Customer Service Chat
Get quote & make Payment
Ex. 3-12, 3-13 & 3-15, Accounting, Basic Statistics
EXERCISE 3-12 Computing Predetermined Overhead Rates and Job Costs [LO1,LO2, LO3, LO7]
Kody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:
1. Compute the predetermined overhead rate.
2. During the year Job 500 was started and completed. The following information was available with respect to this job:
Compute the total manufacturing cost assigned to Job 500.
3. During the year the company worked a total of 147,000 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,325,000. What is the amount of underapplied or overapplied overhead for the year? If this amount were closed out entirely to Cost of Goods Sold, would the journal entry increase or decrease net operating income?
EXERCISE 3-13 Applying Overhead; Cost of Goods Manufactured [LO2, LO6, LO7]
The following cost data relate to the manufacturing activities of Black Company during the just completed year:
The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $5 per machine-hour; a total of 10,000 machine-hours was recorded for the year. All raw materials ultimately become direct materials—none are classified as indirect materials.
1. Compute the amount of underapplied or overapplied overhead cost for the year.
2. Prepare a schedule of cost of goods manufactured for the year.
EXERCISE 3-15 Departmental Overhead Rates [LO1, LO2, LO3]
Diewold Company has two departments, Milling and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Milling Department bases its rate on machine-hours, and the Assembly Department bases its rate on direct labor-hours. At the beginning of the year, the company made the following estimates:
1. Compute the predetermined overhead rate to be used in each department.
2. Assume that the overhead rates you computed in (1) above are in effect. The job cost sheet for Job 407, which was started and completed during the year, showed the following:
Compute the total manufacturing cost assigned to Job 407.
3. Would you expect substantially different amounts of overhead cost to be charged to some jobs if the company used a plantwide overhead rate based on direct labor-hours instead of using departmental rates? Explain. No computations are necessary.
Posted Date: 2/3/2012 6:12:25 AM | Location : United States
Ask an Expert
Ex. 3-12, 3-13 & 3-15, Accounting, Assignment Help, Ask Question on Ex. 3-12, 3-13 & 3-15, Accounting, Get Answer, Expert's Help, Ex. 3-12, 3-13 & 3-15, Accounting Discussions
Write discussion on Ex. 3-12, 3-13 & 3-15, Accounting
Your posts are moderated
Write your message here..
Calculate the probability of coin, Q1. If you throw a coin 5 times, what is...
Q1. If you throw a coin 5 times, what is the probability of: - throwing 5 heads - throwing 4 tails - throwing 3 heads and 2 tails Q2. Construct a tree diagram to verify your ans
Book-keeping financial, Expertsmind.com offering financial accounting help...
Expertsmind.com offering financial accounting help,The Financial Accounting vs. The Book-keeping issues itself with the producing (correctly and in a set of books) of those dealin
Adaptations, what are flatworms adaptations
what are flatworms adaptations
What is a valuation account, What is a valuation account? In accounting...
What is a valuation account? In accounting, an assessment consideration is usually a stability sheet consideration that is used in combination with another stability sheet cons
Difference between historigrams and histogram?, difference between historig...
difference between historigrams and histogram?
Characteristics of data in statistics, Important Characteristics of Data ...
Important Characteristics of Data Center - The representative or average value which indicates where the middle of the data is located. Variation - the measur
The data analysis process and statistical techniques, I need to conduct an...
I need to conduct an analysis' on an alcohol and substance abuse study. the data set is too large to upload . The data set is the SPSS version that I need to work from. Here is the
Information science, Precis worked examples
Precis worked examples
Elaborate bond issue, Elaborate bond issue A reference indicating the exac...
Elaborate bond issue A reference indicating the exacting or different classification or quantity of bonds issued at a specified moment.
Budgetary accounts, Budgetary accounts Accounts used to go through the ado...
Budgetary accounts Accounts used to go through the adopted budget into the all-purpose ledger as part of the administration control method of formal budgetary addition.
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Terms & Conditions
Copyright by ExpertsMind IT Educational Pvt. Ltd.