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Harris Fabrics computes its plantwide predetermined overhead rate annually based on direct labor-hours. At the beginning of the year, it estimated 34,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $560,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $726,935 and its actual total direct labor was 34,500 hours.
Required:
Compute the company’s plantwide predetermined overhead rate.
Note: Round your answer to 2 decimal places.
$19.47
Luthan Company uses a plantwide predetermined overhead rate of $22.60 per direct labor-hour. This predetermined rate is based on a cost formula that estimated $271,200 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor-hours.
The company incurred actual total manufacturing overhead cost of $267,000 and 12,700 total direct labor-hours.
Required:
Calculate the manufacturing overhead cost applied to all jobs.
$287,020
Mickey Company’s plantwide predetermined overhead rate is $19.00 per direct labor-hour and its direct labor wage rate is $15.00 per hour. The following information pertains to Job A-500:
Direct materials $ 260
Direct labor $ 300
Required:
What is the total manufacturing cost assigned to Job A-500?
If Job A-500 consists of 40 units, what is its unit product cost?
Note: Round your answer to 2 decimal places.
1.Total Manufacturing Cost $940
Unit product cost $23.50
Tech Solutions is a consulting firm that uses job-order costing. Its direct materials consist of hardware and software it purchases and installs on behalf of its clients. The firm’s direct labor includes salaries of consultants who work at the client’s job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies consumed serving clients.
Tech Solutions computes its predetermined overhead rate annually based on direct labor-hours. At the beginning of the year, it estimated 95,000 direct labor-hours would be required for the period’s estimated level of client service. The company also estimated $1,235,000 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm’s actual overhead cost for the year was $1,247,400 and its actual total direct labor was 100,050 hours.
Required:
Compute the predetermined overhead rate.
During the year, Tech Solutions started and completed the Xavier Company engagement. The following information was available for this job:
Direct materials $ 51,600
Direct labor cost $ 30,900
Direct labor-hours worked 380
Compute the total job cost for Xavier Company.
$13.50 per DLH 5,130 Overhead applied Total manufacturing cost $87,630
Hahn Company uses job-order costing. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers 16.00perhour.Duringtheyear,thecompanystartedandcompletedonlytwojobs—JobAlpha,whichused69,400directlabor−hours,andJobOmega.Thejobcostsheetsforthesetwojobsareshownbelow:</p><tablestyle="min−width:50px;"><colgroup><colstyle="min−width:25px;"><colstyle="min−width:25px;"></colgroup><tbody><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px0px0px15px;font:inherit;vertical−align:middle;text−align:left;"><p>JobAlpha</p></th><tdcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;vertical−align:middle;text−align:right;"><p> </p></td></tr><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px0px0px15px;font:inherit;vertical−align:middle;text−align:left;width:350px;"><p>Directmaterials</p></th><tdcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;vertical−align:middle;width:100px;text−align:center;"><p><spanstyle="font−family:inherit;line−height:inherit;font−size:inherit;">?questionmark</span></p></td></tr><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px0px0px15px;font:inherit;vertical−align:middle;text−align:left;"><p>Directlabor</p></th><tdcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;vertical−align:middle;text−align:center;"><p><spanstyle="font−family:inherit;line−height:inherit;font−size:inherit;">?questionmark</span></p></td></tr><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px0px0px15px;font:inherit;vertical−align:middle;text−align:left;"><p>Manufacturingoverheadapplied</p></th><tdcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;vertical−align:middle;text−align:center;border−bottom:1pxsolidblack;"><p><spanstyle="font−family:inherit;line−height:inherit;font−size:inherit;">?questionmark</span></p></td></tr><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px0px0px15px;font:inherit;vertical−align:middle;text−align:left;"><p>Totaljobcost</p></th><tdcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;vertical−align:middle;border−bottom:doubleblack;"><p> 1,904,000
Job Omega |
|
|---|---|
Direct materials | $ 321,800 |
Direct labor | 460,800 |
Manufacturing overhead applied | 259,200 |
Total job cost | $ 1,041,800 |
Calculate the plantwide predetermined overhead rate.
