Question

Check my work Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the followin
Saved Help Save & Exit Submit Check my work Required: 1. Assume that Landen has historically used a plantwide predetermined o
c. If Landen uses a markup percentage (additional) of 200% of its total manufacturi establish for Job 550? (Round your Interm
0 0
Add a comment Improve this question Transcribed image text
Answer #1
1) Using Direct Labor hours as allocation base
a) Predetermined OH rate = (Fixed Manu. OH / Direct labor Hours) + Variable Manu. OH cost per DLH
= ($ 180000 / 60000) + $ 1
= $      4.00 per DLH
b) Total Manu. Cost of Job 550
Direct Materials $ 213.00
Direct Labor $ 323.00
OH (15 x $ 4) $   60.00
$ 596.00
c) Selling Price
Total Manu. Cost $    596.00
Add: Mark up (200%) $ 1,192.00
$ 1,788.00
2) Using Machine hours as allocation base
a) Predetermined OH rate = (Fixed Manu. OH / Machine Hours) + Variable Manu. OH cost per MH
= ($ 180000 / 30000) + $ 2
= $      8.00 per MH
b) Total Manu. Cost of Job 550
Direct Materials $ 213.00
Direct Labor $ 323.00
OH (5 x $ 8) $   40.00
$ 576.00
c) Selling Price
Total Manu. Cost $    576.00
Add: Mark up (200%) $ 1,152.00
$ 1,728.00
Add a comment
Know the answer?
Add Answer to:
Check my work Landen Corporation uses a job-order costing system. At the beginning of the year,...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Landen Corporation uses a job-order costing system. At the beginning of the year, the company made...

    Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 160,000 80,000 $ 480,000 $ 5.00 $ 10.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: $ 240 $ 233...

  • Landen Corporation uses a job-order costing system. At the beginning of the year, the company made...

    Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 110,000 55,000 $308,000 $ 3.20 $ 6.40 During the year, Job 550 was started and completed. The following information is available with respect to this job: $ 187 $ 370 Direct...

  • Landen Corporation uses a job-order costing system. At the beginning of the year, the company made...

    Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor- hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 140, 000 70, 000 $784,000 2$ 2$ 2.00 4.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials...

  • Landen Corporation uses a job-order costing system. At the beginning of the year, the company made...

    Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 150,000 75,000 $420,000 4.60 9.20 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials $195 Direct labor cost 288...

  • Check my work Landen Corporation uses a job-order costing system. At the beginning of the year,...

    Check my work Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 140,000 70,000 $784,000 $ 2.00 $4.00 1.25 points eBook Print During the year, Job 550 was started and completed. The following information is available with respect to this...

  • Landen Corporation uses a job-order costing system. At the beginning of the year, the company made...

    Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 60,000 30,000 $180,00 1.6 2.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor cost Direct labor-hours...

  • Landen Corporation uses a job-order costing system. At the beginning of the year, the company made...

    Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Pixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 125,000 62,500 $350,000 $ 3.80 $ 7.60 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor cost...

  • Landen Corporation uses a job-order costing system. At the beginning of the year, the company made...

    Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Pixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 140,000 70,000 $ 784,000 $ 2.00 $ 4.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor...

  • Landen Corporation uses a job-order costing system. At the beginning of the year, the company made...

    Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 60,000 30,000 $180,000 $ 1.00 $ 2.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor cost...

  • Check my wo 2 Landen Corporation uses a job-order costing system. At the beginning of the...

    Check my wo 2 Landen Corporation uses a job-order costing system. At the beginning of the year, the company made following estimates: 1 points Direct labor-hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 160,000 80,000 $480,000 $ 5.00 $ 10.00 03:25:40 During the year, Job 550 was started and completed. The following information is available with respe this job:...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT