{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T11:05:56-04:00", "answer_date": "2024-05-26 11:05:56", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1735970", "url": "\/study-help\/questions\/landen-corporation-uses-a-joborder-costing-system-at-the-beginning-1735970", "question_creation_date_js": "2024-05-26T11:05:56-04:00", "question_creation_date": "May 26, 2024 11:05 AM", "meta_title": "[Solved] Landen Corporation uses a job-order costi | SolutionInn", "meta_description": "Answer of - Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estim | SolutionInn", "meta_keywords": "landen,corporation,job-order,costing,system,beginning,year,company,made,estimates,direct,labor-hours", "question_title_h1": " Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support", "question_title": " Landen Corporation uses a job-order costing system. At the beginning of", "question_title_for_js_snippet": "Landen Corporation uses a job order costing system At the beginning of the year, the company made the following estimates Direct labor hours required to support estimated production Machine hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor hour Variable manufacturing overhead cost per machine hour 70,000 35,000 $ 210,000 $ 1 40 $ 2 80 During the year, Job 550 was started and completed The following information is available with respect to this job Direct materials Direct labor cost Direct labor hours Machine hours Required $ 215 $ 231 15 5 1 Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor hours as the allocation base Under this approach a Compute the plantwide predetermined overhead rate b Compute the total manufacturing cost of Job 550 c If Landen uses a markup percentage of 200 of its total manufacturing cost, what selling price would it establish for Job 550 2 Assume that Landen's controller believes that machine hours is a better allocation pase than direct labor hours Under this approach a Compute the plantwide predetermined overhead rate b Compute the total manufacturing cost of Job 550 c If Landen uses a markup percentage of 200 of its total manufacturing cost, what selling price would it establish for Job 550 (Round your intermediate calculations to 2 decimal places Round your Predetermined Overhead Rate answers to 2 decimal places and all other answers to the nearest whole dollar ) 1 Direct labor hours ", "question_description": "\"image", "transcribed_text": "Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 70,000 35,000 $ 210,000 $ 1.40 $ 2.80 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor cost Direct labor-hours Machine-hours Required: $ 215 $ 231 15 5 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? 2. Assume that Landen's controller believes that machine-hours is a better allocation pase than direct labor-hours. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? (Round your intermediate calculations to 2 decimal places. Round your Predetermined Overhead Rate answers to 2 decimal places and all other answers to the nearest whole dollar.) 1. Direct labor-hours:", "related_book": { "title": "Intermediate Accounting", "isbn": "978-1118159644, 9781118562185, 1118159640, 1118147294, 978-1118147290", "edition": "15th edition", "authors": "Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/253.jpg", "uri": "\/textbooks\/intermediate-accounting-15th-edition-253", "see_more_uri": "" }, "free_related_book": { "isbn": "979-8430877095", "uri": "\/textbooks\/accounting-ledger-incomes-and-expenses-tracker-log-book-1st-edition-979-8430877095-108002", "name": "Accounting Ledger Incomes And Expenses Tracker Log Book", "edition": "1st Edition" }, "question_posted": "2024-05-26 11:05:56", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/approximately-833-of-men-are-colorblind-you-survey-men-from", "description": "Approximately 8.33% of men are colorblind. You survey men from a large population until you find one who is colorblind. a. Explain in words what X is in this situation and what values it can take. b....", "stars": 3 }, { "url": "\/why-is-it-important-for-a-professional-accountant-to-understand", "description": "Why is it important for a professional accountant to understand the ethical trends discussed in this chapter?", "stars": 3.5 }, { "url": "\/study-help\/principles-and-practice-of-marketing\/what-do-you-think-is-the-main-reason-for-coop-1784712", "description": "What do you think is the main reason for Coop Danmarks antifood wastage initiatives: reducing Coops costs, increasing Coops income by selling food that would otherwise be wasted, or reinforcing Coops...", "stars": 3.5 }, { "url": "\/study-help\/psychology\/2-share-some-stories-from-your-own-life-as-examples-1984358", "description": "2. Share some stories from your own life as examples of excitement about a subject, making mistakes (and learning from them), and persistence and overcoming difficulties.", "stars": 