Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Geo Tire manufactures tres for at samain vehicles Geo uses jobsing and has a perpetual inventory system. On November 22, Geo received an order

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Geo Tire manufactures tres for at samain vehicles Geo uses jobsing and has a perpetual inventory system. On November 22, Geo received an order for 100 TX res from ATV Corporation at a price of $60 each. The job assigned number 298, we promised for December 10. After purchasing the materials. Geo began production on November 30 and incurred the following direct labor and direct materials costs in completing the order (Click the loan to view thesis) Gen alocales manufacturing overhead to jobs on the basis of the relation between expected overhead costs ($410,000) and expected direct labor hours (20,500) Job 298 was completed on December 3 and shipped to ATV on December Requirement 1. Prepare a job cost record for Job 20 Calculate the predetermined overhead rate, then apply manufacturing overhead to the job. Begin by identifying the formula and computing the predetermined overhead Predetermined overhead per hour Complete the job cost recond in onder of direct materials, direct labor, and allocated manufacturing overhead. Then prepare the overall cost sumary (List the dates in chronological order. Enter the labor time records in the comet row according to date an input field is not used in the table, leave the input field empty: do not enter a zero) Job Cost Record Job No. 295 Customer Name Job Description ATV Corporation 100 TX Date Promised 12-10 Dele Sarted 11-30 Date Completed 12-3 Direct Materials Orect Labor Manufacturing Overhead Allocated Requisition Data Number Amount Labor Time Record Number Amount Date Rate Amount 20XX per direct labor hr Overall Cost Summary

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

Introduction to Governmental and Not for Profit Accounting

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

7th edition

9780132776073, 132776014, 978-0132776011

More Books

Students also viewed these Accounting questions

Question

What global operations strategy is most descriptive of McDonalds?

Answered: 1 week ago