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On September...
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Vanex Co, a publicly accountable company, uses a job order system and has provided the following selected information regarding its manufacturing operations for 20x10: $448570 60406 hours 41063 hours Total estimated overhead Total estimated direct labour hours Total direct labour hours incurred Manufacturing overhead costs incurred: Indirect labour Indirect materials Utilities $115385 216065 144040 Which of the following would be included in the journal entry to...
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The following costs were incurred to complete 3 jobs during the year Direct materials Direct labour Job Al $2384 $4278 Job G1 $1272 $3351 Job A2 $3032 $2996 In addition, the supervisor's salary (who is responsible for monitoring the whole 3rd and 4th floors of the factory) is $82961. The journal entries for the year will include which of the following: Select one: a. A debit...
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You are given the following data for Skylar Ltd.: Direct Labour Hours Overhead Costs 25700 $630800 January 32600 $700100 February 45117 $887306 March 37500 $720500 April 40349 $909220 May 21235 $624133 June July 23700 $651000 August 39200 $759000 September 41884 $751261 October 23082 $614932 November 25200 $620100 December 30100 $682000 Using the high-low method, what is the variable overhead cost per direct labour hour? Select one:...
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Fred Co., a publicly accountable company, applies manufacturing overhead to jobs using a predetermined overhead rate that is based on direct labour costs. Data for the most recent year is as follows: Actual direct labour hours 8687 Direct labour rate $10/hour Actual manufacturing overhead costs $95770 At the end of the year, Fred Co, disposed of over under-applied overhead by crediting COGS for $8874. What was...
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You are given the following data for Skylar Ltd. Direct Labour Hours January 25700 February 32600 March 45090 April 37500 May 40400 June 21052 July 23700 August 39200 September October 24000 November 25200 December Overhead Costs $630800 $700100 $884664 $720500 $910300 $629960 $651000 $759000 $751513 $615200 $620100 $654269 41004 Using the high-low method, estimate the total overhead at a volume of 30,000 direct labour hours: Select...
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Horla Co's manufacturing operations recorded the following information for the month of March 20x9: Inventories Mar. 1.20x9 Mar. 31, 20x9 Direct materials $ 32390 $ 30582 Work in process 21420 12481 Finished goods 48034 69109 $93263 65291 Additional information for the month of March: Direct materials purchased Direct labour costs incurred Direct labour rate per hour Factory overhead rate per direct labour hour What were the...
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Thing Co. uses a job order costing system. At the beginning of July, the company had the following job in progress: $22508 Job 70 During July, Thing Co. incurred the following job related costs: Direct Materials Direct Labour $3786 $1563 Job 70 15322 Job 80 12983 8447 7768 Job 90 Manufacturing overlicad is applied at a rate of S2.89 per $1 of direct labour cost. Jobs...
On September 30, the fixed manufacturing overhead account of Gordon Ltd. showed a debit balance of...
On September 30, the fixed manufacturing overhead account of Gordon Ltd. showed a debit balance of $6489 after fixed manufacturing overhead had been applied for the month. If the actual total manufacturing overhead cost incurred in September was $102837 and the production was 7607 units, then what was the rate for applying fixed manufacturing overhead cost? Select one: a. $ 13.67 per unit b. $ 12.67 per unit c. $ 14.37 per unit d. $ 13.52 per unit Phillis Ltd....
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You enter into a three year service contract. The total contract price is $23023. Costs incurred in the first year are $5247 and the expected costs to complete the contract are $6683. How much profit will be recognized on this contract in the first year? Select one: o a. 57818 ob. $11093 o c. 54879 d. 50
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Bella Construction Co. uses the percentage-of-completion method. In 20x1, Bella began work on a contract for $2276800; it was completed in 20x2. The following cost data pertain to this contract: Year ended December 31 20x120x2 $767287 $595787 Costs incurred during the year Estimated costs to complete at the of year 478591 The amount of gross profit to be recognized on the income statement for the year...
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Vanex Co, a publicly accountable company, uses a job order system and has provided the following selected information regarding its manufacturing operations for 20x10: $448570 60406 hours 41063 hours Total estimated overhead Total estimated direct labour hours Total direct labour hours incurred Manufacturing overhead costs incurred: Indirect labour Indirect materials Utilities $115385 216065 144040 Which of the following would be included in the journal entry to...
Please show all steps so I can fully understand how to
solve. thank you
The following costs were incurred to complete 3 jobs during the year Direct materials Direct labour Job Al $2384 $4278 Job G1 $1272 $3351 Job A2 $3032 $2996 In addition, the supervisor's salary (who is responsible for monitoring the whole 3rd and 4th floors of the factory) is $82961. The journal entries for the year will include which of the following: Select one: a. A debit...
please show all steps so I can fully understand how to
solve. thank you
You are given the following data for Skylar Ltd.: Direct Labour Hours Overhead Costs 25700 $630800 January 32600 $700100 February 45117 $887306 March 37500 $720500 April 40349 $909220 May 21235 $624133 June July 23700 $651000 August 39200 $759000 September 41884 $751261 October 23082 $614932 November 25200 $620100 December 30100 $682000 Using the high-low method, what is the variable overhead cost per direct labour hour? Select one:...
Please show all steps so I can fully understand how to
solve. thank you
Fred Co., a publicly accountable company, applies manufacturing overhead to jobs using a predetermined overhead rate that is based on direct labour costs. Data for the most recent year is as follows: Actual direct labour hours 8687 Direct labour rate $10/hour Actual manufacturing overhead costs $95770 At the end of the year, Fred Co, disposed of over under-applied overhead by crediting COGS for $8874. What was...
Please show all steps so I can fully understand how to
solve. thank you
You are given the following data for Skylar Ltd. Direct Labour Hours January 25700 February 32600 March 45090 April 37500 May 40400 June 21052 July 23700 August 39200 September October 24000 November 25200 December Overhead Costs $630800 $700100 $884664 $720500 $910300 $629960 $651000 $759000 $751513 $615200 $620100 $654269 41004 Using the high-low method, estimate the total overhead at a volume of 30,000 direct labour hours: Select...
Please show all steps so I can fully understand how to
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Horla Co's manufacturing operations recorded the following information for the month of March 20x9: Inventories Mar. 1.20x9 Mar. 31, 20x9 Direct materials $ 32390 $ 30582 Work in process 21420 12481 Finished goods 48034 69109 $93263 65291 Additional information for the month of March: Direct materials purchased Direct labour costs incurred Direct labour rate per hour Factory overhead rate per direct labour hour What were the...
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Thing Co. uses a job order costing system. At the beginning of July, the company had the following job in progress: $22508 Job 70 During July, Thing Co. incurred the following job related costs: Direct Materials Direct Labour $3786 $1563 Job 70 15322 Job 80 12983 8447 7768 Job 90 Manufacturing overlicad is applied at a rate of S2.89 per $1 of direct labour cost. Jobs...
please show all steps so I can fully understand how to
solve. thank you
You enter into a three year service contract. The total contract price is $23023. Costs incurred in the first year are $5247 and the expected costs to complete the contract are $6683. How much profit will be recognized on this contract in the first year? Select one: o a. 57818 ob. $11093 o c. 54879 d. 50
please show all steps so I can fully understand how to
solve. thank you
Bella Construction Co. uses the percentage-of-completion method. In 20x1, Bella began work on a contract for $2276800; it was completed in 20x2. The following cost data pertain to this contract: Year ended December 31 20x120x2 $767287 $595787 Costs incurred during the year Estimated costs to complete at the of year 478591 The amount of gross profit to be recognized on the income statement for the year...
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