Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer please and thank you! rates in applying manufacturing overhead cost to individual jobs. The predetermined overhead rate in y, Inc. has a job-order costing

Answer please and thank you!
image text in transcribed
rates in applying manufacturing overhead cost to individual jobs. The predetermined overhead rate in y, Inc. has a job-order costing system. The company uses predetermined overhead Department A is based on machine-hours, and the rate in Department B is based on direct labor hours. At the beginning of the most recent year, the company's management made the following estimates for the year: Department A Department B Machine-hours. 70,000 19,000 Direct labor-hours 30,000 60,000 Direct materials $195,000 $282,000 Direct labor....... $260,000 $520,000 Manufacturing overhead ... $420,000 $705,000 Job 243 entered into production an April 1 and was completed on May 12. The company's cost records show the following information about the job: Department Department A B Machine-hours...... 250 60 Direct labor-hours 70 120 Direct materials.... $840 $1,100 Direct labor........... $610 $880 Required: a. Compute the predetermined overhead rates for Department A and Department B. b. Compute the total overhead cost applied to Job 243. c. Compute the total job cost of Job 243 d. Compute the unit cost of Job 243 if the job produces 300 units

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

Payroll Accounting 2019

Authors: Bernard J. Bieg, Judith A. Toland

29th Edition

1337619779

More Books

Students also viewed these Accounting questions