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Actual direct material costs, Actual direct labor costs and applied factory overhead costs. |
For second multiple choice answers the question is not provided so I cannot answer. |
Lupo Corporation | ||
Calculation of Predetermined OH Rate | Amount $ | Note |
Total Machine Hours | 30,900.00 | A |
Fixed Manufacturing overhead | 154,500.00 | B |
Predetermined OH Rate | 5.00 | C=B/A |
Calculation of overhead applied to Job T687 | ||
Machine hours used | 30.00 | D |
Predetermined OH Rate- Fixed | 5.00 | |
Variable OH Rate | 3.00 | |
Total OH Rate per hour | 8.00 | |
Manufacturing overhead cost | 240.00 | H=C*D |
Cost of Job T687 | ||
Direct material | 740.00 | |
Direct Labor cost | 1,480.00 | See F |
Manufacturing overhead cost | 240.00 | See H |
Cost of Job T687 | 2,460.00 | |
Number of units | 10.00 | |
Cost per unit | 246.00 | |
Markup by 40% | 98.40 | |
Sell price per unit | 344.40 | |
So answer is option C $ 344.40. |
Look manufacturing Corporation | ||||||||
Calculation of ABC rates for overhead | A | B | C=B/A | |||||
Activity cost pool | Cost Driver | Cost | Activity | ABC rates | ||||
Supporting direct labor | Direct Labor hours | 441,660.00 | 25,980.00 | 17.00 | ||||
Setting up machines | Number of Setups | 376,740.00 | 2,691.00 | 140.00 | ||||
Parts administration | Part Types | 475,764.00 | 967.00 | 492.00 | ||||
Total Cost assigned | 1,294,164.00 | |||||||
See C | D | D=C*D | ||||||
Allocation table | Product M09K |
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Activity cost pool | Cost Driver | ABC Rates | Activity used | Cost assigned | ||||
Supporting direct labor | Direct Labor hours | 17.00 | 16,100.00 | 273,700.00 | ||||
Setting up machines | Number of Setups | 140.00 | 971.00 | 135,940.00 | ||||
Parts administration | Part Types | 492.00 | 332.00 | 163,344.00 | ||||
Total Cost assigned | 572,984.00 | E | ||||||
Number of units | 16,100.00 | F | ||||||
Overhead cost per unit | 35.59 | G=E/F | ||||||
So answer is option D $ 35.59. |
Which of the following would usually be found on a job cost sheet under a normal...
Which of the following would usually be found on a job cost sheet under a normal cost system? Actual direct material cost Yes Yes No Actual manufacturing overhead cost Yes No Yes ΝΟ B) C) NO Multiple Choice Choice C Choice D Choice A Choice B Which of the following statements is not correct concerning multiple overhead rate systems? Multiple Choice C) A multiple overhead rate system is usually more accurate than a system based on a single plantwide overhead...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine- hour 31,500 $ 220,500 $ 6.00 Recently, Job T687 was completed with the following characteristics: 10 Number of units in the job Total machine-hours Direct materials Direct labor cost 40 $ 685 $1,370 If the company...
TB MC Qu. 2-135 Lupo Corporation uses a job-order costing ... Lupo Corporation uses a job order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based Its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine- hour 32,600 $195,600 $ 4.00 Recently, Job T687 was completed with the following characteristics: Number of units in the 10 Job Total machine-hours Direct...
Which of the following would usually be found on a job cost sheet under a normal cost system? Actual direct material cost Actual manufacturing overhead cost Yes Yes Yes No Yes NO Multiple Choice o Choice D o ) Choice т o ( Choice o Choice C
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 30,000 Total fixed manufacturing overhead cost $ 252,000 Variable manufacturing overhead per machine-hour $ 2.10 Recently, Job T687 was completed with the following characteristics: Number of units in the job 10 Total machine-hours 30 Direct materials $ 675 Direct labor cost $ 1,050 The estimated total...
Which of the following would usually be found on a job cost sheet under a normal cost system? Actual direct material cost Actual manufacturing overhead cost Yes Yes COS Yes No NO Multiple Choice Choice B O o Choice C choice C O Choice D O Choice A
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 32,000 $352,000 $ 3.00 Recently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials Direct labor cost 10 40 $ 675 $1,350 If the company marks up...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 32,300 $581,400 $ 2.00 Recently, Job T687 was completed with the following characteristics: 10 40 Number of units in the job Total machine-hours Direct materials Direct labor cost $ 630 $1,260 The unit product cost for...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine- hour 31,000 $310,000 $ Recently, Job T687 was completed with the following characteristics: 10 Number of units in the job Total machine-hours Direct materials Direct labor cost 30 $ 730 $1,460 The unit product cost for...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 32,000 $352,000 $ 3.ee Recently, Job T687 was completed with the following characteristics: Number of units in the job Total nachine-hours Direct materials Direct labor cost 10 40 $ 675 $1,350 The unit product cost for...