Question
1. Copy Center pays an average wage of $13 per hour to employees for printing and copying jobs, and allocates $18 of overhead for each
1.
Copy Center pays an average wage of $13 per hour to employees for printing and copying jobs, and allocates $18 of overhead for each employee hour worked. Direct materials are assigned to each job according to actual cost. Jobs are marked up 20% above total manufacturing cost to determine the selling price. If Job M-47 used $370 of direct materials and took 15 direct hours of labor to complete, what is the selling price of the job?
rev: 11_20_2019_QC_CS-191445
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$912.
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$768.
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$678.
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$1,002.
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ob A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,600 of direct materials and used $4,100 of direct labor. The job was not finished by the end of September, but needed an additional $3,100 of direct materials in October and additional direct labor of $6,600 to finish the job. The company applies overhead at the end of each month at a rate of 150% of the direct labor cost. What is the amount of job costs added to Work in Process Inventory during October?
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$16,400
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$23,700
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$29,400
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$32,450
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$19,600
3.
Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $380,000, and direct labor costs to be $190,000. Actual overhead costs for the year totaled $406,000, and actual direct labor costs totaled $214,000. At year-end, the balance in the Factory Overhead account is a:
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$22,000 Debit balance.
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$428,000 Credit balance.
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$406,000 Debit balance.
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$22,000 Credit balance.
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$214,000 Debit balance.
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