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Cost_Acct_Questions_16 Sept

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Question;1.;Westan;Corporation uses a predetermined overhead rate of $23.10 per direct;labor-hour. This predetermined rate was based on a cost formula that;estimated $277,200 of total manufacturing overhead for an estimated activity;level of 12,000 direct labor-hours.;The;company incurred actual total manufacturing overhead costs of $266,000 and;12,600 total direct labor-hours during the period.;Required;Determine the amount of;manufacturing overhead that would have been applied to all jobs during the;period.;2.;Kirkaid;Company recorded the following transactions for the just completed month;a.;$84,000 in raw materials were;requisitioned for use in production. Of this amount, $72,000 was for direct;materials and the remainder was for indirect materials.;b.;Total labor wages of $108,000 were;incurred. Of this amount, $105,000 was for direct labor and the remainder was;for indirect labor.;c.;Additional;actual manufacturing overhead costs of $197,000 were incurred.;d.;A total of $218,000 in;manufacturing overhead was applied to jobs.;Required;Determine the under-applied or;over-applied overhead for the month.;3.;A company;assigns overhead cost to completed jobs on the basis of 120% of direct labor;cost. The job cost sheet for Job 413 shows that $12,000 in direct materials;has been used on the job and that $8,000 in direct labor cost has been;incurred. A total of 200 units were produced in Job 413.;Required;a.;What is the total manufacturing;cost assigned to Job 413?;b.;What is the unit product cost for;Job 413?

 

Paper#45169 | Written in 18-Jul-2015

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