Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need step by step sloution for each answersa b c Slower Company uses a job-order cost system in each of its two manufacturing departments. Manufacturing

Need step by step sloution for each answersa b c

image text in transcribed
Slower Company uses a job-order cost system in each of its two manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labour cost in Department A and machine hours in Department B. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year: Department A B Manufacturing overhead .. $1,056,000 $840,000 Direct labour Cost.... 264,000 600,000 Direct labour hours 12,000 40,000 Machine hours ..... 75,000 84,000 During January, the job cost sheet showed the following costs and production data: Jobs 14 15 Direct materials used $34,000 $31,000 Direct labour cost... 24,000 25,500 Manufacturing overhead incurred. 65,000 35,000 Direct labour hours 2,000 1,700 Machine hours .. 5,000 4,000 Instructions a) Calculate the predetermined overhead rate for each department. (4 points) b) Calculate the total manufacturing cost assigned to jobs 14 and 15 in January. (4 points) C) What is the purpose of job cost accounting? (2 points) Write your 3 responses in the space provided below

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_2

Step: 3

blur-text-image_3

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

Authors: Carl S Warren, James M Reeve, Jonathan Duchac

12th Edition

0538478519, 9780538478519

More Books

Students also viewed these Accounting questions

Question

Personal role: This consists of service to family and friends.

Answered: 1 week ago