16. Congress Manufacturing is currently working on two jobs. The job order cost
ID: 2480102 • Letter: 1
Question
16. Congress Manufacturing is currently working on two jobs. The job order cost sheets for Job 101 and Job 102 showed the following information: Job 101 Job 102 Direct Materials $19,500 $22,500 Direct Labor 31,500 52,500 If overhead is applied to jobs at $0.55 per direct labor dollar, the total manufacturing cost for the two jobs would be: $46,200. $172,200. $195,300. $126,000.
17.
$55,200.
$151,200.
$162,000.
$96,000.
18.
Jefferson Company made the following estimates for the 2014 accounting period:
Overhead costs: $570,000
Direct labor hours: 95,000
Assume Overhead is allocated on the basis of direct labor hours.
If 25,000 hours of labor are actually used in February, how much overhead cost would be allocated to work in process during the month? (Do not round your intermediate calculations.)
$22,800
$150,000
$171,000
$170,000
19.
$96,000.
$162,000.
$55,200.
$151,200.
21.
Purchased raw materials inventory on account.
Transferred cost of goods manufactured from work in process to finished goods inventory.
None of these.
Recognized revenue from merchandise sold for cash.
Explanation / Answer
Answer:16
Total manufacturing cost for Job 101 = Direct material + direct labor + overhead cost
= 19500+31500+(31500*0.55) = $68325
Total manufacturing cost for Job 102= Direct material + direct labor + overhead cost
=22500+52500 + (52500*0.55) = $103875
Total manufacturing cost for two jobs = $68325+$103875 = $172200
Answer:17
Total manufacturing cost for Job 101 = Direct material + direct labor + overhead cost
= 12000+24000 + (24000*0.80) = $55200
Total manufacturing cost for Job 102= Direct material + direct labor + overhead cost
=15000+ 45000+ (45000*0.80) = $96000
Total manufacturing cost for two jobs = $55200+$96000 = $151200
Answer:18
Overhead rate = Overhead cost/ Direct labour hours
=570000/95000 = $6 per DLH
Overhead cost to be allocated to work in process during the month = 25000 hours *$6 per DLH = $150000
Answer:19
Total manufacturing cost for Job 101 = Direct material + direct labor + overhead cost
= 12000+24000 + (24000*0.80) = $55200
Total manufacturing cost for Job 102= Direct material + direct labor + overhead cost
=15000+ 45000+ (45000*0.80) = $96000
Total manufacturing cost for two jobs = $55200+$96000 = $151200
Answer:21
Transferred cost of goods manufactured from work in process to finished goods inventory is the correct answer.
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