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Exam 2: Job-Order Costing: Calculating Unit Product Costs

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Question 71

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The amount of overhead applied to Job K332 is closest to:

A) $812
B) $350
C) $462
D) $1,162

E) A) and D)
F) C) and D)

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Question 72

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Crowson Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.The company based its predetermined overhead rate for the current year on the following data: Required: Calculate the predetermined overhead rate for the year.

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Estimated total manufacturing overhead c...

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Question 73

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The amount of overhead applied to Job M800 is closest to:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.That predetermined manufacturing overhead rate is closest to:

Sullen Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year.The company has provided the following data for the most recent year. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period.

Bulla 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: During the current month the company started and finished Job K369.The following data were recorded for this job: Required: Calculate the total amount of overhead applied to Job K369 in both departments.

The unit product cost for Job P951 is closest to:

The amount of overhead applied in the Customizing Department to Job T272 is closest to:

The predetermined overhead rate is closest to:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job G is closest to:

The amount of overhead applied in the Customizing Department to Job T898 is closest to:

If the overhead rate is computed annually based on the actual costs and activity for the year, the manufacturing overhead assigned to any particular job can be computed as soon as the job is completed.

Most countries require some form of absorption costing for external reports.

Linnear Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.The company based its predetermined overhead rate for the current year on the following data: Required: Calculate the estimated total manufacturing overhead for the year.

The amount of overhead applied to Job X455 is closest to:

The costs attached to products that have not been sold are included in ending inventory on the balance sheet.

The predetermined overhead rate is closest to:

Prayer 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: The estimated total manufacturing overhead for the Machining Department is closest to:

Kluth Corporation has two manufacturing departments--Molding and Customizing.The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job C and Job M.There were no beginning inventories.Data concerning those two jobs follow: Required: Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 20% on manufacturing cost to establish selling prices.Calculate the selling prices for Job C and for Job M.

Mcewan 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 20,000 direct labor-hours, total fixed manufacturing overhead cost of $182,000, and a variable manufacturing overhead rate of $2.50 per direct labor-hour.Job X941, which was for 50 units of a custom product, was recently completed.The job cost sheet for the job contained the following data: Required: Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%.