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Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1 , there were two jobs in process: Job 93 with a beginning balance of $8,820 and Job 94 with a beginning balance of $7,200. Jagjit applies overhead at the rate of $10 per direct labor hour. Direct labor wages average $17 per hour. Data on August cos for all jobs are as follows: During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Required: 1. Calculate the number of direct labor hours that were worked on each job in August. 2. Calculate the overhead applied to each job during the month of August. Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Ilberg Company provided the following actual information: Ilberg uses normal costing and applies overhead at the rate of 78% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,945,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: 1. Calculate the overhead variance for the year. $ ? 2. Dispose of the djusting Cost of Goods Sold. Adjusted COGS: $ Calculating the Predetermined Overhead Rate, Applying Overhead to Production At the beginning of the year, Debion Company estimated the following: Debion uses normal costing and applies overhead on the basis of direct labor hours. For the month of March, direct labor hours were 7,300. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Required: 1. Calculate the predetermined overhead rate for Debion. Round your answer to the nearest cent. $ per direct labor hour 2. Calculate the overhead applied to production in March. Round your answer to the nearest dollar. $ Calculating the Predetermined Overhead Rate, Applying Overhead to Production At the beginning of the year, Debion Company estimated the following: Debion uses normal costing and applies overhead on the basis of direct labor hours. For the month of March, direct labor hours were 7,300. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Required: 1. Calculate the predetermined overhead rate for Debion. Round your answer to the nearest cent. $ per direct labor hour 2. Calculate the overhead applied to production in March. Round your answer to the nearest dollar. $ Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Ilberg Company provided the following actual information: Ilberg uses normal costing and applies overhead at the rate of 78% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,945,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: 1. Calculate the overhead variance for the year. $ ? 2. Dispose of the djusting Cost of Goods Sold. Adjusted COGS: $ At the beginning of the year, Glaser Company estimated the following: Glaser uses departmental overhead rates. In the assembly department, overhead is applied on the basis of direct labor hours. In the testing department, overhead is applied on the basis of machine hours. Actual data for the month of March are as follows: Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate $ per direct labor hour Testing department overhead rate $ per machine hour 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separate for the acquisition and use of the bulldozer. Treat the bulldozer's depreciation, fuel, maintenance, etc. as . Divide this by the anticipated annual hours of use to arrive at th Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Ilberg Company provided the following actual information: Ilberg uses normal costing and applies overhead at the rate of 78% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,945,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: 1. Calculate the overhead variance for the year. $ 2. Dispose of the overhead variance by adjusting Cost of Goods Sold. Adjusted COGS: Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Ilberg Company provided the following actual information: Ilberg uses normal costing and applies overhead at the rate of 78% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,945,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: 1. Calculate the overhead variance for the year. $ 2. Dispose of the overhead variance by adjusting Cost of Goods Sold. Adjusted COGS: Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1 , there were two jobs in process: Job 93 with a beginning balance of $8,820 and Job 94 with a beginning balance of $7,200. Jagjit applies overhead at the rate of $10 per direct labor hour. Direct labor wages average $17 per hour. Data on August cos for all jobs are as follows: During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Required: 1. Calculate the number of direct labor hours that were worked on each job in August. 2. Calculate the overhead applied to each job during the month of August. At the beginning of the year, Glaser Company estimated the following: Glaser uses departmental overhead rates. In the assembly department, overhead is applied on the basis of direct labor hours. In the testing department, overhead is applied on the basis of machine hours. Actual data for the month of March are as follows: Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate $ per direct labor hour Testing department overhead rate $ per machine hour Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate $ per direct labor hour Testing department overhead rate $ per machine hour 2. Calculate the overhead applied to production in each department for the month of March. If required, round your answers to nearest whole value. 