The following table provides selected data on three jobs worked on during the SECOND month of operations. Units of product Direct labor hours worked Direct materials cost Direct labor cost 101 Required: 2,000 1,200 $4,500 $9,600 102 1,800 1,000 $3,700 $8,000 103 1,500 900 $1,400 $7,200 Actual overhead costs totaling $30,000 were incurred during the month. Manufacturing overhead cost is applied to production on a basis of direct labor hours. The estimated MOH for the current year was $450,000 and budgeted direct labor hours were 50,000 hours. Jobs 101 and 102 were completed during the month; job 103 was not completed. There are 1,000 units and $12,000 of beginning finished goods of Job 101. Job 102 and Job 103 were started during this month. The beginning WIP of Job 101 account balance is $20,000. This company uses a FIFO basis for inventory. 2500 units of Job 101 are sold during the month. None of Job 102 are sold. Compute the ending balance of finished goods of Job 101 and Job 102, the ending balance of WIP of Job 103.

The following table provides selected data on three jobs worked on during the SECOND month of operations. Units of product Direct labor hours worked Direct materials cost Direct labor cost 101 Required: 2,000 1,200 $4,500 $9,600 102 1,800 1,000 $3,700 $8,000 103 1,500 900 $1,400 $7,200 Actual overhead costs totaling $30,000 were incurred during the month. Manufacturing overhead cost is applied to production on a basis of direct labor hours. The estimated MOH for the current year was $450,000 and budgeted direct labor hours were 50,000 hours. Jobs 101 and 102 were completed during the month; job 103 was not completed. There are 1,000 units and $12,000 of beginning finished goods of Job 101. Job 102 and Job 103 were started during this month. The beginning WIP of Job 101 account balance is $20,000. This company uses a FIFO basis for inventory. 2500 units of Job 101 are sold during the month. None of Job 102 are sold. Compute the ending balance of finished goods of Job 101 and Job 102, the ending balance of WIP of Job 103.

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Description: answer in text form please (without image) The following table provides selected data on three jobs worked on during theSECOND month of operations.Units of productDirect labor hours workedDirect materials costDirect labor cost101Required:2,0001,200$4

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...

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The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units one-fourth completed at a cost of 2,500 for materials, 1,400 for labor, and 1,800 for overhead. Production costs for the monthmaterials, 130,000; labor, 70,000; and factory overhead, 82,000. Units completed and transferred to stock45,000. Work in process, end of month5,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)
The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000 units one-half completed at a cost of 1,250 for materials, 675 for labor, and 950 for overhead. Production costs for the monthmaterials, 99,150; labor, 54,925; factory overhead, 75,050. Units completed and transferred to stock38,500. Work in process, end of month3,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost.
A company estimated 50,000 direct labor hours and $450,000 in overhead. The actual overhead was $445,000, and there were 50,500 direct labor hours. What is the predetermined overhead rate, and how much was applied during the year?
A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the activity for the cost driver was estimated as 2,500 hours. If product A utilized 1,350 hours and product 8 utilized 1,100 hours, what was the total amount of overhead assigned to the products? A. $35000 B. $30.800 C. $37,800 D. $68,600
During the month, a company with no departmentalization incurred costs of 45,000 for materials, 36,000 for labor, and 22,500 for factory overhead. There were no units in process at the beginning or at the end of the month, and 20,000 units were completed. Determine the unit cost for the month for materials, labor, factory overhead, and the total unit cost. (Round unit costs to three decimal places.)
A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
Baldwin Printing Company uses a job order cost system and applies overhead based on machine hours. A total of 150,000 machine hours have been budgeted for the year. During the year, an order for 1,000 units was completed and incurred the following: The accountant computed the inventory cost of this order to be 4.30 per unit. The annual budgeted overhead in dollars was: a. 577,500. b. 600,000. c. 645,000. d. 660,000.
A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
Comacho Chemical Co. recorded costs for the month of 18,900 for materials, 44,100 for labor, and 26,250 for factory overhead. There was no beginning work in process, 8,000 units were finished, and 3,000 units were in process at the end of the period, two-thirds completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)
During March, the following costs were charged to the manufacturing department: $22,500 for materials; $45,625 for labor; and $50,000 for manufacturing overhead. The records show that 40,000 units were completed and transferred, while 10,000 remained in ending inventory. There were 45,000 equivalent units of material and 42,500 units of conversion costs. Using the weighted-average method, prepare the companys process cost summary for the month.
Crosshill Company's total overhead costs at various levels of activity are presented below: Total Overhead. Cost $201,000 $178,500 $223,500 $246,000 Month April May June July Machine-Hours 70,000 60,000 80,000 90,000 Assume that the overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 60,000-machine-hour level of activity in May is as follows: Utilities (variable). Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 51,000 21,000 106,500 $178,500 The company wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $246,000 of overhead cost in July was maintenance cost. (Hint: To do this, first determine how. much of the $246,000 consisted of utilities and supervisory salaries. Think about the behaviour of variable and fixed costs within the relevant range.) (Round the "Variable cost per unit" to 2 decimal places.)
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