Homework Answers
1.
| Estimated manufacturing cost | / | Estimated direct labor hour | = | Predetermined overhead rate |
| 784,700 | / | 41,300 | = | $19 per hour |
Direct labor hour used in Job 308 = 190
Direct labor rate = $22 per hour
Direct labor cost of Job 308 = Direct labor hour used in Job 308 x Direct labor rate
= 190 x 22
= $4,180
Overhead applied to Job 308 = Direct labor hour used in Job 308 x Predetermined overhead rate
= 190 x 19
= $3,610
Total manufacturing cost of Job 308 = Direct materials + Direct labor + Overhead applied
= 13,300+4,180+3,610
= $21,090
2.
Mark up = 21% of total manufacturing cost
= 21,090 x 21%
= 4,429
Price to be paid for playground equipment = Total manufacturing cost + Mark up
= 21,090+4,429
= $25,519
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i Requirements 1. Calculate the manufacturing cost of Job 308. 2. How much will the City...
Requirements: 1. Calculate the manufacturing cost of Job 302. 2. How much will the City of...
Requirements:
1. Calculate the manufacturing cost of Job
302.
2. How much will the City of Northville pay for this
playground equipment?
All Wood Industries manufactures custom-designed playground equipment for schools and city parks. All Wood expected to incur $627,000 of manufacturing overhead cost, 41,800 of direct labor hours, and $836,000 of direct labor cost during the year (the cost of direct labor is $20 per hour). The company allocates manufacturing overhead on the basis of direct labor hours. During...
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Requirements: 1. Compute Young's predetermined manufacturing overhead rate. 2. How much manufacturing overhead was allocated to...
Requirements:
1.
Compute Young's predetermined manufacturing overhead rate.
2.
How much manufacturing overhead was allocated to jobs during
the year?
3.
How much manufacturing overhead was incurred during the year?
Is manufacturing overhead underallocated or overallocated at the
end of the year? By how much?
4.
Were the jobs overcosted or undercosted? By how much?
Young Foundry in Altanta, Georgia, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the...
1. calculate plantwide predetermined overhead rate. 2. complete the job cost sheet for job alpha: Direct...
1. calculate plantwide predetermined overhead
rate.
2. complete the job cost sheet for job alpha:
Direct materials
Direct labor
manufacturing overhead applied
total job cost
Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $14.50 per hour. During the year, the company started and completed only two jobs-Job Alpha, which used 69.700 direct labor-hours, and Job Omega. The job cost sheets for the these...
Response Questions Part A ToB A) Fill out 2 boxes for Total job cost (per unit)...
Response Questions Part A ToB A) Fill out 2 boxes for Total job cost (per unit) and Gross profit (per unit) below More Info * More Info - X Lounge Lizard allocates manufacturing overhead at a rate of $11 per direct labor hour. Lumber: 48 units at $4 per unit Padding: 13 yards at $18 per yard Upholstery fabric: 31 yards at $29 per yard Holly Pulsifer: 14 hours at $10 per hour Elizabeth Dickerson: 19 hours at $22 per...
Requirements:
1. Calculate the manufacturing cost of Job
302.
2. How much will the City of Northville pay for this
playground equipment?
All Wood Industries manufactures custom-designed playground equipment for schools and city parks. All Wood expected to incur $627,000 of manufacturing overhead cost, 41,800 of direct labor hours, and $836,000 of direct labor cost during the year (the cost of direct labor is $20 per hour). The company allocates manufacturing overhead on the basis of direct labor hours. During...
E3-19A (similar to) Question Help Love It Industries manufactures custom-designed playground equipment for schools and city parks. Love It expected to incur $627,000 of manufacturing overhead cost, 41,800 of direct labor hours, and $1,254,000 of direct labor cost during the year (the cost of direct labor is $30 per hour). The company allocates manufacturing overhead on the basis of direct labor hours. During March, Love It completed Job 308. The job used 200 direct labor hours and required $15,100 of...
Love It Industries manufactures custom-designed playground equipment for schools and city parks. Love It expected to incur $906,400 of manufacturing overhead cost, 41,200 of direct labor hours, and $1,153,600 of direct labor cost during the year (the cost of direct labor is $28 per hour). The company allocates manufacturing overhead on the basis of direct labor hours. During December, Love It completed Job 307. The job used 155 direct labor hours and required $14,800 of direct materials. The City of...
PG Industries manufactures custom-designed playground equipment for schools and city parks. PG expected to incur $533,000 of manufacturing overhead cost, 41,000 of direct labor hours, and $820,000 of direct labor cost during the year (the cost of direct labor is $20 per hour). The company allocates manufacturing overhead on the basis of direct labor hours. During December, PG completed Job 309. The job used 165 direct labor hours and required $15,400 of direct materials. The City of Adams has contracted...
E3-19A (similar to) Question Help * PG Industries manufactures custom-designed playground equipment for schools and city parks. PG expected to incur $533,000 of manufacturing overhead cost 41,000 of direct labor hours, and $820,000 of direct labor cost during the year (the cost of direct labor is $20 per hour) The company allocates manufacturing overhead on the basis of direct labor hours. During December, PG completed Job 309 The job used 165 direct labor hours and required $15.400 of direct materials....
Have Fun Industries manufactures custom-designed playground equipment for schools and city parks. Have Fun expected to incur $627,000 of manufacturing overhead cost, 41,800 of direct labor hours, and $1,254,000 of direct labor cost during the year (the cost of direct labor is $30 per hour). The company allocates manufacturing overhead on the basis of direct labor hours. During November Have Fun completed Job 301. The job used 160 direct labor hours and required $15,100 of direct materials. The City of...
All Wood Industries manufactures custom-designed playground equipment for schools and city parks. All Wood expected to incur $707,200 of manufacturing overhead cost, 41,600 of direct labor hours, and $915,200 of direct labor cost during the year (the cost of direct labor is $22 per hour) The company allocates manufacturing overhead on the basis of direct labor hours During January, All Wood completed Job 302. The job used 165 direct labor hours and required $14,800 of direct materials. The City of...
Requirements:
1.
Compute Young's predetermined manufacturing overhead rate.
2.
How much manufacturing overhead was allocated to jobs during
the year?
3.
How much manufacturing overhead was incurred during the year?
Is manufacturing overhead underallocated or overallocated at the
end of the year? By how much?
4.
Were the jobs overcosted or undercosted? By how much?
Young Foundry in Altanta, Georgia, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the...
1. calculate plantwide predetermined overhead
rate.
2. complete the job cost sheet for job alpha:
Direct materials
Direct labor
manufacturing overhead applied
total job cost
Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $14.50 per hour. During the year, the company started and completed only two jobs-Job Alpha, which used 69.700 direct labor-hours, and Job Omega. The job cost sheets for the these...
Response Questions Part A ToB A) Fill out 2 boxes for Total job cost (per unit) and Gross profit (per unit) below More Info * More Info - X Lounge Lizard allocates manufacturing overhead at a rate of $11 per direct labor hour. Lumber: 48 units at $4 per unit Padding: 13 yards at $18 per yard Upholstery fabric: 31 yards at $29 per yard Holly Pulsifer: 14 hours at $10 per hour Elizabeth Dickerson: 19 hours at $22 per...
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