Filters
Question type
Study Flashcards

Morataya Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Morataya Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job B and Job G. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job B is closest to: A) $31,392 B) $27,480 C) $39,240 D) $7,848 During the most recent month, the company started and completed two jobs--Job B and Job G. There were no beginning inventories. Data concerning those two jobs follow: Morataya Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job B and Job G. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job B is closest to: A) $31,392 B) $27,480 C) $39,240 D) $7,848 -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job B is closest to:


A) $31,392
B) $27,480
C) $39,240
D) $7,848

E) B) and C)
F) None of the above

Correct Answer

verifed

verified

Actual overhead costs are not assigned to jobs in a job costing system.

A) True
B) False

Correct Answer

verifed

verified

Rondo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.The company based its predetermined overhead rate for the current year on the following data: Rondo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.The company based its predetermined overhead rate for the current year on the following data: Recently Job T506 was completed with the following characteristics: Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job T506. d.Calculate the total job cost for Job T506. e.Calculate the unit product cost for Job T506. f.Calculate the selling price for Job T506 if the company marks up its unit product costs by 20%. Recently Job T506 was completed with the following characteristics: Rondo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.The company based its predetermined overhead rate for the current year on the following data: Recently Job T506 was completed with the following characteristics: Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job T506. d.Calculate the total job cost for Job T506. e.Calculate the unit product cost for Job T506. f.Calculate the selling price for Job T506 if the company marks up its unit product costs by 20%. Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job T506. d.Calculate the total job cost for Job T506. e.Calculate the unit product cost for Job T506. f.Calculate the selling price for Job T506 if the company marks up its unit product costs by 20%.

Correct Answer

verifed

verified

a.Estimated total manufacturing overhead...

View Answer

Hickingbottom Corporation has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Hickingbottom Corporation has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job M381. The following data were recorded for this job: -The predetermined overhead rate for the Forming Department is closest to: A) $5.70 per machine-hour B) $7.70 per machine-hour C) $2.00 per machine-hour D) $18.70 per machine-hour During the current month the company started and finished Job M381. The following data were recorded for this job: Hickingbottom Corporation has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job M381. The following data were recorded for this job: -The predetermined overhead rate for the Forming Department is closest to: A) $5.70 per machine-hour B) $7.70 per machine-hour C) $2.00 per machine-hour D) $18.70 per machine-hour -The predetermined overhead rate for the Forming Department is closest to:


A) $5.70 per machine-hour
B) $7.70 per machine-hour
C) $2.00 per machine-hour
D) $18.70 per machine-hour

E) B) and C)
F) All of the above

Correct Answer

verifed

verified

Verry Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours.The company based its predetermined overhead rate for the current year on the following data: Verry Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours.The company based its predetermined overhead rate for the current year on the following data: Recently Job X711 was completed and required 90 direct labor-hours. Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job X711. Recently Job X711 was completed and required 90 direct labor-hours. Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job X711.

Correct Answer

verifed

verified

a.Estimated total manufacturing overhead...

View Answer

Macnamara Corporation has two manufacturing departments--Casting and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Macnamara Corporation has two manufacturing departments--Casting and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job M is closest to: A) $15,310 B) $47,767 C) $30,620 D) $45,930 During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs follow: Macnamara Corporation has two manufacturing departments--Casting and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job M is closest to: A) $15,310 B) $47,767 C) $30,620 D) $45,930 -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job M is closest to:


A) $15,310
B) $47,767
C) $30,620
D) $45,930

E) B) and D)
F) C) and D)

Correct Answer

verifed

verified

Helland Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours.The company based its predetermined overhead rate for the current year on the following data: Helland Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours.The company based its predetermined overhead rate for the current year on the following data: The predetermined overhead rate is closest to: A) $2.50 per direct labor-hour B) $11.30 per direct labor-hour C) $6.30 per direct labor-hour D) $8.80 per direct labor-hour The predetermined overhead rate is closest to:


A) $2.50 per direct labor-hour
B) $11.30 per direct labor-hour
C) $6.30 per direct labor-hour
D) $8.80 per direct labor-hour

