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

Bolander 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: Recently, Job M825 was completed with the following characteristics: -The total job cost for Job M825 is closest to:

-Job 910 was recently completed.The following data have been recorded on its job cost sheet: The Corporation applies manufacturing overhead on the basis of machine-hours.The predetermined overhead rate is $15 per machine-hour.The total cost that would be recorded on the job cost sheet for Job 910 would be:

Beans 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 total fixed manufacturing overhead cost of $162,000, variable manufacturing overhead of $2.80 per direct labor-hour, and 60,000 direct labor-hours. Recently, Job K818 was completed with the following characteristics: -The unit product cost for Job K818 is closest to:

Dejarnette 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: -The estimated total manufacturing overhead is closest to:

Levron 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 total fixed manufacturing overhead cost of $58,000, variable manufacturing overhead of $2.00 per machine-hour, and 20,000 machine-hours. The company has provided the following data concerning Job P978 which was recently completed: -The amount of overhead applied to Job P978 is closest to:

Brothern Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year.Data for the most recently completed year appear below: The predetermined overhead rate for the recently completed year was closest to:

Barbeau Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling 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 A492. The following data were recorded for this job: -The estimated total manufacturing overhead for the Customizing Department is closest to:

Kreuzer Corporation is using a predetermined overhead rate of $22.30 per machine-hour that was based on estimated total fixed manufacturing overhead of $446,000 and 20,000 machine-hours for the period.The company incurred actual total fixed manufacturing overhead of $409,000 and 18,200 total machine-hours during the period.The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:

Mccaughan Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year.Data for the most recently completed year appear below: Required: Compute the company's predetermined overhead rate for the recently completed year.

Lupo 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: Recently, Job T687 was completed with the following characteristics: -The predetermined overhead rate is closest to:

A cost driver is a factor,such as machine-hours,beds occupied,computer time,or flight-hours,that causes direct costs.

Merati Corporation has two manufacturing departments--Forming and Assembly. 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 B and Job L. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments.The departmental predetermined overhead rate in the Forming Department is closest to:

Dietzen Corporation has two manufacturing departments--Casting and Finishing.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 D and Job J.There were no beginning inventories.Data concerning those two jobs follow: Required: a.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job D. b.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job J.

Dehner 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 the following data: Recently, Job P951 was completed with the following characteristics: -The unit product cost for Job P951 is closest to:

Teasley 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 70,000 machine-hours,total fixed manufacturing overhead cost of $630,000,and a variable manufacturing overhead rate of $3.40 per machine-hour.Job X159 was recently completed.The job cost sheet for the job contained the following data: Required: Calculate the total job cost for Job X159.

Petty Corporation has two production departments, Milling and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Finishing 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 Milling Department is closest to:

Levi Corporation uses a predetermined overhead rate of $23.40 per direct labor-hour.This predetermined overhead rate was based on estimated total fixed manufacturing overhead of $702,000 and 30,000 direct labor-hours for the period.The company incurred actual total fixed manufacturing overhead of $738,000 and 27,100 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.

Tiff Corporation has two production departments, Casting and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Assembly 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 P131. The following data were recorded for this job: -The predetermined overhead rate for the Casting Department is closest to:

Alsobrooks 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: Recently Job M242 was completed with the following characteristics: Required: a.Calculate the total job cost for Job M242. b.Calculate the unit product cost for Job M242.

Columbo Corporation has two production departments,Forming and Finishing.The company uses a job-order costing system and computes a predetermined overhead rate in each production department.The Forming Department's predetermined overhead rate is based on machine-hours and the Finishing 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 A948.The following data were recorded for this job: If the company marks up its manufacturing costs by 40% then the selling price for Job A948 would be closest to: