The following information is available for completed Job No.
404: Direct materials, $60,000; direct labor, $80,000;...
The following information is available for completed Job No.
404: Direct materials, $60,000; direct labor, $80,000; indirect
labor, $10,000; manufacturing overhead, $120,000; units produced,
6,000; units sold, 5,000. Based on this information, the cost of
finished goods on hand for this job is closest to
Marcelino Co.'s March 31 inventory of raw materials is $80,000.
Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $80,000.
Raw materials purchases in April are $500,000, and factory payroll
cost in April is $363,000. Overhead costs incurred in April are:
indirect materials, $50,000; indirect labor, $23,000; factory rent,
$32,000; factory utilities, $19,000; and factory equipment
depreciation, $51,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $635,000 cash in April.
Costs of the three jobs worked on in April follow. Job 306 Job...
Required information
[The following information applies to the questions displayed
below.]
Marcelino Co.'s March 31 inventory...
Required information
[The following information applies to the questions displayed
below.]
Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw
materials purchases in April are $500,000, and factory payroll cost
in April is $363,000. Overhead costs incurred in April are:
indirect materials, $50,000; indirect labor, $23,000; factory rent,
$32,000; factory utilities, $19,000; and factory equipment
depreciation, $51,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $635,000 cash in April.
Costs of...
Yellow Manufacturing completed Job No. B14 during 2012. The job
cost sheet listed the following:
Direct...
Yellow Manufacturing completed Job No. B14 during 2012. The job
cost sheet listed the following:
Direct
materials $44,000
Direct
labor $24,000
Manufacturing overhead
applied $16,000
Units
produced 3,000
units
Units
sold 1,800
units
How much is the cost of the finished goods on hand from this
job?
A
$84,000
B
$50,400
C
$33,600
D
$40,800
1.)
The following company
information is available for March. The direct materials price
variance is:
...
1.)
The following company
information is available for March. The direct materials price
variance is:
Direct materials
purchased and used
3,400 feet @ $75 per
foot
Standard costs for
direct materials for March production
3,500 feet @ $73 per
foot
$500 favorable.
$6,800 unfavorable.
$7,000 unfavorable.
$6,800 favorable.
$7,000 favorable.
2.)
Georgia, Inc. has collected the
following data on one of its products. The direct materials
quantity variance is:
Direct materials
standard (3 lbs @ $1/lb)
$ 3...
The accounting records of Omar Company contained the following
information for last year:
Beginning
Ending
Direct...
The accounting records of Omar Company contained the following
information for last year:
Beginning
Ending
Direct materials inventory........................
$9,000
$7,000
Work in process inventory.......................
$17,000
$31,000
Finished goods inventory........................
$10,000
$15,000
Manufacturing costs incurred
Direct materials used...............................
$72,000
Overhead applied.....................................
$24,000
Direct labor cost (10,000 hours)..............
$80,000
Depreciation.............................................
$10,000
Rent.........................................................
$12,000
Taxes........................................................
$8,000
Cost of goods sold...................................
$157,000*
*
Selling and administrative costs incurred
Advertising..............................................
$35,000
Rent.........................................................
$20,000
Clerical.....................................................
$25,000
3. If Omar Company applies overhead to jobs on the...
Exercise 5
When Job 711 was completed, direct materials totaled $3,000;
direct labor, $3,500; and factory...
Exercise 5
When Job 711 was completed, direct materials totaled $3,000;
direct labor, $3,500; and factory overhead, $1,500, respectively.
Units produced totaled 1,000. Unit costs are:
Select one:
a. $8,000
b. $800
c. $80
d. $8
Exercise 6
Compute conversion costs given the following data: Direct
Materials, $247,800; Direct Labor, $183,400; Factory Overhead,
$121,300.
Select one:
a. $431,200
b. $552,500
c. $304,700
d. $369,100
Exercise 7
Albany, Inc. has estimated total factory overhead costs of
$400,000 and 20,000 direct labor...
J Company has the
following information for the year related to its job order costing
system....
J Company has the
following information for the year related to its job order costing
system.
Work-In Process - Beginning Inventory
$ 18,000
Finished Goods - Beginning Inventory
12,000
Direct materials placed in production
80,000
Direct labor incurred
190,000
Actual manufacturing overhead incurred
300,000
Manufacturing overhead applied to production
295,000
Cost of jobs completed and transferred
500,000
The cost of J
Company's ending inventory of Work in Process is:
Beckner Inc. is a job-order manufacturer. The company uses a
predetermined overhead rate based on direct...
Beckner Inc. is a job-order manufacturer. The company uses a
predetermined overhead rate based on direct labor hours to apply
overhead to individual jobs. For the current year, estimated direct
labor hours are 150,000 and estimated factory overhead is
$1,140,000. The following information is for September. Job X was
completed during September, while Job Y was started but not
finished.
September 1, inventories:
Materials
$
25,700
Work-in-process (All Job X)
55,100
Finished goods
107,300
Materials purchases
$
174,000
Direct materials...
JOB ORDER COSTING PROBLEM
During May, $42,000 of
direct materials were used on Job #...
JOB ORDER COSTING PROBLEM
During May, $42,000 of
direct materials were used on Job # 24, 320 hours of
direct labor were charged at a
rate of $25 per hour, and manufacturing
overhead was applied at a rate of
75 % of direct labor costs. Job # 24 was
completed during May and
transferred to Finished Goods Inventory.
What is the total cost of Job # 24?
Prepare the journal entries to record the addition of...