E) B) and D)
F) A) and D)

Correct Answer

verifed

verified

Petty Corporation has two production departments, Milling and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Petty Corporation has two production departments, Milling and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: -The predetermined overhead rate for the Finishing Department is closest to: A) $5.84 per direct labor-hour B) $3.60 per direct labor-hour C) $11.00 per direct labor-hour D) $14.60 per direct labor-hour -The predetermined overhead rate for the Finishing Department is closest to:


A) $5.84 per direct labor-hour
B) $3.60 per direct labor-hour
C) $11.00 per direct labor-hour
D) $14.60 per direct labor-hour

E) C) and D)
F) A) and D)

Correct Answer

verifed

verified

Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job P951 was completed with the following characteristics: -The estimated total manufacturing overhead is closest to: A) $120,000 B) $96,003 C) $96,000 D) $216,000 Recently, Job P951 was completed with the following characteristics: Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job P951 was completed with the following characteristics: -The estimated total manufacturing overhead is closest to: A) $120,000 B) $96,003 C) $96,000 D) $216,000 -The estimated total manufacturing overhead is closest to:


A) $120,000
B) $96,003
C) $96,000
D) $216,000

E) A) and C)
F) A) and D)

Correct Answer

verifed

verified

Claybrooks Corporation has two manufacturing departments--Casting and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Claybrooks Corporation has two manufacturing departments--Casting and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.That predetermined manufacturing overhead rate is closest to: A) $4.70 B) $7.40 C) $6.48 D) $3.70 -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.That predetermined manufacturing overhead rate is closest to:


A) $4.70
B) $7.40
C) $6.48
D) $3.70

E) A) and B)
F) A) and C)

Correct Answer

verifed

verified

Leadley Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours.The company based its predetermined overhead rate for the current year on the following data: Leadley Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours.The company based its predetermined overhead rate for the current year on the following data: Recently Job X701 was completed with the following characteristics: Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job X701. d.Calculate the total job cost for Job X701. Recently Job X701 was completed with the following characteristics: Leadley Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours.The company based its predetermined overhead rate for the current year on the following data: Recently Job X701 was completed with the following characteristics: Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job X701. d.Calculate the total job cost for Job X701. Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job X701. d.Calculate the total job cost for Job X701.

Correct Answer

verifed

verified

a.Estimated total manufacturing overhead...

View Answer

Collini Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Collini Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job T268. The following data were recorded for this job: -If the company marks up its manufacturing costs by 40% then the selling price for Job T268 would be closest to: A) $1,932.40 B) $6,763.40 C) $4,831.00 D) $7,440.00 During the current month the company started and finished Job T268. The following data were recorded for this job: Collini Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job T268. The following data were recorded for this job: -If the company marks up its manufacturing costs by 40% then the selling price for Job T268 would be closest to: A) $1,932.40 B) $6,763.40 C) $4,831.00 D) $7,440.00 -If the company marks up its manufacturing costs by 40% then the selling price for Job T268 would be closest to:


A) $1,932.40
B) $6,763.40
C) $4,831.00
D) $7,440.00

E) A) and C)
F) A) and B)

Correct Answer

verifed

verified

Garza Corporation has two production departments, Casting and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Garza Corporation has two production departments, Casting and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: -The estimated total manufacturing overhead for the Customizing Department is closest to: A) $54,110 B) $30,100 C) $98,700 D) $68,600 -The estimated total manufacturing overhead for the Customizing Department is closest to:


A) $54,110
B) $30,100
C) $98,700
D) $68,600

E) B) and C)
F) None of the above

Correct Answer

verifed

verified

Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job T272. The following data were recorded for this job: -The estimated total manufacturing overhead for the Customizing Department is closest to: A) $40,950 B) $19,800 C) $56,400 D) $76,200 During the current month the company started and finished Job T272. The following data were recorded for this job: Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job T272. The following data were recorded for this job: -The estimated total manufacturing overhead for the Customizing Department is closest to: A) $40,950 B) $19,800 C) $56,400 D) $76,200 -The estimated total manufacturing overhead for the Customizing Department is closest to:


