Reference no: EM132530606
Question 1) Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below:
Estimated machine-hours 72,200
Estimated variable manufacturing overhead $ 3.00 per machine-hour
Estimated total fixed manufacturing overhead $ 838,720
The predetermined overhead rate for the recently completed year was closest to
Question 2) Job 910 was recently completed. The following data have been recorded on its job cost sheet:
Direct materials $ 2,483
Direct labor-hours 77
labor-hours Direct labor wage rate $ 19 per labor-hour
Machine-hours 136 machine-hours
The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $20 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be
Question 3) Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data:
Total direct labor-hours 90,000
Total fixed manufacturing overhead cost $ 279,000
Variable manufacturing overhead per direct labor-hour $ 5.00
Recently, Job P951 was completed with the following characteristics:
Number of units in the job 25
Total direct labor-hours 100
Direct materials $ 700
Direct labor cost $ 9,000
The unit product cost for Job P951 is closest to
Question 4) Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates:
Machining Customizing
Machine-hours 27,000 18,000
Direct labor-hours 7,000 6,000
Total fixed manufacturing overhead cost $ 145,800 $ 18,600
Variable manufacturing overhead per machine-hour $ 1.80
Variable manufacturing overhead per direct labor-hour $ 3.10
During the current month the company started and finished Job T272. The following data were recorded for this job:
Job T272:
Machining Customizing Machine-hours 40 30
Direct labor-hours 30 30
The estimated total manufacturing overhead for the Machining Department is closest to
Question 5) During March, Zea Inc. transferred $58,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $64,000. The journal entries to record these transactions would include a: