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