Find what the budgeted manufacturing overhead rate

Assignment Help Cost Accounting
Reference no: EM132746579

Destiny Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Destiny allocates manufacturing overhead costs using direct manufacturing labor costs. destiny provides the following information:

                                                  Budget for                      Actual Results for
                                         Year 2006                                     Year 2006
Direct materials costs             1,600,000 ?                     1,450,000 ?
Direct manufacturing labor costs 1,200,000 ?                     900,000 ?
Manufacturing overhead costs     960,000 ?                       780,000 ?

During March, the job cost record for job 123 contained the following information:

Direct materials used 50,000 ?
Direct manufacturing labor costs 30,000 ?

Problem 1: The budgeted manufacturing overhead rate for 2006 is

Problem 2: Using the actual costing system, what is the cost of Job 123?

Problem 3: Using the budgeted costing system, what is the cost of Job 123?

Reference no: EM132746579

Questions Cloud

Find what the budgeted manufacturing overhead rate is : Find what the budgeted manufacturing overhead rate is? Katharine's job-costing system has a single manufacturing overhead cost pool. Costs are allocated to jobs
Disadvantages of nanotechnology in health care : What are the potential advantages and disadvantages of nanotechnology in health care, agriculture, or industry
Application of leadership skills and technology : Describe how the application of leadership skills and technology used is essential to implement the action for advocacy, empowerment, and addressing social
How to lead individuals and groups in problem solving : Describe how to lead individuals and groups in problem solving and Describe how applied leadership skills align with the application of the core values
Find what the budgeted manufacturing overhead rate : What the budgeted manufacturing overhead rate for 2006 is?Destiny Products uses a job-costing system with two direct-cost categories
Official statement from a public health organization : For your assignment, find an article or official statement from a public health organization anywhere in the world (except cannot use CDC or WHO).
What is the role of natural killer cells : What is the role of Natural killer cells, dendritic cells, monocyte, neutrophil, basophil, eosinophil
Effectively apply professional use of self : Reflect on and self-assess their masteries of a variety of skills necessary for professional social workers at the beginning of the course in order to effective
Describe the genus and species name : Describe the genus and species name and general characteristics of the organism that caused his disease

Reviews

Write a Review

Cost Accounting Questions & Answers

  Statement of cash flows for jackson corporation

Prepare a statement of cash flows for Jackson Corporation for 2013. Additional information for the year that is pertinent to its preparations

  Is manufacturing overhead under applied and why

Make an income statement for the year. All of the information needed for the income statement is available in the journal entries and T-accounts.

  Establish a production cost worksheet if spoilage recognized

Better Times Company is a manufacturer of soap. Establish a production cost worksheet if spoilage is recognized and the weighted-average method is used.

  Find sales value at split off of a joint product

Find sales value at split off of a joint product relative to the sales value at split off of total joint production. Market value at split-off approch

  Conduct research to locate the mdampa information in a

conduct research to locate the mdampa information in a report for smith manufacturing. the research should include the

  What is the total amount of cost

If Federated uses the step method of allocating service department costs beginning with Department S1, what is the total amount of cost that will be allocated from S2 to Department A?

  Show how the costs would be apportioned to each department

Show how the costs would be apportioned to each department? A factory has two production departments: preparation and assembly

  Balance sheet for the bryan corporation

The balance sheet for the Bryan Corporation is shown below. Sales for the year were $3,680,000, with 75 percent of sales sold on credit and income statement for J. Lo Wedding Gowns, compute the following ratios:

  Compare target costing and traditional standard costs

Identify and describe three areas in which standard costs can be used in the decision-making process. Compare and contrast target costing and traditional standard costs.

  What is the cost of holding one unit of component

C1 is 12,000 units and the cost of placing an order for the component is $40. What is the cost of holding one unit of Component C1 in inventory for one year?

  Find what is the total cost allocated to department

What is the total cost allocated to Department? B Co. allocates service department cost directly to producing departments without allocation

  Why would company use a predetermined overhead application

Why would the company use a predetermined overhead application rate for costing the production of custom-built dining-room settings?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd