A Company uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor cost. The company based its predetermined overhead rate for the current year on total estimated manufacturing overhead cost of 40% of direct labor cost. The job cost sheet of Job2121 shows that the number of units in this job order is 70 units which incurred total of 90 labor-hours. This job consumed $50/unit of direct materials cost and $90/hour of direct labor. What would be the total manufacturing cost for Job2121 approximately? O a. None of the given answers. O b. $14,84O O c. $11,340 O d. $11,600 O e. $6,740

A Company uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor cost. The company based its predetermined overhead rate for the current year on total estimated manufacturing overhead cost of 40% of direct labor cost. The job cost sheet of Job2121 shows that the number of units in this job order is 70 units which incurred total of 90 labor-hours. This job consumed $50/unit of direct materials cost and $90/hour of direct labor. What would be the total manufacturing cost for Job2121 approximately? O a. None of the given answers. O b. $14,84O O c. $11,340 O d. $11,600 O e. $6,740

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Description: p?attempt=D1764924&cmid%3D875183&page%3D4DEMIC)E-LEARNING SERVICES -SQU LIBRARIES -SQU PORTAL ATTENDAITime left 1:35:49A Company uses a job-order costing system with a single plantwidepredetermined overhead rate based on direct labor cost. The compa

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 5SEB: PREDETERMINED FACTORY OVERHEAD RATE Marston Enterprises calculates a predetermined factory overhead...

