Homework Answers
1.
Plantwide predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labor hours
Plantwide predetermined overhead rate = $350,000/125,000 + $3.80 = $6.6 per direct labor hour
| Job 550 | |
| Direct material | $201 |
| Direct labor | 240 |
| Manufacturing overhead applied (15*$6.6) | 99 |
| Total manufacturing cost | $540 |
Selling price = $540 + 200% = $1,620
2.
Plantwide predetermined overhead rate = Estimated manufacturing overhead / Estimated machine hours
Plantwide predetermined overhead rate = $350,000/62,500 + $7.60 = $13.2 per machine hour
| Job 550 | |
| Direct material | $201 |
| Direct labor | 240 |
| Manufacturing overhead applied (5*$13.2) | 66 |
| Total manufacturing cost | $507 |
Selling price = $507 + 200% = $1,521
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Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (L02-1, LO2-2, LO2-3) Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (L02-1, LO2-2, LO2-3) Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (L02-1, LO2-2, LO2-3) 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 1 40,000 70,000 $784, eee $ 2.00 $ 4.00 During the year, Job 550 was started and completed. The following information...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (L02-1, LO2-2, LO2-3) Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (L02-1, LO2-2, LO2-3) 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 130,000 65,000 $364,000 $ 4.00 $ 8.00 During the year, Job 550 was started and completed. The following information is available...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] 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 60,000 30,000 $180,000 $ 1.00 $ 2.00 During the year, Job 550 was started and completed. The following information is available...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: 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 120,000 60,000 $336,000 $ 3.60 $ 7.20 During the year, Job 550 was started and completed. The following information is available with...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] 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 80,000 40,000 $ 240,000 $ 1.80 $ 3.60 During the year, Job 550 was started and completed. The following information is...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3) Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3) 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 80,000 40,000 $240.000 $ 1.80 $ 3.60 During the year, Job 550 was started and completed. The following information is available...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] 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 140,000 Machine-hours required to support estimated production 70,000 Fixed manufacturing overhead cost $ 784,000 Variable manufacturing overhead cost per direct labor-hour $ 2.00 Variable manufacturing overhead cost per machine-hour $ 4.00 During the year, Job 550 was started and completed. The following information is...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] 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 150,000 Machine-hours required to support estimated production 75,000 Fixed manufacturing overhead cost $ 420,000 Variable manufacturing overhead cost per direct labor-hour $ 4.60 Variable manufacturing overhead cost per machine-hour $ 9.20 During the year, Job 550 was started and completed. The following information is...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3) Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3) 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 cont 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...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3] 0.66 Landen Corporation uses a job-order...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3] 0.66 Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: points eBook 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 Print References During the year, Job 550 was started and completed....
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (L02-1, LO2-2, LO2-3) 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 1 40,000 70,000 $784, eee $ 2.00 $ 4.00 During the year, Job 550 was started and completed. The following information...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (L02-1, LO2-2, LO2-3) 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 130,000 65,000 $364,000 $ 4.00 $ 8.00 During the year, Job 550 was started and completed. The following information is available...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] 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 60,000 30,000 $180,000 $ 1.00 $ 2.00 During the year, Job 550 was started and completed. The following information is available...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: 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 120,000 60,000 $336,000 $ 3.60 $ 7.20 During the year, Job 550 was started and completed. The following information is available with...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] 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 80,000 40,000 $ 240,000 $ 1.80 $ 3.60 During the year, Job 550 was started and completed. The following information is...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3) 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 80,000 40,000 $240.000 $ 1.80 $ 3.60 During the year, Job 550 was started and completed. The following information is available...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3) 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 cont 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...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing (LO2-1, LO2-2, LO2-3] 0.66 Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: points eBook 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 Print References During the year, Job 550 was started and completed....
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