Homework Answers
Under simple costing system, overgead is allocated as follows :
Predetermined overgead rate = Total overhead cost / total machine hours
Predetermined overhead rate = $193,400/10,000 hours = $19.34 per hour
Job 215 =
Indirect cost allocated, Simole costing = 20 hours x $19.34 = $386.80
Job 325 =
Indirect cost allocated, Simole costing = 80 hours x $19.34 = $1,547.20
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The job costing system at Shirley's Custom Framing has five indirect cost pools (purchasing, material handling,...
The job costing system at Shirley's Custom Framing has five indirect cost pools (purchasing, material handling,...
The job costing system at Shirley's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs; Job 215, an order of 17 intricate personalized frames, and Job 325, an order of 6 standard personalized frames. The controller wants you to compare overhead allocated under the current simple job-costing system and a newly designed activity-based job-costing system. Total budgeted costs in each indirect cost...
The job costing system at Suzy's Custom Framing has five indirect cost pools (purchasing, material handling,...
The job costing system at Suzy's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs; Job 215, an order of 15 intricate personalized frames, and Job 325, an order of 5 standard personalized frames. The controller wants you to compare overhead allocated under the current simple job-costing system and a newly designed activity-based job-costing system. Total budgeted costs in each indirect cost...
The job costing system at Shannon's Custom Framing has five indirect cost pools (purchasing, material handling,...
The job costing system at Shannon's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs, Job 215, an order of 15 intricate personalized frames, and Job 325, an order of 5 standard personalized frames. The controller wants you to compare overhead allocated under the current simple job-costing system and a newly designed activity-based job costing system. Total budgeted costs in each indirect...
The job costing system at Shelby's Custom Framing has five indirect cost pools (purchasing, material handling,...
The job costing system at Shelby's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs; Job 215, an order of 16 intricate personalized frames, and Job 325, an order of 4 standard personalized frames. The controller wants you to compare overhead alocated under the current simple job-costing system and a newly designed activity-based job-costing system. Total budgeted costs in each indirect cost...
The job costing system at Suzy's Custom Framing has ve indirect contpools (purchasing, material handing machine...
The job costing system at Suzy's Custom Framing has ve indirect contpools (purchasing, material handing machine maintenance product inspection, and packaging). The company is in the process of bidding on two jobs Job 215. an order of 10 inche personalized frames, and Job 325an order of 6 standard personalized frames. The controller wants you to compare overhead allocated under the current simple job-costing wystem and a newly designed activity based job-costing system. Total budgeted costs in each indirect cost pool...
1. Compute the total overhead allocated to each job under a simple costing system, where overhead...
1.
Compute the total overhead allocated to each job under a simple
costing system, where overhead is allocated based on
machine-hours.
2.
Compute the total overhead allocated to each job under an
activity-based costing system using the appropriate activity
drivers.
3.
Explain why Shirley's Custom Framing might favor the ABC
job-costing system over the simple job-costing system, especially
in its bidding process.
*There should be 10 total parts to this problem.
The job-costing system at Shirley's Custom Framing has five...
MacBook Ar iey based eosting. The job-costing system a Mel and packaging he company is in...
MacBook Ar iey based eosting. The job-costing system a Mel and packaging he company is in the process of bidding on two Johs: Joi ody's Custom erhead alloca activity-based job-costing system. Total budgeted system and a new.ly designed inlinest cvst peoso and the budged quantity of activity driver are as follows Budgeted Gity Aetivity Driv Budgeted Overhesd 6800 Packaging Unts produced Information related to Job 220 and Job 330 follows. Job 220 incurs more batch-level so because it uses more...
3. The controller for Mitchell Supply Company has established the following overhead cost pools and cost...
3. The controller for Mitchell Supply Company has established the following overhead cost pools and cost drivers: Overhead Cost Pool Machine setup Material handling Budgeted Overhead Cost $150,000 52,500 Cost Driver Number of setups Units of raw material Number of inspections Machine hours Quality control inspectiorn Other overhead costs Total 37,500 90,000 330000 Requirements of Order no.610 5 setup 10,000 per unit Budgeted Level For Cost Driver Overhead Cost Pool Machine setup Material handling Quality control Other overhead 100 setups...
Problem 2 The controller for the XZY Company has established the following overhead pools and cost...
