Saved Green Cabinets is a custom cabinet builder. They recently completed a set of kitchen cabinets (Job Number 1478), as summarize below Job Number:1476 Data Started: 4/07/20x8 Date Completedi 4/22/20x8 DEsCription:Cherry kitchen cabinets Applied Manufacturing Overhead Amount Direct Labor Direct Naterials Reg. No 385 Amount Hours Rate $ 345 634 Amount Ticket Hours 128 $ 370 15 391 295 130 27 395 135 133 216 401 275 Total $1,075 50 Total Cost Summary $1,196 Direct Material Cost Direct Labor Cost $1,075 1,196 Applied Manufacturing Overhead Total Cost Green Cabinets applies overhead to jobs at a rate of $14 per direct labor hour. a) How much overhead would be applied to Job Number 1478? Applied Manufacturing Overhead )What is the total cost of Job Number 1478?
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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