Reference no: EM132813922
Question - Company XYZ uses a job costing system. OH is applied on the basis of DL dollars. At the beginning of 2020, the firm made the following estimates. Actuals as of the end of the year are also reported. (Subject Management Accounting - the topic is called OVERHEAD ALLOCATION)
|
|
Estimates
|
Actuals
|
|
Direct labour hours
|
41,000
|
43,480
|
|
Machine hours
|
207,000
|
196,600
|
|
Direct labour
|
$732,000
|
$792,310
|
|
Direct materials
|
863,000
|
858,200
|
|
Overhead
|
2,457,000
|
2,491,200
|
On June 17, Job 403 was begun. It was completed on July 30. It required 5,400 machine hours and 960 DLH. Direct manufacturing costs were DM of $7,800 and DL of $21,210.
The job sold for $125,000.
On November 11, Job 890 was begun. It was completed on November 21. It required 3,700 machine hours and 1,250 DLH. Direct manufacturing costs were DM of $7,400 and DL of $28,500. The job sold for $130,000.
Required -
1. Compute the cost of jobs 403 and 890.
2. Compute OH over or under applied for the year.
3. Now suppose that, instead of using DL$ as the OH application base, the firm were to use machine hours. Compute the cost of jobs 403 and 890.
4. If machine hours were the OH application base, what would be the amount of OH over or under-applied?
|
What is the present value
: Question - What is the present value of $536 discounted back 7 years if the appropriate interest rate is 3.3%m compounded quarterly
|
|
Discuss bulimia nervosa and anorexia nervosa
: Discuss bulimia nervosa (BN), anorexia nervosa (AN), and binge eating disorder (BED) recommended treatments, the rationale for the treatments.
|
|
What is the bond nominal yield to call
: The bond has a 4.0% nominal yield to maturity, but it can be called in 5 years at a price of $1,053. What is the bond's nominal yield to call?
|
|
Prepare equity section of bridge corporation balance sheet
: Profit for the year ending December 31, 2020 was $31,000. Prepare the equity section of Bridge Corporation balance sheet at December 31, 2020.
|
|
Compute the cost of jobs
: Now suppose that, instead of using DL$ as the OH application base, the firm were to use machine hours. Compute the cost of jobs 403 and 890
|
|
Calculate the value of a bond that matures
: The annual coupon interest rate is 15 percent and the? market's required yield to maturity on a? comparable-risk bond is 9 percent.
|
|
Discuss treatments with emphasis on pharmacologic treatments
: Discuss Restless Leg syndrome and Periodic Limb Syndrome. Include etiology and neurobiologic principles. Discuss treatments with emphasis on pharmacologic.
|
|
What are the values of european call and put options
: Consider a two period (t = 0, 1, 2) binomial model with u = 1.2, d = .9, continuously compounded interest rate r = 4.879%, and S = 100.
|
|
Prepare journal entries to record purchase of the inventory
: Prepare journal entries to record purchase of the inventory, accrual of interest on Dec 31, 2020 and the final repayment of the note and interest at maturity.
|