FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Mickley Company's plantwide predetermined overhead rate is $22.00 per direct labor-hour and its direct labor wage rate is $10.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 70 units, what is its unit product cost? Note: Round your answer to 2 decimal places. 1. Total manufacturing cost 2. Unit product cost $ 270 $ 100 $ 8 per unitarrow_forwardFickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $20.00 per direct labor-hour and $16.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $22.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 380 $ 41 Direct labor $ 187 $ 99 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job? (Do not round intermediate calculations. Round your answer to 2 decimal places.) 1. Total manufacturing cost 2. Unit product cost per unitarrow_forwardAssume that RamCo applies overhead to jobs based on direct labor cost. Job A1 was started and completed and sold to customer for $500. The Job A1 cost sheet shows $200 for direct materials, $100 for direct labor, and $60 for overhead on its job cost sheet. Job A2 is still in process at year end and shows charges of $280 for direct materials and $150 for direct labor. How much overhead should be charged to Job A2 at year end? $0 $60 $90 $120 000arrow_forward
- The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At the beginning of the yea the Corporation made the following estimates: Direct labor cost Manufacturing overhead Direct labor-hours Machine-hours Dept. A Dept. B $60,000 $40,000 $90,000 $45,000 6,000 9,000 2,000 15,000 What predetermined overhead rates would be used in Dept. A and Dept. B, respectively?arrow_forwardMoody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information pertains to this job: Direct materials Direct labor cost Machine-hours used $ 390 $ 240 34 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 60 units, what is its unit product cost? 4. If Moody uses a markup percentage of 130% of its total manufacturing cost, then what selling price per unit would it establish for Job 400? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the plantwide predetermined overhead rate.…arrow_forwardPlease help me solve the total manufacturing cost for Job D-70 & Job C-200arrow_forward
- 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?arrow_forwardPlease help mearrow_forwardHilltop 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.)arrow_forward
- Newhard Company assigns overhead cost to jobs on the basis of 118% of direct labor cost. The job cost sheet for Job 313 includes $20,074 in direct materials cost and $10,700 in direct labor cost. A total of 1,550 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313? a. Total manufacturing cost b. Unit product costarrow_forwardnkj.1arrow_forwardEe.78.arrow_forward
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