Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pro Tire manufactures tres for all-terrain vehicles. Pro uses job costing and has a perpetual inventory system. On June 22, Pro received an order

image text in transcribedimage text in transcribedimage text in transcribed

Pro Tire manufactures tres for all-terrain vehicles. Pro uses job costing and has a perpetual inventory system. On June 22, Pro received an order for 190 TX Sires from ATV Corporation at a price of $70 each. The job, assigned number 298, was promised for July 10. After purchasing the materials, Pro began production on June 30 and incurred the following direct labor and direct materials costs in completing the order (Click the icon to view the costs.) Pro allocates manufacturing overhead to jobs on the basis of the relation between expected overhead costs ($418,000) and expected direct labor hours (22,000). Job 298 was completed on July 3 and shipped to ATV on July 5 Read the rents Requirement 1. Prepare a job cost record for Job 298. Calculate the predetermined overhead rate, then apply manufacturing overhead to the job. Begin by identifying the formula and computing the predetermined overhead rate anufactures tires for all-terrain vehicles. Pro uses job costing and has a perpetual inventory system. On June 22, Pro receive The job, assigned number 298, was promised for July 10. After purchasing the materials, Pro began production on June 30 ng the order: the icon to view es manufacturin Data table ed to ATV on Jul requirements hent 1. Prepare a the predetermine e help Labor Time Date Record No. Description Amount 6/30 1896 12 hours at $14 $ 168 7/3 1904 30 hours at $20 $ 600 Materials Date Requisition No. Description Amount 6/30 437 60 lbs. rubber at $16 $ 960 7/2 439 40 meters polyester fabric at $12 $ 480 7/3 73 501 100 meters steel cord at $10 $ 1,000 Print Done - X expected c nd computira Question 2, P3-60B (similar to) Part 1 of 6 HW O ires for all-terrain vehicles. Pro uses job costing and has a perpetual inventory system. On June 22 gned number 298, was promised for July 10. After purchasing the materials, Pro began production ew the costs.) uring overhead to jobs on the basis of the relation between expected overhead costs ($418,000) and July 5. Requirements re a job c 1. Prepare a job cost record for Job 298. mined ove 2. Calculate the total profit and the per-unit profit for Job 298. Print Done - X nula a

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

Step: 3

blur-text-image

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

Advanced Accounting

Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith

11th Edition

978-0132568968, 9780132568968

More Books

Students also viewed these Accounting questions

Question

What is a verb?

Answered: 1 week ago