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Comans Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing 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: Milling 27,000 8,000 $86,400 $ 1.30 Customizing 19,000 3,000 $16,200 Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour $ 3.20 During the current month the company started and finished Job A319. The following data were recorded for this job: Job A319: Machine-hours Direct labor-hours Direct materials Direct labor cost Milling 30 40 $460 $520 Customizing 40 20 $200 $600 If the company marks up its manufacturing costs by 20% then the selling price for Job A319 would be closest to (Round your intermediate calculations to 2 decimal places.) Lupo 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 Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 31,800 $159,000 $ 2 Recently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials Direct labor cost 10 30 $ 660 $1,320 The unit product cost for Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.) Held Incorporated has provided the following data for the month of June. There were no beginning inventories consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Direct materials Direct labor Manufacturing overhead applied Total Cost of Work In Finished Goods Process Goods Sold Total $ 5,890 $14,070 $ 95,760 $115,720 9,680 20,100 136,800 166,580 5,880 10,080 68,040 84,000 $21,450 $44,250 $300,600 $366,300 Manufacturing overhead for the month was overapplied by $1,000. The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts The cost of goods sold for June after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to: The actual manufacturing overhead incurred at Gutekunst Corporation during March was $53,000, while the manufacturing overhead applied to Work in Process was $73,000. The Corporation's Cost of Goods Sold was $451,000 prior to closing out its Manufacturing Overhead account. The Corporation closes out its Manufacturing Overhead account to Cost of Goods Sold. Which of the following statements is true? Multiple Choice Manufacturing overhead was overapplied by $20,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $471.000 Manufacturing overhead was underapplied by $20,000: Cost of Goods Sold after closing out the Manufacturing Overhead account is $431,000 Manufacturing overhead was overapplied by $20,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $431,000 Manufacturing overhead was underapplied by $20,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $471,000 Nissley Wedding Fantasy Corporation makes very elaborate wedding cakes to order. The owner of the company has provided the following data concerning the activity rates in its activity-based costing system: Activity Cost Pools Size-related Complexity-related Order-related Activity Rate $ 1.16 per guest $ 28.50 per tier $ 75.00 per order The measure of activity for the size-related activity cost pool is the number of planned guests at the wedding reception. The greater the number of guests, the larger the cake. The measure of complexity is the number of tiers in the cake. The activity measure for the order-related cost pool is the number of orders. (Each wedding involves one order.) The activity rates include the costs raw ingredients such as flour, sugar, eggs, and shortening. The activity rates do not include the costs of purchased decorations such as miniature statues and wedding bells, which are accounted for separately. Data concerning two recent orders appear below: Tijerina Twersky Wedding Wedding 45 133 Number of reception guests Number of tiers on the cake $ 29.70 $ 54.92 Cost of purchased decorations for cake 2 4 Assuming that all of the costs listed above are avoidable costs in the event that an order is turned down, what amount would the company have to charge for the Tijerina wedding cake to just break even? Grib Corporation uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. The predetermined overhead rates for the year are 200% of direct labor cost for Department A and 50% of direct labor cost for Department B. Job 436, started and completed during the year, was charged with the following costs: Direct materials Direct labor Manufacturing overhead Department A $50,000 ? $80,000 Department B $10,000 $60,000 7 The total manufacturing cost assigned to Job 436 was
