Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm's direct labor includes salaries of consultants that work at the client's job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor - hours. At the beginning of the year, it estimated that 55,000 direct labor - hours would be required for the period's estimated level of client service. The company also estimated $302, 500 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm's actual overhead cost for the year was $321, 300 and its actual total direct labor was 58, 850 hours. Required: 1. Compute the predetermined overhead rate. 2. During the year, Tech Solutions started and completed the Xavier Company engagement. The following information was available with respect to this job: Direct materials $ 50, 850 Direct labor cost S 27,300 Direct labor-hours worked 220

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.…

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…

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 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 Direct labor cost Direct labor-hours used $ 626 $ 292 4 12,000 $ 114,000 $ 1.00 Compute Mr.…

Can someone help me with this question? I keep getting the answers wrong. High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor-hours. At the beginning of the year, the company provided the following estimates:     Department   Molding Painting Direct labor-hours   37,000     52,900   Machine-hours   88,000     40,000   Fixed manufacturing overhead cost $ 228,800   $ 529,000   Variable manufacturing overhead per machine-hour $ 2.20     -   Variable manufacturing overhead per direct labor-hour   -   $ 4.20       Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information…

Please help me.  Thankyou.

McDuff Company uses a job-order costing system to compute product costs. There are two producing departments (P1 and P2) and two support departments (S1 and S2). The costs incurred in S1 and S2 are allocated to Departments A and B and included in their factory overhead rates for costing products. S1 costs are allocated based on the number of employees, S2 costs are allocated based on direct labor hours, and the production departmental overhead rates are also based on direct labor hours. The following data are available for a recent period:     S1 S2 P1 P2 Direct department costs $12,000 $18,000 $70,000  $117,500 Number of employees 8 12 48 72 Direct labor hours 450 325 2,250 1,800             Required: Prepare a schedule allocating the support department costs to the producing departments using the sequential allocation method. The department with the greatest percentage of interdepartmental services should be allocated first.…

Assuming the use of normal costing, determine the predetermined overhead rates used in the Machining Department and the Assembly Department.

Remnant Carpet Company sells and installs commercial carpeting for office buildings. Remnant Carpet Company uses a job order cost system. When a prospective customer asks for a price quote on a job, the estimated cost data are inserted on an unnumbered job cost sheet. If the offer is accepted, a number is assigned to the job, and the costs incurred are recorded in the usual manner on the job cost sheet. After the job is completed, reasons for the variances between the estimated and actual costs are noted on the sheet. The data are then available to management in evaluating the efficiency of operations and in preparing quotes on future jobs. On October 1, Remnant Carpet Company gave Jackson Consulting an estimate of $2,464 to carpet the consulting firm’s newly leased office. The estimate was based on the following data: Estimated direct materials:   40 meters at $30 per meter $ 1,200 Estimated direct labor:   16 hours at $20 per hour 320 Estimated factory overhead (75% of…

Tech Solutions is a consulting firm that uses job-order costing. Its direct materials consist of hardware and software it purchases and installs on behalf of its clients. The firm's direct labor includes salaries of consultants who work at the client's job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies consumed serving clients. Tech Solutions computes its predetermined overhead rate annually based on direct labor-hours. At the beginning of the year, it estimated 65,000 direct labor-hours would be required for the period's estimated level of client service. The company also estimated $487,500 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm's actual overhead cost for the year was $505,700 and its actual total direct labor was 70,900 hours. Required: 1. Compute the predetermined overhead rate. 2. During the year, Tech…