Question
In: Accounting
In job order costing system, is direct labor assigned to a job using employees time tickets?
In job order costing system, is direct labor assigned to a job using employees time tickets?
Solutions
ekkarill92 answered 8 months agoRelated Solutions
Carlon, Inc. uses a job-order costing system and applies overhead based on direct labor dollars. Job...
Carlon, Inc. uses a job-order costing system and applies
overhead based on direct labor dollars. Job 316 was started in July
and incurred the following costs in July: Direct materials $950
Direct labor $1,050 Applied overhead $1,260 The job was completed
in August with an additional $2,100 in direct material cost and
$1,400 in additional direct labor cost. What was the total cost of
Job 316 at the end of August?
an organization uses a job-order costing system. The company uses direct labor hour as the allocation...
an organization uses a job-order costing system. The company
uses direct labor hour as the allocation base for applying
manufacturing overhead cost to individual jobs. At the beginning of
the year, the company’s estimated manufacturing overhead cost is
$1,000,000 and the estimated number of labor hours is 200,000. At
the end of the year, the company found that the actual
manufacturing overhead cost is $1,200,000 and the actual number of
labor hours is 250,000.
1. What is the predetermined overhead...
Zella Co. uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor)...
Zella Co. uses a job-costing system with two direct-cost
categories (direct materials and direct manufacturing labor) and
one manufacturing overhead cost pool. Zella allocates manufacturing
overhead costs using direct manufacturing labor costs. Zella
provides the following information:
Budget for 2018
Actual Results for 2018
Direct material costs
$2,000,000
$1,900,000
Direct manufacturing labor hours
1,500
1,480
Manufacturing overhead costs
2,900,000
2,950,000
Compute the actual and budgeted manufacturing overhead rates
for 2018. (1pt)
At the end of 2018, compute the under- or...
Zella Co. uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor)...
Zella Co. uses a job-costing system with two direct-cost
categories (direct materials and direct manufacturing labor) and
one manufacturing overhead cost pool. Zella allocates manufacturing
overhead costs using direct manufacturing labor costs. Zella
provides the following information:
Budget for 2018
Actual Results for 2018
Direct material costs
$2,000,000
$1,900,000
Direct manufacturing labor hours
1,500
1,480
Manufacturing overhead costs
2,900,000
2,950,000
Compute the actual and budgeted manufacturing overhead rates
for 2018. (1pt)
At the end of 2018, compute the under- or...
ABC uses job-order costing. It applies overhead cost to jobs on the basis of direct labor-hours....
ABC uses job-order costing. It applies overhead cost to jobs on
the basis of direct labor-hours. The following transactions took
place during the year: a) $300,000 of raw materials were purchased
on account b) Raw materials were issued into production: $90,000
direct materials and $40,000 indirect materials c) Labor costs
incurred: $40,000 direct, $130,000 indirect, sales commissions
$50,000, administrative salaries $100,000 d) Utility costs for the
factory were $60,000 e) Depreciation recorded was $300,000 (70%
related to factory; 30% related...
Job Order Costing: Define job order costing. Compare and contrast job order costing with process costing....
Job Order Costing: Define job order costing. Compare and
contrast job order costing with process costing. Trace the flow of
costs through a job order costing system. Discuss manufacturing
overhead and how it is applied. Why is the manufacturing overhead
account adjusted at the end of the period?
Job Order Costing: Wadadli Products uses a job-order costing system Overhead costs are applied to jobs...
Job Order Costing: Wadadli Products uses a job-order costing
system Overhead costs are applied to jobs on the basis of
machine-hours. At the beginning of the year, management estimated
that 170,000 machine-hours would be required for the periods
estimated level of production. The company also estimated $212,500
of fixed manufacturing overhead expenses for the coming period and
variable manufacturing overhead of $1.50 per machine hour.
Required: 1. Compute the company’s predetermined overhead rate. 2.
Assume that during the year of...
Detmer Liebold uses a job-order costing system with a single predetermined overhead rate based on direct...
Detmer Liebold uses a job-order costing system with a single
predetermined overhead rate based on direct labor hours. The
predetermined overhead rate is based on the following data: Total
direct labor hours 70,000
Total fixed overhead cost 273,000
Variable manufacturing overhead per direct labor hour $6.00
Job 924 was recently completed with the following
characteristics.
Number of units produced 50
Total direct labor hours 100 Direct materials $680
Direct labor cost $7,000
Complete the following table to calculate the unit...
Question #1: Compare and contrast a job order costing system and a process costing system -...
Question #1: Compare and contrast a job order costing system
and a process costing system - include an example of when each
might be used
Question #2: Explain in detail what the term "equivalent
units" means. How is it used in Accounting and/or what is its
purpose
McCullough Hospital uses a job-order costing system to assign costs to its patients. Its direct materials...
McCullough Hospital uses a job-order costing system to assign
costs to its patients. Its direct materials include a variety of
items such as pharmaceutical drugs, heart valves, artificial hips,
and pacemakers. Its direct labor costs (e.g., surgeons,
anesthesiologists, radiologists, and nurses) associated with
specific surgical procedures and tests are traced to individual
patients. All other costs, such as depreciation of medical
equipment, insurance, utilities, incidental medical supplies, and
the labor costs associated with around-the clock monitoring of
patients are treated...
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