3.5 }, { "url": "\/wet-steam-at-20bar-with-quality-of-0.97-see-problem-7-32", "description": "A wet steam at 20bar with a quality of 0.97 (see Problem 7.32) leaks through a defective steam trap and expands to a pressure of 1 atm. The process can be considered to take place in two stages: a...", "stars": 3 }, { "url": "\/study-help\/questions\/in-recent-years-there-has-been-some-movement-among-us-9861942", "description": "\"In recent years, there has been some movement among US corporations away from allowing a company s CEO to also be the chair of its board of directors. Which of the following is the most likely...", "stars": 3 }, { "url": "\/study-help\/questions\/a-company-issues-2000-shares-of-5-par-value-common-2282195", "description": "A company issues 2,000 shares of $5 par value common stock for $10 per share. Calculate the total amount of cash received from the issuance of stock and the additional paid-in capital.", "stars": 3 }, { "url": "\/study-help\/questions\/2-years-a-rancher-received-900-from-an-investment-that-999360", "description": "2) years, a rancher received $900 from an investment that earned 3% interest compounding annually. Using the table below, how much did the rancher invest? Express your answer to two (2) decimal...", "stars": 3 }, { "url": "\/study-help\/questions\/research-your-findings-on-the-issues-on-environmental-engineering-1000982", "description": "Research your findings on the issues on Environmental Engineering , What types of positions may be included in a modern safety and health team in those area, Certification specifications etc. ( Try...", "stars": 3 }, { "url": "\/study-help\/questions\/use-the-following-information-to-answer-questions-1213-below-999363", "description": "Use the following information to answer questions 12-13 below. It is now the beginning of January Sales are forecast at 100,000 units for January, 130,000 units for February, and 150,000 units for...", "stars": 3 }, { "url": "\/study-help\/questions\/untitled-17-google-x-inbox-ubc-ubc-stu-1005210", "description": "Untitled 17 Google X Inbox UBC UBC Stu UBC Course S UBC Canvas Assignm =Free Intr UBC Canvas Slides: E X Desmos G Booking New Tab C canvas.ubc.ca\/courses\/130366\/assignments\/1769231 * New Chrome...", "stars": 3 }, { "url": "\/study-help\/questions\/identifyandbriefly-describethestrengths-andweaknessesobserved-inboththe-alphaandthe-beta-cases-identify-and-discuss-1000557", "description": "Identifyandbriefly describethestrengths andweaknessesobserved inboththe Alphaandthe Beta cases. Identify and discuss two dimensions\/types of challenges\/barriers related to the technology...", "stars": 3 }, { "url": "\/study-help\/questions\/the-accountant-for-the-firm-owned-by-vincent-sutton-prepares-8416773", "description": "The accountant for the firm owned by Vincent Sutton prepares financial statements at the end of each month. Transactions: a. Sutton invested $147,000 in cash to start the business. b. Paid $4,700 for...", "stars": 3 }, { "url": "\/figure-displays-12.0-v-battery-3-four-uncharged-capacitors", "description": "Figure displays a 12.0 V battery 3 four uncharged capacitors of capacitances C1 = 4.00F, C2 = 6.00F, and C3 = 3.00F. The switch is thrown to the left side until capacitor 1 is fully charged. Then the...", "stars": 3 }, { "url": "\/study-help\/business-statistics\/smoking-by-students-and-their-families-how-are-the-smoking-1682620", "description": "Smoking by students and their families. How are the smoking habits of students related to the smoking habits of their close family members? Here is a two-way table from a survey of male students in...", "stars": 3 }, { "url": "\/study-help\/business-statistics\/smoking-by-parents-of-preschoolers-how-are-the-smoking-habits-1682621", "description": "Smoking by parents of preschoolers. How are the smoking habits of parents of preschoolers related to the education of the father? Here is a two-way table from a survey of the parents of preschoolers...", "stars": 3 }, { "url": "\/study-help\/business-statistics\/firearm-deaths-here-are-counts-from-a-study-of-all-1682623", "description": "Firearm deaths. Here are counts from a study of all firearm-related deaths in Wisconsin between 2000 and 2002 for children and youth under the age of 25 where the type of firearm used was known. We...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/given-the-following-calculate-the-companys-days-working-capital-revenue-1735969", "next": "\/study-help\/questions\/question-5-the-telephone-consumer-protection-act-prohibits-all-automated-1735971" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": " Landen Corporation uses a job-order costing system. At the beginning of", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/landen-corporation-uses-a-joborder-costing-system-at-the-beginning-1735970" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }}