Question
1. Dehner 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
1.
Dehner 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 the following data:
| Total direct labor-hours | 58,000 | |
| Total fixed manufacturing overhead cost | $ | 174,000 |
| Variable manufacturing overhead per direct labor-hour | $ | 5.00 |
Recently, Job P951 was completed with the following characteristics:
| Number of units in the job | 50 | |
| Total direct labor-hours | 100 | |
| Direct materials | $ | 690 |
| Direct labor cost | $ | 5,800 |
The total job cost for Job P951 is closest to: (Round your intermediate calculations to 2 decimal places.)
2.
The following accounts are from last years books at Sharp Manufacturing:
| Raw Materials | |||
| Bal | 0 | (b) | 155,000 |
| (a) | 166,500 | ||
| 11,500 | |||
| Work In Process | |||
| Bal | 0 | (f) | 514,000 |
| (b) | 132,500 | ||
| (c) | 169,000 | ||
| (e) | 212,500 | ||
| 0 | |||
| Finished Goods | |||
| Bal | 0 | (g) | 465,000 |
| (f) | 514,000 | ||
| 49,000 | |||
| Manufacturing Overhead | |||
| (b) | 22,500 | (e) | 212,500 |
| (c) | 26,500 | ||
| (d) | 157,000 | ||
| 6,500 | |||
| Cost of Goods Sold | |||
| (g) | 465,000 | ||
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the manufacturing overhead overapplied or underapplied for the year?
3.
The following accounts are from last years books at Sharp Manufacturing:
| Raw Materials | |||
| Bal | 0 | (b) | 156,000 |
| (a) | 169,000 | ||
| 13,000 | |||
| Work In Process | |||
| Bal | 0 | (f) | 518,000 |
| (b) | 133,000 | ||
| (c) | 170,000 | ||
| (e) | 215,000 | ||
| 0 | |||
| Finished Goods | |||
| Bal | 0 | (g) | 470,000 |
| (f) | 518,000 | ||
| 48,000 | |||
| Manufacturing Overhead | |||
| (b) | 23,000 | (e) | 215,000 |
| (c) | 27,000 | ||
| (d) | 158,000 | ||
| 7,000 | |||
| Cost of Goods Sold | |||
| (g) | 470,000 | ||
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year?
4.
Boursaw Corporation has provided the following data concerning last months operations.
| Purchases of raw materials | $ | 33,000 |
| Indirect materials included in manufacturing overhead | $ | 4,000 |
| Direct labor cost | $ | 58,000 |
| Manufacturing overhead applied to Work in Process | $ | 78,000 |
| Underapplied overhead | $ | 5,000 |
| Beginning | Ending | |||
| Raw materials inventory | $ | 10,000 | $ | 15,000 |
| Work in process inventory | $ | 56,000 | $ | 72,000 |
| Finished goods inventory | $ | 41,000 | $ | 49,000 |
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
How much is the direct materials cost for the month on the Schedule of Cost of Goods Manufactured?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Internal Auditing In Plain English A Simple Guide To Super Effective ISO Audits
Authors: Craig Cochran
1st Edition
1932828168, 978-1932828160
