Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

question 1 question 2 question 3 question 4 question 5 The Gister Company, a machine tooling firm, has several plants. One plant, located in St.

question 1
image text in transcribed
image text in transcribed
question 2
image text in transcribed
image text in transcribed
question 3
image text in transcribed
image text in transcribed
question 4
image text in transcribed
question 5
image text in transcribed
The Gister Company, a machine tooling firm, has several plants. One plant, located in St. Cloud, Minnesota, uses a job order costing system for its batch production processes. The St Cloud plant has two departments through which most jobs pass. Plant-wide overhead, which includes the plant manager's salary, accounting personnel, cafeteria, and human resources, is budgeted at $200.000 During the past year, actual plantwide overhead was $183,000, Each department's overhead consists primarily of depreciation and other machine-related expenses. Selected budgeted and actual data from the St Cloud plant for the past year are as follows. Department A Departments $ 120,000 125,000 Sudgeted department overhead (excludes plantide overhead) Actual department overhead Expected total activity: Direct labor hours Machine-hours Actual activity: Direct labor hours Machine-hours 5 388,000 323,000 10.000 44,000 38,000 15,800 40,00 15,500 8,600 45,000 For the coming year, the accountants at the St Cloud plant are in the process of helping the sales force create bids for several jobs Projected data pertaining only to job no 110 are as follows 517.000 33,000 11,000 Direct materials Direct labor costs Department A (2,200 h) Department B (500 hr) Machine-hours projected: Department Department B Units produced 150 1,200 11,000 Required: 6-1. Assume the St Cloud plant uses a single plantwide overhead rate to assign all overhead (plantwide and department) costs to jobs Use expected total direct labor hours to compute the overhead rate. 0-2 What is the expected cost per unit produced for job no 110? Complete this question by entering your answers in the tabs below. For the coming year the accountants at the St. Cloud plant are in the process of helping the sales force create bids for several jobs. Projected data pertaining only to job no. 110 are as follows $17,000 33,000 11.000 Direct materials Direct labor cost: Department A (2.200 hr) Department B (500 hrs Machine-hours projected Department A Department B Units produced 150 1.200 11,000 Required: 6-1. Assume the St. Cloud plant uses a single plantwide overhead rate to assign all overhead (plantwide and department costs to jobs Use expected total direct labor hours to compute the overhead tate. 0-2. What is the expected cost per unit produced for job no. 110? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Assume the St. Cloud plant uses a single plantwide overhead rate to assign all overhead (plantwide and department) costs to jobs. Use expected total direct labor hours to compute the overhead rate (Round your answer to 2 decimal places) Overhead rate per direct labor hour RoqA2 > The Gilster Company, a machine tooling firm, has several plants. One plant, located in St. Cloud, Minnesota, uses a job order costing system for its batch production processes. The St Cloud plant has two departments through which most jobs pass. Plant-wide overhead, which includes the plant manager's salary, accounting personnel, cafeteria, and human resources, is budgeted at $200,000. During the past year, actual plantwide overhead was $183,000 Each department's overhead consists primarily of depreciation and other machine-related expenses Selected budgeted and actual data from the St Cloud plant for the past year are as follows Department Department $ 120,000 $ 305,000 125,000 323,000 Budgeted department overhead (excludes plantwide overhead Actual department overhead Expected total activity: Direct labor hours Machine-hours Actual activity: Direct labor hours Machine hours 38.000 15.000 10,000 44,000 40,000 15,500 3,600 46,000 For the coming year, the accountants at the St Cloud plant are in the process of helping the sales force create bids for several jobs. Projected data pertaining only to job no. 110 are as follows 517,000 33,000 11,000 Direct materials Direct labor cost Department A (2,200 h) Department (se hr) Machine-hours projected: Department A Departments Units produced 150 1,200 11.ee Assume the St. Cloud plant uses three separate overhead rates to assign overhead costs to jobs. b-1. Find the plant wide overhead rate by using expected machine hours b-2. Find the department overhead rate using expected machine hours for Department A and Department B. b-3. Calculate the projected manufacturing costs per unit for job 110 using the three separate rates computed in b-1 and 5-2 Complete this question by entering your answers in the tabs below. For the coming year, the accountants at the St. Cloud plant are in the process of helping the sales force create bids for several Jobs. Projected data pertaining only to job no 110 are as follows 517,000 33,000 Direct materials Direct labor cost Department A (2.200 h) Department (500 hr) Machine-hours projected: Department A Departments Units produced 11,000 150 1.200 11.000 Assume the St Cloud plant uses three separate overhead rates to assign overhead costs to jobs. b-1. Find the plant wide overhead rate by using expected machine hours. -2 Find the department overhead rate using expected machine hours for Department A and Department B. b-3. Calculate the projected manufacturing costs per unit for job 110 using the three separate rates computed in b-1 and 5-2 Complete this question by entering your answers in the tabs below. Red B1 Reg 2 Reg B3 Find the plant wide overhead rate by using expected machine hours. (Round your answer to 2 decimal places.) Plantwide overhead rate per machine hour Req B2 > The Gister Company, a machine tooling firm, has several plants. One plant, located in St. Cloud, Minnesota, uses a job order costing system for its batch production processes. The St Cloud plant has two departments through which most jobs pass. Plant wide