Note: Round your answer to 2 decimal places
$9.00 per DLH
DM - $169,000
DL - 1,110,400
MOa - 624,600
Totoal job cost - $1,904,000
Newhard Company applies overhead cost to jobs on the basis of 116% of direct labor cost. Job 313 includes 1,600 units and its job cost sheet contains $25,536 in direct materials and $10,400 in direct labor.
Required:
What is the total manufacturing cost applied to Job 313?
What is this job's unit product cost?
Total manufacturing cost - $48,000
Unit product cost - $30
Taveras Corporation currently operates at 50% of its available manufacturing capacity. It uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:
Machine-hours required to support estimated production | 255,000 |
|---|---|
Fixed manufacturing overhead cost | $ 5,100,000 |
Variable manufacturing overhead cost per machine-hour | $ 2.00 |
Required:
Compute the plantwide predetermined overhead rate.
During the year, Job P90 was started, completed, and sold to the customer for 4,300.Thefollowinginformationpertainstothisjob:</p><tablestyle="min−width:50px;"><colgroup><colstyle="min−width:25px;"><colstyle="min−width:25px;"></colgroup><tbody><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px0px0px15px;font:inherit;text−align:left;vertical−align:middle;width:230px;"><p>Directmaterials</p></th><tdcolspan="1"rowspan="1"style="margin:0px;padding:0px10px0px0px;font:inherit;text−align:right;vertical−align:middle;width:100px;"><p> 1,978
Direct labor cost
$ 1,419
Machine-hours used
90
Compute the total manufacturing cost assigned to Job P90.
$22 per MH
DM - $1,978
DL - 1,419
Overhead applied - 1,980
Total manufacturing cost - $5,377
Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $20.00 per direct labor-hour and $16.00 per direct labor-hour, respectively. The company’s direct labor wage rate is 22.00 per hour. The following information pertains to Job N-60:
| Assembly | Testing & Packaging |
|---|---|---|
Direct materials | 380 | $ 41 |
Direct labor | $ 187 | $ 99 |
Required:
What is the total manufacturing cost assigned to Job N-60?
Note: Do not round intermediate calculations.
If Job N-60 consists of 10 units, what is its unit product cost?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Total manufacturing cost - $949
Unit product cost $94.90 per unit
Braverman Company has two manufacturing departments—Finishing and Fabrication. The predetermined overhead rates in Finishing and Fabrication are $15.00 per direct labor-hour and 120% of direct materials cost, respectively. The company’s direct labor wage rate is $22.00 per hour. The following information pertains to Job 700:
| Finishing | Fabrication |
|---|---|---|
Direct materials | $ 440 | $ 65 |
Direct labor | $ 242 | $ 154 |
Required:
What is the total manufacturing cost assigned to Job 700?
If Job 700 consists of 30 units, what is its unit product cost?
Note: Round your answer to 2 decimal places.
Total manufacturing cost - $1,144
Unit product cost - $38.13
Draco Company engages in the following cash payments:
Purchase equipment | $ 3,800 |
|---|---|
Pay rent | 350 |
Repay loan to the bank | 5,700 |
Pay workers’ salaries | 1,500 |
What is the total amount of cash paid for operating activities?
$1,850
Consider the information below that relates to the end of the current period:
Accounts Receivable | $ 14,700 |
|---|---|
Rent Expense | 7,500 |
Insurance Expense | 2,100 |
Common Stock | 24,000 |
Service Revenue | 28,300 |
Supplies | 4,300 |
Equipment | 21,600 |
Income Tax Expense | 4,200 |
What is the amount of net income in the current period?
$14,500
Emmitt had the following final balances after the first year of operations: assets, $35,300; stockholders' equity, $14,200; dividends, $2,000; and net income, $9,800. What is the amount of Emmitt's liabilities?
$21,100
On January 1, Barton Brothers, Incorporated started the year with a $692,000 balance in Retained Earnings and a $598,000 balance in Common Stock. During the year, the company reported net income of $109,000, paid a dividend of $14,600, and issued more common stock for $24,500. What is total stockholders' equity at the end of the year?
$1,408,900
The following information is provided for Sacks Company.