3. By how much has each department's overhead been overapplied? Enter the amount and then select either "Overapplied" or "Underapplied". If applicable, enter overapplied amounts beginning with a minus (-) sign. 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate $ per direct labor hour Testing department overhead rate $ per machine hour 2. Calculate the overhead applied to production in each department for the month of March. If required, round your answers to nearest whole value. 3. By how much has each department's overhead been overapplied? Enter the amount and then select either "Overapplied" or "Underapplied". If applicable, enter overapplied amounts beginning with a minus (-) sign. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separat ? for the acquisition and use of the bulldozer. Treat the bulldozer's depreciation, fuel, maintenance, etc. as ie anticipated annual hours of use to arrive at the Identify each of the following types of businesses as either job-order or process costing. a. Hospital services b. Custom cabinet making c. Toy manufacturing d. Soft-drink bottling e. Airplane manufacturing (e.g., 767s) f. Personal computer assembly g. Furniture making (e.g., computer desks sold at discount stores) h. Custom furniture making i. Dental services j. Paper manufacturing k. Nut and bolt manufacturing I. Auto repair m. Architectural services n. Landscape design services o. Flashlight manufacturing Identify each of the following types of businesses as either job-order or process costing. a. Hospital services b. Custom cabinet making c. Toy manufacturing d. Soft-drink bottling e. Airplane manufacturing (e.g., 767s) f. Personal computer assembly g. Furniture making (e.g., computer desks sold at discount stores) h. Custom furniture making i. Dental services j. Paper manufacturing k. Nut and bolt manufacturing I. Auto repair m. Architectural services n. Landscape design services o. Flashlight manufacturing 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separate for the acquisition and use of the bulldozer. Treat the bulldozer's depreciation, fuel, maintenance, etc. as . Divide this by the anticipated annual hours of use to arrive at th The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separat ? for the acquisition and use of the bulldozer. Treat the bulldozer's depreciation, fuel, maintenance, etc. as ie anticipated annual hours of use to arrive at the Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1 , there were two jobs in process: Job 93 with a beginning balance of $8,820 and Job 94 with a beginning balance of $7,200. Jagjit applies overhead at the rate of $10 per direct labor hour. Direct labor wages average $17 per hour. Data on August cos for all jobs are as follows: During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Required: 1. Calculate the number of direct labor hours that were worked on each job in August. 2. Calculate the overhead applied to each job during the month of August. Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Ilberg Company provided the following actual information: Ilberg uses normal costing and applies overhead at the rate of 78% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,945,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: 1. Calculate the overhead variance for the year. $ ? 2. Dispose of the djusting Cost of Goods Sold. Adjusted COGS: $ Calculating the Predetermined Overhead Rate, Applying Overhead to Production At the beginning of the year, Debion Company estimated the following: Debion uses normal costing and applies overhead on the basis of direct labor hours. For the month of March, direct labor hours were 7,300. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Required: 1. Calculate the predetermined overhead rate for Debion. Round your answer to the nearest cent. $ per direct labor hour 2. Calculate the overhead applied to production in March. Round your answer to the nearest dollar. $ Calculating the Predetermined Overhead Rate, Applying Overhead to Production At the beginning of the year, Debion Company estimated the following: Debion uses normal costing and applies overhead on the basis of direct labor hours. For the month of March, direct labor hours were 7,300. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Required: 1. Calculate the predetermined overhead rate for Debion. Round your answer to the nearest cent. $ per direct labor hour 2. Calculate the overhead applied to production in March. Round your answer to the nearest dollar. $ Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Ilberg Company provided the following actual information: Ilberg uses normal costing and applies overhead at the rate of 78% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,945,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: 1. Calculate the overhead variance for the year. $ ? 