Required 1 : | |||
a. | Plantwide predetermined overhead rate = ( Estimated fixed manufacturing overhead cost / Estimated direct labor hours ) + Variable manufacturing overhead cost per direct labor hour = ( 266000 / 95000 ) + 2.60 | 5.40 | per DLH |
b. | Job 550 | |
Direct materials | 273 | |
Direct labor cost | 237 | |
Manufacturing overhead ( 15 * 5.40 ) | 81 | |
Total manufacturing cost of Job 550 | 591 |
c. | Selling price = Total manufacturing cost * ( 1 + Markup % ) = 591 * ( 1 + 200% ) | 1773 |
Required 2 : | |||
a. | Predetermined overhead rate = ( Estimated fixed manufacturing overhead cost / Estimated machine hours ) + Variable manufacturing overhead cost per machine hour = ( 266000 / 47500 ) + 5.20 | 10.80 | per MH |
b. | Job 550 | |
Direct materials | 273 | |
Direct labor cost | 237 | |
Manufacturing overhead ( 5 * 10.80 ) | 54 | |
Total manufacturing cost of Job 550 | 564 |
c. | Selling price for Job 550 = Total manufacturing cost * ( 1 + Markup % ) = 564 * ( 1 + 200% ) | 1692 |
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 160,000 80,000 $ 480,000 $ 5.00 $ 10.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: $ 240 $ 233...
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 110,000 55,000 $308,000 $ 3.20 $ 6.40 During the year, Job 550 was started and completed. The following information is available with respect to this job: $ 187 $ 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 150,000 75,000 $420,000 4.60 9.20 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials $195 Direct labor cost 288...
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 $784,000 2$ 2$ 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...
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 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 60,000 30,000 $180,00 1.6 2.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor cost Direct labor-hours...
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 Pixed 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 60,000 30,000 $180,000 $ 1.00 $ 2.00 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 Pixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 125,000 62,500 $350,000 $ 3.80 $ 7.60 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor cost...