Cash | $ 13,400 |
|---|---|
Supplies | 5,900 |
Prepaid rent | 3,400 |
Salaries expense | 5,900 |
Equipment | 66,400 |
Service revenue | 35,600 |
Miscellaneous expenses | 21,400 |
Dividends | 4,400 |
Accounts payable | 6,400 |
Common stock | 69,400 |
Retained earnings | 9,400 |
What is the amount of total assets?
$89,100
Ferguson, Incorporated, reports the following account balances on December 31, 2024: accounts payable, $32,000; accounts receivable, $17,000; bonds payable, $30,000; cash, $28,000; common stock, $12,000; deferred revenue, $14,000; interest payable, $3,000; inventory, $22,000; equipment (net), $63,000; land, $51,000; notes payable (due in 3 years), $19,000; operating lease assets, $9,000. What is the amount of total long-term assets?
$123,000
The following information is provided for a company.
Accounts payable | $ 16,500 |
|---|---|
Buildings | 81,500 |
Cash | 12,000 |
Accounts receivable | 11,000 |
Salaries payable | 6,000 |
Retained earnings | 53,500 |
Supplies | 41,500 |
Notes payable (due in 18 months) | 36,500 |
Interest payable | 4,500 |
Common stock | 36,500 |
What is the amount of current assets, assuming the accounts above reflect normal activity?
$64,500
The following information is provided for Sacks Company.
Cash | $ 13,500 |
|---|---|
Supplies | 6,000 |
Prepaid rent | 3,500 |
Salaries expense | 6,000 |
Equipment | 66,500 |
Service revenue | 36,000 |
Miscellaneous expenses | 21,500 |
Dividends | 4,500 |
Accounts payable | 6,500 |
Common stock | 69,500 |
Retained earnings | 9,500 |
What is the amount of total liabilities?
$6,500
Ferguson, Incorporated, reports the following account balances on December 31, 2024: accounts payable, $32,000; accounts receivable, $17,000; bonds payable, $30,000; cash, $28,000; common stock, $12,000; deferred revenue, $14,000; interest payable, $3,000; inventory, $22,000; equipment (net), $63,000; land, $51,000; notes payable (due in 3 years), $19,000; operating lease assets, $9,000. What is the amount of total current liabilities?
$49,000
The following information is provided for a company. All liabilities are due to be satisfied within one year unless stated otherwise.
Retained earnings | $ 53,100 |
|---|---|
Supplies | 38,100 |
Equipment | 73,100 |
Accounts receivable | 9,700 |
Deferred revenue | 7,100 |
Accounts payable | 19,400 |
Common stock | 26,100 |
Notes payable (due in 18 months) | 36,100 |
Interest payable | 8,100 |
Cash | 23,500 |
What is the amount of current liabilities?
$34,600
The following information is provided for Sacks Company before closing entries.
Cash | $ 14,000 |
|---|---|
Supplies | 6,500 |
Prepaid rent | 4,000 |
Salaries expense | 6,500 |
Equipment | 67,000 |
Service revenue | 38,000 |
Miscellaneous expenses | 22,000 |
Dividends | 5,000 |
Accounts payable | 7,000 |
Common stock | 70,000 |
Retained earnings | 14,500 |
What is the amount of total shareholders' equity?
$84,500
Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year:
Cost of clay used in production | $ 75,000 |
|---|---|
Wages paid to the workers who paint the figurines | $ 86,000 |
Wages paid to the sales manager's secretary | $ 38,000 |
Cost of junk mail advertising | $ 55,000 |
What is the total of the direct costs above?
