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27/08/2022
“Franks Fabricating uses job costing and applies overhead using a normal costing system and uses direct labor cost as the allocation base. This period’s estimated overhead cost is $100,000 and estimated direct labor cost of $50,000 and 2,500 direct labor hours.DirectDirectDirectMaterialsLabor CostLabor HoursJob 200 500$ 80040Job 201350 200 10Job 202 1,000 600 30Reference: Ref 5-1What is the overhead allocation rate?30%50%60%200%O’Hare Sisters Manufacturing uses job costing and applies overhead using a normal costing system using direct labor hours as the allocation base. This period’s estimated overhead cost is $400,000, estimated direct labor cost is $500,000 and estimated direct labor hours are 25,000. This period actual overhead cost was $420,000, actual direct labor cost was $390,000, and actual direct labor hours were 20,000.DirectDirectDirectMaterialsLabor CostLabor HoursJob 400200$ 80040Job 401250 200 10Job 402 500 600 32Reference: Ref 5-2What is the total manufacturing cost of Job 400?$1,200$1,320$1,000$1,6409(M/C)Kelita’s Kar Kare Kompany had the following cost and inventory data for the month. Reference: Ref 5-5What were the direct materials available for the month?$7,800$4,500$6,300$6,000 11(M/C)Kelita’s Kar Kare Kompany had the following cost and inventory data for the month. Reference: Ref 5-5Assume that the total production costs incurred for the month were $15,000. What was the cost of jobs completed?$19,050$15,450$15,000$14,550Asadi Company uses a job costing system and allocates overhead using an estimated overhead allocation rate based on direct labor hours. Information for 20×5 is as follows:EstimatedActualManufacturing overhead$166,500$165,000Direct labor hours50,00060,000Reference: Ref 5-6The overhead allocated to work-in-process during 20×5 before the year-end adjustment was$165,000$199,800$166,500$198,00015(M/C)Asadi Company uses a job costing system and allocates overhead using an estimated overhead allocation rate based on direct labor hours. Information for 20×5 is as follows:EstimatedActualManufacturing overhead$166,500$165,000Direct labor hours50,00060,000Reference: Ref 5-6The amount of over- or underapplied overhead for 20×5 was$34,800 overapplied$3,000 underapplied$1,500 overapplied$1,500 underapplied”- Sent to Accounting Expert Tutor on 4/2/2011 at 3:50pm
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