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Explain overhead for the different methods, for process costing, activity-based costing, job order costing.

Explain overhead for the different methods, for process costing, activity-based costing, job order costing.

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Lamour Corporation is a job order costing company that uses activity-based costing to apply overhead to jobs. The following overhead activities were budgeted for the year. ? Activity Cost Driver Amount of driver setups $240,000 number of setups 6,000 purchasing 160,000 number of parts 20,000 other overhead 300,000 direct labor hours 80,000 ? The following information about the jobs was given for April. ? ? Job 101 Job 102 Job 103 Job 104 Balance 4/1 $64,900 $40,770 $30,500 0 direct...
Lamour Corporation is a job order costing company that uses activity-based costing to apply overhead to...
Lamour Corporation is a job order costing company that uses activity-based costing to apply overhead to jobs. The following overhead activities were budgeted for the year. Activity Cost Driver Amount of driver Setups $240,000 Number of setups 6,000 Purchasing 160,000 Number of parts 20,000 Other overhead 300,000 Direct labor hours 80,000 The following information about the jobs was given for April. Job 101 Job 102 Job 103 Job 104 Balance 4/1 $64,900 $40,770 $30,500 0 Direct materials 54,000 37,900 25,000...
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Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling $81,900 Number of moves 3,500 Engineering 135,150 Number of change orders 8,500 Other overhead 240,000 Direct labor hours 48,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job 13-45 Job 13-46 Beginning balance...
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Describe the differences between job order costing, process costing, and Activity Based Costing (ABC). What are the advantages and disadvantages of each system? Imagine a company that you might be a manager for. Describe that company and what their major product or service would be. Then, tell which cost system would be best suited to that firm and why.
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Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling $54,250 Number of moves 2,500 Engineering 120,700 Number of change orders 8,500 Other overhead 148,500 Direct labor hours 45,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job...
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1-Describe job order costing, process costing and activity-based costing. Provide examples of the type of companies...
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