Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hi, I'm having hard time. please help me find the answer with computations on how you find the answer please Acct225 Integrative Case #1 You
Hi, I'm having hard time. please help me find the answer with computations on how you find the answer please
Acct225 Integrative Case #1 You have recently accepted a position with Dynamadics Inc. as a business analyst. As a recent graduate from Saskatchewan Polytechnic and based on your understanding of management accounting and management practices you are a perfect match for this position. Company background information Dynamadics Inc. is large, locally owned company operating in several regions within western Canada. Each region manufacture and sell apparel and accessories for both business and casual wear. The products lines include shoes, boots, sandals, purses, backpacks and computer bags. The company has an extensive distribution channel allowing for sales throughout the world. Operational information - Part 1 Dynamadics uses a job-order costing system in all of its operations. Manufacturing overhead costs (MOH) are applied to the manufacturing costs for all product lines using predetermined overhead rates. The following estimates were established at the beginning of the year for one specific product line-Specialized purses. Division Detailing Moulding Machine hours Direct labour cost Cost Driver (for PDOHR) Direct labour hours 12,750 61,500 Machine hours 73,000 8,300 Direct materials cost $513,000 $653,000 Direct labour cost $127,500 $649,700 $430,500 $731,850 Manufacturing overhead cost A recent order was started on August 1 and completed on August 10. This order was assigned job order number 220 and included 50 specialized purses made from high quality leather requiring hand-crafted detailing which is unique to each purse. The company's cost records are presented below for this job order. ne Division Moulding Detailing 20 110 Direct labour hours 120 Machine hours $500 Materials placed into production $320 Direct labour cost 15 $362 $710 Page 2 of 6 that ololalalal Acct225 Integrative Case #1 At the end of the year, Dynamadics recorded the following actual costs and operating data for all jobs that were completed in each of these two divisions during the year. Division Moulding Detailing 10,300 Direct labour hours Machine hours 62,300 9,300 65,300 433,000 683,000 Direct materials cost Direct labour cost. 111,000 439,000 592,470 722,625 Manufacturing overhead cost Requirement #1 (14 marks) You have been asked to provide the following: 1. Total cost for Job 220. (6 marks) 2. Cost per unit. (1 mark) 3. The journal entry to close out the overhead account in each division at the end of the year. (7 marks) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started