Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Job A500: Direct materials: Fabric FB70 180 bolts @ $350 Lumber (No. 1 common) 20,000 board feet @ $0.12 Other components $26,600 Direct labor: Cutting

Job A500:
Direct materials:
Fabric FB70 180 bolts @ $350
Lumber (No. 1 common) 20,000 board feet @ $0.12
Other components $26,600
Direct labor:
Cutting Department 400 hours @ $10
Assembly Department 1,600 hours @ $8.75
Machine time:
Cutting Department 350 machine hours
Assembly Department 50 machine hours
Job B75:
Direct materials:
Fabric FB70 26 yards @ $350
Lumber (first and seconds) 2,200 board feet @ $0.12
Other components $3,236
Direct labor:
Cutting Department 70 hours @ $10
Assembly Department 240 hours @ $8.75
Machine time:
Cutting Department 90 machine hours
Assembly Department 15 machine hours

What is the effect on the cost of each proposed job if the mill switches to the sales-value-at-split-off method?

Effect on Job A500 the cost per board foot is increase thus cost increase by $fill in the blank 22 Effect on Job B75 the cost per board foot is increase thus cost increase by $fill in the blank 25

2. Calculate the plantwide overhead rate for the fabric plant. $fill in the blank 26 per hour

3. Calculate the amount of under- or overapplied overhead for the fabric plant. $fill in the blank 27 overapplied

4. Using the weighted average method, calculate the cost per bolt for Fabric FB70. $fill in the blank 29

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

Financial Accounting Objective Questions And Explanations

Authors: Irvin N. Gleim

7th Edition

0917539664, 978-0917539664

More Books

Students also viewed these Accounting questions

Question

1. Define the nature of interviews

Answered: 1 week ago

Question

2. Outline the different types of interviews

Answered: 1 week ago