Homework Answers
103) Overhead rate = 64000/160000 = 40%
| Job 747 | |
| Direct material | 24000 |
| Direct labor | 40000 |
| Overhead (40000*40%) | 16000 |
| Under applied overhead (2000*40000/168000) | 476 |
| Total | 80476 |
So answer is c) $80456
105) Calculate cost of goods sold
| Direct material | 36000 |
| Direct labor | 56000 |
| Overhead (56000*40%) | 22400 |
| Under applied overhead | 100 |
| Adjusted cost of goods sold | 114500 |
So answer is c) $114500
Add Answer to:
Please explain both question. Thanks a lot.
FULL SCREEN PRINTER VERSION BACK estbank, Question 103 tar...
Star Company’s accountants estimate total overhead for each month will be $64,000. They will allocate overhead...
Star Company’s accountants estimate total overhead for each month will be $64,000. They will allocate overhead on the basis of direct labour cost. During the current month, three jobs were worked on: Job 745, Job 746, Job 747 Direct material: $36,000, $56,000, $24,000 Direct labour $56,000, $72,000, $40,000, Job 745 was completed and sold, Job 746 was completed and Job 747 is still in process. Budgeted direct labour cost for the month was $160,000 and actual overhead was $65,800. Assuming...
Star Company’s accountants estimate total overhead for each month will be $64,000. They will allocate overhead...
Star Company’s accountants estimate total overhead for each month will be $64,000. They will allocate overhead on the basis of direct labour cost. During the current month, three jobs were worked on: Job 745 Job 746 Job 747 Direct material $36,000 $56,000 $24,000 Direct labour $56,000 $72,000 $40,000 Job 745 was completed and sold, Job 746 was completed and Job 747 is still in process. Budgeted direct labour cost for the month was $160,000 and actual overhead was $65,800. Assuming...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Problem 15-01A Lott Company uses a job order cost...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Problem 15-01A Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22.800, direct labor $13.680, and manufacturing overhead $18,240. As of January 1, Job 49 had been completed at a cost of $102,600 and was...
CALCULATOR MESSAGE HY INSTRUCTOR FUL SCREEN PRINTER VERSION BACK NEXT Lott Company uses a job order...
CALCULATOR MESSAGE HY INSTRUCTOR FUL SCREEN PRINTER VERSION BACK NEXT Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,000, direct labor $13,080, and manufacturing overhead $17,440. As of January 1, Job 49 had been completed at a cost of $98,100 and...
PRINTER VERSION BACK NEXT Question 3 Pedro Morales and Associates, a CPA firm, uses job-order costing...
PRINTER VERSION BACK NEXT Question 3 Pedro Morales and Associates, a CPA firm, uses job-order costing to capture the costs of its audit jobs. There were no audit jobs in process at the beginning of November. Listed below are data concerning the three audit jobs conducted during November Koppel Dupont Rojas Direct materials $760 $470 $330 Auditor labour costs $5,580 $6,700 $3,425 Auditor hours 73 92 40 Overhead costs are applied to jobs on the basis of auditor hours, and...
Explain both questions please. Testbank, Question 111 Raw Material Work in Process Finished Goods 12.0001 Overhead...
Explain both questions please.
Testbank, Question 111 Raw Material Work in Process Finished Goods 12.0001 Overhead Accounts 8.000 • The overhead is allocated to jobs using an estimated rate applied to direct labour hours. The budget for the year called for $180,000 of overhead cost and 60.000 direct labour hours, • Accounts payable is used for materials only. The balance on 9/1 was $6,000. September's payments were $40,000. September 1 finished goods inventory was $11,000. . Cost of jobs completed...
ter N CALCULATOR FULL SCREEN PRINTER W O N DER oblem 15-01A ott Company uses a...
ter N CALCULATOR FULL SCREEN PRINTER W O N DER oblem 15-01A ott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job so was the only job in process. The costs incurred rior to January 1 on this job were as follows: direct materials $23,400, direct labor $14,040, and manufacturing overhead $18,720. As of January 1, 49 had been completed at a cost of -105,300...
CALCULATOR STANDARD VIEW PRINTER VERSION BACK Problem 15-01A Lott Company uses a job order cost system...
