Homework Answers
| Solution: | |||
| Calculation of Applied overhead to Job A & Job B | |||
| Total Balance in Wok in Process: | $ 210,766 | ||
| Less: Direct Cost allocated to Job A | $ 37,238 | ||
| Less: Direct Cost allocated to Job B | $ 55,767 | ||
| Overhead Applied to Job A & B | $ 117,761 | ||
| Calculation of Under or Over Applied overhead to Job A & Job B | |||
| Actaul Overhead for the year | $ 148,066 | ||
| Less: Overhead applied to the Job & Job B | $ 117,761 | ||
| Underapplied Overhead | $ 30,305 | ||
| Answer = Option B= $ 30,305 Under Applied | |||
Add Answer to:
At December 31, 20x5, Marsha Co. had a balance of $210766 in work in process, represented...
At the beginning of the year 20x5, Marsha Co. had a balance of $216637 in work...
At the beginning of the year 20x5, Marsha Co. had a balance of $216637 in work in process, represented by the following two jobs: Job A Job B Direct materials $14252 $27993 Direct labour $21987 (1848 hours) $28403 (5139 hours) $36239 $56396 Marsha Co. applies overhead based on direct labour costs. How much overhead was applied to Job B? Select one: a. $159338 X O b. $69895 oc. $188234 O d. $94527
Please show all steps so I can fully understand how to solve. thank you Fred Co.,...
Please show all steps so I can fully understand how to
solve. thank you
Fred Co., a publicly accountable company, applies manufacturing overhead to jobs using a predetermined overhead rate that is based on direct labour costs. Data for the most recent year is as follows: Actual direct labour hours 8687 Direct labour rate $10/hour Actual manufacturing overhead costs $95770 At the end of the year, Fred Co, disposed of over under-applied overhead by crediting COGS for $8874. What was...
On January 1, Biden, Inc.'s Work-in - Process Inventory account had a balance of $30,300. During...
On January 1, Biden, Inc.'s Work-in - Process Inventory account had a balance of $30,300. During the year, $58,500 of direct materials was placed into production. Manufacturing wages incurred amounted to $84,000, of which $64,500 were for direct labor. Manufacturing overhead is allocated on the basis of 120% of direct labor cost. Actual manufacturing overhead was $90,500. Jobs costing $220,500 were completed during the year. What is the December 31 balance of Work – in - Process Inventory? O A....
A company uses a job order cost system and applies manufacturing overhead costs to jobs using...
A company uses a job order cost system and applies manufacturing overhead costs to jobs using a predetermined overhead rate based on direct labour-hours. The following data were extracted from the company's accounting records for the previous year: Manufacturing overhead: estimated: $50,000 actual: $55,000 Direct labour hours: estimated: #20,000 hrs actual: #24,000 hrs A job completed during the year incurred the following costs: Direct Materials $4,000 Direct labour $1,500 (at $5 per DLH) What was the under applied or over...
10) Under Pick Co.'s job-order costing system, manufacturing overhead is applied to work- in-process using a...
10) Under Pick Co.'s job-order costing system, manufacturing overhead is applied to work- in-process using a predetermined annual overhead rate. During January, Pick's transactions included the following: Direct materials issued to production $90,000 Indirect materials issued to production 8,000 Manufacturing overhead incurred $125,000 Manufacturing overhead applied 113,000 Direct labor cost 107,000 Pick had neither beginning nor ending work-in-process inventory. What was the cost of jobs completed in January? a) $302.000 b) $310,000 c) $322,000 d) $330,000
Compute the December 31, 2019 ending balance in Work-in-Process Inventory
The Kapanga Marrofacturing Company began operations on December 1, 2019, with two orders and received another order in early December Kapinga allocates overhead based on machine hours. As it started up its business, Kapanga estimated that it would incur the following costs and activity levels during the rest of the year be mouth of December): Manufacturing Overhead would be 530,000, direct Inbor how would be 2,000, machine bours would be 6.000, and direct labor dollars would be 540,000. At the...
DeShannon Company applies overhead to production based on direct labour hours. Data for the most current...
DeShannon Company applies overhead to production based on direct labour hours. Data for the most current year are as follows: Estimated Actual Direct labour hours 586192 587191 Manufacturing overhead $722246 $ 698125 The manufacturing overhead for the past year was overſunder-applied by note that a negative number means that overhead was under applied and a positive number means it was over-applied): Select one: O a. $ -25352 Ob. $ 25352 O c. $ 50704 O d. $ -50704
Need correct answers with workings to this question asap! I've given all the information below with...
Need correct answers with workings to this question
asap! I've given all the information below with a drop-down list,
and please follow whatever is given, this all the information I
have!
Question 8)
Question 8 Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculate its cost of goods manufactured. The company's policy is to price its job at cost plus 30% markup. On January 1, 2020, there was only one job in process,...
Question 8 Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system...
Question 8 Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculate its cost of goods manufactured. The company's policy is to price its job at cost plus 30% markup. On January 1, 2020, there was only one job in process, with the following costs: Job 200 $13,600 Direct materials Direct labour Applied overhead Total 18,000 27,000 $58,600 The following balances were taken from the company's general ledger as of January 1, 2020: Direct...
Phillis Ltd. uses a job order costing system that applies manufacturing overhead to work in process...
Phillis Ltd. uses a job order costing system that applies manufacturing overhead to work in process using a predetermined annual overhead rate. During April 20x6, the company’s transactions included the following: Direct labour costs $153336 Direct materials issued to production 64194 Indirect materials issued to production 12713 Actual manufacturing overhead 144138 Applied manufacturing overhead 181786 The company’s beginning and ending work in process inventory balances for April 20x6 were $19418 and $31228, respectively. What was the cost of goods manufactured...
At the beginning of the year 20x5, Marsha Co. had a balance of $216637 in work in process, represented by the following two jobs: Job A Job B Direct materials $14252 $27993 Direct labour $21987 (1848 hours) $28403 (5139 hours) $36239 $56396 Marsha Co. applies overhead based on direct labour costs. How much overhead was applied to Job B? Select one: a. $159338 X O b. $69895 oc. $188234 O d. $94527
Please show all steps so I can fully understand how to
solve. thank you
Fred Co., a publicly accountable company, applies manufacturing overhead to jobs using a predetermined overhead rate that is based on direct labour costs. Data for the most recent year is as follows: Actual direct labour hours 8687 Direct labour rate $10/hour Actual manufacturing overhead costs $95770 At the end of the year, Fred Co, disposed of over under-applied overhead by crediting COGS for $8874. What was...
On January 1, Biden, Inc.'s Work-in - Process Inventory account had a balance of $30,300. During the year, $58,500 of direct materials was placed into production. Manufacturing wages incurred amounted to $84,000, of which $64,500 were for direct labor. Manufacturing overhead is allocated on the basis of 120% of direct labor cost. Actual manufacturing overhead was $90,500. Jobs costing $220,500 were completed during the year. What is the December 31 balance of Work – in - Process Inventory? O A....
10) Under Pick Co.'s job-order costing system, manufacturing overhead is applied to work- in-process using a predetermined annual overhead rate. During January, Pick's transactions included the following: Direct materials issued to production $90,000 Indirect materials issued to production 8,000 Manufacturing overhead incurred $125,000 Manufacturing overhead applied 113,000 Direct labor cost 107,000 Pick had neither beginning nor ending work-in-process inventory. What was the cost of jobs completed in January? a) $302.000 b) $310,000 c) $322,000 d) $330,000
DeShannon Company applies overhead to production based on direct labour hours. Data for the most current year are as follows: Estimated Actual Direct labour hours 586192 587191 Manufacturing overhead $722246 $ 698125 The manufacturing overhead for the past year was overſunder-applied by note that a negative number means that overhead was under applied and a positive number means it was over-applied): Select one: O a. $ -25352 Ob. $ 25352 O c. $ 50704 O d. $ -50704
Need correct answers with workings to this question
asap! I've given all the information below with a drop-down list,
and please follow whatever is given, this all the information I
have!
Question 8)
Question 8 Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculate its cost of goods manufactured. The company's policy is to price its job at cost plus 30% markup. On January 1, 2020, there was only one job in process,...
Question 8 Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculate its cost of goods manufactured. The company's policy is to price its job at cost plus 30% markup. On January 1, 2020, there was only one job in process, with the following costs: Job 200 $13,600 Direct materials Direct labour Applied overhead Total 18,000 27,000 $58,600 The following balances were taken from the company's general ledger as of January 1, 2020: Direct...
Most questions answered within 3 hours.
-
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 2 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 2 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 2 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 2 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 2 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 2 hours ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 3 hours ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 3 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 3 hours ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 3 hours ago -
International ethics focus on:
1) exploitation of labor
2)corruption
3) environmental impact
4) none of the...
asked 3 hours ago -
Costing Models You work for XYZ trucking and your boss has asked
you to figure out...
asked 3 hours ago