Homework Answers
Solution:
Predetermined overhead rate = Estimated overhead / estimated machine hours = $200,000 / 10000 = $20 per machine hour
Total cost assigned to Job 2 = Direct material + labor + overhead
= $50000 + $10000 + (100*$20)
= 62000
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X Company manufactures custom cabinets. Direct materials (wood, hinges, etc) and direct labor are assigned directly...
X Company manufactures custom cabinets. Direct materials (wood, hinges, etc) and direct labor are assigned directly...
X Company manufactures custom cabinets. Direct materials (wood, hinges, etc) and direct labor are assigned directly to the products. Manufacturing overhead is assigned to jobs using a predetermined overhead rate based on machine hours. Cost (Item) 2014 Actual 2015 Estimated 2015 Actual Machine hours 8,500 10,000 10,500 Machine Repairs $184,500 $200,000 $209,000 Factory Supervisor Salary $60,000 $60,000 $60,000 Oil for machines $2,100 $2,000 $2,050 Advertising $42,000 $45,000 $45,500 Depreciation-Machines $10,000 $10,000 $10,000 Sales Commissions $35,000 $40,000 $41,000 Factory Utilities $32,000...
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Data Table - X The Macy Corportion manufactures custom cabinets for kitchens. Its a normal.costing system with two direct cost categories direct materials and direct manufacturing labor and one direct contpool manufacturing overhead cos it provides the following information for Apr 2020 Click the icon to view the information for 2020) Road $ Budgeted manufacturing overhead costs Budgeted direct manufacturing labor hours 068,000 31,000 hours Print Done Present the journal entry for (a) usage of direct and indirect materials (Record...
Macy Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct...
Macy Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cont categories direct materials and direct manufacturing labor and one indirect cost pool, manufacturing overhead costs. It provides the following information for April 2020 Click the icon to view the information for 2020) The following information is also available for 2020 (Click the icon to view the additional information) Read the requirement Data Table Data Table s $ 1,295,000 $ Budgeted manufacturing overhead costs...
X Company manufactures custom cabinets. Direct materials (wood, hinges, etc) and direct labor are assigned directly to the products. Manufacturing overhead is assigned to jobs using a predetermined overhead rate based on machine hours. Cost (Item) 2014 Actual 2015 Estimated 2015 Actual Machine hours 8,500 10,000 10,500 Machine Repairs $184,500 $200,000 $209,000 Factory Supervisor Salary $60,000 $60,000 $60,000 Oil for machines $2,100 $2,000 $2,050 Advertising $42,000 $45,000 $45,500 Depreciation-Machines $10,000 $10,000 $10,000 Sales Commissions $35,000 $40,000 $41,000 Factory Utilities $32,000...
direct materials and direct manufacturing Donna Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categories labor--and one indirect cost pool, manufacturing overhead costs It provides the following information for 2017 Click the icon to view the information for 2017) Read the requirement Begin by calculating the budgeted Indirect cost rate. Select the formula and then calculate the rate (Assume the cost allocation base is direct labor hours) Budgeted manufacturing overhead costs Budgeted...
Janes Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories direct materials and direct manufacturing labor-and one indirect-cost pool, manufacturing overhead costs. It provides the following information for 2020: (Click the icon to view the information for 2020.) Read the requirement Begin by calculating the budgeted indirect cost rate. Select the formula and then calculate the rate. (Assume the cost allocation base is direct labor hours.) Budgeted manufacturing overhead costs Budgeted labor hours Budgeted...
Kimberfee Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories ---direct materials and direct manufacturing labor-and one indirect-cost pool, manufacturing overhead costs. It provides the following information for 2020: Click the icon to view the information for 2020.) Read the requirement Begin by calculating the budgeted indirect cost rate. Select the formula and then calculate the rate. (Assume the cost allocation base is direct labor hours.) - Budgeted indirect cost rate Now calculate the...
Clara Corporation manufactures custom cabinets for watchens. Il es a normal.coming wstem with two dred.coolcatogories direct materials and direct manufacturing labor and one indirect cost pool manufacturing overhead costs provides the following information for 2020 Click the icon to view the information for 2020) Read the forement Begin by calculating the budget directorate Select the formula and the calculate the rate (Assume the cost location base is direct labor hours) Budged manufacturing overhead costs Budgeted labor hours Buod indirect costat...
Janes Corporation manufacturos custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories direct materials and direct manufacturing laborand one indirect-cost pool, manufacturing overhead costs. It provides the following information for 2020: (Click the icon to view the information for 2020.) Read the requirement. Begin by calculating allocation base is a je the cost X Data Table indirect cost rate $ Now calculate the Budgeted manufacturing overhead costs Budgeted direct manufacturing labor-hours Actual manufacturing overhead costs Actual...
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...
The Nautical Corporation manufactures custom-made wood wall units. The following data pertains to Job X4A: Direct materials placed into production $9,000 Direct labor hours worked 300 hours $15 Direct labor rate per hour Machine hours worked 100 hours Factory overhead rate is $22.50 per machine hour. Job X4A consists of 500 units. Refer to Figure 5-1. One-half of Job X4A was sold for S10,000. What is the total amount of costs assigned to Job X4A? O $20,250 O $15,750 O...
Data Table - X The Macy Corportion manufactures custom cabinets for kitchens. Its a normal.costing system with two direct cost categories direct materials and direct manufacturing labor and one direct contpool manufacturing overhead cos it provides the following information for Apr 2020 Click the icon to view the information for 2020) Road $ Budgeted manufacturing overhead costs Budgeted direct manufacturing labor hours 068,000 31,000 hours Print Done Present the journal entry for (a) usage of direct and indirect materials (Record...
Macy Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cont categories direct materials and direct manufacturing labor and one indirect cost pool, manufacturing overhead costs. It provides the following information for April 2020 Click the icon to view the information for 2020) The following information is also available for 2020 (Click the icon to view the additional information) Read the requirement Data Table Data Table s $ 1,295,000 $ Budgeted manufacturing overhead costs...
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