overhead, which includes the plant manager's salary, accounting personnel cafeteria, and human resources, is budgeted at $200 000. During the past year, actual plantwide overhead was $183,000. Each department's overhead consists primarily of depreciation and other machine-related expenses. Selected budgeted and actual data from the St. Cloud plant for the past year are as follows Department Departments Budgeted department overhead (excludes plantwide overhead) $ 120,000 $ 308.000 Actual department overhead 125.000 323,000 Expected total activity Direct labor hours 38.000 10,000 Machine-hours 15,000 44,000 Actual activity: Direct labor hours 40,000 3,600 Machine hours 15,500 45,000 For the coming year, the accountants at the St Cloud plant are in the process of helping the sales force create bids for several jobs. Projected data pertaining only to job no. 110 are as follows. $17,000 33.000 11,000 Direct materials Direct Lahor costi Department (2.200 he) Department (500 hr) Machine-hour's projected: Department Department Units produced 150 1.200 11,000 c-1. The sales policy at the St. Cloud plant dictates that job bids be calculated by adding 26 percent to total manufacturing costs. What would be the bid for job no. 10 using the overhead rate from parta? c-2. The sales policy at the St Cloud plant dictates that job bids be calculated by adding 26 percent to total manufacturing costs. What would be the bid for job no 110 using the overhead rate from part b? c-3. Which of the overhead allocation methods would you recommend? Complete this question by entering your answers in the tabs below. . Lycos. COLLUCORIS OLE OLLU POLE PULSMIC SIC WILEUCOLE LUU several jobs Projected data pertaining only to job no. 110 are as follows $17,000 33,000 11,000 Direct materials Direct labor costi Department A (2,200 hr) Department 8 (500 hr) Machine-hours projected Department Department units produced 150 1.200 11,000 c-1. The sales policy at the St. Cloud plant dictates that job bids be calculated by adding 26 percent to total manufacturing costs. What would be the bid for job no 110 using the overhead rate from parta? c-2. The sales policy at the St. Cloud plant dictates that job bids be calculated by adding 26 percent to total manufacturing costs. What would be the bid for job no. 110 using the overhead rate from part b? c-3. Which of the overhead allocation methods would you recommend? Complete this question by entering your answers in the tabs below. Reg C Reg C2 ReqC3 The sales policy at the St. Cloud plant dictates that job bids be calculated by adding 26 percent to total manufacturing costs. What would be the bid for job no. 110 using the overhead rate from part az (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Bid price FI ReqC2 > The Gilster Company, a machine tooling firm, has several plants. One plant, located in St. Cloud, Minnesota, uses a job order costing system for its batch production processes. The St. Cloud plant has two departments through which most jobs pass. Plant-wide overhead, which includes the plant manager's salary, accounting personnel, cafeteria, and human resources, is budgeted at $200,000 During the past year, actual plantwide overhead was $183,000. Each department's overhead consists primarily of depreciation and other machine-related expenses. Selected budgeted and actual data from the St. Cloud plant for the past year are as follows: Department A Departments Budgeted department overhead (excludes plantwide overhead) $ 120,000 $ 300,000 Actual department overhead 125,000 Expected total activity: 10,000 Machine-hours 15,000 Actual activity Direct labor hours 40,000 3,600 Machine-hours 15.500 46,000 323,000 Direct Labor hours 38.00 For the coming year, the accountants at the St Cloud plant are in the process of helping the sales force create bids for several jobs Projected data pertaining only to job no. 110 are as follows. $17,000 33,000 11,000 Direct materiais Direct Iabor cost: Department A (2.200 hr) Department (500 h) Machine-hours projected Department Departments Units produced 150 11,000 d. Compute the under-or overapplied overhead for the St. Cloud plant for the year. (Round your intermediate calculations to 2 decimal places.) The Glister Company, a machine tooling firm, has several plants One plant, located in St Cloud, Minnesota, uses a job order costing system for its batch production processes. The St Cloud plant has two departments through which most Jobs pass. Plant-wide overhead, which includes the plant manager's salary, accounting personnel, cafeteria, and human resources, is budgeted at $200.000. During the past year, actual plantwide overhead was $183,000 Each department's overhead consists primarily of depreciation and other machine-related expenses Selected budgeted and actual data from the St Cloud plant for the past year are as follows. Department A Departments $ 120.000 125,000 $300,000 323.000 Budgeted department overhead (excludes plantede overhead) Actual department overhead Expected total activity: Direct Labor hours Machine-hour's Actual activity: Direct labor hours Hachine-hours 38,000 15.000 10,000 44,000 40,000 15.500 8,600 46.00 For the coming year, the accountants at the St. Cloud plant are in the process of helping the sales force create bids for several jobs. Projected data pertaining only to job no 110 are as follows $17.000 33.000 11,000 Direct materials Direct Labor cost Department A (2.200 hr) Department (500 h) Machine-hours projected: Department Department Units produced 150 1.200 11.000 f. Would your response to parte change if the St. Cloud plant could use the facilities necessary to produce parts for job no: 110 for another job that could earn an incremental profit of $17,000? Incremental proliteamed by producing the other job Incremental cost of buying the parts from the subcontractor increase in total profits

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 and Managerial Accounting the basis for business decisions

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

16th edition

0077664078, 978-0077664077, 78111048, 978-0078111044

More Books

Students also viewed these Accounting questions