Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3: The Fasano Company uses a job-costing system at its Dover, Delaware, plant. The plant has a machining department and a finishing department.

image text in transcribed

Question 3: The Fasano Company uses a job-costing system at its Dover, Delaware, plant. The plant has a machining department and a finishing department. Fasano uses normal costing with two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department with machinehours as the allocation base, and the finishing department with direct manufacturing labor costs as the allocation base). The 2011 budget for the plant is as follows: Manufacturing overhead costs Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Required: Machining Department $10,660,000 $ 940,000 36,000 205,000 Finishing Department $7,372,000 $3,800,000 145,000 32,000 1. What is the budgeted manufacturing overhead rate in the machining department? In the finishing department? 2. During the month of January, the job-cost record for Job 431 shows the following: Compute the total manufacturing overhead cost allocated to Job 431. Direct materials used Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Machining Department $15,500 $ 400 50 130 Finishing Department $5,000 $1,1,00 50 520 20

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

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav

14th Edition

978-0132960649, 132960648, 132109174, 978-0132109178

More Books

Students also viewed these Accounting questions

Question

Evaluate the integral, if it exists. Jo y(y + 1) dy

Answered: 1 week ago