Homework Answers
| Total estimated manufacturing overheads (a) | $1,970,000 |
| Total estimated direct labor hours (b) | 49,250 |
| Predetermined overhead rate (a/b) | $40 |
| Direct materials added during the March: | |
| Job # 134 | $3,000 |
| Job # 158 | $2,700 |
| Job # 212 | $86,400 |
| Job # 287 | $71,700 |
| Job # 301 | $18,900 |
| Direct labor added during the March: | |
| Job # 134 | $8,200 |
| Job # 158 | $12,120 |
| Job # 212 | $36,400 |
| Job # 287 | $31,820 |
| Job # 301 | $21,895 |
| Actual overheads incurred in March | $176,000 |
| Total manufacturing costs for March | $469,135 |
| Job # 134 | Job # 158 | Job # 212 | Job # 287 | Job # 301 | |
| Direct materials cost | $3,000 | $2,700 | $86,400 | $71,700 | $18,900 |
| Add: Direct labor cost | $8,200 | $12,120 | $36,400 | $31,820 | $21,895 |
| Add: Manufacturing overhead cost (140 direct labor hours * $40); (390*$40); (3,440*$40); (2,680*$40); (1,460*$40) | $5,600 | $15,600 | $137,600 | $107,200 | $58,400 |
| Total Cost | $16,800 | $30,420 | $260,400 | $210,720 | $99,195 |
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Bonita Company produces high quality microscopes for education and health care uses. The company uses a...
Problem 4-26 (Part Level Submission) Swifty Company produces high-quality microscopes for education and health care uses....
Problem 4-26 (Part Level Submission) Swifty Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2017, the company estimated its manufacturing overhead would be $1,950,000 and that employees would work a total of 48,750 direct labor hours. During March, the company...
Swifty Company produces high-quality microscopes for education and health care uses. The company uses a job...
Swifty Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2021, the company estimated its manufacturing overhead would be $1,960,000 and that employees would work a total of 78,400 direct labor hours. During March, the company worked on the following five...
1. calculate the cost of goods manufactured for march 2. calculate the balance in the work...
1. calculate the cost of goods manufactured for march
2. calculate the balance in the work in progress inventory
account as of march 31.
3. calculate the cost of goods sold for march.
4. calculate the balance in the finished goods inventory
account as of march 31.
Bonita Company produces high quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict...
Bonita Company uses a job order cost system and applies overhead to production on the basis...
Bonita Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1. 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21.200 direct labor $ 12.720. and manufacturing overhead S 16.960. As of January 1, Job 49 had been completed at a cost of $ 95.400 and was part of finished goods inventory. There...
Bonita Company uses a job order cost system and applies overhead to production on the basis...
Bonita Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 21,200 direct labor $ 12,720, and manufacturing overhead $ 16,960. As of January 1, Job 49 had been completed at a cost of $ 95,400 and was part of finished goods inventory....
Bonita Company uses a job order cost system. On May 1, the company has a balance...
Bonita Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $3,890 and
two jobs in process: Job No. 429 $2,540, and Job No. 430 $1,350.
During May, a summary of source documents reveals the following.
Job Number Materials Requisition Slips Labor Time Tickets 429
$2,980 $2,100 430 4,000 3,500 431 4,560 $11,540 7,700 $13,300
General use 900 1,670 $12,440 $14,970 Bonita Company applies
manufacturing overhead to jobs at...
[The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress...
[The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labor hours. The following additional information is available for the company as...
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories....
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data...
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories....
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data...
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories....
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data...
Problem 4-26 (Part Level Submission) Swifty Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2017, the company estimated its manufacturing overhead would be $1,950,000 and that employees would work a total of 48,750 direct labor hours. During March, the company...
Swifty Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2021, the company estimated its manufacturing overhead would be $1,960,000 and that employees would work a total of 78,400 direct labor hours. During March, the company worked on the following five...
1. calculate the cost of goods manufactured for march
2. calculate the balance in the work in progress inventory
account as of march 31.
3. calculate the cost of goods sold for march.
4. calculate the balance in the finished goods inventory
account as of march 31.
Bonita Company produces high quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict...
Bonita Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1. 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21.200 direct labor $ 12.720. and manufacturing overhead S 16.960. As of January 1, Job 49 had been completed at a cost of $ 95.400 and was part of finished goods inventory. There...
Bonita Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 21,200 direct labor $ 12,720, and manufacturing overhead $ 16,960. As of January 1, Job 49 had been completed at a cost of $ 95,400 and was part of finished goods inventory....
Bonita Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $3,890 and
two jobs in process: Job No. 429 $2,540, and Job No. 430 $1,350.
During May, a summary of source documents reveals the following.
Job Number Materials Requisition Slips Labor Time Tickets 429
$2,980 $2,100 430 4,000 3,500 431 4,560 $11,540 7,700 $13,300
General use 900 1,670 $12,440 $14,970 Bonita Company applies
manufacturing overhead to jobs at...
[The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labor hours. The following additional information is available for the company as...
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data...
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