Homework Answers
| Conversion cost | $ 900 |
| Direct labor cost | $ 300 |
| Manufacturing overhead cost | $ 600 |
| Prime cost | $ 700 |
ALL EXPLANATION IS GIVEN BELOW :
| A) Find conversion cost : | ||||
| Conversion cost = Total manufacturing cost - Direct materials cost | ||||
| Conversion cost = $ 1,300 - $ 400 | ||||
| Conversion cost = $ 900 | ||||
| B) Find Direct labor : | ||||
| Conversion cost = Direct labor cost + Manufacturing overhead cost | ||||
| So, Direct labor cost = Conversion cost - manufacturing overhead cost | ||||
| Direct labor cost = $ 900 - 200 % of direct labor cost | ||||
| Direct labor cost + 200 % of direct labor cost = $ 900 | ||||
| 300 % of Direct labor cost = $ 900 | ||||
| Direct labor cost = $ 900 / 300 % | ||||
| Direct labor cost = $ 300 | ||||
| C) Find Manufacturing overhead cost | ||||
| Manufacturing overhead cost = 200 % of direct labor cost | ||||
| Manufacturing overhead cost = 200 % * $ 300 | ||||
| Manufacturing overhead cost = $ 600 | ||||
| D) Find prime cost : | ||||
| Prime cost = Direct material cost + Direct labor cost | ||||
| Prime cost = $ 400+ $ 300 | ||||
| Prime cost = $ 700 | ||||
Add Answer to:
Ch.2 HW 1. Job 31 has a direct cost of $400 and a total manufacturing Cost...
Job 31 has a direct materials cost of $230 and a total manufacturing cost of $620....
Job 31 has a direct materials cost of $230 and a total manufacturing cost of $620. Overhead is applied to jobs at a rate of 200 percent of direct labor cost. Use the relationships among total manufacturing costs, conversion cost, and prime cost to determine the following costs for job 31: 1. Conversion Cost= 2. Direct Labor Cost= 3. Manufacturing Overhead Cost= 4. Prime Cost=
The following information is available for Rodriguez Industries: Direct labor $ 84,000 Total current manufacturing costs...
The following information is available for Rodriguez Industries: Direct labor $ 84,000 Total current manufacturing costs 385,000 Manufacturing overhead is applied to production at 150 percent of direct labor cost. Determine the amount of direct materials used in production. Job 31 has a direct materials cost of $280 and a total manufacturing cost of $820. Overhead is applied to jobs at a rate of 200 percent of direct labor cost. Use the relationships among total manufacturing costs, conversion cost, and...
Job 101 has a direct materials cost of $800 and a total manufacturing cost of $3,000....
Job 101 has a direct materials cost of $800 and a total manufacturing cost of $3,000. Overhead is applied to jobs at a rate of 150 percent of direct labor cost. What is the prime cost? ======================== Leonard Company has the following costs in its manufacturing company Factory rent $3,673 Direct labor 6,295 Indirect materials 694 Direct materials used 6,723 Sales commissions 2,365 Factory manager’s salary 2,726 Advertising 867 What are Leonard Company's total manufacturing cost? 3673+6295+6723+2726 is wrong Parker...
PLEASE ANSWER ALL QUESTIONS AND SHOW YOUR WORK! Job 101 has a direct materials cost of...
PLEASE ANSWER ALL QUESTIONS AND SHOW YOUR WORK! Job 101 has a direct materials cost of $800 and a total manufacturing cost of $3,000. Overhead is applied to jobs at a rate of 150 percent of direct labor cost. What is the prime cost? ------------------- Leonard Company has the following costs in its manufacturing company Factory rent $3,963 Direct labor 5,790 Indirect materials 584 Direct materials used 6,557 Sales commissions 2,630 Factory manager’s salary 2,951 Advertising 642 What are Leonard...
1. calculate plantwide predetermined overhead rate. 2. complete the job cost sheet for job alpha: Direct...
1. calculate plantwide predetermined overhead
rate.
