1) | Direct Labor Hours | ||||
a) | Predetermined OH rate = | [(Fixed Manu. OH cost / Direct Labor Hours) + Variable Manu. OH cost per direct labor hour] | |||
= | [($ 784000 / 140000) + $ 2] | ||||
= | $ 7.60 | ||||
b) | Job 550 | ||||
Direct Materials | $ 175.00 | ||||
Direct Labor Cost | $ 225.00 | ||||
Manu. OH | $ 114.00 | ($ 7.6 x 15) | |||
Total Manu. Cost | $ 514.00 | ||||
c) | Selling Price = | $ 514 x 300% | |||
= | $ 1,542.00 |
2) | Machine Hours | ||||
a) | Predetermined OH rate = | [(Fixed Manu. OH cost / Machine Hours) + Variable Manu. OH cost per Machine hour] | |||
= | [($ 784000 / 70000) + $ 4] | ||||
= | $ 15.20 | ||||
b) | Job 550 | ||||
Direct Materials | $ 175.00 | ||||
Direct Labor Cost | $ 225.00 | ||||
Manu. OH | $ 76.00 | ($ 15.20 x 5) | |||
Total Manu. Cost | $ 476.00 | ||||
c) | Selling Price = | $ 476 x 300% | |||
= | $ 1,428.00 |
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 (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 (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 125,000 62,500 $350,000 $ 3.80 $ 7.60 During the year, Job 550 was started and completed. The following information is available...
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 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 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 (Static) 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 140,000 70,000 $ 784,000 $ 2.00 $ 4.00 During the year, Job 550 was started and completed. The following information...
Problem 2-16 (Static) 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 140,000 70,000 $784,000 $ 2.00 $ 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] 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....