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Harmony Inc. uses a job-costing system with two direct cost categories (direct materials and direct manufacturing...
Question 5 6 pts Harmony Inc. uses a job-costing system with two direct cost categories (direct...
Question 5 6 pts Harmony Inc. uses a job-costing system with two direct cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Harmony allocates manufacturing overhead costs using direct labor costs. Harmony provides the following information: Overhead is allocated at $3/direct labor dollar. Question: How much overhead is allocated to jobs during 20X1? Budget for 20x1 Actual Results for 20X1 Direct Materials Cost $3,120,000 $1,900,000 Direct Ming Labor Cost $1,500,000 $1,450,000 Ming Overhead Cost $4,500,000...
Question 4 12 pts Match the following phrases and terms. Some terms will not be used....
Question 4 12 pts Match the following phrases and terms. Some terms will not be used. No term will be used more than once. a method for keeping track of large amounts of homogenous units during the manufacturing process. [Choose ] a cost that does not increase proportionally with increases in volume over the relevant range, [Choose a cost that is difficult to efficiently trace to a product Choose ] follows ruled developed by the Internal Revenue Code [Choose) the...
Destin Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor)...
Destin Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Destin allocates manufacturing overhead costs using direct manufacturing labor costs. Destin provides the following information (Click the icon to view the information) Read the requirements Requirement 1. Compute the actual and budgeted manufacturing overhead rates for 2020. (Enter your answer as a number (not as a percentage] rounded to two decimal places, X.XX.) Actual manufacturing overhead rate Budgeted...
Destin Products uses a job-costinf system with two direct cost categories (direct materials and direct manufacturing...
Destin Products uses a job-costinf system with two
direct cost categories (direct materials and direct manufacturing
labor) and one manufacturing overhead cost pool Destin allocates
manufacturing overhead costs using direct manufacturing labor
costs. Destin proves the following information in the photo
.
1. Compute the actual and budgeted manufacturing
overhead rates for 2017.
2. During March, the job cost record for Job 626 contained the
following information:
Direct materials
used
$40,000
Direct manufacturing
labor costs $35,000
Compute the...
Accounting 203 In class Handout Chapter 2 Name Destin products uses a job-order costing system with...
Accounting 203 In class Handout Chapter 2 Name Destin products uses a job-order costing system with two direct-cost categories (direct materials and direct labor) and one manufacturing overhead pool. Destin allocates manufacturing overhead costs using direct manufacturing labor costs. Destin provides the following information: Direct Materials Direct Labor Manufacturing Overhead Budget for Year 2018 $1,500,000 1,000,000 1,750,000 Actual Results for Year 2018 $1,450,000 980,000 1,862,000 REQUIRED: 1. Compute the predetermined (applied) overhead rate for 2018. 2. During March, the job...
CW 1 Actual costing, normal costing, manufacturing overhead. Destin Products uses a -job-costing system with two...
CW 1 Actual costing, normal costing, manufacturing overhead. Destin Products uses a -job-costing system with two direct-cost categories (direct materials and direct man- ufacturing labour) and one manufacturing overhead cost poll. Destin allocates man- ufacturing overhead costs using direct manufacturing labour costs. Destin provides the following information: Budget for Actuals for Year 2021 Year 2021 Direct manufacturing labour costs Direct manufacturing overhead costs Direct materials costs $1,000,000 $1,750,000 $1,500,000 $980,000 $1,862,000 $1,450,000 REQUIRED 1. Compute the actual and budgeted manufacturing...
Gatti Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials...
Gatti Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for 2017: Total manufacturing costs, $ 8,100,000$ times • Manufacturing overhead allocated, $3,600,000(allocated at a rate of 250% of direct manufacturing labor costs) times • Work-in-process inventory on January 2017,$400,000 times • Cost of finished goods manufactured, $8,040,000 1. Use information in the first two bullet points to calculate...
Gatti Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials...
Gatti Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for 2017: (Click the icon to view the data.) Requirements 1. Use information in the first two bullet points to calculate (a) direct manufacturing labor costs in 2017 and (b) cost of direct materials used in 2017. Calculate the ending work-in-process inventory on December 31, 2017 Requirement 1. Use...
Aniline simple job-costing system has two direct-cost categories (direct materials and direct labor) and a single...
