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
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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

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A company uses job-order costing system with a pre-determined overhead rate based on the machine hours. The total machine hours are 64,000 hours. The variable manufacturing overhead per machine hour is $6 and the estimated total fixed manufacturing overheads cost is $704,000. The additional information for a job order “JOCS" is summarized as follows: Description Number of units Total machine hours Direct materials Direct labor costs 20 80 $1,400 $2,800 The company marks up it unit product costs by 25%. With the provided information, compute the selling price of the unit in JOCS. a. $347.50 b. $278 с. $295.94 d. $267.81
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Reilly Company Reilly Company uses a job-order costing system and the following information is available from its records. The company has three jobs in process: #8, #12, and #15. Raw material used Direct labor per hour Overhead applied based on direct labor cost Direct material was requisitioned as follows for each job respectively: 25 percent, 30 percent, and 30 percent; the balance of the requisitions was considered indirect. Direct labor hours per job are 2,800; 3,300; and 4,000; respectively. Indirect labor is $45,000. Other actual overhead costs totaled $50,000. Refer to Reilly Company. How much overhead is applied to Work in Process? Select one: O O O O $130,000 $9.50 125% a. $164,938 b. $95,000 c. $162,900 d. $119,938
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