2. complete the job cost sheet for job alpha:
Direct materials
Direct labor
manufacturing overhead applied
total job cost
Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $14.50 per hour. During the year, the company started and completed only two jobs-Job Alpha, which used 69.700 direct labor-hours, and Job Omega. The job cost sheets for the these...
Assume Gasol Company has direct labor costs of $1,096, manufacturing overhead costs of $1,457 and prime...
Assume Gasol Company has direct labor costs of $1,096, manufacturing overhead costs of $1,457 and prime costs of $3,242. What is Gasol's direct materials cost? =========== Assume Gasol Company has direct materials cost of $2,661, direct labor costs of $1,018, manufacturing overhead costs of $1,362. What is Gasol's prime cost? ============= Leonard, Inc., which uses a volume-based cost system, produces cat condos that sell for $104 each. Direct materials cost $11 per unit, and direct labor costs $23 per unit....
Ch. 2: HW G Saved Help 1 Moody Corporation uses a job-order costing system with a...
Ch. 2: HW G Saved Help 1 Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: 1.42 points Machine-hours required to support estimated production Pixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 151,000 $651,000 $4.60 Required 1. Compute the plantwide predetermined overhead rate 2. During the year, Job 400 was started and completed. The following information was available with...
Chapter 2: Applying Excel Data Markup on job cost 75% Machine-hours Direct labor-hours Total fixed manufacturing...
Chapter 2: Applying Excel Data Markup on job cost 75% Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Milling Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 20 $800 $370 $280 $70 Enter a formula into each of the cells marked with a ? below Assembly Step 1: Calculate the...
JOB NO. ITEM FOR 2.390 7/2 7/31 Manufacturing Overhead Date 7/10 Job Cost Sheet 469 Quantity...
JOB NO. ITEM FOR 2.390 7/2 7/31 Manufacturing Overhead Date 7/10 Job Cost Sheet 469 Quantity White Lion Cages Date Requested Todd Company Date Completed Direct Direct Materials Labor 708 907 558 342 1,620 1,530 670 692 424 831 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost Answer the following questions. (1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? Source Documents Direct materials...
The Blue Company makes boats. Job 589 is to build 10 boats. The company has 2...
The Blue Company makes boats. Job 589 is to build 10 boats. The company has 2 departments – assembly and fabrication. The assembly department allocates manufacturing overhead to jobs based on direct labor hours. The fabrication department allocates manufacturing overhead to jobs based on machine hours. Please use the following information about the Blue Company; Assembly Department Fabrication Department Total fixed manufacturing overhead cost estimated for all jobs during the whole year $480,000 $560,000 Estimated direct labor hours for...
1. calculate plantwide predetermined overhead
rate.
2. complete the job cost sheet for job alpha:
Direct materials
Direct labor
manufacturing overhead applied
total job cost
Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $14.50 per hour. During the year, the company started and completed only two jobs-Job Alpha, which used 69.700 direct labor-hours, and Job Omega. The job cost sheets for the these...
Ch. 2: HW G Saved Help 1 Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: 1.42 points Machine-hours required to support estimated production Pixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 151,000 $651,000 $4.60 Required 1. Compute the plantwide predetermined overhead rate 2. During the year, Job 400 was started and completed. The following information was available with...
Chapter 2: Applying Excel Data Markup on job cost 75% Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Milling Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 20 $800 $370 $280 $70 Enter a formula into each of the cells marked with a ? below Assembly Step 1: Calculate the...
JOB NO. ITEM FOR 2.390 7/2 7/31 Manufacturing Overhead Date 7/10 Job Cost Sheet 469 Quantity White Lion Cages Date Requested Todd Company Date Completed Direct Direct Materials Labor 708 907 558 342 1,620 1,530 670 692 424 831 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost Answer the following questions. (1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? Source Documents Direct materials...
Most questions answered within 3 hours.
-
For each of the Z-scores below, determine two probabilities
(show four three decimal places): (1) the...
asked 27 minutes ago -
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 3 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 3 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 3 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 3 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 3 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 3 hours ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 3 hours ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 4 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 3 hours ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 3 hours ago -
International ethics focus on:
1) exploitation of labor
2)corruption
3) environmental impact
4) none of the...
asked 4 hours ago