Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production

image text in transcribed

Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Machining Finishing 19,000 12,000 2,000 8,000 $ 136,800 $69,600 $ 1.80 $ 3.20 During the current month the company started and finished Job K928. The following data were recorded for this job: Job K928: Machine-hours Direct labor-hours Direct materials Direct labor cost Machining Finishing 90 10 30 50 $775 $ 415 $ 630 $1,050 The total job cost for Job K928 is closest to: (Round your intermediate calculations to 2 decimal places.)

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

Audit And Management Of The Company

Authors: Trésor Ilunga KAMPELA, Bernard KAYIMBW MANETA

1st Edition

6205405253, 978-6205405253

More Books

Students also viewed these Accounting questions