2. Dispose of the djusting Cost of Goods Sold. Adjusted COGS: $ At the beginning of the year, Glaser Company estimated the following: Glaser uses departmental overhead rates. In the assembly department, overhead is applied on the basis of direct labor hours. In the testing department, overhead is applied on the basis of machine hours. Actual data for the month of March are as follows: Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate $ per direct labor hour Testing department overhead rate $ per machine hour 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separate for the acquisition and use of the bulldozer. Treat the bulldozer's depreciation, fuel, maintenance, etc. as . Divide this by the anticipated annual hours of use to arrive at th Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Ilberg Company provided the following actual information: Ilberg uses normal costing and applies overhead at the rate of 78% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,945,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: 1. Calculate the overhead variance for the year. $ 2. Dispose of the overhead variance by adjusting Cost of Goods Sold. Adjusted COGS: Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Ilberg Company provided the following actual information: Ilberg uses normal costing and applies overhead at the rate of 78% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,945,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: 1. Calculate the overhead variance for the year. $ 2. Dispose of the overhead variance by adjusting Cost of Goods Sold. Adjusted COGS: Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1 , there were two jobs in process: Job 93 with a beginning balance of $8,820 and Job 94 with a beginning balance of $7,200. Jagjit applies overhead at the rate of $10 per direct labor hour. Direct labor wages average $17 per hour. Data on August cos for all jobs are as follows: During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process. Required: 1. Calculate the number of direct labor hours that were worked on each job in August. 2. Calculate the overhead applied to each job during the month of August. At the beginning of the year, Glaser Company estimated the following: Glaser uses departmental overhead rates. In the assembly department, overhead is applied on the basis of direct labor hours. In the testing department, overhead is applied on the basis of machine hours. Actual data for the month of March are as follows: Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate $ per direct labor hour Testing department overhead rate $ per machine hour Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate $ per direct labor hour Testing department overhead rate $ per machine hour 2. Calculate the overhead applied to production in each department for the month of March. If required, round your answers to nearest whole value. 3. By how much has each department's overhead been overapplied? Enter the amount and then select either "Overapplied" or "Underapplied". If applicable, enter overapplied amounts beginning with a minus (-) sign. 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate $ per direct labor hour Testing department overhead rate $ per machine hour 2. Calculate the overhead applied to production in each department for the month of March. If required, round your answers to nearest whole value. 3. By how much has each department's overhead been overapplied? Enter the amount and then select either "Overapplied" or "Underapplied". If applicable, enter overapplied amounts beginning with a minus (-) sign. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separat ? for the acquisition and use of the bulldozer. Treat the bulldozer's depreciation, fuel, maintenance, etc. as ie anticipated annual hours of use to arrive at the Identify each of the following types of businesses as either job-order or process costing. a. Hospital services b. Custom cabinet making c. Toy manufacturing d. Soft-drink bottling e. Airplane manufacturing (e.g., 767s) f. Personal computer assembly g. Furniture making (e.g., computer desks sold at discount stores) h. Custom furniture making i. Dental services j. Paper manufacturing k. Nut and bolt manufacturing I. Auto repair m. Architectural services n. Landscape design services o. Flashlight manufacturing Identify each of the following types of businesses as either job-order or process costing. a. Hospital services b. Custom cabinet making c. Toy manufacturing d. Soft-drink bottling e. Airplane manufacturing (e.g., 767s) f. Personal computer assembly g. Furniture making (e.g., computer desks sold at discount stores) h. Custom furniture making i. Dental services j. Paper manufacturing k. Nut and bolt manufacturing I. Auto repair m. Architectural services n. Landscape design services o. Flashlight manufacturing 4. Calculate the balance in Work in Process on August 31. The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separate for the acquisition and use of the bulldozer. Treat the bulldozer's depreciation, fuel, maintenance, etc. as . Divide this by the anticipated annual hours of use to arrive at th The work in process balance on August 31 is $ 5. What is the price of Job 93 ? The price of Job 93 is $ 6. Conceptual Connection: Part way through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $35,700 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. Complete the statement below that outlines how the bulldozer's cost could be applied to only those jobs that need the larger equipment. Create a separat ? for the acquisition and use of the bulldozer. Treat the bulldozer's depreciation, fuel, maintenance, etc. as ie anticipated annual hours of use to arrive at the