Question

Use the following information for the next TWO questions. Direct materials Direct labor Machine hours Job #1 $6,250 $10,000 2Struggling with this one, please help me out!

0 0
Add a comment Improve this question Transcribed image text
Answer #1

31.

Since Job 3 was not complete at the end of April 1, hence total cost of Job 3 represents work in process inventory on April 30.

predetermined overhead rate = $20 per machine hour

Machine hour = 300

Overhead applied = predetermined overhead rate x Machine hour

= 20 x 300

= $6,000

Total cost Job 3 = Direct material + Direct labor + Overhead applied

= 8,000 + 16,000 + 6,000

= $30,000

Correct option is (b)

32.

Since Job 2 was completed during April but it was not sold, hence cost of Job 2 represents finished goods inventory on

April 30.

predetermined overhead rate = $20 per machine hour

Machine hour = 200

Overhead applied = predetermined overhead rate x Machine hour

= 20 x 200

= $4,000

Total cost Job 3 = Direct material + Direct labor + Overhead applied

= 4,500 + 13,250 + 4,000

= $21,750

Correct option is (a)

kindly give a positive rating if you are satisfied with the solution. Please ask if you have any query related to the question, Thanks.

Add a comment
Know the answer?
Add Answer to:
Struggling with this one, please help me out! Use the following information for the next TWO...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Please help me complete this! I have been struggling for a while, and mainly I need...

    Please help me complete this! I have been struggling for a while, and mainly I need the answer! Thank you for your help! 4) Gercak Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Departments predetermined overhead rate is based on machine-hours and the Assembly Departments predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the...

  • Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory...

    Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $376,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $21,000; factory rent, $38,000; factory utilities, $24,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of...

  • Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory...

    Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $24,000; factory rent, $34,000; factory utilities, $22,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 cash in April. Costs of...

  • The following information applies to the O’Donnell Company for March ­production. There are only two jobs...

    The following information applies to the O’Donnell Company for March ­production. There are only two jobs (X and Y) in production in March. Purchased direct materials and indirect materials with the following summary of receiving reports: Material A $ 16,000 Material B 12,000 Indirect materials 3,000 Total $ 31,000 Issued direct materials and indirect materials with this summary of requisitions: Job X Job Y Total Material A $ 8,000 $ 16,000 $ 24,000 Material B 3,000 8,000 11,000 Subtotal $...

  • Required information The following information applies to the questions displayed below) Marcelino Cos March 31 inventory...

    Required information The following information applies to the questions displayed below) Marcelino Cos March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $590,000. and factory payroll cost in April is $380,000. Overhead costs incurred in April are indirect materials, $58,000, indirect labor $24,000; factory rent, $40.000factory utilities. $20,000: and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of the...

  • Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory...

    Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $24,000; factory rent, $34,000; factory utilities, $22,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 cash in April. Costs of...

  • The following information applies to the O'Donnell Company for March production. There are only two jobs...

    The following information applies to the O'Donnell Company for March production. There are only two jobs (X and Y) in production in March a. Purchased direct materials and indirect materials with the following summary of receiving reports: Material A Material B Indirect materials Total $ 16,000 12,000 3,000 $ 31,000 b. Issued direct materials and indirect materials with this summary of requisitions: Material A Material B Subtotal Indirect materials Total Job x $ 8,000 3,000 $ 11,000 Job Y $...

  • Please help me complete this! I have been struggling for a while, and mainly I need...

    Please help me complete this! I have been struggling for a while, and mainly I need the answer! Thank you for your help! 5) Grib Corporation uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. The predetermined overhead rates for the year are 200% of direct labor cost for Department A and 50% of direct labor cost for Department B. Job 436, started and completed during the year, was charged with the following...

  • Required information (The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory...

    Required information (The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $374,000. Overhead costs incurred in April are: Indirect materials, $59.000; Indirect labor. $22,000; factory rent, $40,000; factory utilities, $24,000, and factory equipment depreciation, $52.000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675.000 cash in April. Costs of...

  • Please show the explanations of how you've obtained the answers. Required information [The following information applies...

    Please show the explanations of how you've obtained the answers. Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $83,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $57,000; indirect labor, $26,000; factory rent, $40,000; factory utilities, $20,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT