Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor- hours. The company based its predetermined overhead rate for the current year on 46,000 direct labor-hours, total fixed manufacturing overhead cost of $322,000, and a variable manufacturing overhead rate of $4.80 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data: Total direct labor-hours Direct materials Direct labor cost 400 $ 800 $ 6,300 Required: Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%. (Round intermediate calculations and final answer to 2 decimal places.) Selling price per unit

Kostelnik 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 $237,000, variable manufacturing overhead of $3.90 per machine-hour, and 30,000 machine-hours. The company has provided the following data concerning Job A496 which was recently completed: Number of units in the job Total machine-hours Direct materials Direct labor cost 20 80 $ 500 $ 2,160 If the company marks up its unit product costs by 40% then the selling price for a unit in Job A496 is closest to: Note: Round your intermediate calculations to 2 decimal places.

The Oliver Company manufactures products in two departments: Mixing and Packaging. The company allocates manufacturing overhead using a single plantwide rate with direct labor hours as the allocation base. Estimated overhead costs for the year are $748,000, and estimated direct labor hours are 340,000. In October, the company incurred 30,000 direct labor hours. Read the requirements. Requirement 1. Compute the predetermined overhead allocation rate. Round to two decimal places. Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate. (Abbreviation used; qty = Requirement 2. Determine the amount of overhead allocated in October. Predetermined OH allocation rate Begin by selecting the formula to allocate overhead costs. (Abbreviation used; qty = quantity.) Allocated mfg. = overhead costs The overhead allocated in October is quantity.)

Garza Corporation has two production departments, Casting and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department’s predetermined overhead rate is based on machine-hours and the Customizing Department’s predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates:     Casting Customizing Machine-hours 23,000 15,000 Direct labor-hours 7,000 7,000 Total fixed manufacturing overhead cost $ 82,800 $ 30,100 Variable manufacturing overhead per machine-hour $ 1.40   Variable manufacturing overhead per direct labor-hour   $ 4.70   The estimated total manufacturing overhead for the Customizing Department is closest to:

Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system and applies overhead cost to jobs on the basis of machine-hours. At the beginning of the year, the company used a cost formula to estimate that it would incur $4,354,800 in manufacturing overhead cost at an activity level of 573,000 machine-hours. The company spent the entire month of January working on a large order for 12,600 custom-made machined parts. The company had no work in process at the beginning of January. Cost data relating to January follow: a. Raw materials purchased on account, $310,000. b. Raw materials used in production, $267.000 (80% direct materials and 20% indirect materials). c. Labor cost accrued in the factory, $177,000 (one-third direct labor and two-thirds indirect labor). d. Depreciation recorded on factory equipment, $63,600. e. Other manufacturing overhead costs incurred on account, $85,400 1. Manufacturing overhead cost was applied…

Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $129,000 of manufacturing overhead for an estimated allocation base of $86,000 direct material dollars to be used in production. The company has provided the following data for the just completed year:         Purchase of raw materials $ 140,000 Direct labor cost $ 82,000 Manufacturing overhead costs:     Indirect labor $ 148,100 Property taxes $ 8,600 Depreciation of equipment $ 18,000 Maintenance $ 12,000 Insurance $ 7,700 Rent, building $ 38,000       Beginning Ending Raw Materials $ 22,000 $ 10,000 Work in Process $ 47,000 $ 36,000 Finished Goods $ 70,000 $ 60,000     Required: 1. Compute the predetermined overhead rate for the year. 2. Compute the amount of underapplied or overapplied…

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 department. The Forming Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Forming Finishing Machine-hours 18,000 14,000 Direct labor-hours 2,000 8,000 Total fixed manufacturing overhead cost OMR 99,000 OMR 70,400 Variable manufacturing overhead per machine-hour OMR 2.10 Variable manufacturing overhead per direct labor-hour OMR 3.90 During the current month the company started and finished Job PS5. The following data were recorded for this job: Job PS5: Forming Finishing Machine-hours 90 20 Direct labor-hours 30 60 Direct materials OMR 940 OMR 350 Direct labor cost OMR 960 OMR 1920 The total job cost for Job PS5 is closest to: a. None…

MNO Corporation uses a job-order costing system with a predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total estimated direct labor-hours 50,000 Total estimated fixed manufacturing $285,000 overhead cost Estimated variable manufacturing overhead per direct labor-hour 3.80 $ Recently, Job P123 was completed with the following characteristics: Total actual direct labor-hours 20 $ 710 $ 500 Direct materials Direct labor cost The total job cost for Job P123 is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $1,210 $1,400 $690 $900

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

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