A) $40,950
B) $19,800
C) $56,400
D) $76,200

E) C) and D)
F) None of the above

Correct Answer

verifed

verified

Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job T272. The following data were recorded for this job: -The estimated total manufacturing overhead for the Machining Department is closest to: A) $137,600 B) $104,000 C) $33,600 D) $310,933 During the current month the company started and finished Job T272. The following data were recorded for this job: Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job T272. The following data were recorded for this job: -The estimated total manufacturing overhead for the Machining Department is closest to: A) $137,600 B) $104,000 C) $33,600 D) $310,933 -The estimated total manufacturing overhead for the Machining Department is closest to:


A) $137,600
B) $104,000
C) $33,600
D) $310,933

E) B) and D)
F) C) and D)

Correct Answer

verifed

verified

Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job K928. The following data were recorded for this job: -If the company marks up its manufacturing costs by 20% then the selling price for Job K928 would be closest to: A) $4,275.00 B) $5,643.00 C) $5,130.00 D) $855.00 During the current month the company started and finished Job K928. The following data were recorded for this job: Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job K928. The following data were recorded for this job: -If the company marks up its manufacturing costs by 20% then the selling price for Job K928 would be closest to: A) $4,275.00 B) $5,643.00 C) $5,130.00 D) $855.00 -If the company marks up its manufacturing costs by 20% then the selling price for Job K928 would be closest to:


A) $4,275.00
B) $5,643.00
C) $5,130.00
D) $855.00

E) A) and C)
F) A) and B)

Correct Answer

verifed

verified

Pebbles Corporation has two manufacturing departments--Casting and Finishing.The company used the following data at the beginning of the year to calculate predetermined overhead rates: Pebbles Corporation has two manufacturing departments--Casting and Finishing.The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month,the company started and completed two jobs--Job A and Job L.There were no beginning inventories.Data concerning those two jobs follow: Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job L is closest to: A) $9,600 B) $6,200 C) $28,904 D) $13,104 During the most recent month,the company started and completed two jobs--Job A and Job L.There were no beginning inventories.Data concerning those two jobs follow: Pebbles Corporation has two manufacturing departments--Casting and Finishing.The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month,the company started and completed two jobs--Job A and Job L.There were no beginning inventories.Data concerning those two jobs follow: Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job L is closest to: A) $9,600 B) $6,200 C) $28,904 D) $13,104 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job L is closest to:


A) $9,600
B) $6,200
C) $28,904
D) $13,104

E) None of the above
F) A) and D)

Correct Answer

verifed

verified

Carcana Corporation has two manufacturing departments--Machining and Finishing.The company used the following data at the beginning of the period to calculate predetermined overhead rates: Carcana Corporation has two manufacturing departments--Machining and Finishing.The company used the following data at the beginning of the period to calculate predetermined overhead rates: During the period,the company started and completed two jobs--Job E and Job G.Data concerning those two jobs follow: Required: a.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments.What is the departmental predetermined overhead rate in the Machining department? b.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.What is the departmental predetermined overhead rate in the Finishing department? c.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job E? d.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job G? e.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices.Calculate the selling price for Job E. f.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices.Calculate the selling price for Job G. g.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.If both jobs were sold during the month,what was the company's cost of goods sold for the month? During the period,the company started and completed two jobs--Job E and Job G.Data concerning those two jobs follow: Carcana Corporation has two manufacturing departments--Machining and Finishing.The company used the following data at the beginning of the period to calculate predetermined overhead rates: During the period,the company started and completed two jobs--Job E and Job G.Data concerning those two jobs follow: Required: a.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments.What is the departmental predetermined overhead rate in the Machining department? b.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.What is the departmental predetermined overhead rate in the Finishing department? c.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job E? d.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job G? e.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices.Calculate the selling price for Job E. f.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices.Calculate the selling price for Job G. g.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.If both jobs were sold during the month,what was the company's cost of goods sold for the month? Required: a.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments.What is the departmental predetermined overhead rate in the Machining department? b.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.What is the departmental predetermined overhead rate in the Finishing department? c.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job E? d.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job G? e.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices.Calculate the selling price for Job E. f.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices.Calculate the selling price for Job G. g.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.If both jobs were sold during the month,what was the company's cost of goods sold for the month?

