Parker Company uses a job-order costing system and applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor-hours. Last year manufacturing overhead and direct labor-hours were estimated at $50,000 and 20,000 hours, respectively, for the year. In June, Job #461 was completed. Materials costs on the job totaled $4,000, and labor costs totaled $1,500 at $5 per hour. At the end of the year, it was determined that the company worked 24,000 direct labor-hours for the year and incurred $54,000 in actual manufacturing overhead costs. Required: Job #461 contained 100 units. Determine the unit product cost that would appear on the job cost sheet. Determine the underallocated or overallocated overhead for the year.

The Oswell 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 $579,800​, and estimated direct labor hours are 260,000. In October​, the company incurred 60,000 direct labor hours.   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.             Predetermined OH ? ÷ ? = allocation rate ? ÷ ? = ? Requirement 2. Determine the amount of overhead allocated in October.   Begin by selecting the formula to allocate overhead costs.               Allocated mfg. ?   × ? = overhead costs The overhead allocated…

ABC Company uses job costing. Its annual estimated manufacturing overhead and machine hours (the allocation base) were $100,000 and 2,000 hours, respectively. Job 02-03 was completed in June and incurred direct materials of $4,000, direct labor $3,000, and 100 machine hours. Which of the following is the total cost of job 02-03?  a) $7,000 b) $107,000 c) $12,000 d) $112,000

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

Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $262,000 and direct labor hours to be 20,000. Actual overhead for the year was $290,000. Required: 1. Compute the predetermined overhead rate. 2. If the company actually used 23,200 direct labor hours, how much manufacturing overhead is applied to their job? Complete this question by entering your answers in the tabs below. Required 1 Required 2 If the company actually used 23,200 direct labor hours, how much manufacturing overhead is applied to their job? Applied Manufacturing Overhead 89 SEP 17 Next > A O

Specter Company uses a job order cost system and applies manufacturing overhead to jobs usinga predetermined overhead rate based on direct labour-hours. Last year manufacturing overheadand direct labour-hours were estimated at $50,000 and 20,000 hours, respectively, for the year.In June, Job #461 was completed. Materials costs on the job totaled $4,000 and direct labourcosts totaled $1,500 at $5 per hour. At the end of the year, it was determined that the companyworked 24,000 direct labour hours for the year and incurred $54,000 in actual manufacturingoverhead costs.Required: (You must show all calculations for each part.)a) Calculate the total cost of Job #461. (b) If Job #461 consisted of 100 units what is the cost per unit? (c) What is the underapplied or overapplied overhead for the year? (

Landen Corporation uses job - order costing. At the beginning of the year, it made the following estimates: Direct labor - hours required to support estimated production 140,000 Machine - hours required to support estimated production 70, 000 Fixed manufacturing overhead cost $ 784,000 Variable manufacturing overhead cost per direct labor-hour $ 2.00 Variable manufacturing overhead cost per machine - hour $ 4.00 During the year, Job 550 was started and completed. The following information pertains to this job: Direct materials $ 175 Direct labor cost $ 225 Direct labor-hours 15 Machine - hours 5 Required: Assume Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach: Compute the plantwide predetermined overhead rate. Compute the total manufacturing cost of Job 550. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? Assume Landen's…

Johansen Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. The Corporation has provided the following estimated costs for the next year: Direct materials                                        $16,000 Direct labor                                               $20,000 Rent on factory building                          $25,000 Sales salaries                                             $25,000 Depreciation on factory equipment       $8,000 Indirect labor                                            $16,000 Production supervisor's salary                $35,000 Jameson estimates that 25,000 direct labor-hours will be worked during the year. The predetermined overhead rate per hour will be: Group of answer choices 3.36 4.00 5.45 6.45