jon order costing

Insert Draw Page Layout Formulas Data Review View Tell me hrecovered workbooks? Your recent changes were saved. Do you want to continue working where you fo D Job Order Costing 8 H precords of the actual cont of a special oor job, a Job Order Colt System has been developed a las applied at the rate of 50% of the direct labor cost er Costing Section uary 1, 2012, Don S began Job 2407 for the Clont, THE BIG CHILDREN STORE The for 4,000 customed lamps. The folowing set of transactions occurred from y until the job was completed: 5. Jan Purchased 6225 Lamp Kits @ $16.65 per Jan 4,225 sets of Lamp Kits were requisitioned 17-Jan Payrol of 570 Direct Labor Houm 50.70 per hour. 30 Jon Payroll of 620 Direct Labor Hoon @ $9.95 per hour. 30-Jan 3.990 lamps were completed and shipped. Al materials requisitioned on used or scrapped, and are a cost of nomal procesi Month End Overhead information Actual Variable Manufacturing Overhead $ 1,499 40 Actual Pued Manufacturing Overhead $ 30.623.45 Round SO Cost of Direct Material incurred in Manufacturing Job 2407 S 130 Cost of Odd Laber porno in Manufacturing Job 2407 5520 15. CO 13.00 Cost of Manufacturing Overhead Applad to Job 2407 (13.00 Gost of manufacturing nam 10 11 12 13 Insert Draw Page Layout Formulas Data Review View Tell me recovered workbooks? Your recent changes were saved. Do you want to continue working where you le B C D E F G H Dary 1, 20x2. Division S began Job 2407 for the Cient, THE BIG CHILDREN STORE. The d for 4,000 customized lamps. The following set of transactions occured from 5 until the job was completed: 5-Jan Purchased 4,225 Lamp Kits @ $16.85 per kt. 9 Jan 4,225 sets of Lamp Kes were requisitioned 17-Jan Payroll of 570 Direct Labor Hours @ $9.70 per hour. 30 Jan Payroll of 620 Direct Labor Hours $9.95 per hour 30-Jan 3.990 Samps were completed and shipped. Al materials requisitioned were used or scrapped, and are a cost of normal processing Month End Overhead Information Actual Variable Manufacturing Overhead $ 1.499.40 Actual Fixed Manufacturing Overhead $ 39,623.45 Round to two places SNOW Cost of Direct Material incurred in Manufacturing Job 2407 IS 70.340.25 (13.01) Cost of Direct Labor Incured in Manufacturing Job 2407 5629 S 11.698.00 1302 Cost of Manufactumg Overhead Applied to Job 2407 (13.03) Cost of manufacturing one lamp (13.04 10 11 12 sdy 13 A1 x x A B 0 F G H Standard Job Order Costing - Variance Analysis 13 14 15 16 24 Special order lamps are manufactured in division S. Because of the precise nature of the process a 25 standard cost system has been developed. The folowing standards are used for the special orders 25 27 28 35 Standards 36 Lamp Kits $ 16,000000 per lamp 37 Direct Labor 2.400000 per lamp 4 lampsht) 38 Variable Overhead 0.250000 per lamp 4 tamps/hr.) 39 - Fixed Overhead 10.000000 per lamp 46 Total $28.650000 47 ** Faxed overhead is based on expected production of 4,000 customized lamps each month 49 50 To keep records of the actual cost of a job, a Job Order Cost System has been developed Entries 57 are made to the Job Order System at actual cost (overhead is applied based on actual labor hours) 58 while entries are made to the accounting system at standard. Varance analysis is used to analyze the 59 differences 00 61 69 Job Order Costing Section 70 71 On January 1, 2012. Division began Job 1101 for the Clent. THE BIG CHILDREN STORE The 72 job called for 4,000 customized lamps. The following set of transactions occurred from 79 January Sunt the job was completed 80 81 82 Sjan Purchased 4,225 Lamp Kits 516 65 per 83 9-Jan 4.225 sets of Lamp Kits were requisitioned 90 17 Jan Payroll of 570 Direct Labor Houm 59.70 per hour 91 30 Jan Payroll of 620 Direct Labor Hours $9.95 per hour 92 30 Jan 3.992 ms were completed and shipped. Al matematoned 93 used or scrapped 101 102 103 104 105 100 107 to 109 110 14 Month End Ouesd Information Actual Variable Overhead ActualFixed Overhead $ 1.499.40 $ 39,623.45 7 B3 9 10 Ready 11 12 13 our recent changes were saved. Do you want to continue working where you left 121 + x fx A B C D E F G H TO K 3 4 5 6 7 How many Lamps were completed? 9 10 Note: Show favorable variances as negative numbers 11 3,992 lamps Round dolars to two places, SA 12 13 16 16 What was the total material price variance for the Lamp Kits purchased? 17 18 19 $ 2.594.00 (15.01) 21 What was the material usage variance for Lamp Kits? (15.02) 22 23 24 25 27 28 29 What was the direct labor effidency variance ? 30 (15.03) (15.04) 33 34 What was the direct laborate variance? 35 30 37 30 40 41 42 43 45 45 47 48 49 51 95 ESS 57 50 50 100 61 02 03 7 3 10 Ready 11 12 13 AutoSave OFT NE Home Insert Draw Page Layout Formulas Data Review View Tell me Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you le 4 x x A1 A B D E F G H 3 4 Note: Show favorablo variances as negative numbers 11 12 (16.01) 14 15 10 What was the variable overhead efficiency variance 7 19 20 24 22 259 What was the variable OH spending vananga? 26 27 16:02) 20 32 33 34 35 35 What is the food OH volume denominator variant 40 61 (16.03) 45 47 49 What the spending van? 50 53 (16.04) 55 38 32 60 61 02 50 To 7 72 10 12 Ready 13