Aniline simple job-costing system has two direct-cost categories (direct materials and direct labor) and a single indirect-cost pool. Aniline operates at capacity and allocates all indirect costs using printing machine-hours as the allocation base. Aniline is concerned about the accuracy of the costs assigned to standard and special jobs and therefore is planning to implement an activity-based costing system. Aniline ABC system would have the same direct-cost categories as its simple costing system. However, instead of a single indirect-cost pool...
Janes Corporation manufacturos custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories...
Janes Corporation manufacturos custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories direct materials and direct manufacturing laborand one indirect-cost pool, manufacturing overhead costs. It provides the following information for 2020: (Click the icon to view the information for 2020.) Read the requirement. Begin by calculating allocation base is a je the cost X Data Table indirect cost rate $ Now calculate the Budgeted manufacturing overhead costs Budgeted direct manufacturing labor-hours Actual manufacturing overhead costs Actual...
Question 5 6 pts Harmony Inc. uses a job-costing system with two direct cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Harmony allocates manufacturing overhead costs using direct labor costs. Harmony provides the following information: Overhead is allocated at $3/direct labor dollar. Question: How much overhead is allocated to jobs during 20X1? Budget for 20x1 Actual Results for 20X1 Direct Materials Cost $3,120,000 $1,900,000 Direct Ming Labor Cost $1,500,000 $1,450,000 Ming Overhead Cost $4,500,000...
Question 4 12 pts Match the following phrases and terms. Some terms will not be used. No term will be used more than once. a method for keeping track of large amounts of homogenous units during the manufacturing process. [Choose ] a cost that does not increase proportionally with increases in volume over the relevant range, [Choose a cost that is difficult to efficiently trace to a product Choose ] follows ruled developed by the Internal Revenue Code [Choose) the...
Destin Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Destin allocates manufacturing overhead costs using direct manufacturing labor costs. Destin provides the following information (Click the icon to view the information) Read the requirements Requirement 1. Compute the actual and budgeted manufacturing overhead rates for 2020. (Enter your answer as a number (not as a percentage] rounded to two decimal places, X.XX.) Actual manufacturing overhead rate Budgeted...
Destin Products uses a job-costinf system with two
direct cost categories (direct materials and direct manufacturing
labor) and one manufacturing overhead cost pool Destin allocates
manufacturing overhead costs using direct manufacturing labor
costs. Destin proves the following information in the photo
.
1. Compute the actual and budgeted manufacturing
overhead rates for 2017.
2. During March, the job cost record for Job 626 contained the
following information:
Direct materials
used
$40,000
Direct manufacturing
labor costs $35,000
Compute the...
Accounting 203 In class Handout Chapter 2 Name Destin products uses a job-order costing system with two direct-cost categories (direct materials and direct labor) and one manufacturing overhead pool. Destin allocates manufacturing overhead costs using direct manufacturing labor costs. Destin provides the following information: Direct Materials Direct Labor Manufacturing Overhead Budget for Year 2018 $1,500,000 1,000,000 1,750,000 Actual Results for Year 2018 $1,450,000 980,000 1,862,000 REQUIRED: 1. Compute the predetermined (applied) overhead rate for 2018. 2. During March, the job...
CW 1 Actual costing, normal costing, manufacturing overhead. Destin Products uses a -job-costing system with two direct-cost categories (direct materials and direct man- ufacturing labour) and one manufacturing overhead cost poll. Destin allocates man- ufacturing overhead costs using direct manufacturing labour costs. Destin provides the following information: Budget for Actuals for Year 2021 Year 2021 Direct manufacturing labour costs Direct manufacturing overhead costs Direct materials costs $1,000,000 $1,750,000 $1,500,000 $980,000 $1,862,000 $1,450,000 REQUIRED 1. Compute the actual and budgeted manufacturing...
Gatti Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for 2017: (Click the icon to view the data.) Requirements 1. Use information in the first two bullet points to calculate (a) direct manufacturing labor costs in 2017 and (b) cost of direct materials used in 2017. Calculate the ending work-in-process inventory on December 31, 2017 Requirement 1. Use...
Janes Corporation manufacturos custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories direct materials and direct manufacturing laborand one indirect-cost pool, manufacturing overhead costs. It provides the following information for 2020: (Click the icon to view the information for 2020.) Read the requirement. Begin by calculating allocation base is a je the cost X Data Table indirect cost rate $ Now calculate the Budgeted manufacturing overhead costs Budgeted direct manufacturing labor-hours Actual manufacturing overhead costs Actual...
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