Homework Answers
Answer ) 20%
A) Overhead allocated $6,000
B) Direct Labor Cost. $30,000
C) Factory overhead rate ($6,000/ $30,000) X 100 = 20%
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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 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%.
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?
Alles Company uses a job costing system that applies factory overhead on the basis of direct...
Alles Company uses a job costing system that applies factory overhead on the basis of direct labor dollars. No job was in proce February 1. During the month of February, the company worked on these three jobs: Direct labor ($8/hour) Direct materials overhead applied Job Number B10 044 G15 $34,000 ? $10,000 42,000 61,000 ? 2 20,750 6,000 During the month, the company completed and transferred Job B10 to the Finished Goods Inventory. Jobs C44 and G15 were not completed...
Pedriani Company uses a job order cost system and applies overhead on the basis of direct...
Pedriani Company uses a job order cost system and applies overhead on the basis of direct labor hours. On Jan01, 2017, Job No. 25 was the only job in process. Costs incurred prior to Jan01 on this job were as follows: direct materials $10,000; direct labor $6,000; and manufacturing overhead $9,000. Job No. 23 had been completed at a cost of $42,000 and was part of finished goods inventory. There was a $5,000 balance in the Raw Materials Inventory account. During the...
Ecola Company uses a job order costing system. Manufacturing overhead is applied on the basis of...
Ecola Company uses a job order costing system. Manufacturing
overhead is applied on the basis of direct labor cost. Total
manufacturing overhead was estimated to be $214,500 for the year;
direct labor was estimated to total $195,000.
(a) Calculate the predetermined overhead rate.
(b) Calculate cost of goods manufactured.
(c) Calculate the over- or underapplied overhead. (Input the
amount as positive value.)
(d) Calculate adjusted cost of goods sold.
Raw Materials Inventory Work in Process Inventory Finished Goods Inventory (1/1)...
Lott Company uses a job order cost system and applies overhead to production on the basis...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,200, direct labor $12,720, and manufacturing overhead $16,960. As of January 1, Job 49 had been completed at a cost of $95,400 and was part of finished goods inventory. There was a $15,900...
Lott Company uses a job order cost system and applies overhead to production on the basis...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,400, direct labor $14,040, and manufacturing overhead $18,720. As of January 1, Job 49 had been completed at a cost of $105,300 and was part of finished goods inventory. There was a $17,550...
Lott Company uses a job order cost system and applies overhead to production on the basis...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,200, direct labor $13,920, and manufacturing overhead $18,560. As of January 1, Job 49 had been completed at a cost of $104,400 and was part of finished goods inventory. There was a $17,400...
Coronado Company uses a job order cost system and applies overhead to production on the basis...
Coronado Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On Janu 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $24.000, direct labor $14,400, and manufacturing overhead $19,200. As of January 1, Job 49 had been completed at a cost of $108,000 and was part of finished goods inventory. There was a $18,000...
Lott Company uses a job order cost system and applies overhead to production on the basis...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,600, direct labor $12,960, and manufacturing overhead $17,280. As of January 1, Job 49 had been completed at a cost of $97,200 and was part of finished goods inventory. There was a $16,200...
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%.
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?
Alles Company uses a job costing system that applies factory overhead on the basis of direct labor dollars. No job was in proce February 1. During the month of February, the company worked on these three jobs: Direct labor ($8/hour) Direct materials overhead applied Job Number B10 044 G15 $34,000 ? $10,000 42,000 61,000 ? 2 20,750 6,000 During the month, the company completed and transferred Job B10 to the Finished Goods Inventory. Jobs C44 and G15 were not completed...
Ecola Company uses a job order costing system. Manufacturing
overhead is applied on the basis of direct labor cost. Total
manufacturing overhead was estimated to be $214,500 for the year;
direct labor was estimated to total $195,000.
(a) Calculate the predetermined overhead rate.
(b) Calculate cost of goods manufactured.
(c) Calculate the over- or underapplied overhead. (Input the
amount as positive value.)
(d) Calculate adjusted cost of goods sold.
Raw Materials Inventory Work in Process Inventory Finished Goods Inventory (1/1)...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,400, direct labor $14,040, and manufacturing overhead $18,720. As of January 1, Job 49 had been completed at a cost of $105,300 and was part of finished goods inventory. There was a $17,550...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,200, direct labor $13,920, and manufacturing overhead $18,560. As of January 1, Job 49 had been completed at a cost of $104,400 and was part of finished goods inventory. There was a $17,400...
Coronado Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On Janu 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $24.000, direct labor $14,400, and manufacturing overhead $19,200. As of January 1, Job 49 had been completed at a cost of $108,000 and was part of finished goods inventory. There was a $18,000...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,600, direct labor $12,960, and manufacturing overhead $17,280. As of January 1, Job 49 had been completed at a cost of $97,200 and was part of finished goods inventory. There was a $16,200...
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