Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1) Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $3,400 of direct materials and used

1) Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $3,400 of direct materials and used $4,900 of direct labor. The job was not finished by the end of September, but needed an additional $3,900 of direct materials and additional direct labor of $7,400 to finish the job in October. The company applies overhead at the end of each month at a rate of 100% of the direct labor cost incurred. What is the total cost of the job when it is completed in October?

2) B&T Company's production costs for May are: direct labor, $15,000; indirect labor, $6,700; direct materials, $15,200; property taxes on production facility, $820; factory heat, lights and power, $1,020; and insurance on plant and equipment, $220. B&T Company's factory overhead incurred for May is:

3)Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $3,750,000 (250,000 hours at $15/hour) and that factory overhead would be $1,550,000 for the current period. At the end of the period, the records show that there had been 230,000 hours of direct labor and $1,250,000 of actual overhead costs. Using direct labor hours as a base, what was the predetermined overhead rate? (Round your answer to two decimal places.)

4) Copy Center pays an average wage of $12 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. If Job M-47 used $365 of direct materials and took 20 direct labor hours of labor to complete, what is the total cost that should be assigned to the job?

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

Survey of Accounting

Authors: Carl S Warren

5th Edition

9780538489737, 538749091, 538489731, 978-0538749091

More Books

Students also viewed these Accounting questions

Question

What are the advantages of using standard scores?

Answered: 1 week ago