Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation used $2,500 of direct materials and used $4,000 of direct labor. The job was not finished in September. An additional $3,000 of direct materials and $6,500 of direct labor were needed to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the total cost of the job when it is completed in October? Multiple Choice $37,000 $22,500 O $16,000 $32,000 $26,500

Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation used $2,500 of direct materials and used $4,000 of direct labor. The job was not finished in September. An additional $3,000 of direct materials and $6,500 of direct labor were needed to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the total cost of the job when it is completed in October? Multiple Choice $37,000 $22,500 O $16,000 $32,000 $26,500

Name: Job A3B was ordered by a customer on September 25. During the month o
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Description: Job A3B was ordered by a customer on September 25. During the month of September, JayceeCorporation used $2,500 of direct materials and used $4,000 of direct labor. The job was notfinished in September. An additional $3,000 of direct materials and $

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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DEF Co. uses a job costing system. Normal costing is used and factory overhead is applied on the basis of machine hours. At the beginning of the year, management estimated that the company would incur P1,007,500 of factory overhead costs and use 77,500 machine-hours. DEF Co. recorded the following events during the month of April: a) Purchased 180,000 pounds of materials on account; the cost was P2.50 per pound. b) Issued120,000 pounds of materials to production. Of this amount, 15,000 pounds were used as indirect materials. c) Direct labor costs incurred was P240,000 and indirect labor costs incurred were P50,000. d) Depreciation on equipment for the month amounted to P15,700. e) Insurance costs were P3,500 for the manufacturing property f) Paid 8,500 cash for utilities and other miscellaneous items for the manufacturing plant. g) Ob E5 costing P6,500 and Job F4 costing P77,00 were completed during the month and transferred to the Finished Goods account. h) Job F4 was shipped to the…
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Ahlia Industries allocates manufacturing overhead at a predetermined rate of 180% of direct labor cost. Any overallocated or underallocated overhead is closed to the cost of goods sold at the end of the month. Below is information on job 205 that was in process at the end of the month of October Direct materials $4,000 Direct labor $3,000 Allocated manufacturing overhead $4,800 Jobs 206, 207, and 208 were started in November. Direct materials that were used in November were $26,000 and direct labor costs were $21,000. For the month of November, actual manufacturing overhead was $32,0ro. The only job still in process on the last day of November was job 104 with the following costs: $3,000 for direct materials and $1,500 for direct labor. Instructions: Calculate the cost of goods manufacturered for November.
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Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $26,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Molding Fabrication 2,500 Estimated total fixed manufacturing overhead 1,500 $ 15,450 $ 2.50 $ 10,750 $ 1.70…
Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,700 of direct materials and used $4,200 of direct labor. The job was not finished by the end of September, but needed an additional $3,200 of direct materials and additional direct labor of $6,900 to finish the job in October. The company applies overhead at the end of each month at a rate of 150% of the direct labor cost incurred. What is the balance in the Work in Process account at the end of September relative to Job A3B? Multiple Choice $6,900 $5,900 $11,100 $13,200 $10,100
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On January 1, VYLGHA946 Corp. estimated its total overhead for the upcoming year to be $300,000 and its total machine hours to be 25,000. VYLGHA946's actual machine hours for the year were 28,360. The company uses job-order costing with machine hours as the allocation base. At the end of the year, the VYLGHA946's books reveal following actual results: Advertising Expense $9,200 (#ID18121) Direct Labor $22,000 Purchases of Raw Materials $17,200 Rent, Factory Building $51,900 Indirect Labor $54,500 Sales Commissions $9,600 Utilities, Factory $11,700 Maintenance, Factory Equipment $9,500 CEO Salary $7,500 Depreciation, Factory Equipment $14,000 Q. What is VYLGHA946's amount of over- or under-applied OH? (Enter just the amount.) A. $