Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 2-2 (Algo) Apply Overhead Cost to Jobs (LO2-2) Luthan Company uses a plantwide predetermined overhead rate of $22.70 per direct labor-hour. This predetermined rate

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Exercise 2-2 (Algo) Apply Overhead Cost to Jobs (LO2-2) Luthan Company uses a plantwide predetermined overhead rate of $22.70 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $272,400 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor- hours. The company incurred actual total manufacturing overhead cost of $266,000 and 11,800 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied to all jobs during the period. Manufacturing overhead applied Exercise 2-3 (Algo) Computing Total Job Costs and Unit Product Costs Using a Plantwide Predetermined Overhead Rate (LO2-3) Mickley Company's plantwide predetermined overhead rate is $24.00 per direct labor-hour and its direct labor wage rate is $16.00 per hour. The following information pertains to Job A-500 Direct materials Direct labor $ 290 $ 240 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 50 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.) 1. Total manufacturing cost 2. Unit product cost per unit Exercise 2-4 (Algo) Computing Total Job Costs and Unit Product Costs Using Multiple Predetermined Overhead Rates (LO2-4) Fickel Company has two manufacturing departments-Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $14.00 per direct labor-hour and $10.00 per direct labor-hour, respectively. The company's direct labor wage rate is $17.00 per hour. The following information pertains to Job N-60: Testing & Assembly Packaging Direct materials Direct labor $355 $102 $31 $34 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job? (Do not round intermediate calculations. Round your answer to 2 decimal places.) 1. Total manufacturing cost 2. Unit product cost per unit Exercise 2-8 (Algo) Applying Overhead Cost; Computing Unit Product Cost (LO2-2, LO2-3) Newhard Company assigns overhead cost to jobs on the basis of 113% of direct labor cost. The job cost sheet for Job 313 includes $29,370 in direct materials cost and $11,000 in direct labor cost. A total of 1,600 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 3137 a. Total manufacturing cost b. Unit product cost

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

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav

13th Edition

8120335643, 136126634, 978-0136126638

More Books

Students also viewed these Accounting questions

Question

3. How has e-commerce transformed marketing?

Answered: 1 week ago