4G+11:55ill 70%$43,200$46,400None of the aboveManagers at X company think machinehours is the best activity base formanufacturing overhead. The annualestimated of overhead costs was$1,025,000. The budgeted machine hoursfor the year totaled 20,000. The companyused 1,000 hours of processing on JobNo.102 during the period and incurredoverhead costs totaling $1,050,000. Howmuch overhead should be applied to JobNo.102? *$51,250$52,500$1,025None of the aboveIn a job order cost system a credit to 4G+11:55 E* ll 70%OvericautostS totamng y1,000,000. TIOWmuch overhead should be applied to JobNo.102? *$51,250$52,500$1,025None of the aboveIn a job order cost system, a credit toManufacturing Overhead will beaccompanied by a debit to: *Cost of Goods Manufactured.Finished Goods Inventory.Work in Process Inventory.None of the aboveX Company applies overhead on the basisof 150% of direct labor cost. Job No.105 ischarged with $100,000 of direct materialscosts and $120,000 of manufacturing

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Description: 4G+11:55ill 70%$43,200$46,400None of the aboveManagers at X company think machinehours is the best activity base formanufacturing overhead. The annualestimated of overhead costs was$1,025,000. The budgeted machine hoursfor the year totaled 20,000. T

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Managers at X company think machine hours is the best activity base for manufacturing overhead. The annual estimated of overhead costs was $1,025,000. The budgeted machine hours for the year totaled 20,000. The company used 1,000 hours of processing on Job No.102 during the period and incurred overhead costs totaling $1,050,000. How much overhead should be applied to Job No.102? * $51 250

Managers at X company think machine hours is the best activity base for manufacturing overhead. The annual estimated of overhead costs was $1,025,000. The budgeted machine hours for the year totaled 20,000. The company used 1,000 hours of processing on Job No.102 during the period and incurred overhead costs totaling $1,050,000. How much overhead should be applied to Job No.102? * $51 250

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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C Ltd has two departments A & B. Overhead is applied based on direct labour hours in department A and machine hours in department B. The following additional information is available: i) ii) iii) Budgeted Overheads Budgeted direct labour hours Budgeted direct labour cost Budgeted machine hours Department A Department B $300,000 $360,000 50,000 40,000 $240,000 $330,000 68,000 80,000 Compute the overhead rate for Department A. Compute the overhead rate for Department B. Given that the actual overheads were as follows Direct labour hours Direct labour cost Machine hours Actual overheads Dept. A 45,000 $60,000 25,000 $285,000 Dept. B 35,000 $50,000 75,000 $320,000 Calculate the under- or over-applied overheads for each department and for the organization as a whole.
A Company uses job order costing and has chosen machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 400,000 hours. The estimated variable overhead is $20 per machine hour and the estimated fixed overhead costs are $800,000. The predetermined overhead rate is: a. $2 b. $11 С. None of the answers given d. $40 е. $22
The managerial accountant at Sunny Manufacturing needs to determine how many costs are fixed costs and how many costs are variable costs in the organization. The managerial accountant reported the following information: Sunny Manufacturing Cost Report January – June 20XX Month Machine-Hours Total Costs January 1,800 $21,500 February 2,900 $23,200 March 1,000 $19,750 April 2,400 $21,000 May 3,400 $23,900
Provide Value For Blank of Question
Your company uses an activity-based costing system for its overhead costs. The following data is from its activity-based costing system. Activity Rates Cleaning $ 7.58 per hour Job support $20.74 per job Client support $25 per client One particular client requested 25 jobs during the year that required a total of 150 hours. For this service, the client was charged $2,000. What is customer margin for this client? (Round to the nearest dollar.) $ 345 $1,681 $1,656 $ 320
None of the above Managers at X company think machine hours is the best activity base for manufacturing overhead. The annual estimated of overhead costs was $1,025,000. The budgeted machine hours for the year totaled 20,000. The company used 1,000 hours of processing on Job No.102 during the period and incurred overhead costs totaling $1,050,000. How much overhead should be applied to Job No.102? * $51,250 O $52,500 O $1,025 O None of the above
Facebo... PIUK Lea se Lux Corporation uses a job cost system and has two production departments,X and Y. Budgeted manufacturing costs for the year are: Department X DepartmentY on Direct materials $1400,000 $200,000 Direct manufacturing labor $400,000 $1600,000 Manufacturing overhead $1200,000 $800,000 The actual material and labor costs charged to Job #512 were as follows: Total Direct maternals: $50,000 Direct labor: Department X Department Y s 16,000 $24,000 $40,000 Lux applies manufacturing overhead costs to jobs on the basis of direct manufacturing labor cost using departmental rates determined at the beginning of the year. For Department X, the manufacturing overhead allocation rate is: Select one: a. 300% b. 33% C. 100% d. 66%% 23°C uaio
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if job 10 consists of 50 units of product, what is the unit cost of this job?
The management of Winterroth Corporation would like to investigate the possibility of basing its predetermined overhead rate on activity at capacity. The Corporation's controller has provided an example to illustrate how this new system would work. In this example, the allocation base is machine-hours. Estimated at the Beginning of the Year Сapacity Actual Machine-hours 60,000 $1,849,400 70,000 56,000 Manufacturing overhead $1,849,400 $1,849,400 If the Corporation bases its predetermined overhead rate on capacity, then as shown on the income statement prepared for internal management purposes, the cost of unused capacity would be closest to: Multiple Choice $264,200 $369,880 $186,000 $123,293
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