Homework Answers
| Office Plus Furniture | ||
| Job Order Cost and Margin Record | ||
| Job #6253 for Prestige WorldWide | ||
| Number of Tables | 10 | 1 |
| Sales Price | 7200 | 720 |
| Direct Labor | 1200 | 120 |
| Direct Material | 2400 | 240 |
| Manufacturing Overhead | 700 | 70 |
| Total Product Cost | 4300 | 430 |
| Gross Profit | 2900 | 290 |
| Gross Margin | 40.3% | 40.3% |
Workings:
| Particulars | 10 Tables | 1 Table (Per unit) | |
| a | Sales Price | $720 x 10=$7200 | $720 x 1=$720 |
| b | Direct Labor | $120 x 10=$1200 | $120 x 1=$120 |
| c | Direct Material | $240 x 10=$2400 | $240 x 1=$240 |
| d | Manufacturing Overhead | $70 x 10=$700 | $70 x 1=$70 |
| e | Total Product Cost =(b+c+d) | $1200+$2400+$700=$4300 | $120+$240+$70=$430 |
| f | Gross Profit=(a-e) | $7200-$4300=$2900 | $720-$430=$290 |
| g | Gross Margin(f/a*100) | ($2900/$7200 x 100)=40.3% | ($290/$720 x 100)=40.3% |
Add Answer to:
Engli Take me to the text Office Plus Furniture has just completed building 10 tables for...
Roberts Fine Furniture Builds coffee tables to specification based on custom orders. The company's direct materials...
Roberts Fine Furniture Builds coffee tables to specification
based on custom orders. The company's direct materials are hardwood
and glass. Incidental hardware (wood screws, table leg "feet,"
etc.) are accounted for as indirect material.
Roberts Fine Furniture builds coffee tables to specification based on custom orders. The company's direct materials are hardwood and glass. Incidental hardware (wood screws, table leg "feet," etc.) are accounted for as indirect material. The company has a small but highly skilled labor force. There was...
ACNT-2309: Master Budgeting - Class Project: • Premium Furniture sells two models of granite-top coffee tables:...
ACNT-2309: Master Budgeting - Class Project: • Premium Furniture sells two models of granite-top coffee tables: Casual and Deluxe. Assume that FIFO is used for costing inventory There are two types of direct materials: red oak (RO) and granite slabs (GS). Direct material costs are variable with respect to units of output-coffee tables. Direct manufacturing labor workers are hired on an hourly basis; no overtime is worked There are two cost drivers for manufacturing overhead costs-direct manufacturing labor-hours and setup...
WoodGrain Technology makes home office furniture from fine hardwoods. The company uses a job-order costing system...
WoodGrain Technology makes home office furniture from fine hardwoods. The company uses a job-order costing system and predetermined overhead rates to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Preparation Department is based on direct material costs, and the rate in the Fabrication Department is based on direct labour hours. At the beginning of the year, the company’s management made the following estimates for the year: Department Preparation Fabrication Machine-hours 80,000 21,000 Direct labour-hours 35,000...
32. Analyze Brady Furniture Company’s job costs Brady Furniture Company manufactures wooden oak furniture. The company...
32. Analyze Brady Furniture Company’s job costs Brady Furniture Company manufactures wooden oak furniture. The company employs a job cost system to trace manufacturing costs to jobs. Each job represents a batch of furniture of the same type. Information regarding direct materials on selected jobs throughout the year is as follows: Job No. Date Count Style Board Feet Cost per Board Foot Total Direct Materials Cost per Job Job 102 Jan. 20 20 Dining tables 400 $5.00 $2,000 Job 106...
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the...
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs Work in Process Balance on 3/1 $ 4,400 Job 33 Job 34 $ 8,000 Source documents revealed the following during March Materials Labor Time Requisitions Tickets Forms 2,500 4,300 Completed and sold Status of Job at Month-End Job 33 Job 34 Job 35 Indirect 3,000 4,500...
The Dougherty Furniture Company manufactures tables. In March, the two production departments had budgeted allocation bases...
The Dougherty Furniture Company manufactures tables. In March, the two production departments had budgeted allocation bases of 5,000 machine-hours in Department 100 and 10,000 direct manufacturing labor-hours in Department 200. The budgeted manufacturing overheads for the month were $75,000 and $80,000, respectively. For Job A, the actual costs incurred in the two departments were as follows: Department 100 Department 200 Direct materials purchased on account $110,000 $177,500 Direct materials used 32,500 13,500 Direct manufacturing labor 52,500 53,500 Indirect manufacturing labor 8,000 9,000 Indirect materials used 1,500 1,750 Lease on...
