Kenworth company job order costing system
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Kenworth Company uses a job-order costing system. Only three jobs—Job 105, Job 106, and Job 107—were...
Kenworth Company uses a job-order costing system. Only three
jobs—Job 105, Job 106, and Job 107—were worked on during November
and December. Job 105 was completed on December 10; the other two
jobs were still in production on December 31, the end of the
company’s operating year. Data from the job cost sheets of the
three jobs follow:
Job Cost Sheet
Job 105
Job 106
Job 107
November costs incurred:
Direct materials
$
20,500
$
13,300
$
0...
Kenworth Company uses a job-order costing system. Only three jobs—Job 105, Job 106, and Job 107—were...
Kenworth Company uses a job-order costing system. Only three
jobs—Job 105, Job 106, and Job 107—were worked on during November
and December. Job 105 was completed on December 10; the other two
jobs were still in production on December 31, the end of the
company’s operating year. Data from the job cost sheets of the
three jobs follow:
Job Cost Sheet
Job 105
Job 106
Job 107
November costs incurred:
Direct materials
$
19,900
$
12,700
$
0...
Week 5 Job Costing The Fine Manufacturing Company uses job order costing system. The company uses...
Week 5 Job Costing The Fine Manufacturing Company uses job order costing system. The company uses machine hours to apply overhead cost to jobs. At the beginning of 2019, the company estimated that 150,000 machine hours would be worked and $900,000 overhead cost would be incurred during 2012. The balances of raw materials, work in process (WIP), and finished goods at the beginning of 2012 were as follows: Raw materials: $40,000 Work in process: $30,000 Finished goods: $60,000 The Fine...
Job-Order Costing U-Design-It Furniture Company uses a job-order cost system. The company applies manufacturing overhead to...
Job-Order Costing U-Design-It Furniture Company uses a job-order cost system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor hours. The estimated MOH was $144,000 for the year and the estimated direct labor hours were 18,000 hours. In March, Job #175 was completed. Direct materials totaled $7,000. Total labor costs were $6,000 at $20 per hour. At the end of the year, it was determined that the company worked 17,000 direct labor hours...
Ravsten Company uses a job-order costing system. The company applies overhead cost to jobs on...
Ravsten Company uses a job-order costing system.
The company applies overhead cost to jobs on the basis of
machine-hours. For the current year, the company estimated that it
would work 35,000 machine-hours and incur $183,750 in manufacturing
overhead cost. The following transactions occurred during the
year:
a. Raw materials requisitioned for use in production, $309,000
(70% direct and 30% indirect).
b. The following costs were incurred for employee services:
Ravsten Company uses a job-order costing system. The company...
Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's...
Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: Raw materials Work in process Finished goods $16,500 $10,200 $30, 100 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 36.100 machine-hours and incur $155.230 in manufacturing overhead cost. The following transactions were recorded for the year: a. Raw materials were purchased on...
Cosi Company uses a job order costing system and allocates its overhead on the basis of...
Cosi Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Cosi expects to incur $800,000 of overhead during the next period, and expects to use 50.000 labor hours at a cost of $10.00 per hour. What is Cost Company's predetermined overhead rote?
Kayak Company uses a job order costing system and alocates overhead on the basis of direct...
Kayak Company uses a job order costing system and alocates overhead on the basis of direct labor costs. Knyok Comowy production costs for the year were direct obor $30.000 de metals 50.000 and factory overhead opted $6.000 The overhead applicabon rate was: OSCO 2009 O 50% O 00 07
Exercise 2-7 Job-Order Costing; Working Backwards [LO2-1, LO2-2, LO2-3] Hahn Company uses a job-order costing system....
Exercise 2-7 Job-Order Costing; Working Backwards [LO2-1, LO2-2, LO2-3] Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $15.50 per hour. During the year, the company started and completed only two jobs-Job Alpha, which used 64,400 direct labor-hours, and Job Omega. The job cost sheets for the these two jobs are shown below: Job Alpha Direct materials Direct labor Manufacturing overhead applied Total job...
Kayak Company uses a job order costing system and allocates its overhead on the basis of...
Kayak Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Kayak Company's production costs for the year were: direct labor, $34,000; direct materials, $54,000; and factory overhead applied $6,400. The overhead application rate was: Multiple Choice Ο 15.88%. Ο 531.25%. Ο 11.85%. Ο 5.31%.
Kenworth Company uses a job-order costing system. Only three
jobs—Job 105, Job 106, and Job 107—were worked on during November
and December. Job 105 was completed on December 10; the other two
jobs were still in production on December 31, the end of the
company’s operating year. Data from the job cost sheets of the
three jobs follow:
Job Cost Sheet
Job 105
Job 106
Job 107
November costs incurred:
Direct materials
$
20,500
$
13,300
$
0...
Kenworth Company uses a job-order costing system. Only three
jobs—Job 105, Job 106, and Job 107—were worked on during November
and December. Job 105 was completed on December 10; the other two
jobs were still in production on December 31, the end of the
company’s operating year. Data from the job cost sheets of the
three jobs follow:
Job Cost Sheet
Job 105
Job 106
Job 107
November costs incurred:
Direct materials
$
19,900
$
12,700
$
0...
Ravsten Company uses a job-order costing system.
The company applies overhead cost to jobs on the basis of
machine-hours. For the current year, the company estimated that it
would work 35,000 machine-hours and incur $183,750 in manufacturing
overhead cost. The following transactions occurred during the
year:
a. Raw materials requisitioned for use in production, $309,000
(70% direct and 30% indirect).
b. The following costs were incurred for employee services:
Ravsten Company uses a job-order costing system. The company...
Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: Raw materials Work in process Finished goods $16,500 $10,200 $30, 100 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 36.100 machine-hours and incur $155.230 in manufacturing overhead cost. The following transactions were recorded for the year: a. Raw materials were purchased on...
Cosi Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Cosi expects to incur $800,000 of overhead during the next period, and expects to use 50.000 labor hours at a cost of $10.00 per hour. What is Cost Company's predetermined overhead rote?
Kayak Company uses a job order costing system and alocates overhead on the basis of direct labor costs. Knyok Comowy production costs for the year were direct obor $30.000 de metals 50.000 and factory overhead opted $6.000 The overhead applicabon rate was: OSCO 2009 O 50% O 00 07
Exercise 2-7 Job-Order Costing; Working Backwards [LO2-1, LO2-2, LO2-3] Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $15.50 per hour. During the year, the company started and completed only two jobs-Job Alpha, which used 64,400 direct labor-hours, and Job Omega. The job cost sheets for the these two jobs are shown below: Job Alpha Direct materials Direct labor Manufacturing overhead applied Total job...
Kayak Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Kayak Company's production costs for the year were: direct labor, $34,000; direct materials, $54,000; and factory overhead applied $6,400. The overhead application rate was: Multiple Choice Ο 15.88%. Ο 531.25%. Ο 11.85%. Ο 5.31%.
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