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Landow Industries uses a job-order cost system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor hours. The estimated MOH was $136,000 for the year and the estimated direct labor hours were 16,000 hours.
In June, Job # 325 was completed. Direct materials totaled $5,500. Total labor costs were $3,000 at $15 per hour. At the end of the year, it was determined that the company worked 15,000 direct labor hours for the year, and incurred $130,000 in actual manufacturing overhead costs.Required:a- Calculate the predetermined overhead rate for year.b- Determine the amount of overhead charged to jobs during the year.c- Determine the amount of under- or over-applied overhead for the year.d- Prepare a job cost sheet for Job # 325 using information given. Assuming that 60 units were completed, determine the unit product cost.
Accounts receivable of $14,800 (gross) are factored with Andrew Jackson Credit Corp
Each unit sells for $25. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remainder is received in the quarter following sale. Cash collections for the third quarter are budgeted at:
Timmer Bachman founded the Bachman Corporation over 25 years ago. The company's genesis was the unique climbing apparatus developed by Timmer, an avid mountaineer.
Which of the following describes the impact on consolidated financial statements of upstream and downstream transfers?
james is trying to determine if there is a relationship between machine hours and utility costs. he has gathered
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What are the differences between a direct cost and an indirect cost? Which is the more difficult cost to track? Why? How do indirect costs affect the cost of a product? Should indirect costs be included in product cost? Why or why not?
The present value of the note at 9% was $1,442,000 at January 1, 2010. What should be the balance of the Discount on Notes Payable account on the books of Leary at December 31, 2010 after adjusting entries are made, assuming that the effective-in..
in the cocktail lounge at fribbes hotel a straight shot of irish whiskey is 1 12 ounces. the purchase price for 1 liter
which of the following features of preferred stock makes the security more like debt than an equity
assume that boots normally sell for 90 per pair. an exporter has approached park about buying 1000 pairs of boots for
The problem that you select must not be trivial. It should be a problem for which computerized support is genuinely required. Problemsdeemed to be overly simple will not receive good marks.
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