Company names may be different but the structure is the same! Please replace names with new company names if this applies! Thank you!
Requirement 1 | |||||
Budgeted indirect costs | Budgeted direct labour hours | Budgeted indirect cost rate | |||
8,300,000 | 166,000 | 50 | per DLH | ||
Actual indirect costs | Actual direct labour hours | Actual indirect cost rate | |||
6,642,000 | 162,000 | 41 | per DLH | ||
Requirement 2 | |||||
a) Normal costing | |||||
Model | Budgeted indirect cost rate | Actual direct labour hours | Indirect costs | Direct costs | Total costs |
Laguna | 50 | 960 | 48,000 | 145,025 | 193,025 |
Mission | 50 | 1,060 | 53,000 | 169,205 | 222,205 |
b) Actual costing | |||||
Model | Actual indirect cost rate | Actual direct labour hours | Indirect costs | Direct costs | Total costs |
Laguna | 41 | 960 | 39,360 | 145,025 | 184,385 |
Mission | 41 | 1,060 | 43,460 | 169,205 | 212,665 |
Company names may be different but the structure is the same! Please replace names with new...
Avery Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, Avery budgets 2017 assembly-support costs to be $8,100,000 and 2017 direct labor-hours to be 135,000. At the end of 2017, Avery is comparing the costs of several jobs that were started and completed in 2017. (Click the icon to view the data.)...
1 Data Table Laguna Model Construction period Direct materials costs Direct labor costs Direct labor-hours Feb-June 2017 106,440 $ 36,625 $ Mission Model May-Oct 2017 127,250 41,130 1,090 $ 970 Direct materials and direct labor are paid for on a contract basis. The costs of each are known when direct materials are used or when direct labor-hours are worked. The 2017 actual assembly-support costs were $7,425,000, and the actual direct labor-hours were 165,000. Print Done X Requirements 1. Compute the...
Andrews Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, Andrews budgets 2017 assembly-support costs to be $8,300,000 and 2017 direct labor-hours to be 166,000. At the end of 2017, Andrews is comparing the costs of several jobs that were started and completed in 2017 E (Click the icon to view the...
materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, Anderson budgets 2017 assembly-support costs to be $8,300,000 and 2017 direct labor-hours to be 166.000. At the end of 2017, Anderson is comparing the costs of several jobs that were started and completed in 2017 (Click the icon to view the data) Read the requirements Requirement 1. Compute the (a) budgeted indirect.cost rate and (b) actual indirect.cost...
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Andrews Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, Andrews budgets 2017 assembly-support costs to be $ 8,000,000 and 2017 direct labor-hours to be 160,000 . At the end of 2017 , Andrews is comparing the costs of several jobs that were started and completed in 2017 .Direct materials and direct...
Job costing, normal and actual costing. Atkinson Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, Atkinson budgets 2017 assembly-support costs to be $ 8,800,000 and 2017 direct labor-hours to be 220,000.At the end of 2017, Atkinson is comparing the costs of several jobs that were started and completed in 2017 .Laguna...
E4-23 (similar to) Question Help Attleboro Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, Attleboro budgets 2017 assembly-support costs to be $8,600,000 and 2017 direct labor-hours to be 215,000. At the end of 2017, Attleboro is comparing the costs of several jobs that were started and completed in 2017. (Click the...
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