Problem 2 The controller for the XZY Company has established the following overhead pools and cost drivers: Overhead Cost Pool Budgeted Overhead Cost Cost Driver Machine setups $100,000 Number of setups Material Handling $50,000 Units of Raw Material Quality control inspections $37,500 Number of Inspections Other overhead costs $100,000 Machine Hours Overhead Cost Pool Budgeted Level for Cost Driver Pool Overhead Rate Machine setups 100 setups $1,000 per setup Material Handling 50,000 units $1 per unit Quality control inspections 1,000...
a. How much of the indirect cost would have been applied to product A under the...
a. How much of the indirect cost would have been applied to
product A under the simple costing method using machine hours as
the allocation base?
b. How much of the indirect cost would have been applied to
product B under the simple costing method using machine hours as
the allocation base?
c. Using an activity-based costing system, how much of the
indirect costs are allocated to product A?
d. Using an activity-based costing system, how much of the
indirect...
The job costing system at Shirley's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs; Job 215, an order of 17 intricate personalized frames, and Job 325, an order of 6 standard personalized frames. The controller wants you to compare overhead allocated under the current simple job-costing system and a newly designed activity-based job-costing system. Total budgeted costs in each indirect cost...
The job costing system at Suzy's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs; Job 215, an order of 15 intricate personalized frames, and Job 325, an order of 5 standard personalized frames. The controller wants you to compare overhead allocated under the current simple job-costing system and a newly designed activity-based job-costing system. Total budgeted costs in each indirect cost...
The job costing system at Shannon's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs, Job 215, an order of 15 intricate personalized frames, and Job 325, an order of 5 standard personalized frames. The controller wants you to compare overhead allocated under the current simple job-costing system and a newly designed activity-based job costing system. Total budgeted costs in each indirect...
The job costing system at Shelby's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs; Job 215, an order of 16 intricate personalized frames, and Job 325, an order of 4 standard personalized frames. The controller wants you to compare overhead alocated under the current simple job-costing system and a newly designed activity-based job-costing system. Total budgeted costs in each indirect cost...
The job costing system at Suzy's Custom Framing has ve indirect contpools (purchasing, material handing machine maintenance product inspection, and packaging). The company is in the process of bidding on two jobs Job 215. an order of 10 inche personalized frames, and Job 325an order of 6 standard personalized frames. The controller wants you to compare overhead allocated under the current simple job-costing wystem and a newly designed activity based job-costing system. Total budgeted costs in each indirect cost pool...
1.
Compute the total overhead allocated to each job under a simple
costing system, where overhead is allocated based on
machine-hours.
2.
Compute the total overhead allocated to each job under an
activity-based costing system using the appropriate activity
drivers.
3.
Explain why Shirley's Custom Framing might favor the ABC
job-costing system over the simple job-costing system, especially
in its bidding process.
*There should be 10 total parts to this problem.
The job-costing system at Shirley's Custom Framing has five...
MacBook Ar iey based eosting. The job-costing system a Mel and packaging he company is in the process of bidding on two Johs: Joi ody's Custom erhead alloca activity-based job-costing system. Total budgeted system and a new.ly designed inlinest cvst peoso and the budged quantity of activity driver are as follows Budgeted Gity Aetivity Driv Budgeted Overhesd 6800 Packaging Unts produced Information related to Job 220 and Job 330 follows. Job 220 incurs more batch-level so because it uses more...
3. The controller for Mitchell Supply Company has established the following overhead cost pools and cost drivers: Overhead Cost Pool Machine setup Material handling Budgeted Overhead Cost $150,000 52,500 Cost Driver Number of setups Units of raw material Number of inspections Machine hours Quality control inspectiorn Other overhead costs Total 37,500 90,000 330000 Requirements of Order no.610 5 setup 10,000 per unit Budgeted Level For Cost Driver Overhead Cost Pool Machine setup Material handling Quality control Other overhead 100 setups...
a. How much of the indirect cost would have been applied to
product A under the simple costing method using machine hours as
the allocation base?
b. How much of the indirect cost would have been applied to
product B under the simple costing method using machine hours as
the allocation base?
c. Using an activity-based costing system, how much of the
indirect costs are allocated to product A?
d. Using an activity-based costing system, how much of the
indirect...
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