When using normal costing, the total production cost of a job is composed of: direct material...
When using normal costing, the total production cost of a job is composed of:
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direct material and direct labor. |
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direct material, direct labor, manufacturing overhead, and outlays for selling costs. |
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direct material, direct labor, manufacturing overhead, and outlays for both selling and administrative costs. |
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direct material, direct labor, and applied manufacturing overhead. |
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direct material, direct labor, and actual manufacturing overhead. |
Homework Answers
When using normal costing, the total production cost of a job is composed of direct material, direct labour and applied manufacturing overhead
So answer is d) direct material, direct labor, and applied manufacturing overhead.
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When using normal costing, the total production cost of a job is
composed of:
direct material...
Which of the following would usually be found on a job cost sheet under a normal...
Which of the following would usually be found on a job cost sheet under a normal costing system? Multiple Choice budgeted direct material costs, budgeted direct labor costs and budgeted factory overhead costs O actual direct material costs, actual direct labor costs and applied factory overhead costs budgeted direct material costs, budgeted direct labor costs and applied factory overhead costs O actual direct material costs, actual direct labor costs and actual factory overhead costs Multiple Choice 0 labor cost of...
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...
Phone chargers Custom jewelry 2pts Question 21 A job cost sheet includes: Direct materials, direct labor,...
Phone chargers Custom jewelry 2pts Question 21 A job cost sheet includes: Direct materials, direct labor, and operating costs Direct materials, estimated overhead, and administrative costs Direct labor, actual overhead, and selling costs Direct material, direct labor, and applied overhead Direct materials, direct labor, and selling costs Question 22 Customization Separate manufacturing from other products Question 20 A company that makes which of the following types of products would best be suited forajo costing system? Fruit juice Swimming suits Snack...
Finlon Upholstery Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on...
Finlon Upholstery Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on December 31, 2001, consisted of one job (no. 2077), which was carried on the year-end balance sheet at $156,800. There was no finished-goods inventory on this date. Finlon applies manufacturing overhead to production on the basis of direct-labor cost. (The budgeted direct-labor cost is the company's practical capacity, in terms of direct-labor hours multiplied by the budgeted direct-labor rate.) Budgeted totals for 2002 for...
Janes Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories...
Janes Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories direct materials and direct manufacturing labor-and 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 the budgeted indirect cost rate. Select the formula and then calculate the rate. (Assume the cost allocation base is direct labor hours.) Budgeted manufacturing overhead costs Budgeted labor hours Budgeted...
Harmony Inc. uses a job-costing system with two direct cost categories (direct materials and direct manufacturing...
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 material costs. Harmony provides the following information: Overhead is allocated at $3/direct material dollar Question: How much overhead is allocated to jobs during 20X1? Budget for 20x1 Actual Results for 20X1 Direct Materials Cost $1,500,000 $1,900,000 Direct Ming Labor Cost $1,500,000 $1,450,000 Ming Overhead Cost $4,500,000 $3,355,000 Direct Ming Labor...
A normal job-order costing system is a system that determines unit cost by using: estimated costs...
A normal job-order costing system is a system that determines unit cost by using: estimated costs for direct materials, direct labor, and overhead. O actual costs for direct materials and direct labor and estimated costs for overhead. O actual costs for direct materials and estimated costs for direct labor and overhead. actual costs for direct materials and overhead and estimated costs for direct labor.
When a job is finished, the company makes an entry to transfer its total cost to...
When a job is finished, the company makes an entry to transfer its total cost to finished goods inventory. This response is incorrect because it assumes total costs represents the sum of the actual manufacturing overhead costs, expected overhead costs, and expected materials costs. The correct total costs = direct materials ($750,000) + direct labor ($300,000) + overhead applied [($600,000/ $400,000) or 1.50 x $300,000] = $1,500,000 (“Assigning Costs to Finished Goods”). In the current year, Mitchell Manufacturing expected Job...
FORUM DESCRIPTION Product costing involves charging the cost of Direct Materials, Direct Labor and Overhead to...
FORUM DESCRIPTION Product costing involves charging the cost of Direct Materials, Direct Labor and Overhead to products. Any product that you have ever seen or service that you have ever paid for, must have incorporated at least one these three elements of cost le. DM, DL, and OH. In both Job Order costing and Process Costing, the cost of Direct Materials and the cost of Direct Labor are both easily traceable to the products. Cost of Direct Materials are traced...
Which of the following would usually be found on a job cost sheet under a normal costing system? Multiple Choice budgeted direct material costs, budgeted direct labor costs and budgeted factory overhead costs O actual direct material costs, actual direct labor costs and applied factory overhead costs budgeted direct material costs, budgeted direct labor costs and applied factory overhead costs O actual direct material costs, actual direct labor costs and actual factory overhead costs Multiple Choice 0 labor cost of...
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...
Phone chargers Custom jewelry 2pts Question 21 A job cost sheet includes: Direct materials, direct labor, and operating costs Direct materials, estimated overhead, and administrative costs Direct labor, actual overhead, and selling costs Direct material, direct labor, and applied overhead Direct materials, direct labor, and selling costs Question 22 Customization Separate manufacturing from other products Question 20 A company that makes which of the following types of products would best be suited forajo costing system? Fruit juice Swimming suits Snack...
Janes Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories direct materials and direct manufacturing labor-and 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 the budgeted indirect cost rate. Select the formula and then calculate the rate. (Assume the cost allocation base is direct labor hours.) Budgeted manufacturing overhead costs Budgeted labor hours Budgeted...
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 material costs. Harmony provides the following information: Overhead is allocated at $3/direct material dollar Question: How much overhead is allocated to jobs during 20X1? Budget for 20x1 Actual Results for 20X1 Direct Materials Cost $1,500,000 $1,900,000 Direct Ming Labor Cost $1,500,000 $1,450,000 Ming Overhead Cost $4,500,000 $3,355,000 Direct Ming Labor...
A normal job-order costing system is a system that determines unit cost by using: estimated costs for direct materials, direct labor, and overhead. O actual costs for direct materials and direct labor and estimated costs for overhead. O actual costs for direct materials and estimated costs for direct labor and overhead. actual costs for direct materials and overhead and estimated costs for direct labor.
FORUM DESCRIPTION Product costing involves charging the cost of Direct Materials, Direct Labor and Overhead to products. Any product that you have ever seen or service that you have ever paid for, must have incorporated at least one these three elements of cost le. DM, DL, and OH. In both Job Order costing and Process Costing, the cost of Direct Materials and the cost of Direct Labor are both easily traceable to the products. Cost of Direct Materials are traced...
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