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descriptions of producth, jobs or seevices uisler the cnlumn for eteer sing Enter the letier CX) ost to the job onler costing oe proes )
descriptions of producth, jobs or seevices uisler the cnlumn for eteer sing Enter the letier CX) ost to the job onler costing oe proes ) e in production Descriptioss B. Auto repeir C Accounting fim D. Beverage E. Small Appliance F. Lawn service G. Hollywood movie H. Ciasoline I. Attomey service .Computer mouse K. Submarine built for US Department of Defense L. Light bulb In Class Exercise 2-2 (L02-2) A. Direct Materials B. Direct Labor C. Manufacturing Overhead D. Nonmanufacturing Cost Classify the following costs into one of the above four categories: Salaries of site supervisors Fixture used in building home Depreciation of equipment used in production Depreciation of headquarter building Glue used in assembling wooden tables Utilities cost of the factory 2. 4. 5. 6. 7. 8. Compensation of the CEO Wages of workers framing the home Utilities cost of the building for administration 10. Hard disks used for building laptop computers Chapter 02- Job Ordar Custing in Class bercise 2-3 ILO's 2 3 and 2.5) Leo, Ins, expects to assemble 20,000 units of laptop computers this coming month. The amount of manufacturing overhead incurred this coming mosth is estimatod to be $1,100,000. The sumber of direct labor hours is estimated to be 4,000 hours. Leo, Inc. is currenaly ssing direct isbor hours as the single requires labor wark of 200 hours. Answer the foilowing qaestions I. Caleulate the predetermined overhead nate used to apply menufacturing overhead Based on your answer in (1h, calculate how much of manufactured overhead should be applied to this specific order 2 The amount of actual manufacturing overhcad incurred equals $1,200,000 at the end of this month. The amount of applied manufacturing overhead during this month is S1,058,000 Calculate the overapplied or underapplied manufacturing overbend 3. Indicate bow to dispose of the overapplied or underapplied manufacturing overhead Work is Pwsess Invenory and emoved om Raw Materials Invenbry The lvt sike of Mating Orad toveotory cunt reprosonts the achust Werk in Prwess Invewem, aovwmulate, the dired materials, direct lalen', and the y,find waslatring overheat st fo each job Oce a jolb has been wold, is total cost is vanafered out of Finished Goesls Inventory to Cost of Gsds Sold Actual manslcturing overhomd costs insecludo all of the indirest manafacturing costs lfajob is ownpleted, its Kual manufa turing eist , transferred out of rinished Goods Raw Materials Inventwy, Work in Process Inventory, and Finished Goods accounts are Co" of gnds manufactured represents the cost of goods ompleted during the necounting ineurred but that cnnnot be traced to the specific ohs. Inventoey and assigoesd to Work in Phess Inventory available on the inoone Matened 10. period. overapplied overhead at the end of May 6 Calkculate the adjusted cost of goods sold aher yos remove the undecrapplied or overspplised overthend descriptions of producth, jobs or seevices uisler the cnlumn for eteer sing Enter the letier CX) ost to the job onler costing oe proes ) e in production Descriptioss B. Auto repeir C Accounting fim D. Beverage E. Small Appliance F. Lawn service G. Hollywood movie H. Ciasoline I. Attomey service .Computer mouse K. Submarine built for US Department of Defense L. Light bulb In Class Exercise 2-2 (L02-2) A. Direct Materials B. Direct Labor C. Manufacturing Overhead D. Nonmanufacturing Cost Classify the following costs into one of the above four categories: Salaries of site supervisors Fixture used in building home Depreciation of equipment used in production Depreciation of headquarter building Glue used in assembling wooden tables Utilities cost of the factory 2. 4. 5. 6. 7. 8. Compensation of the CEO Wages of workers framing the home Utilities cost of the building for administration 10. Hard disks used for building laptop computers Chapter 02- Job Ordar Custing in Class bercise 2-3 ILO's 2 3 and 2.5) Leo, Ins, expects to assemble 20,000 units of laptop computers this coming month. The amount of manufacturing overhead incurred this coming mosth is estimatod to be $1,100,000. The sumber of direct labor hours is estimated to be 4,000 hours. Leo, Inc. is currenaly ssing direct isbor hours as the single requires labor wark of 200 hours. Answer the foilowing qaestions I. Caleulate the predetermined overhead nate used to apply menufacturing overhead Based on your answer in (1h, calculate how much of manufactured overhead should be applied to this specific order 2 The amount of actual manufacturing overhcad incurred equals $1,200,000 at the end of this month. The amount of applied manufacturing overhead during this month is S1,058,000 Calculate the overapplied or underapplied manufacturing overbend 3. Indicate bow to dispose of the overapplied or underapplied manufacturing overhead Work is Pwsess Invenory and emoved om Raw Materials Invenbry The lvt sike of Mating Orad toveotory cunt reprosonts the achust Werk in Prwess Invewem, aovwmulate, the dired materials, direct lalen', and the y,find waslatring overheat st fo each job Oce a jolb has been wold, is total cost is vanafered out of Finished Goesls Inventory to Cost of Gsds Sold Actual manslcturing overhomd costs insecludo all of the indirest manafacturing costs lfajob is ownpleted, its Kual manufa turing eist , transferred out of rinished Goods Raw Materials Inventwy, Work in Process Inventory, and Finished Goods accounts are Co" of gnds manufactured represents the cost of goods ompleted during the necounting ineurred but that cnnnot be traced to the specific ohs. Inventoey and assigoesd to Work in Phess Inventory available on the inoone Matened 10. period. overapplied overhead at the end of May 6 Calkculate the adjusted cost of goods sold aher yos remove the undecrapplied or overspplised overthend
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