Vintage Manufacturing uses a perpetual inventory system and predetermined manufacturing overhead rate based on direct labor cost. At the beginning of 2023, they estimated total manufacturing overhead costs at $2,352,000, and they estimated total direct labor cost at $3,360,000. The administration and selling overheads are to be absorbed in each job cost at 15% of prime cost. Distribution cost should be added to each job according to quotes from outside carriage companies. The entity wishes to quote for job # 242. Job stats are as follows: Direct materials cost Direct labour rate $175,250 $480 per direct labour hour 500 hours Direct labour hours Special Design Cost Distribution quote from haulage company Units of product produced $9,750 $24,250 250 cartons a) Compute Vintage Manufacturing predetermined manufacturing overhead rate for 2023. b) How much manufacturing overhead was allocated to Job #242? c) Calculate the total cost & quotation price of Job #242, given that a margin of 20% is applied. d) Calculate the production cost per unit (cost per carton) of finished product? e) Assuming that the quote was accepted by the customer, state the journal entries that would be necessary to record the production costs for Job#242.

Miguel Manufacturing Company uses a predetermined manufacturing overhead rate based on direct labor hours. At the beginning of 2023, they estimated total manufacturing overhead costs at $2,352,000, and they estimated total direct labor hours at 7,000. The administration and selling overheads are to be absorbed in each job cost at 15% of prime cost. Distribution cost should be added to each job according to quotes from outside carriage companies. The company wishes to quote for job # 222. Job stats are as follows:   Direct Materials $173,250 Direct Labour Cost $240,000 Direct Labour Hours 500 hours Special Design Cost $8,750 Distribution quote from haulage company $21,700 Units of product produced 400 cartons  Compute Miguel’s Manufacturing Company predetermined manufacturing overhead rate for 2023.

Compute for the total Factory overhead rate of G Department, if the company uses the step method in allocating service department costs and distributes the cost of Department U first, Department V second and finally Department W. The producing departments uses the following bases: Department H, 100,000 direct labor hours; and Department G, 195,000 direct labor hours.  The Madalilangko Ink Company prepared the following table for the year 2019:                                                  Production                                          Service Departments                                                Departments                                                H                       G                         U                       V                          W Rent                             250,000           770,000             15,000               14,500                7,000 Repairs                        100,000           120,500             23,000               30,000…

Hill Manufacturing uses departmental cost driver rates to apply manufacturing overhead costs to products. Manufacturing overhead costs are applied on the basis of machine hours in the Machining Department and on the basis of direct labor hours in the Assembly Department. At the beginning of 2020, the following estimates were provided for the coming year: Direct labor hours Machine hours Direct labor cost Manufacturing overhead costs Machining Direct labor hours Machine hours Direct material cost Direct labor cost 10,000 DLH 100,000 MH $80,000 $250,000 The accounting records of the company show the following data for Job # 846: Machining 50 DLH 170 MH Assembly 90,000 DLH 5,000 MH $2,700 $400 $720,000 $360,000 Assembly 120 DLH 10 MH $1,600 $900 4 Required: 1. Compute the manufacturing overhead allocation rate for each department. 2. Compute the total cost of Job #846. 3. Provide possible reasons why Hill Manufacturing uses two different cost allocation rates.

Aaron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming year to be $760,000 and $500,000, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 16,000 hours and 5,000 hours, respectively. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.) OA. $1.52 per labor hour OB. $100.00 per machine hour OC. $152.00 per machine hour O D. $31.25 per labor hour

​Aaron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming year to be $770,000 and $500,000​, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 17,000 hours and 5,000 ​hours, respectively. What is the predetermined overhead allocation​ rate? (Round your answer to the nearest​ cent.)     A. $29.41 per labor hour   B. $1.54 per labor hour   C. $154.00 per machine hour   D. $100.00 per machine hour

Michael Scott Paper Co. uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required.At the beginning of 2020, the company expected to incur the following:Michael Scott Paper Co.Beginning of 2020 Manufacturing overhead costs $1,001,910 Direct labor costs $1,512,800 Number of Machine hours to be used 73,400   At the end of 2020, the company had actually incurred:Michael Scott Paper Co.End of 2020 Direct labor costs $1,219,700 Depreciation on manufacturing plant equipment $596,400 Property taxes on plant $39,600 Sales Salaries $28,400 Delivery drivers wages $25,600 Plant janitor's wages $17,100 Number of Machine hours actually used 65,700   (Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. Compute the predetermined overhead allocation rate. Total estimated overhead cost ? Total estimated quantity of the overhead allocation base =…

Aaron Company estimates direct labor costs and manufacturing overhead costs for the coming year to $900,000 and $700,000, respectively. Aaron allocates overhead costs based on labor hours. the estimated total labor hours and machine hours for the coming year are 16,000 hours and 10,000 hours, respectively., What's the predetermined overhead allocation rate?

Grand, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Grand allocates manufacturing overhead to production based on standard direct labor hours. Grand reported the following actual results for 2024: actual number of units produced, 1, 000; actual variable overhead, $5,000; actual fixed overhead, $ 3,500; actual direct labor hours, 1,400. Read the equirements. Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) I unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity; VOH = variable overhead.) Formula Variance \table[[VOH cost variance,,] =

Elite Home Decor manufactures customized household furnishings. The company uses a perpetual inventory system and has a highly labor-intensive production process, so it assigns manufacturing overhead based on direct labor cost. Elite expects to incur $2,205,000 of manufacturing overhead costs and estimated direct labor costs of $3,150,000 during 2020. At the end of December 2019, Elite reported work in process inventory (Job 551) of $93,000 The following events occurred during January - March 2020. i) Purchased materials on account, $392,000 ii) Incurred manufacturing wages of $400,000 iii) Requisitioned direct materials and used direct labor in manufacturing   Direct Materials Direct Labor Job 551 $70,200 $61,200 Job 552 97,500 115,600 Job 553 105,300 78,200 Job 554 117,000 85,000 v) Issued indirect materials to production, $30,000 v) Charged indirect manufacturing wages to production, $60,000 vi) Depreciation of production machinery,…