CALCULATOR STANDARD VIEW PRINTER VERSION BACK Problem 15-01A Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prio January 1 on this job were as follows: direct materials $23,800, direct labor $14,280, and manufacturing overhead $19,040. As of January 1, Job 49 had been completed at a cost of $107,100 aw was part of...
Please show work, thank you! 1. Compute the predetermined overhead rate for the year. 2.Compute the...
Please show work, thank you!
1. Compute the predetermined overhead rate for the year.
2.Compute the amount of underapplied or overapllied overhead
for the year.
Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production(not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $113,100 of manufacturing overhead for an estimated allocation base of $87000 direct material dollars...
question Question: Company A had the following transactions in January. All went to one job. Company...
question
Question: Company A had the following transactions in January. All
went to one job.
Company A had the following transactions in January. All went to one job. 1. Purchased Raw Materials on account for 46,300 2. 36.000 of Raw materials were issued from the stockroom to manufacturing, Of this total 8,800 was indirect material and 27.200 was direct material 3. Salaries paid to factory workers was 55,000. All was paid in cash, ignore payroll taxes. 4. Labor was charged...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Problem 15-01A Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22.800, direct labor $13.680, and manufacturing overhead $18,240. As of January 1, Job 49 had been completed at a cost of $102,600 and was...
CALCULATOR MESSAGE HY INSTRUCTOR FUL SCREEN PRINTER VERSION BACK NEXT Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,000, direct labor $13,080, and manufacturing overhead $17,440. As of January 1, Job 49 had been completed at a cost of $98,100 and...
PRINTER VERSION BACK NEXT Question 3 Pedro Morales and Associates, a CPA firm, uses job-order costing to capture the costs of its audit jobs. There were no audit jobs in process at the beginning of November. Listed below are data concerning the three audit jobs conducted during November Koppel Dupont Rojas Direct materials $760 $470 $330 Auditor labour costs $5,580 $6,700 $3,425 Auditor hours 73 92 40 Overhead costs are applied to jobs on the basis of auditor hours, and...
Explain both questions please.
Testbank, Question 111 Raw Material Work in Process Finished Goods 12.0001 Overhead Accounts 8.000 • The overhead is allocated to jobs using an estimated rate applied to direct labour hours. The budget for the year called for $180,000 of overhead cost and 60.000 direct labour hours, • Accounts payable is used for materials only. The balance on 9/1 was $6,000. September's payments were $40,000. September 1 finished goods inventory was $11,000. . Cost of jobs completed...
ter N CALCULATOR FULL SCREEN PRINTER W O N DER oblem 15-01A ott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job so was the only job in process. The costs incurred rior to January 1 on this job were as follows: direct materials $23,400, direct labor $14,040, and manufacturing overhead $18,720. As of January 1, 49 had been completed at a cost of -105,300...
CALCULATOR STANDARD VIEW PRINTER VERSION BACK Problem 15-01A Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prio January 1 on this job were as follows: direct materials $23,800, direct labor $14,280, and manufacturing overhead $19,040. As of January 1, Job 49 had been completed at a cost of $107,100 aw was part of...
Please show work, thank you!
1. Compute the predetermined overhead rate for the year.
2.Compute the amount of underapplied or overapllied overhead
for the year.
Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production(not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $113,100 of manufacturing overhead for an estimated allocation base of $87000 direct material dollars...
question
Question: Company A had the following transactions in January. All
went to one job.
Company A had the following transactions in January. All went to one job. 1. Purchased Raw Materials on account for 46,300 2. 36.000 of Raw materials were issued from the stockroom to manufacturing, Of this total 8,800 was indirect material and 27.200 was direct material 3. Salaries paid to factory workers was 55,000. All was paid in cash, ignore payroll taxes. 4. Labor was charged...
Most questions answered within 3 hours.
-
Phosphorous + bromine = phosphorous tribromide. If 35.0 g of
bromine are reacted and 27.9 grams...
asked 1 hour ago -
Derive the long wavelength limit of the Planck energy density
distribution
asked 1 hour ago -
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 4 hours ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 4 hours ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 4 hours ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 5 hours ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 5 hours ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 5 hours ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 5 hours ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 5 hours ago -
Create a button in Swift (Xcode) that will create a charge,
create a charge using Stripe's...
asked 5 hours ago -
The reaction rate of CO and NO2 in the reaction
CO(g) + NO2(g) → CO2(g) +...
asked 5 hours ago