Question
In: Accounting
-Some companies use labor cost to apply factory overhead to jobs. Identify another factor (or base)...
-Some companies use labor cost to apply factory overhead to jobs. Identify another factor (or base) a company might reasonable use to apply overhead costs.
-Assume that Apple produces a batch of 1,000 iPhones. Does it account for this as 1,000 individual jobs or as a job lot? Explain (consider costs and benefits).
Solutions
ekkarill92 answered 1 year agoRelated Solutions
1.Some companies use labor cost to apply factory overhead to jobs. Identify other factors that a...
1.Some companies use labor cost to apply factory overhead to
jobs. Identify other factors that a company might reasonably use to
apply overhead costs.
2.Why must a company use predetermined overhead rates when using
job order costing?
Please explain in a paragraph for each question. "ThankYou"
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 78,000 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
226,200 lbs. at $5.60
223,900 lbs. at $5.50
Direct labor
19,500 hrs. at $18.20
19,950 hrs. at $18.50
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 70,000 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
238,000 lbs. at $5.30
235,600 lbs. at $5.20
Direct labor
17,500 hrs. at $16.40
17,900 hrs. at $16.80
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis Mackinaw Inc. processes a base chemical into
plastic. Standard costs and actual costs for direct materials,
direct labor, and factory overhead incurred for the manufacture of
74,000 units of product were as follows: Standard Costs Actual
Costs Direct materials 192,400 lbs. at $4.70 190,500 lbs. at $4.50
Direct labor 18,500 hrs. at $18.40 18,930 hrs. at $18.80 Factory
overhead Rates per direct labor hr., based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 70,000 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
182,000 lbs. at $4.90
180,200 lbs. at $4.80
Direct labor
17,500 hrs. at $17.60
17,900 hrs. at $17.90
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 78,000 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
249,600 lbs. at $5.40
247,100 lbs. at $5.30
Direct labor
19,500 hrs. at $17.20
19,950 hrs. at $17.50
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 6,800 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
8,800 lb. at $5.70
8,700 lb. at $5.50
Direct labor
1,700 hrs. at $16.40
1,740 hrs. at $16.60
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis Mackinaw Inc. processes a base chemical into
plastic. Standard costs and actual costs for direct materials,
direct labor, and factory overhead incurred for the manufacture of
6,400 units of product were as follows: Standard Costs Actual Costs
Direct materials 8,300 lb. at $5.80 8,200 lb. at $5.60 Direct labor
1,600 hrs. at $17.70 1,640 hrs. at $18.00 Factory overhead Rates
per direct labor hr., based on 100% of normal capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 6,800 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
8,800 lb. at $4.60
8,700 lb. at $4.40
Direct labor
1,700 hrs. at $18.30
1,740 hrs. at $18.60
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 78,000 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
241,800 lbs. at $5.90
239,400 lbs. at $5.70
Direct labor
19,500 hrs. at $16.50
19,950 hrs. at $16.80
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
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