The end of the period for the completed job

Assignment Help Financial Accounting

Reference no: EM131214340

The following information is available at the end of the period for the completed job.

Beginning balance 18,000

Direct materials 30,600

Direct labor 24,500

Manufacturing overhead applied 41,700

Adjustment for overapplied overhead 1,600

Total numbers of units produced 25,000

Total number of units sold 28,500

What is the unit cost for this job?

Using the information above prepare the journal entry to record the adjustment for overapplied overhead.

Using the information above calculate the overhead rate you will use on your next job. The overhead rate is based on direct labor.

Reference no: EM131214340

Questions Cloud

Disagree regarding the paragraph on payroll : Are you agree or disagree regarding the paragraph on payroll which is a part of auditing-Monetary compensation is a leading cause for the common practice of verifying total officers' compensation even when the tests of controls and substantive tests ..

Constitute an increase in economic resources : Printing and distribution of invoices does not constitute an increase in economic resources. On the other hand, can you give examples of what should be included in REA diagram? Remember that REA specifies the domain rules assuring soundness and consi..

Business software applications from the business perspective : Printing and distribution of invoices does not constitute an increase in economic resources. On the other hand, can you give examples of what should be included in REA diagram? Remember that REA specifies the domain rules assuring soundness and consi..

When measuring impairment loss for long-term operating asset : When measuring an impairment loss for a long-term operating asset, must firms determine the fair market value using a discounted cash flow model? Explain.

The end of the period for the completed job : The following information is available at the end of the period for the completed job. What is the unit cost for this job? Using the information above prepare the journal entry to record the adjustment for overapplied overhead.

Calculate the direct materials price variance for the month : We make small elevators which can hold a maximum of ten passengers. One of the direct materials we use is industral strength carpetig for the floor of the elevator. the direct materials quantity stadard we use is 8 squares yards for each elevator. ca..

Calculate the standard unit cost : Using the following information, calculate the standard unit cost of this product.

Should preferred stock be recognized as a liability : An unsettled question in accounting for stock is: Should preferred stock be recognized as a liability, or should it be considered equity? Under International Financial Reporting Standards, preferred stock (preference shares) often is reported as debt..

What is the amount of budgeted volume-standard volume : The Starr Company has established a standard cost system for the manufacture of a single consumer product, which is branded under the name Vinbit. Starr Company’s overhead is applied through the use of direct labor hours as the single cost driver. Ut..

User Account

All Pages