much is the direct materials cost for Job Teta? 967,500 1,069,500 1,290,000 102,000

Name: HAS-18392 Company uses a job-order costing system. Its plantwide pred
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: HAS-18392 Company uses a job-order costing system. Its plantwide predetermined overhead rateuses direct labor-hours as the allocation base. The company pays its direct laborers $15.00 per hour.During the year, the company started and completed only

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

Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 30,000 $ 252,000 $ 2.10 Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T687 was completed with the following characteristics: Number of units in the job 10 Total machine-hours 30 $ 675 $ 1,050 Direct materials Direct labor cost The of overhead applied to Job T687 is closest to: your intermediate calculations decimal places.) Multiple Choice $315 $252 $378 $63
Computing Total Job Costs and Unit Product Costs Using a Plantwide Predetermined Overhead Rate Mickley Company’s plantwide predetermined overhead rate is $14.00 per direct labor-hour and its direct labor wage rate is $ 17.00 per hour. The following information pertains to Job A-500: Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 40 units, what is the unit product cost for this job?
s
Hilltop Manufacturing uses a predetermined manufacturing overhead rate based on machine hours to allocate manufacturing overhead to jobs. Selected data about the company's operations follows: Actual manufacturing overhead cost $500,000 Estimated manufacturing overhead cost $550,000 Estimated direct labor cost $175,800 Estimated direct labor hours 50,500 Actual direct labor hours 60,700 Estimated machine hours 40,600 Actual machine hours 35,800 By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.)
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $188,870. Estimated direct labor cost was $456,280 for 18,700 hours. Actual costs for the most recent month are summarized here: Item Description Direct labor (1,500 hours) Indirect costs Indirect labor Indirect materials. Factory rent Factory supervision Factory depreciation Factory janitorial work Factory insurance General and administrative salaries Selling expenses 3. Calculate actual manufacturing overhead costs. 4. Compute over- or underapplied overhead. Required: 1. Calculate the predetermined overhead rate. 2. Calculate the amount of applied manufacturing overhead. 89 Complete this question by entering your answers in the tabs below. SEP Total Cost $ 45,629 84 2,570 3,460 3,240 4,760 5,680 1,230 1,830 4,260 5,380 TAO O
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials Direct labor cost Multiple Choice If the company marks up its unit product costs by 40% then the selling price for a unit in Job T687 is closest to: Note: Round your intermediate calculations to 2 decimal places. O O $113.60 $754.00 $397.60 10 30 $ 690 $ 1,370 $288.40 30,500 $ 610,000 $ 6.00
A company uses job-order costing and allocates overhead costs using direct labor hours as the cost driver. At the beginning of the year, the company estimated that its total overhead cost for the year would be $593,000 and its total direct labor hours would be 1,000. During the year, Job X21 incurred $171,000 of material costs, $4,500 of direct labor cost, and 120 direct labor hours. What is the full manufacturing cost for this job? (Round to the nearest dollar.)
Malcolm Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. The estimates for the year were: Manufacturing overhead $16,240 Direct labor hours 11,600 The actual results for the year were: Manufacturing overhead $21,700 Direct labor hours 13,000 The cost records for the year will show Group of answer choices Overapplied overhead of $5,460. Underapplied overhead of $5,460 Overapplied overhead of $ 3,500. Underapplied overhead of $3,500
Harootunlan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T629 was completed with the following characteristics: Number of units in the job Total machine-hours The amount of overhead applied to Job T629 is closest to: Multiple Choice $1,620 $780 O $1,200 50 200 O $420 80,000 $ 312,000 $ 2.10 K
Valvano Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $340,000, variable manufacturing overhead of $2.20 per machine-hour, and 30,000 machine-hours. The estimated total manufacturing overhead is closest to: 1. $406,000 2. $375,000 3. $420,000 4. $340,000
Muscat Sayarati Co. uses a job-order costing system with a single plantwide predetermined overhead rate based on labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $525,000, variable manufacturing overhead of $6.00 per labor-hour, and 35,000 labor-hours. The job sheet of Job G828 shows that the number of units in this job order is 45 units which incurred total of 90 labor-hours. This job consumed $14/unit of direct materials cost and $64/unit of direct labor costs. What would be the total ?cost for Job G828 approximately $4,185 .a O $5,400 .b O $4,860 .C $4,455 .d O None of the given answers .e XYZ has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production denartment The Forming Denartment's
tion A Company uses a job-order costing system with a single plantwide predetermined overhead rate based on labor- hours. The company based its predetermined overhead rate for the current year on total estimated manufacturing overhead cost of $120,000 and 4,000 labor-hours. The job sheet of Job1112 shows that the number of units produced in this job order is 5 units. This job required 500 labor-hours and incurred direct materials cost of $5,000 and direct labor costs of $15,500. The unit product cost for Job1112 is: d out of a. $28,100 O b. $2,000 O c. None of the given answers. O d. $7,100 O e. $35,500