Pigot Corporation uses job costing and has two production departments, M and A. Budgeted manufacturing costs...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6657d330751ab_7286657d3307007f.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6657d330b37b3_7286657d330ae7d9.jpg)
Transcribed Image Text:
Pigot Corporation uses job costing and has two production departments, M and A. Budgeted manufacturing costs for the year are as follows: Direct materials Direct labor Dept. M Dept. A $707,000 $107,000 207,000 814,000. Factory overhead 621,000 407,000 The actual direct materials and direct labor costs charged to Job. No. 432 during the year were as follows: Direct materials $37,000 Direct labor: Department M Department A $15,000 19,000 34,000 Pigot applies manufacturing overhead to production orders on the basis of direct labor cost using departmental rates predetermined at the beginning of the year based on the annual budget. The total cost associated with Job. No. 432 for the year should be: Multiple Choice $105,000. $88,500. Pigot Corporation uses job costing and has two production departments, M and A. Budgeted manufacturing costs for the year are as follows: Direct materials Direct labor Dept. M Dept. A $707,000 $107,000 207,000 814,000. Factory overhead 621,000 407,000 The actual direct materials and direct labor costs charged to Job. No. 432 during the year were as follows: Direct materials $37,000 Direct labor: Department M Department A $15,000 19,000 34,000 Pigot applies manufacturing overhead to production orders on the basis of direct labor cost using departmental rates predetermined at the beginning of the year based on the annual budget. The total cost associated with Job. No. 432 for the year should be: Multiple Choice $105,000. $88,500.
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Equity Securities Entries Capriati Corporation made the following cash purchases of securities during 2010, which is the first year in which Capriati invested in securities. 1. On January 15,...
-
The management of an organization performs several broad functions. They are: (a) planning, directing and motivating, and selling. (b) planning, directing and motivating, and controlling. (c)...
-
Classify each item as an operating, investing, or financing activity. Assume all items involve cash unless there is information to the contrary. (a) Purchase of equipment. (b) Sale of building. (c)...
-
Q3. Consider the unadjusted trial balance of Pale Ale Ltd. at October 31, 2019, and the related year-end adjustment data. Pale Ale Inc. Trial Balance October 31, 2019 Account Debit Credit Cash $...
-
On July 1, 2023, the beginning of its fiscal year, Ridgedale County recorded gross property tax levies of $4,400,000. The county estimated that 2 percent of the taxes levied would be uncollectible....
-
The US dollar has been the world's reserve currency since the Bretton Woods agreement in 1944. The dollar's share of global reserves has declined in recent years from 73% in 2001 to about 59%...
-
Solve the system of equations. 4x + 12 y = -12 -x-3y=3 3 2
-
5-year Metalastan sovereign hard currency bonds yield 7.50% or 500 bps. more than comparable 5-year US Treasury bonds. You are contemplating investing in an exchange-traded fund (ETF) that replicates...
-
Discuss the impacts our food purchases may have on the environment and economy. Discuss two advantages to purchasing food items that are locally sourced versus those shipped from other areas of the...
-
2. Imagine that a layout plan has been created for a business with 5 departments of equal size to each other. The relations between the departments are given in the table below.Dec. The relationship...
-
The Rolins Company has office employees and shipping emnployees. A summary of their earnings and deductions for the week ended June 14, 2013, is shown below. Record the June 14 payroll and the entry...
-
An asset costs 15,000, has a residual value of 1,000 and an estimated useful life of five years. Using the straight-line method of depreciation, what is the assets net book value after three years?
-
An asset costs 15,000, has a residual value of 1,000 and an estimated useful life of five years. Using the reducing balance method and a 40 percent rate per annum, what is the profit or loss made in...
-
A small business has the following balances in its books as at 1 April 2007: On 30 September 2007 one of the old vehicles, which was purchased for \($12,000\) (at cost) on 1 August 2005, was accepted...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App