Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute : Predetermined overhead rate.

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Answer 1

Question

Chapter 20, Problem 4PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The manufacturing costs assigned.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Under and over applied overhead.

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Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Manufacturing overhead Direct labor costs Direct labor hours Machine hours Direct materials used Direct labor costs Direct labor hours D $924,000 $1,320,000 Machine hours 150,000 Manufacturing overhead incurred 600,000 Department E K $1,500,000 $900,000 $1,875,000 $675,000 During January, the job cost sheets showed the following costs and production data. D 125,000 12,000 750,000 51,000 K $210,000 $189,000 $117,000 $180,000 $165,000 $56,250 $148,500 $186,000 $118,500 60,000 120,000 Department E 16,500 67,500 5,250 10,440

Ali Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department X and machine hours in Department Z. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department X Z Manufacturing overhead $78000 $75000 Direct labor costs $60000 $60000 Direct labor hours 5000 4000 Machine hours 10000 15000 During March, the job cost sheets showed the following costs and production data. Department X Z Direct materials used $9200 $6400 Direct labor costs $4800 $5000 Manufacturing overhead incurred $6600 $6210 Direct labor hours 400 420 Machine hours 800 1260 Required: Compute the predetermined overhead rate for…

Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2014, the following estimates were made for the year. Department E D K Manufacturing overhead Direct labor costs Direct labor hours $1,200,000 $1,500,000 $1,500,000 $1,250,000 125,000 500,000 $900,000 $450,000 40,000 120,000 100,000 Machine hours 400,000 During January, the job cost sheets showed the following costs and production data. Department D E K Direct materials used $140,000 $120,000 $ 99,000 8,000 34,000 $126,000 $110,000 $78,000 $37,500 $79,000 Direct labor costs Manufacturing overhead incurred Direct labor hours $124,000 11,000 3,500 Machine hours 45,000 10,400 (a) Compute the predetermined overhead rate for each department. (b) Compute the total manufacturing costs…

Answer 2

Question

Chapter 20, Problem 4PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The manufacturing costs assigned.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Under and over applied overhead.

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Answer 3

Question

Chapter 20, Problem 4PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The manufacturing costs assigned.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Under and over applied overhead.

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Answer 4

Question

Chapter 20, Problem 4PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The manufacturing costs assigned.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Under and over applied overhead.

Expert Solution & Answer

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Answer 5

Chapter 20, Problem 4PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The manufacturing costs assigned.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Under and over applied overhead.

Answer 6

Chapter 20, Problem 4PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate.

Answer 7

Chapter 20, Problem 4PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate.

Answer 8

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The manufacturing costs assigned.

Answer 9

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The manufacturing costs assigned.

Answer 10

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Under and over applied overhead.

Answer 11

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Under and over applied overhead.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 20 - Prob. 1Q Ch. 20 - Prob. 2Q Ch. 20 - Prob. 3Q Ch. 20 - Prob. 4Q Ch. 20 - Prob. 5Q Ch. 20 - Prob. 6Q Ch. 20 - Prob. 7Q Ch. 20 - Prob. 8Q Ch. 20 - Prob. 9Q Ch. 20 - Prob. 10Q

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute : Predetermined overhead rate.

Solution Summary: The author explains that job order costing is a cost evaluation method that considers each job separately and assigns costs to them.

Concept explainers

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Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The manufacturing costs assigned.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Under and over applied overhead.

Want to see the full answer?

Chapter 20 Solutions

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute : Predetermined overhead rate.

Solution Summary: The author explains that job order costing is a cost evaluation method that considers each job separately and assigns costs to them.

Concept explainers

Videos

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute: Predetermined overhead rate.

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute: The manufacturing costs assigned.

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute: Under and over applied overhead.

Want to see the full answer?

Chapter 20 Solutions

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The manufacturing costs assigned.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Under and over applied overhead.