Reference no: EM132821060
Johnson Inc. is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 93,000 and estimated factory overhead is $511,500. The following information is for September of the current year. Job A was completed during September, and Job B was started but not finished.
September 1, inventories
Materials inventory$ 8,400
Work-in-process inventory (All Job A) 33,000
Finished goods inventory 71,500
Material purchases 117,500
Direct materials requisitioned
Job A 74,000
Job B 38,000
Direct labor hours
Job A 5,100
Job B 4,400
Labor costs incurred
Direct labor ($7.50/hour) 71,250
Indirect labor 14,400
Supervisory salaries 6,900
Rental costs Factory 7,900
Administrative offices 2,700
Total equipment depreciation costs Factory 8,850
Administrative offices 2,950
Indirect materials used 12,900
Required:
Problem 1. What is the total cost of Job A?
Problem 2. What is the total factory overhead applied during September?
Problem 3. What is the overapplied or underapplied overhead for September?
Determine What rate of return would be earning
: Your folks just called and would like some advice from you. An insurance agent just called them. What rate of return would they be earning?
|
Describe three key attributes of the populist movement
: The Populist Movement, especially in the Presidential Election of 1896, was a very influential factor in United States politics throughout the 1890s.
|
Performance appraisals and discipline
: 1. Explain the primary reason for the performance appraisal. Include in your response what is measured in a performance appraisal?
|
Explain whether MMI should borrow funds to purchase
: MMI's weighted average cost of capital is 10%. Explain whether MMI should borrow funds to purchase the machine or lease the machine
|
What is the underapplied overhead for september
: What is the overapplied or underapplied overhead for September? Johnson Inc. is a job-order manufacturing company that uses a predetermined overhead rate
|
What is your biggest takeaway from the section
: Summarize the assigned section of the textbook. What is this section about? What does it tell you about U.S. history during this period?
|
Outline three types of partnerships
: This week's readings outline three types of partnerships: general, limited, and limited liability. Imagine that your friend, Nina, is interested in starting a f
|
Prepare the year end March adjusting entries
: At year end, unrecorded interest expense due to creditors was KD 4,000. Prepare the year end, March 31st, 2020 adjusting entries
|
Provide the general journal entries necessary to account
: Scarborough Ltd issues a prospectus inviting the public. Provide the general journal entries necessary to account for the transactions and events.
|