The following information pertains to Job 712 that Nantou Manufacturing Company completed during January 2018. Materials...
The following information pertains to Job 712 that Nantou Manufacturing Company completed during January 2018. Materials and labor costs for the job were $24,500 and $19,000, respectively. Applied overhead costs were $16,000. Nantou completed and delivered the job to its customer and earned an $18,000 gross profit. Determine the contract price for the job.
Homework Answers
Add Answer to:
The following information pertains to Job 712 that Nantou
Manufacturing Company completed during January 2018. Materials...
The Modern Company builds kitchen cabinets. On January 1, 2019, one job (D42) was in progress....
The Modern Company builds kitchen cabinets. On January 1, 2019, one job (D42) was in progress. The order is from Dallas Apartment Corporation and was begun on December 21, 2018. Costs accumulated to date on that job are materials, $1,874; labor, $1,200; and overhead, $480. During January, the following costs were incurred in production work on Job D42 and on Jobs J01 and J02, which were started on January 5, 2019: Materials Labor Overhead Quantity Job D42 $ 540 $...
BBS Manufacturing Company manufactures one product that has several model styles. All materials are added at...
BBS Manufacturing Company manufactures one product that has several model styles. All materials are added at the beginning of production. Manufacturing overhead is applied as a percentage of direct labor cost. On January 1, 2019, one job, DE31, was in process, with the following accumulated costs: Materials $ 11,000 Direct labor 4,000 Manufacturing overhead 1,000 Total $ 16,000 The beginning finished goods inventory for BBS Manufacturing Company on January 1, 2019, was $30,000. The following additional data is given for...
Garcia Manufacturing uses a job order cost system and applies overhead to production on the basis of direct labor costs
Garcia Manufacturing uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2008, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,000, direct labor $12,000, and manufacturing overhead $16,000. As of January 1, Job No. 49 had been completed at a cost of $90,000 and was part of finished goods inventory. There was...
TEST 1 Problem The Black Company uses a job order cost system. The following data pertains...
TEST 1 Problem The Black Company uses a job order cost system. The following data pertains to the direct material and direct labor costs charged to production during the month of January: Job number 663 664 665 666 Direct Material $3,200 7,800 9,000 3.500 $23.500 Direct Labor $4,000 9,600 12,000 5,400 $31.000 Job 663 was in process at the beginning of January at which time it had incurred $2.500 of direct material costs and $3,000 of direct labor costs. Manufacturing...
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied...
The following information pertains to Flaxman Manufacturing
Company for March 2018. Assume actual overhead equaled applied
overhead.
March 1
Inventory balances
Raw materials $ 124,600
Work in process 119,200
Finished goods 76,300
March 31
Inventory balances
Raw materials $ 85,400
Work in process 146,100
Finished goods 80,800
During March
Costs of raw materials purchased $ 119,100
Costs of direct labor 101,800
Costs of manufacturing overhead 62,900
Sales revenues 355,000
Required
Prepare a schedule of cost of goods manufactured and
sold....
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled...
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials Work in process Finished goods $123,600 119,900 76,300 00 5529 Мarch 31 Inventory balances Raw materials $86,200 145,700 80,400 Work in process Finished goods During March Costs of raw materials purchased Costs of direct labor $118,500 101,800 62,500 360,000 Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold....
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied...
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. 24.800 120,000 77,400 March 1 Inventory balances Raw materials Work in process Finished goods March 31 Inventory balances Raw materials Work in process Pinished goods During March Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues $ 85,800 145, 300 81,400 $120,000 101,100 61,300 359,000 Required a. Prepare a schedule of cost of goods manufactured and sold.
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage...
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2018 follow: Raw Materials Inventory $ 15,700 Work in Process Inventory 6,600 Finished Goods Inventory 20,500 The following transactions occurred during January: (a) Purchased materials on account for $26,600. (b) Issued materials to production totaling $20,400, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect...
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied...
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. $123,900 119,500 77,000 March 1 Inventory balances Raw materials Work in process Finished goods March 31 Inventory balances Raw materials Work in process Finished goods During March Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues $ 85,900 146,900 80,200 $ 118,300 100,400 61,700 352,000 Required a. Prepare a schedule of cost of goods manufactured and sold....
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
TEST 1 Problem The Black Company uses a job order cost system. The following data pertains to the direct material and direct labor costs charged to production during the month of January: Job number 663 664 665 666 Direct Material $3,200 7,800 9,000 3.500 $23.500 Direct Labor $4,000 9,600 12,000 5,400 $31.000 Job 663 was in process at the beginning of January at which time it had incurred $2.500 of direct material costs and $3,000 of direct labor costs. Manufacturing...
The following information pertains to Flaxman Manufacturing
Company for March 2018. Assume actual overhead equaled applied
overhead.
March 1
Inventory balances
Raw materials $ 124,600
Work in process 119,200
Finished goods 76,300
March 31
Inventory balances
Raw materials $ 85,400
Work in process 146,100
Finished goods 80,800
During March
Costs of raw materials purchased $ 119,100
Costs of direct labor 101,800
Costs of manufacturing overhead 62,900
Sales revenues 355,000
Required
Prepare a schedule of cost of goods manufactured and
sold....
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials Work in process Finished goods $123,600 119,900 76,300 00 5529 Мarch 31 Inventory balances Raw materials $86,200 145,700 80,400 Work in process Finished goods During March Costs of raw materials purchased Costs of direct labor $118,500 101,800 62,500 360,000 Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold....
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. 24.800 120,000 77,400 March 1 Inventory balances Raw materials Work in process Finished goods March 31 Inventory balances Raw materials Work in process Pinished goods During March Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues $ 85,800 145, 300 81,400 $120,000 101,100 61,300 359,000 Required a. Prepare a schedule of cost of goods manufactured and sold.
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. $123,900 119,500 77,000 March 1 Inventory balances Raw materials Work in process Finished goods March 31 Inventory balances Raw materials Work in process Finished goods During March Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues $ 85,900 146,900 80,200 $ 118,300 100,400 61,700 352,000 Required a. Prepare a schedule of cost of goods manufactured and sold....
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Most questions answered within 3 hours.
-
Problem 16-51 Sales
Activity Variance (LO 16-3)Odessa, Inc., reports the following
information concerning operations for the...
asked 10 minutes ago -
Pictured on the right are thee point charges Q1 = 18.4 μC, Q2 =
-30.6 μC,...
asked 12 minutes ago -
A graduate student is conducting research in psychology and
needs to obtain the IQ scores of...
asked 49 minutes ago -
R2.84: There are 2 defective products in a production lot of 10.
An inspector randomly selected...
asked 2 hours ago -
Consider the following equilibrium system: COCl2(g) CO(g) +
Cl2(g) A 10.00 L evacuated flask is filled...
asked 2 hours ago -
1) What are the two distinct steps that one needs to perform
when developing a data...
asked 2 hours ago -
2) Write a C++ program that uses a class called “Degree” to
obtain the trigonometric
values...
asked 3 hours ago -
1. In eukaryotic cells the genomes of
&
asked 3 hours ago -
The standard enthalpy of propanol (C3H7OH) is -303.0 kJ/mol.
Compute both of the
gross and net...
asked 3 hours ago -
Why PWM using H-bridge for control motor speed is more power
effiecient than the linear amplifier...
asked 4 hours ago -
In 1999, Carly Fiorina famously said,"I hope that we are at a
point that everyone is...
asked 4 hours ago -
Individuals in a species of moth vary in wing color from white to
black, but all...
asked 4 hours ago