Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Trap Doors And Trojan Horses An Auditing Action Adventure

Authors: D. Larry Crumbley, David Kerr, Veronica Paz, Lawrence Smith

1st Edition

1531021573, 978-1531021573

More Books

Students also viewed these Accounting questions