$161,000
A partial listing of costs incurred during March at Febbo Corporation appears below:
Factory supplies | $ 9,000 |
|---|---|
Administrative wages and salaries | $ 85,000 |
Direct materials | $ 126,000 |
Sales staff salaries | $ 30,000 |
Factory depreciation | $ 33,000 |
Corporate headquarters building rent | $ 43,000 |
Indirect labor | $ 26,000 |
Marketing | $ 65,000 |
Direct labor | $ 99,000 |
The total of the manufacturing overhead costs listed above for March is
$68,000
A partial listing of costs incurred at Archut Corporation during September appears below:
Direct materials | $ 113,000 |
|---|---|
Utilities, factory | $ 5,000 |
Administrative salaries | $ 81,000 |
Indirect labor | $ 25,000 |
Sales commissions | $ 48,000 |
Depreciation of production equipment | $ 20,000 |
Depreciation of administrative equipment | $ 30,000 |
Direct labor | $ 129,000 |
Advertising | $ 135,000 |
The total of the period costs listed above for September is:
$294,000
The following costs were incurred in May:
Direct materials | $ 45,500 |
|---|---|
Direct labor | $ 35,000 |
Manufacturing overhead | $ 29,300 |
Selling expenses | $ 21,200 |
Administrative expenses | $ 35,800 |
Conversion costs during the month totaled:
$64,300
Leas Corporation staffs a helpline to answer questions from customers. The costs of operating the helpline are variable with respect to the number of calls in a month. At a volume of 25,000 calls in a month, the costs of operating the helpline total $452,500.
To the nearest whole cent, what should be the average cost of operating the helpline per call at a volume of 25,300 calls in a month? (Assume that this call volume is within the relevant range.)
$18.10
Pedregon Corporation has provided the following information:
| Cost per Unit | Cost per Period |
|---|---|---|
Direct materials | $ 6.65 |
|
Direct labor | $ 3.70 |
|
Variable manufacturing overhead | $ 1.45 |
|
Fixed manufacturing overhead |
| $ 25,900 |
Sales commissions | $ 0.65 |
|
Variable administrative expense | $ 0.70 |
|
Fixed selling and administrative expense |
| $ 4,800 |
If 7,000 units are produced, the total amount of manufacturing overhead cost is closest to:
$36,050
Bowering Corporation has provided the following information:
| Cost per Unit | Cost per Period |
|---|---|---|
Direct materials | $ 6.60 |
|
Direct labor | $ 3.85 |
|
Variable manufacturing overhead | $ 1.50 |
|
Fixed manufacturing overhead |
| $ 81,000 |
Sales commissions | $ 0.50 |
|
Variable administrative expense | $ 0.50 |
|
Fixed selling and administrative expense |
| $ 44,550 |
For financial reporting purposes, the total amount of product costs incurred to make 9,000 units is closest to:
$188,550
Norred Corporation has provided the following information:
| Cost per Unit | Cost per Period |
|---|---|---|
Direct materials | $ 7.05 |
|
Direct labor | $ 3.70 |
|
Variable manufacturing overhead | $ 1.60 |
|
Fixed manufacturing overhead |
| $ 121,500 |
Sales commissions | $ 1.50 |
|
Variable administrative expense | $ 0.45 |
|
Fixed selling and administrative expense |
| $ 44,550 |
If 8,000 units are produced, the total amount of indirect manufacturing cost incurred is closest to:
$134,300
At an activity level of 9,300 machine-hours in a month, Falks Corporation’s total variable production engineering cost is $766,320 and its total fixed production engineering cost is $191,040. What would be the total production engineering cost per machine-hour, both fixed and variable, at an activity level of 9,600 machine-hours in a month? Assume that this level of activity is within the relevant range.
Note: Round intermediate calculations to 2 decimal places.
$102.30
Streif Incorporated, a local retailer, has provided the following data for the month of June:
Merchandise inventory, beginning balance | $ 46,000 |
|---|---|
Merchandise inventory, ending balance | $ 52,000 |
Sales | $ 260,000 |
Purchases of merchandise inventory | $ 128,000 |
Selling expense | $ 13,000 |
Administrative expense | $ 40,000 |
The cost of goods sold for June was:
$122,000
Schwiesow Corporation has provided the following information:
| Cost per Unit | Cost per Period |
|---|---|---|
Direct materials | $ 7.05 |
|
Direct labor | $ 3.50 |
|
Variable manufacturing overhead | $ 1.65 |
|
Fixed manufacturing overhead |
| $ 11,000 |
Sales commissions | $ 1.00 |
|
Variable administrative expense | $ 0.40 |
|
Fixed selling and administrative expense |
| $ 5,500 |
If the selling price is $18.70 per unit, the contribution margin per unit sold is closest to:
$5.10
Baj Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company considers all of its manufacturing overhead costs to be fixed and it has provided the following data for the most recent year.
Estimated total fixed manufacturing overhead from the beginning of the year $ 534,000
Estimated activity level from the beginning of the year 30,000 machine-hours
Actual total fixed manufacturing overhead $ 487,000
Actual activity level 27,400 machine-hours
The predetermined overhead rate per machine-hour would be closest to:
$17.80
Beans Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $162,000, variable manufacturing overhead of $2.80 per direct labor-hour, and 60,000 direct labor-hours. Recently, Job K818 was completed with the following characteristics:
Number of units in the job 10
Total direct labor-hours 50
Direct materials $ 920
Direct labor cost $ 1,400
The estimated total manufacturing overhead is closest to:
$330,000
Laflame Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:
Total machine-hours 70,000
Total fixed manufacturing overhead cost $ 357,000
Variable manufacturing overhead per machine-hour $ 3.90
The estimated total manufacturing overhead is closest to:
$630,000
Odonnel Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $36,000, variable manufacturing overhead of $2.80 per direct labor-hour, and 10,000 direct labor-hours.
The predetermined overhead rate is closest to:
$6.40 per direct labor-hour
Lueckenhoff Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $497,000, variable manufacturing overhead of $2.40 per direct labor-hour, and 70,000 direct labor-hours. The company has provided the following data concerning Job T498 which was recently completed:
Number of units in the job 40
Total direct labor-hours 80
Direct materials $ 950
Direct labor cost $ 2,720
The predetermined overhead rate is closest to:
$9.50 per direct labor-hour
Reamer Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation has provided the following estimated costs for next year:
Direct materials $ 1,000
Direct labor $ 3,000
Sales commissions $ 4,000
Salary of production supervisor $ 2,000
Indirect materials $ 400
Advertising expense $ 800
Rent on factory equipment $ 1,000
Reamer estimates that 500 direct labor-hours and 1,000 machine-hours will be worked during the year. The predetermined overhead rate per hour will be:
$3.40 per machine-hour
Harootunian Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:
Total machine-hours 80,000
Total fixed manufacturing overhead cost $ 312,000
Variable manufacturing overhead per machine-hour $ 2.10
Recently, Job T629 was completed with the following characteristics:
Number of units in the job 50
Total machine-hours 200
The estimated total manufacturing overhead is closest to:
$480,000
Housholder Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year.
Estimated total fixed manufacturing overhead from the beginning of the year $ 310,000
Estimated activity level from the beginning of the year 20,000 machine-hours
Actual total fixed manufacturing overhead $ 338,000
Actual activity level 18,300 machine-hours
The predetermined overhead rate is closest to:
$15.50
Kavin Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year.
Predetermined overhead rate $ 23.60 per machine-hour
Estimated total fixed manufacturing overhead from the beginning of the year $ 708,000
Estimated activity level from the beginning of the year 30,000 machine-hours
Actual total fixed manufacturing overhead $ 752,000
Actual activity level 28,100 machine-hours
The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:
$663,160
Housholder Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year.
Estimated total fixed manufacturing overhead from the beginning of the year $ 310,000
Estimated activity level from the beginning of the year 20,000 machine-hours
Actual total fixed manufacturing overhead $ 338,000
Actual activity level 18,300 machine-hours
The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:
Note: Round your intermediate calculations to 2 decimal places.
$283,650
Sargent Corporation applies overhead cost to jobs on the basis of 50% of direct labor cost. If Job 210 shows $13,250 of manufacturing overhead cost applied, how much was the direct labor cost on the job?
$26,500
Juanita Corporation uses a job-order costing system and applies overhead on the basis of direct labor cost. At the end of October, Juanita had one job still in process. The job cost sheet for this job contained the following information:
Direct materials $ 480
Direct labor $ 150
Manufacturing overhead applied $ 600
An additional $100 of labor was needed in November to complete this job. For this job, how much should Juanita have transferred to finished goods inventory in November when it was completed?
$1,730
Huang Aerospace Corporation manufactures aviation control panels in two departments, Fabrication and Assembly. In the Fabrication department, Huang uses a predetermined overhead rate of $30 per machine-hour. In the Assembly department, Huang uses a predetermined overhead rate of $12 per direct labor-hour. During the current year, Job number X2984 incurred the following number of hours in each department:
Fabrication Assembly
Machine-hours 40 12
Direct labor-hours 3 25
What is the total amount of manufacturing overhead that Huang should have applied to Job number X2984 during the current year?
$1,500
The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $2,059. A total of 41 direct labor-hours and 200 machine-hours were worked on the job. The direct labor wage rate is $21 per labor-hour. The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $29 per machine-hour. The total cost for the job on its job cost sheet would be:
$8,720
McAdams Incorporated uses a job-order costing system and its total manufacturing overhead applied always equals its total manufacturing overhead. In April, the company completed job C21F that consisted of 18,000 units of one of the company's standard products. No other jobs were in process, completed, or sold during the month. The total manufacturing cost on job C21F's job cost sheet was $702,000. During the month, 13,000 completed units from job C21F were sold.
The unit product cost for job C21F is closest to:
$39.00
Nagle Incorporated uses a job-order costing system and its total manufacturing overhead applied always equals its total manufacturing overhead. In October the company completed job O43G that consisted of 24,000 units of one of the company's standard products. No other jobs were in process or sold during the month. The job cost sheet for job O43G shows that the total cost for the job was $928,800. During the month, 21,000 completed units from job O43G were sold. The cost of goods sold that would appear on the income statement for October is closest to:
$812,700
Abramov Incorporated uses a job-order costing system and its total manufacturing overhead applied always equals its total manufacturing overhead. In May the company completed job N29W that consisted of 15,000 units of one of the company's standard products. No other jobs were in beginning finished goods inventory or work in process during the month. The job cost sheet for job N29W shows that the job's total cost was $732,000. During the month, 6,000 completed units from job N29W were sold. The finished goods inventory at the end of May is closest to:
$439,200
McAdams Incorporated uses a job-order costing system and its total manufacturing overhead applied always equals its total manufacturing overhead. In April, the company completed job C21F that consisted of 18,000 units of one of the company's standard products. No other jobs were in process, completed, or sold during the month. The total manufacturing cost on job C21F's job cost sheet was $702,000. During the month, 13,000 completed units from job C21F were sold.
The cost of goods sold that would appear on the income statement for April is closest to:
$507,000
McAdams Incorporated uses a job-order costing system and its total manufacturing overhead applied always equals its total manufacturing overhead. In April, the company completed job C21F that consisted of 18,000 units of one of the company's standard products. No other jobs were in process, completed, or sold during the month. The total manufacturing cost on job C21F's job cost sheet was $702,000. During the month, 13,000 completed units from job C21F were sold.
The finished goods inventory at the end of April is closest to:
$195,000
Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations.
Estimated manufacturing overhead | $ 157,900 |
|---|---|
Estimated machine-hours | 4,670 |
Actual manufacturing overhead | $ 157,700 |
Actual machine-hours | 4,920 |
The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year.
The predetermined overhead rate is closest to:
$33.81
Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $239,900 and 4,720 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $247,000 and actual direct labor-hours were 4,670.
The predetermined overhead rate for the year was closest to
$50.83
Lister Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year:
Estimated total manufacturing overhead at the beginning of the year | $ 624,000 |
|
|---|---|---|
Estimated direct labor-hours at the beginning of the year | 39,000 | direct labor-hours |
Results of operations:
Actual direct labor-hours | 36,000 | direct labor-hours |
|---|---|---|
Manufacturing Overhead : |
|
|
Indirect labor cost | $ 131,000 |
|
Other manufacturing overhead costs incurred | $ 543,000 |
|
The total amount of manufacturing overhead applied to production is:
$576,000
Caple Corporation applies manufacturing overhead on the basis of machine-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $16,660. Actual manufacturing overhead for the year amounted to $25,000 and actual machine-hours were 1,460. The company's predetermined overhead rate for the year was $11.90 per machine-hour.
The applied manufacturing overhead for the year was closest to:
$17,374
Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations.
Estimated manufacturing overhead | $ 157,800 |
|---|---|
Estimated machine-hours | 4,650 |
Actual manufacturing overhead | $ 157,500 |
Actual machine-hours | 4,880 |
The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year.
The applied manufacturing overhead for the year is closest to:
Note: Round your intermediate calculations to 2 decimal places.
$165,627
Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $242,700 and 7,700 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $244,000 and actual direct labor-hours were 5,600.
The applied manufacturing overhead for the year was closest to:
Note: Round your intermediate calculations to 2 decimal places.
$176,512
Heathcote Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year:
Estimated total manufacturing overhead at the beginning of the year | $ 546,000 |
|
|---|---|---|
Estimated direct labor-hours at the beginning of the year | 42,000 | direct labor-hours |
Results of operations:
Actual direct labor-hours | 47,000 | direct labor-hours |
|---|---|---|
Manufacturing overhead: |
|
|
Indirect labor cost | $ 152,000 |
|
Other manufacturing overhead costs incurred | $ 454,000 |
|
Cost of goods manufactured | $ 1,569,000 |
|
Cost of goods sold (unadjusted) | $ 1,458,000 |
|
The total amount of manufacturing overhead applied to production is:
$611,000
Brendal Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year:
Estimated total manufacturing overhead at the beginning of the year | $ 693,000 |
|
|---|---|---|
Estimated direct labor-hours at the beginning of the year | 42,000 | direct labor-hours |
Results of operations:
Raw materials (all direct) requisitioned for use in production | $ 525,000 |
|
|---|---|---|
Direct labor cost | $ 690,000 |
|
Actual direct labor-hours | 49,000 | direct labor-hours |
Manufacturing Overhead |
|
|
Indirect labor cost | $ 138,000 |
|
Other manufacturing overhead costs incurred | $ 506,000 |
|
How much is the total manufacturing cost added to Work in Process during the year?
$2,023,500
Compute the amount of raw materials used during November if 36,000ofrawmaterialswerepurchasedduringthemonthandiftheinventorieswereasfollows:</p><tablestyle="min−width:75px;"><colgroup><colstyle="min−width:25px;"><colstyle="min−width:25px;"><colstyle="min−width:25px;"></colgroup><tbody><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px30px0px0px;font:inherit;vertical−align:bottom;text−align:center;"><p>Inventories</p></th><thcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;text−align:center;vertical−align:bottom;"><p>BalanceNovember1</p></th><thcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;text−align:center;vertical−align:bottom;"><p>BalanceNovember30</p></th></tr><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px0px0px15px;font:inherit;text−align:left;vertical−align:middle;"><p>Rawmaterials</p></th><tdcolspan="1"rowspan="1"style="margin:0px;padding:0px35px0px0px;font:inherit;vertical−align:middle;text−align:right;"><p> 9,400
$ 5,200
Work in process
$ 7,200
$ 8,700
Finished goods
$ 11,200
$ 13,200
$40,200
Gurtner Corporation has provided the following data concerning last month’s operations.
Cost of goods manufactured | $ 170,000 |
|---|---|
Underapplied overhead | $ 4,000 |
| Beginning | Ending |
|---|---|---|
Finished goods inventory | $ 33,000 | $ 40,000 |
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
How much is the unadjusted cost of goods sold on the Schedule of Cost of Goods Sold?
$163,000
Tenneson Corporation’s cost of goods manufactured for the just completed month was 151,000anditsinventorieswereasfollows:</p><tablestyle="min−width:75px;"><colgroup><colstyle="min−width:25px;"><colstyle="min−width:25px;"><colstyle="min−width:25px;"></colgroup><tbody><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;text−align:left;vertical−align:middle;"><p> </p></th><thcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;text−align:center;vertical−align:middle;"><p>Beginning</p></th><thcolspan="1"rowspan="1"style="margin:0px;padding:0px;font:inherit;text−align:center;vertical−align:middle;"><p>Ending</p></th></tr><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px0px0px10px;font:inherit;text−align:left;vertical−align:middle;"><p>Workinprocessinventory</p></th><tdcolspan="1"rowspan="1"style="margin:0px;padding:0px15px0px0px;font:inherit;vertical−align:middle;text−align:right;"><p> 63,000
$ 66,000
Finished goods inventory
$ 34,000
$ 48,000
How much was the cost of goods available for sale on the Schedule of Cost of Goods Sold?
