6 Tiff Corporation has two production departments, Casting and Assembly. The company uses a job-order costing...
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6 Tiff Corporation has two production departments, Casting and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Casting Assembly 17,000 1,000 $ 129,200 10,000 5,000 $ 46,500 $ 1.80 $ 3.80 During the current month the company started and finished Job P131. The following data were recorded for this job Job P131: Machine-hours Direct labor-hours Casting 90 Assembly 20 20 60 The amount of overhead applied in the Assembly Department to Job P131 is closest to Note: Round your intermediate calculations to 2 decimal places. 6 Tiff Corporation has two production departments, Casting and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Casting Assembly 17,000 1,000 $ 129,200 10,000 5,000 $ 46,500 $ 1.80 $ 3.80 During the current month the company started and finished Job P131. The following data were recorded for this job Job P131: Machine-hours Direct labor-hours Casting 90 Assembly 20 20 60 The amount of overhead applied in the Assembly Department to Job P131 is closest to Note: Round your intermediate calculations to 2 decimal places.
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Related Book For
Managerial Accounting
ISBN: 978-0078111006
14th edition
Authors: Ray Garrison, Eric Noreen and Peter Brewer
Posted Date:
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