Correct Answer

verifed

verified

a.Machining Department predetermined ove...

View Answer

Merati Corporation has two manufacturing departments--Forming and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Merati Corporation has two manufacturing departments--Forming and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job B and Job L. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.The manufacturing overhead applied to Job B is closest to: A) $9,400 B) $25,160 C) $32,670 D) $34,560 During the most recent month, the company started and completed two jobs--Job B and Job L. There were no beginning inventories. Data concerning those two jobs follow: Merati Corporation has two manufacturing departments--Forming and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job B and Job L. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.The manufacturing overhead applied to Job B is closest to: A) $9,400 B) $25,160 C) $32,670 D) $34,560 -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.The manufacturing overhead applied to Job B is closest to:


A) $9,400
B) $25,160
C) $32,670
D) $34,560

E) A) and B)
F) A) and C)

Correct Answer

verifed

verified

Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job K928. The following data were recorded for this job: -The predetermined overhead rate for the Machining Department is closest to: A) $7.20 per machine-hour B) $9.00 per machine-hour C) $21.38 per machine-hour D) $1.80 per machine-hour During the current month the company started and finished Job K928. The following data were recorded for this job: Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job K928. The following data were recorded for this job: -The predetermined overhead rate for the Machining Department is closest to: A) $7.20 per machine-hour B) $9.00 per machine-hour C) $21.38 per machine-hour D) $1.80 per machine-hour -The predetermined overhead rate for the Machining Department is closest to:


A) $7.20 per machine-hour
B) $9.00 per machine-hour
C) $21.38 per machine-hour
D) $1.80 per machine-hour

E) None of the above
F) A) and B)

Correct Answer

verifed

verified

Showing 261 - 280 of 292

Related Exams

Exam 1

Managerial Accounting and Cost Concepts

299 Questions

Exam 3

Job-Order Costing: Cost Flows and External Reporting

255 Questions

Exam 4

Process Costing

138 Questions

Exam 5

Cost-Volume-Profit Relationships

260 Questions

Exam 6

Variable Costing and Segment Reporting: Tools for Management

291 Questions

Exam 7

Super-Variable Costing

49 Questions

Exam 8

Master Budgeting

234 Questions

Exam 9

Flexible Budgets and Performance Analysis

417 Questions

Exam 10

Standard Costs and Variances

247 Questions

Exam 11

Performance Measurement in Decentralized Organizations

180 Questions

Exam 12

Differential Analysis: The Key to Decision Making

203 Questions

Exam 13

Capital Budgeting Decisions

179 Questions

Exam 14

Statement of Cash Flows

132 Questions

Exam 15

Financial Statement Analysis

289 Questions

Exam 16

Cost of Quality

66 Questions

Exam 17

Activity-Based Absorption Costing

20 Questions

Exam 18

The Predetermined Overhead Rate and Capacity

42 Questions

Exam 19

Job-Order Costing: a Microsoft Excel-Based Approach

28 Questions

Exam 20

Fifo Method

100 Questions

Exam 21

Service Department Allocations

60 Questions

Exam 22

Analyzing Mixed Costs

81 Questions

Exam 23

Time-Driven Activity-Based Costing: a Microsoft Excel-Based Approach

123 Questions

Exam 24

Predetermined Overhead Rates and Overhead Analysis in a Standard Costing System

177 Questions

Exam 25

Standard Cost Systems: a Financial Reporting Perspective Using Microsoft Excel

138 Questions

Exam 26

Transfer Pricing

102 Questions

Exam 27

Service Department Charges

44 Questions

Exam 28

Pricing Decisions

149 Questions

Exam 29

The Concept of Present Value

16 Questions

Exam 30

Income Taxes and the Present Value Method

150 Questions

Exam 31

the Direct Method of Determining the Net Cash Provided by Operating Activities

56 Questions

Show Answer