Can someone please help with this problem? Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer,...
Can someone please help with this problem?
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Job 33 Job 34 Balance on 3/1 $ 4,800 5,000 $9,800 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $ 3,300 $5,300 Completed and...
Please help me!! thank you! QUESTION 1 Step 1 You work for Thunderduck Custom Tables Inc....
Please help me!! thank you!
QUESTION 1 Step 1 You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures the customer. This month, you have been asked to develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, and no glue manufacturing (no indirect materials used). You will be keeping track of the costs incurred to manufacture the tables...
A cut Copy - Format Painter Clipboard 10 AA EE a. A BIU Wrap Text Merge...
A cut Copy - Format Painter Clipboard 10 AA EE a. A BIU Wrap Text Merge & Center - E Accounting $ - %, 85 Alignment Number B27 - B DE F 1 Chapter 7: Applying Excel 3 Data 4 Manufacturing overhead 5 Selling and administrative overhead 6 $500,000 $300,000 Assembling Processing Units Orders 50% 35% 10% 45% 1.000 units orders 8 Manufacturing overhead 9 Selling and administrative overhead 10 Total activity 11 Supporting Customers 5% 25% 100 customers Other...
The following costs were incurred in February by Container Corp., which produces customized steel storage bins:...
The following costs were incurred in February by Container Corp., which produces customized steel storage bins: Direct material purchased on account $197,600 Direct material used for jobs: Job #217 $116,480 Job #218 18,720 Other jobs 139,360 274,560 Direct labor costs for month: Job #217 $27,040 Job #218 36,400 Other jobs 50,960 114,400 Actual overhead costs for February 572,000 The balance in Work in Process Inventory on February 1 was $43,680, which consisted of $29,120 for Job #217 and $14,560 for...
Roberts Fine Furniture Builds coffee tables to specification
based on custom orders. The company's direct materials are hardwood
and glass. Incidental hardware (wood screws, table leg "feet,"
etc.) are accounted for as indirect material.
Roberts Fine Furniture builds coffee tables to specification based on custom orders. The company's direct materials are hardwood and glass. Incidental hardware (wood screws, table leg "feet," etc.) are accounted for as indirect material. The company has a small but highly skilled labor force. There was...
ACNT-2309: Master Budgeting - Class Project: • Premium Furniture sells two models of granite-top coffee tables: Casual and Deluxe. Assume that FIFO is used for costing inventory There are two types of direct materials: red oak (RO) and granite slabs (GS). Direct material costs are variable with respect to units of output-coffee tables. Direct manufacturing labor workers are hired on an hourly basis; no overtime is worked There are two cost drivers for manufacturing overhead costs-direct manufacturing labor-hours and setup...
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs Work in Process Balance on 3/1 $ 4,400 Job 33 Job 34 $ 8,000 Source documents revealed the following during March Materials Labor Time Requisitions Tickets Forms 2,500 4,300 Completed and sold Status of Job at Month-End Job 33 Job 34 Job 35 Indirect 3,000 4,500...
Can someone please help with this problem?
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Job 33 Job 34 Balance on 3/1 $ 4,800 5,000 $9,800 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $ 3,300 $5,300 Completed and...
Please help me!! thank you!
QUESTION 1 Step 1 You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures the customer. This month, you have been asked to develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, and no glue manufacturing (no indirect materials used). You will be keeping track of the costs incurred to manufacture the tables...
A cut Copy - Format Painter Clipboard 10 AA EE a. A BIU Wrap Text Merge & Center - E Accounting $ - %, 85 Alignment Number B27 - B DE F 1 Chapter 7: Applying Excel 3 Data 4 Manufacturing overhead 5 Selling and administrative overhead 6 $500,000 $300,000 Assembling Processing Units Orders 50% 35% 10% 45% 1.000 units orders 8 Manufacturing overhead 9 Selling and administrative overhead 10 Total activity 11 Supporting Customers 5% 25% 100 customers Other...
The following costs were incurred in February by Container Corp., which produces customized steel storage bins: Direct material purchased on account $197,600 Direct material used for jobs: Job #217 $116,480 Job #218 18,720 Other jobs 139,360 274,560 Direct labor costs for month: Job #217 $27,040 Job #218 36,400 Other jobs 50,960 114,400 Actual overhead costs for February 572,000 The balance in Work in Process Inventory on February 1 was $43,680, which consisted of $29,120 for Job #217 and $14,560 for...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago