Navarre's predetermined manufacturing overhead allocation rate was $0.40 per direct labor dollar during 20X8. At the end of 20X8, Navarre had completed Job 1 and Job 2 but was still working on Job 3. Based on this information, Navarre's Total Manufacturing Cost during 20X8 was...... ?

Navarre's predetermined manufacturing overhead allocation rate was $0.40 per direct labor dollar during 20X8. At the end of 20X8, Navarre had completed Job 1 and Job 2 but was still working on Job 3. Based on this information, Navarre's Total Manufacturing Cost during 20X8 was...... ?

Name: A2 Navarre Corporation makes custom-order furniture. Navarre worked on
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Description: A2 Navarre Corporation makes custom-order furniture. Navarre worked on only three jobs during20X8. The relevant direct manufacturing costs for these three jobs follow.Job 1Job 2Job 3Total$52,730Navarre's predetermined manufacturing overhead allocatio

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter5: Product And Service Costing: Job-order System

Section: Chapter Questions

Problem 17E: During August, Skyler Company worked on three jobs. Data relating to these three jobs follow:...

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Compute the total job cost for each of the following scenarios: a. If the direct labor cost method is used in applying factory overhead and the predetermined rate is 100%, what amount should be charged to Job 2010 for factory overhead? Assume that direct materials used totaled 5,000 and that the direct labor cost totaled 3,200. b. If the direct labor hour method is used in applying factory overhead and the predetermined rate is 10 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, and the number of direct labor hours totaled 250. c. If the machine hour method is used in applying factory overhead and the predetermined rate is 12.50 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, the direct labor hours were 250 hours, and the machine hours were 295 hours.
York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of direct labor. The cost to make job 0325 is $70 in aluminum and two hours of labor at $20 per hour. During the month. York incurs $50 in indirect material cost. $150 in administrative labor, $300 in utilities, and $250 in depreciation expense. What is the predetermined overhead rate if direct labor hours are considered the cost driver? What is the cost of Job 0325? What is the overhead incurred during the month?
Luna Manufacturing Inc. completed Job 2525 on May 31, and there were no jobs in process in the plant. Prior to June 1, the predetermined overhead application rate for June was computed from the following data, based on an estimate of 5,000 direct labor hours: The factory has one production department and uses the direct labor hour method to apply factory overhead. Three jobs are started during the month, and postings are made daily to the job cost sheets from the materials requisitions and labor-time records. The following schedule shows the jobs and amounts posted to the job cost sheets: The factory overhead control account was debited during the month for actual factory overhead expenses of 27,000. On June 11, Job 2526 was completed and delivered to the customer using a mark-on percentage of 50% on manufacturing cost. On June 24, Job 2527 was completed and transferred to Finished Goods. On June 30, Job 2528 was still in process. Required: 1. Prepare job cost sheets for Jobs 2526, 2527, and 2528, including factory overhead applied when the job was completed or at the end of the month for partially completed jobs. 2. Prepare journal entries as of June 30 for the following: a. Applying factory overhead to production. b. Closing the applied factory overhead account. c. Closing the factory overhead account. d. Transferring the cost of the completed jobs to finished goods. e. Recording the cost of the sale and the sale of Job 2526.
SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its total annual overhead costs can be represented by the following formula: Overhead cost = 543,000 + 1.34X, where X equals number of smokers. Last year, SmokeCity produced 20,000 smokers. Actual overhead costs for the year were as expected. Required: 1. What is the driver for the overhead activity? 2. What is the total overhead cost incurred by SmokeCity last year? 3. What is the total fixed overhead cost incurred by SmokeCity last year? 4. What is the total variable overhead cost incurred by SmokeCity last year? 5. What is the overhead cost per unit produced? 6. What is the fixed overhead cost per unit? 7. What is the variable overhead cost per unit? 8. Recalculate Requirements 5, 6, and 7 for the following levels of production: (a) 19,500 units and (b) 21,600 units. (Round your answers to the nearest cent.) Explain this outcome.
During August, Skyler Company worked on three jobs. Data relating to these three jobs follow: Overhead is assigned on the basis of direct labor hours at a rate of 2.30 per direct labor hour. During August, Jobs 39 and 40 were completed and transferred to Finished Goods Inventory. Job 40 was sold by the end of the month. Job 41 was the only unfinished job at the end of the month. Required: 1. Calculate the per-unit cost of Jobs 39 and 40. (Round unit costs to nearest cent.) 2. Compute the ending balance in the work-in-process inventory account. 3. Prepare the journal entries reflecting the completion of Jobs 39 and 40 and the sale of Job 40. The selling price is 140 percent of cost.
The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be 3,150,000, and total direct labor costs would be 1,800,000. During February, the actual direct labor cost totalled 160,000, and factory overhead cost incurred totaled 283,900. a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February. c. What is the February 28 balance of the account Factory OverheadBlending Department? d. Does the balance in part (c) represent over- or underapplied factory overhead?
Lumos Maxima corporation manufacturers lamps and flashlights. They use a job-order cost system to accumulate their manufacturing costs, and a traditional allocation method for applying manufacturing overhead costs. The predetermined overhead rate is $16.00 per direct labor hour. During the month, White corporation worked on two different jobs. Job W-100 was completed and sold by the end of the month. Job W-200 was unfinished at the end of the period. Job W-100 Job W-200 Beginning Balance $19,400 $29,800 Direct Materials $34,200 $21,100 Direct Labor $36,000 $35,200 Actual Direct Labor Hours 8,200 6,400 What is the beginning balance of work in process at the end of the month? A. $188,500 B. $175,700 C. $220,800 D. $409,300
Sensual Scents, Inc. uses a job-order cost system with machine hours as the overhead base. At the beginning of last year, Sensual estimated 38,000 machine hours and P152,000 of manufacturing overhead costs. For the year, only 37,500 machine hours were logged but P153,500 of overhead cost was incurred. 9. What is Sensual's under-or overapplied manufacturing overhead? a. P1,500 underapplied b. P 1,500 overapplied c. P 2,000 underappld d. P3,500 underapplied
Marian Manufacturing (2M) applies manufacturing overhead to jobs based on direct labor costs. For Year 2, 2M estimates its manufacturing overhead to be $424,060 and its direct labor costs to be $815,500. 2M worked on three jobs for the year. Job 2M-1. which was sold during Year 2, had actual direct labor costs of $632.500. Job 2M-2, which was completed but not sold at the end of the year, had actual direct labor costs of $425,500. Job 2M-3, which is still in work-in-process inventory, had actual direct labor costs of $92,000. Actual manufacturing overhead for Year 2 was $632,400. Required: Prepare an entry to allocate over- or underapplied overhead to Work in Process, Finished Goods and Cost of Goods Sold. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. No A Transaction 1 Answer is not complete. General Journal Cost of Goods Sold Finished Goods Inventory Work-in-Process Inventory Manufacturing Overhead Applied 3333…
Cavy Company estimates that total factory overhead costs will be $747,937 for the year. Direct labor hours are estimated to be 104,900. a. Determine the:1. Predetermined factory overhead rate. Round your answer to the nearest cent.2. Amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,000 and Job 777 if the amount of direct labor hours is 3,000. Job 345 Job 777 b. Journalize the entry to apply factory overhead for April, assuming Jobs 345 and 777 are the only jobs in production during the month. If an amount box does not require an entry, leave it blank.
Marian Manufacturing (2M) applies manufacturing overhead to jobs based on direct labor costs. For Year 2, 2M estimates its manufacturing overhead to be $423,020 and its direct labor costs to be $813,500. 2M worked on three jobs for the year. Job 2M-1, which was sold during Year 2, had actual direct labor costs of $555,500. Job 2M-2, which was completed but not sold at the end of the year, had actual direct labor costs of $373,700. Job 2M-3, which is still in work-in-process inventory, had actual direct labor costs of $80,800. Actual manufacturing overhead for Year 2 was $558,800. Required: Prepare an entry to allocate over- or underapplied overhead to Work in Process, Finished Goods and Cost of Goods Sold. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < A Record the allocation of over- or underapplied overhead. Note: Enter debits before credits. Transaction 1 Record…
Cavy Company estimates that total factory overhead costs will be $685,938 for the year. Direct labor hours are estimated to be 109,400. a. Determine the predetermined factory overhead rate. Round your answer to the nearest cent.$fill in the blank 23d34d049fd4031_1 b. Determine the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and Job 777 if the amount of direct labor hours is 3,300. Job 345 $fill in the blank 23d34d049fd4031_2 Job 777 $fill in the blank 23d34d049fd4031_3 c. Prepare the journal entry to apply factory overhead for April according to the predetermined overhead rate. fill in the blank 919f7901300ffaf_2 fill in the blank 919f7901300ffaf_4