INDICATE YOUR ANSWERS ON THIS EXCEL SPREADSHEET IN COLUMNE Your answer QI MARKS QUESTION 1 1. BOOM Inc. uses a job order costing system. The estimated manufacturing overhead for the year is $2,000,000. The company has decided to allocate the manufacturing overhead to products on the basis of direct labour hours. The estimated direct labor hours for the year are 80,000 hours. A 2 What is the pre-determine fixed overhead rate that will be used to apply manufacturing overhead to products? Job # 101 has accumulated $10,000 of direct materials and $30,000 of direct labour costs. The rate per direct labour hour is $30. B 2 How much manufacturing overhead will be applied to Job #101? 2 What is the total manufacturing cost of Job # 101? Job # 102 has accumulated $40,000 of direct materials and $60,000 of direct labour costs. The rate per direct labour hour is $40. D 2 E 2 How much manufacturing overhead will be applied to Job #102? What is the total manufacturing cost of Job # 102 ? Job # 103 has accumulated $12,000 of direct materials and $24,000 of direct labour costs. The rate per direct labour hour is $12. F 2 How much manufacturing overhead will be applied to Job #103? What is the total manufacturing cost of Job # 103 ? G 2 At the end of the year BOOM Inc. produced over 150 different jobs. Actual manufacturing overhead costs amounted to $2,200,000 instead of the $2,000,000 estimated at the beginning of the year. The actual direct labour hours amounted to 100,000 hours instead of the 80,000 hours estimated at the beginning of the year. H 2 How much manufacturing overhead was applied to all of the 150+ jobs? 1 2 Was the manufacturing overhead over or under applied? J 2 By how much was the manufacturing overhead over or under applied? 02 QUESTION 2 Boohoohoo Inc. uses a job order costing system. The fixed manufacturing overhead for the year is $4,000,000. The company has decided to allocate the manufacturing overhead to products on the basis of machine hours. The estimated machine hours for the year are 500,000 hours. A What is the pre-determine fixed overhead rate that will be used to apply fixed manufacturing overhead to products? 2 Job # 999 has accumulated $20,000 of direct materials and $10,000 of direct labour costs. The rate per direct labour hour is $25. To complete Job # 999, 1,000 machine hours were used. C42 How much manufacturing overhead will be applied to Job # 999 ? What is the total manufacturing cost of Job # 999? B 2 2 Job # 998 has accumulated $15,000 of direct materials and $60,000 of direct labour costs. The rate per direct labour hour is $25. To complete Job #998, 2,000 machine hours were used. D 2 How much manufacturing overhead will be applied to Job # 998 ? What is the total manufacturing cost of Job # 998 ? E 2 Job # 997 has accumulated $75,000 of direct materials and $125,000 of direct labour costs. The rate per direct labour hour is $20. To complete Job #997, 50,000 machine hours were used. G 2 How much manufacturing overhead will be applied to Job #997 ? J 2 What is the total manufacturing cost of Job # 997 ? At the end of the year Boohoohoo produced over 750 different jobs. Actual manufacturing overhead costs amounted to $4,800,000 instead of the $4,000,000 estimated at the beginning of the year. The actual machine hours amounted to 400,000 hours instead of the 500,000 hours estimated at the beginning of the year. H 2 1 2 How much fixed manufacturing overhead was applied to all 750+ jobs? Was the manufacturing overhead over or under applied? By how much was the manufacturing overhead over or under applied? J 2 QUESTION 3 Hohoho Inc. uses a job order costing system. The estimated manufacturing overhead for the year is $3,500,000. The company has decided to allocate the manufacturing overhead to products on the basis of direct labour cost. The estimated direct labour costs for the year are $2,000,000. K 2 What is the pre-determine fixed overhead rate that will be used to apply fixed manufacturing overhead to products? Job # 123 has accumulated $10,000 of direct materials and $20,000 of direct labour costs. The rate per direct labour hour is $25.. L 2 How much manufacturing overhead will be applied to Job #123?. M 2 What is the total manufacturing cost of Job # 123 ? Job # 124 has accumulated $18,000 of direct materials and $60,000 of direct labour costs. The rate per direct labour hour is $60. N 2 How much manufacturing overhead will be applied to Job #124? What is the total manufacturing cost of Job # 124 ? 0 2 Job # 125 has accumulated $12,000 of direct materials and $25,000 of direct labour costs. The rate per direct labour hour is $25. P 2 How much manufacturing overhead will be applied to Job #125?. Q 2 What is the total manufacturing cost of Job # 125 ? At the end of the year over 40,000 different jobs were produced. Actual manufacturing overhead costs amounted to $3,200,000 instead of the S3,500,000 estimated at the beginning of the year. The actual direct labour costs amounted to $2,200,000 instead of the S2,000,000 estimated at the beginning of the year. R 2 How much manufacturing overhead was applied to all of the 40,000 + jobs? S 2 Was the manufacturing overhead over or under applied? T 2 By how much was the manufacturing overhead over or under applied