$185,000
Vogel Corporation’s cost of goods manufactured last month was $136,000. The beginning finished goods inventory was $35,000 and the ending finished goods inventory was $48,000. Overhead was overapplied by $6,000. Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
How much is the unadjusted cost of goods sold on the Schedule of Cost of Goods Sold?
$123,000
The accounting records of Omar Corporation contained the following information for last year:
| Beginning | Ending |
|---|---|---|
Direct materials inventory | $ 9,000 | $ 7,000 |
Work in process inventory | $ 17,000 | $ 31,000 |
Finished goods inventory | $ 10,000 | $ 15,000 |
| Manufacturing Costs Incurred |
|---|---|
Direct materials used | $ 72,000 |
Overhead applied | $ 24,000 |
Direct labor cost (10,000 hours) | $ 80,000 |
Depreciation | $ 10,000 |
Rent | $ 12,000 |
Taxes | $ 8,000 |
Unadjusted cost of goods sold (does not include overapplied or underapplied overhead) | $ 157,000 |
| Selling, General, and Administrative Costs Incurred |
|---|---|
Advertising | $ 35,000 |
Rent | $ 20,000 |
Clerical | $ 25,000 |
The cost of goods manufactured for the year was:
$162,000
Rediger Incorporated a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Process inventory account was $26,000 at the beginning of the month and $19,000 at the end of the month. During the month, the Corporation incurred direct materials cost of $55,800 and direct labor cost of $29,200. The actual manufacturing overhead cost incurred was $53,400. The manufacturing overhead cost applied to Work in Process was $51,800. The cost of goods manufactured for June was:
$143,800.
Koczela Incorporated has provided the following data for the month of May:
Inventories:
| Beginning | Ending |
|---|---|---|
Work in process | $ 20,000 | $ 15,000 |
Finished goods | $ 49,000 | $ 53,000 |
Additional information:
Direct materials | $ 60,000 |
|---|---|
Direct labor cost | $ 90,000 |
Manufacturing overhead cost incurred | $ 66,000 |
Manufacturing overhead cost applied to Work in Process | $ 64,000 |
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
The cost of goods manufactured for May is:
$219,000
Dacosta Corporation had only one job in process on May 1. The job had been charged with $1,950 of direct materials, $6,990 of direct labor, and $9,978 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $18.70 per direct labor-hour.
During May, the following activity was recorded:
Raw materials (all direct materials): |
|
|---|---|
Beginning balance | $ 8,650 |
Purchased during the month | $ 38,150 |
Used in production | $ 39,450 |
Labor: |
|
Direct labor-hours worked during the month | 2,050 |
Direct labor cost incurred | $ 24,660 |
Actual manufacturing overhead costs incurred | $ 33,450 |
Inventories: |
|
Raw materials, May 30 | ?question mark |
Work in process, May 30 | $ 16,976 |
Work in process inventory on May 30 contains $3,768 of direct labor cost. Raw materials consist solely of items that are classified as direct materials.
The cost of goods manufactured for May was:
$104,387
Precision Corporation used a predetermined overhead rate last year of 3perdirectlabor−hour,basedonanestimateof24,000directlabor−hourstobeworkedduringtheyear.Actualcostsandactivityduringtheyearwere:</p><tablestyle="min−width:50px;"><colgroup><colstyle="min−width:25px;"><colstyle="min−width:25px;"></colgroup><tbody><tr><thcolspan="1"rowspan="1"style="margin:0px;padding:0px0px0px15px;font:inherit;width:480px;text−align:left;vertical−align:middle;"><p>Actualmanufacturingoverheadcostincurred</p></th><tdcolspan="1"rowspan="1"style="margin:0px;padding:0px10px0px0px;font:inherit;vertical−align:middle;width:100px;text−align:right;"><p> 84,000
Actual direct labor-hours worked
27,000
The overapplied or underapplied manufacturing overhead for the year was:
$3,000 underapplied