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please answer these questions Chung Corporation uses a job order costing system. The ir predetermined over head rate is 40 % of direct labor costs.

please answer these questions
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Chung Corporation uses a job order costing system. The ir predetermined over head rate is 40 % of direct labor costs. The following cost information is available for the five jobs worked on during the 5. current year. Job Materials Time $89,700 $68,400 $57,200 $60,800 $72,200 $25,000 $24,000 $26,000 $25,000 $22,000 101 102 103 104 105 Complete the Job Cost Sheets for each job: Job No. 101 Job No. 102 Job No. 103 Materials Materials Materials Labor Labor Labor Overhead Overhead Overhead Total Cost Total Cost Total Cost Status Sold In Process Status Status Finished Job No. 104 Job No. 105 Materials Materials Labor Labor Overhead Overhead Total Cost Total Cost Status Finished Status Sold What is the amount in each of these accounts at the end of the year? Work in process Finished goods Cost of goods sold EXP, Inc. had the following activities during its most recent period of operations: 6. 3 Purchased raw materials on account for $27,000 S Raw materials requisitioned: $15,500 direct and $2,200 indirect 24 Factory payroll totaled $28,000, including $10,300 indirect labor 29 Paid other actual overhead costs totaling $16,300 cash Oct. 30 Applied overhead at 50% of direct labor costs 30 Finished and transferred jobs totaling $48, 200 30 Jobs costing $39,700 were sold on credit for $86,200 Prepare journal entries to record the above transactions. JOURNAL PAGE POST CREDIT DATE DESCRIPTION DEBIT REF 3 10 11 12 13 14 15 16 17 18 19 20 21 2 23 24 25 27 29 30 31 31 7. The production of one unit of Product BJM used $84.65 of direct materials and $32.50 of direct labor. The unit sold for $280.00 and was assigned overhead at a rate of 60 % of labor costs. What is the gross profit per unit? 8. Chen Service applied overhead on the basis of direct labor costs during the current year. Overhead applied was $157,800 while a ctual overhead incurred was $149,850. If this difference is consider ed as NOT material, journalize an entry to remove the differ ence. POST REF. DEBIT CREDIT DATE DESCRIPTION If, instead, the actual overhead incurred was $23,000 and the difference would be considered material, explain how the difference should be ta ken care of. 9. Selected information for Singh Corporation's budget: Estimated factory overhead $272,000 Estimated direct labor hours 35,097 hours Estimated machine hours 63,256 hours Estimated direct labor cost $70,649 Actual factory overhead incurred during the year $268,900 Pre-determined overhead rate Overhead rate basis: Direct Labor hours Direct Labor cost Machine hours If actual machine hours were 62,985, what is the amount of over-or under-applied overhead? Make sure to indicate if it is over- or under-applied

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