roblem 2-18 (Algo) Job-Order Costing for a Service Company [LO2-1, LO2-2, LO2-3] peedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in ustomer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, s the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for th waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the follow estimates: Direct labor-hours required to support estimated output Fixed overhead cost Variable overhead cost per direct labor-hour Saved Direct materials Direct labor cost Direct labor-hours used 32,000 $ 448,000 $ 1.00 Required: 1. Compute the predetermined overhead rate. 2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information was available with respect to his job: $609 $ 166 5 Compute Mr. Wilkes' total job cost. 3. If Speedy establishes its selling prices using a markup percentage of 50% of its total job cost, then how much would it have charge Mr. Wilkes?

i need a and b and c answer.

a)Calculate the amount of overhead that should be applied to each job and amount of Rullos overapplied or underapplied overhead at the end of the first year b)Calculate Rullos balances for work in process ,finished goods and cost of goods sold at the end of the first year

Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output Fixed overhead cost Variable overhead cost per direct labor-hour 24,000 $ 288,000 $ 1.00 Required: 1. Compute the predetermined overhead rate. 2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information was available with respect to his job: $ 615 $208 9 Direct materials Direct labor cost Direct labor-hours used Compute Mr.…

! Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of period $ 45,000 9,600 68,000 End of Period Inventories Raw materials Work in process Finished goods $ 45,000 19,000 33,500 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. X Answer is not complete. No Transaction General Journal…

T Accounts and Trial Balance Wilhelm Kohl started a business in May 20-- called Kohl's Home Repair. Kohl hired a part-time college student as an assistant. Kohl has decided to use the following accounts for recording transactions: Assets Owner’s Equity         Cash         Wilhelm Kohl, Capital         Accounts Receivable         Wilhelm Kohl, Drawing         Office Supplies         Revenue         Prepaid Insurance         Service Fees         Equipment        Expenses         Van         Rent Expense Liabilities         Wages Expense         Accounts Payable         Phone Expense           Gas and Oil Expense The following transactions occurred during May: (a)   Invested cash in the business, $24,848. (b)   Purchased a used van for cash, $6,144. (c)   Purchased equipment on account, $3,878. (d)   Received cash for services rendered, $7,679. (e)   Paid cash on account owed from transaction (c), $2,369. (f)   Paid rent for the month, $845. (g)…

Speedy Auto Repairs uses a job-order costing system. The company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. Speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room.   The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates:   Direct labor-hours required to support estimated output 40,000 Fixed overhead cost $ 640,000 Variable overhead cost per direct labor-hour $ 1.00   Required: 1. Compute the predetermined overhead rate. 2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information was available with respect to his job:   Direct materials $ 707 Direct labor cost $ 230 Direct…

Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) $ 41,000 9,200 50,000 Indirect materials used Indirect labor used Other overhead costs End of Period $ 42,000 20,700 33,700 $ 176,000 150,000 8,000 34,500 117,500 Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period.

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