Homework Answers
1.
| Estimated Cost | ||||
| Labor | Estimated hours | Hourly rate | Labor Cost | Total Cost |
| Architects | 190 | 300 | 57000 | |
| Staff | 380 | 75 | 28500 | |
| Clerical | 1000 | 20 | 20000 | |
| Total estimated labor cost | 105500 | |||
| Overhead | OH Base | OH Rate | ||
| Estimated applied overhead | 105500 | 175% | 184625 | |
| Total estimated cost | 290125 | |||
2.
| If Frey bids a price of $305,000, will it earn its target profit of $20,000? | No | |||||
3.
| Estimated selling price | $ 310,125 | |
Estimated selling price = $290125 + $20000 = $310125
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Hansel Corporation has requested bids from several architects to design its new corporate headquarters. Frey Architects...
Hansel Corporation has requested bids from several architects to design its new corporate headquarters. Frey Architects...
Hansel Corporation has requested bids from several architects to design its new corporate headquarters. Frey Architects is one of the firms bidding on the job. Frey estimates that the job will require the following direct labor. Labor Estimated Hours Hourly Rate Architects 176 $ 300 Staff 352 75 Clerical 825 20 Frey applies overhead to jobs at 175% of direct labor cost. Frey would like to earn at least $40,000 profit on the architectural job. Based on past experience and...
Exercise 15-18 Job order costing for services LO A1 Hansel Corporation has requested bids from several...
Exercise 15-18 Job order costing for services LO A1 Hansel Corporation has requested bids from several architects to design its new corporate headquarters. Frey Architects is one of the firms bidding on the job. Frey estimates that the job will require the following direct labor. Labor Estimated Hours Hourly Rate Architects 168 $ 300 Staff 336 75 Clerical 725 20 Frey applies overhead to jobs at 175% of direct labor cost. Frey would like to earn at least $55,000...
You received partial credit in the previous attempt. Check my work View previous attempt Exercise 15-18...
You received partial credit in the previous attempt. Check my work View previous attempt Exercise 15-18 Job order costing for services LO A1 Hansel Corporation has requested bids from several architects to design its new corporate headquarters. Frey Architects is one of the firms bidding on the job. Frey estimates that the job will require the following direct labor. Hourly Rate $300 Labor Architects Staff Clerical Estimated Hours 190 380 1,000 75 20 Frey applies overhead to jobs at 175%...
5 8 11 5 April 30 $ $45,000 5.600 61,000 May 31 32.000 20,900 33,700 Part...
5
8
11
5 April 30 $ $45,000 5.600 61,000 May 31 32.000 20,900 33,700 Part 3 of 4 Inventories Raw materiale Work in process Pinished goods Activities and information for May Raw materials purchases (paid with cash) Pactory payroli (paid with cash) Factory overhead Indirect materiala Indirect labor Other overhead costs Sales (received in canh) Predetermined overhead rate based on direct labor 100,000 181 points 15.000 23,000 P8,000 1,700,000 BOOK 1. Direct labor usage 2. Indirect labor usage. 3....
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 115,000 57,500 $322,000 $ 3.40 $ 6.80 During the year, Job 550 was started and completed. The following information is available with respect to this job: $ 252 $ 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 155,000 77,500 $465,000 $ 4.80 $ 9.60 During the year, Job 550 was started and completed. The following information is available with respect to this job: $ 210 $ 349 Direct...
Landen Corporation uses a job order costing system. At the beginning of the year, the company...
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 140,000 Machine-hours required to support estimated 70,000 production Fixed manufacturing overhead cost $784,000 Variable manufacturing overhead cost per direct $ 2.00 labor-hour Variable manufacturing overhead cost per machine-hour $ 4.00 During the year, Job 550 was started and completed. The following information is available with respect to this job. $ 175 $225 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 95,000 47,500 $266,000 $ 2.60 $ 5.20 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 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 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 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: $ 175 $ 225 Direct...
You received partial credit in the previous attempt. Check my work View previous attempt Exercise 15-18 Job order costing for services LO A1 Hansel Corporation has requested bids from several architects to design its new corporate headquarters. Frey Architects is one of the firms bidding on the job. Frey estimates that the job will require the following direct labor. Hourly Rate $300 Labor Architects Staff Clerical Estimated Hours 190 380 1,000 75 20 Frey applies overhead to jobs at 175%...
5
8
11
5 April 30 $ $45,000 5.600 61,000 May 31 32.000 20,900 33,700 Part 3 of 4 Inventories Raw materiale Work in process Pinished goods Activities and information for May Raw materials purchases (paid with cash) Pactory payroli (paid with cash) Factory overhead Indirect materiala Indirect labor Other overhead costs Sales (received in canh) Predetermined overhead rate based on direct labor 100,000 181 points 15.000 23,000 P8,000 1,700,000 BOOK 1. Direct labor usage 2. Indirect labor usage. 3....
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 115,000 57,500 $322,000 $ 3.40 $ 6.80 During the year, Job 550 was started and completed. The following information is available with respect to this job: $ 252 $ 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 155,000 77,500 $465,000 $ 4.80 $ 9.60 During the year, Job 550 was started and completed. The following information is available with respect to this job: $ 210 $ 349 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 140,000 Machine-hours required to support estimated 70,000 production Fixed manufacturing overhead cost $784,000 Variable manufacturing overhead cost per direct $ 2.00 labor-hour Variable manufacturing overhead cost per machine-hour $ 4.00 During the year, Job 550 was started and completed. The following information is available with respect to this job. $ 175 $225 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 95,000 47,500 $266,000 $ 2.60 $ 5.20 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 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 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 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: $ 175 $ 225 Direct...
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