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A new company started production. Job 1 was completed, and Job 2 remains in production. Here is the information from the job cost sheets from their first and only jobs so far: Using the Information provided. A. What Is the balance in work in process? B. What Is the balance in finished goods inventory? C. If manufacturing overhead is applied on the basis of direct labor hours, what is the predetermined overhead rate?
PREDETERMINED FACTORY OVERHEAD RATE Marston Enterprises calculates a predetermined factory overhead rate so that factory overhead may be applied to production during the month. It calculates the overhead using three different methods and then decides which one to use. Total estimated factory overhead costs are 600,000. Total estimated direct labor hours are 30,000. Total estimated direct labor costs are 1,200,000. Total machine hours are estimated to be 200,000. Calculate the predetermined overhead application rates based on (1) direct labor hours, (2) direct labor costs, and (3) machine hours.
PREDETERMINED FACTORY OVERHEAD RATE Millerlile Enterprises calculates a predetermined factory overhead rate so that factory overhead may be applied to production during the month. It calculates the overhead using three different methods and then decides which one to use. Total estimated factory overhead costs are 540,000. Total estimated direct labor hours are 50,000. Total estimated direct labor costs are 900,000. Total machine hours are estimated to be 80,000. Calculate the predetermined overhead application rates based on (1) direct labor hours, (2) direct labor costs, and (3) machine hours.
engageNOWv2 | Online teachin X + _com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress.... A E At the end of April, Cavy Company had completed Jobs 765 and 766. The individual job cost sheets reveal the following information: Job Direct Materials Direct Labor Machine Hours Job No. 765 $8,400 30 $2,520 4,698 Job No. 766 14,877 87 Job 765 consisted of 180 units, and Job 766 consisted of 261 units. Assuming that the predetermined factory overhead rate is applied by using machine hours at a rate of $95 per hour. a. Determine the balance on the job cost sheets for each job. Job 765 Job 766 b. Determine the cost per unit at the end of April. Round your answers to the nearest cent. Job 765 Job 766 a 118 D -F10 Previous Next > D
geNOWv2 | Online teachin X + n/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... A Factory Overhead Costs Instructions Chart of Accounts Journal T Instructions During May, Lockmiller Company incurred factory overhead costs as follows: indirect materials, $34,500; indirect labor, $80,700; utilities cost, $13,400; and factory depreciation, $47,600. Required: Journalize the entry to record the factory overhead incurred as of May 30. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. I Previous a C Next 20
B AliExpress... https://ww... Ch. 15 IT (Interactive Tutorial) Question 5 of 13 Current Attempt in Progress Direct materials Direct labor Job 201 Blossom Company is working on two job orders. The job cost sheets show the following. $7,000 3,800 https://ww... Work in Process Inventory Work in Process Inventory Account Titles and Explanation (To assign materials to jobs) (To assign labor to jobs) Job 202 $8,800 (6284) Ho... 7,800 Start and... Prepare the two summary entries to record the assignment of costs to Work in Process from the data on the job cost sheets. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) DZL Homepag... Debit ACCT 210... Credit W Ch. 15 IT (... -/0.77 : WP Question... DEL Homepag... Question List Question 1 Accounting Multistep Question 2 Accounting Multistep Question 3 Accounting Dropdown Question 4 Accounting Multistep Viewing Question 5 Accounting Dropdown Question 6…
services SQU Libraries SQU Portal Attendance English (en O b. OMR605 O c. OMR545 O d. OMR635 O e. OMR575 XYZ Company provided the following information regarding Product XY: Direct material costs OMR3 per unit of product; Direct labor costs OMR5 per direct labor hour; Predetermined overhead rate OMR10 per direct labor hour. The cost of a job for 550 units of product XY, which uses a total of 100 direct labor hours, is: Select one: Oa. OMR5,400 Ob. OMR3,300 Oc. OMR3,150 Od. None of the answers given e. OMR9,900 Total manutacturing costs assioned inclucted 10 units heom ofs tota mana
like to set Microsoft Edge as your default browser? Set as default CD Job-order Costing System Activities Activity 1: The following information is for GANA Company that uses the job-order costing technique for determining cost of sales. The following data is obtained from its records for the year ended 31 st December 2020. Particular BD. Direct materials 8000 Direct labour 5000 Factory overheads 12500 Administrative overheads 3500 Selling and Distribution overheads 4500 Profit on cost 10% You are required to: 1- Prepare a Job cost sheet indicating prime cost, work cost, production cost, cost of sales and sales value.
File Edit View History Bookmarks Window Help g System (Academic) A elearn.squ.edu.om gerial Accounting || tall20 Company XYZ uses a job order costing system. During the year, Job XY was started and completed. The total manufacturing cost of this Job was $15,000. The job includes 100 units. If the company uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job XY? of Select one: a. $330 b. $345 c. $270 d. None of the answers given e. $180 The prime cost of Job No. 55 was $2,500. Manufacturing Overhead was applied based on machine hours. The POHR was $130 per machine hour. Assuming Job No. 55 needed 20 machine hours to complete, calculate the cost of Job No. 55. of Select one: a. $2,636
Sybil, Inc. uses a predetermined overhead allocation rate to allocate manufacturing overhead costs to jobs. The company recently completed Job 300X. This job used 14 machine hours and 2 direct labor hours. The predetermined overhead allocation rate is calculated to be $40 per machine hour. What is the amount of manufacturing overhead allocated to Job 300X using machine hours as the allocation base? Question content area bottom Part 1 A. $80 B. $480 C. $640 D. $560
What is the journal entry for the application of Factory Overhead to Work in Process if the driver is imprints, the rate is $1.80 per imprint, and the imprint meter reads 1,780 at the start of the day and 2,890 at the end of the day? a. Work in Process1.80 Factory Overhead1.80 b. Work in Process1,998 Factory Overhead1,998 c. Work in Process1,998 Cash1,998 d. Work in Process1,998 Depreciation Expense1,998
elearn.squ.edu.om/mod/quiz/at ng services SQU Libraries SQU Portal Attendance En An accountant recently debited Work-in-Process Inventory and credited Manufacturing Overhead at a company that uses job order costing. The accountant was: Select one: O a. recognizing the completion of production. O b. recognizing actual overhead incurred during the period. O c. recognizing receipt of the factory utilities bill. O d. recording a year-end adjustment for an insignificant amount of underapplied overhead. O e. applying a predetermined overhead amount to production.