1 | ||||||
Predetermined overhead rate | Total overhead costs/Estimated direct labor hours | |||||
Predetermined overhead rate | (405000+(30000*1))/30000 | |||||
Predetermined overhead rate | 435000/30000 | |||||
Predetermined overhead rate | $14.50 | per DLH | ||||
2 | ||||||
Calculation of total job costs | ||||||
Direct materials | $619 | |||||
Direct labor costs | $113 | |||||
Overhead applied (4*14.50) | $58 | |||||
Total job costs | $790 | |||||
3 | ||||||
Calculation of selling price | ||||||
Total job costs | $790 | |||||
Add: Mark-up | $316 | 790*40% | ||||
Selling price | $1,106 | |||||
Problem 2-18 Job-Order Costing for a Service Company (LO2-1, LO2-2, LO2-3] Speedy Auto Repairs uses a...
Problem 2-18 Job-Order Costing for a Service Company (LO2-1, LO2-2, LO2-3] Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct...
Problem 2-18 Job-Order Costing for a Service Company (LO2-1, LO2-2, LO2-3] Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room The company applies all of its overhead costs to jobs based on direct...
Problem 2-18 Job-Order Costing for a Service Company [LO2-1, LO2-2, LO2-3] Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct...
Problem 2-18 Job-Order Costing for a Service Company (LO2-1, LO2-2, LO2-3) Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room The company applies all of its overhead costs to jobs based on direct...
Problem 2-18 Job-Order Costing for a Service Company (LO2-1, LO2-2, LO2-3] Speedy Auto Repairs uses a job order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages, Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room The company applies all of its overhead costs to jobs based on...
Problem 2-18 Job-Order Costing for a Service Company (LO2-1, LO2-2, LO2-3] Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct...
PROBLEM 2-18 Job-Order Costing for a Service Company LO2-1, LO2-2, LO2-3 Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct...
Problem 2-18 Job-Order Costing for a Service Company (L02-1, LO2-2, LO2-3) Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct...
Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following...
Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages, Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following...