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

Pebbles 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 A and Job L.There were no beginning inventories.Data concerning those two jobs follow: Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job L is closest to:

Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining 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 K928. The following data were recorded for this job: -The predetermined overhead rate for the Machining Department is closest to:

Rondo 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 T506 was completed with the following characteristics: Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job T506. d.Calculate the total job cost for Job T506. e.Calculate the unit product cost for Job T506. f.Calculate the selling price for Job T506 if the company marks up its unit product costs by 20%.

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 predetermined overhead rate for the Finishing Department is closest to:

Hickingbottom 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 M381. The following data were recorded for this job: -The predetermined overhead rate for the Forming Department is closest to:

Claybrooks Corporation has two manufacturing departments--Casting and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.That predetermined manufacturing overhead rate is closest to:

Collini Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining 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 T268. The following data were recorded for this job: -If the company marks up its manufacturing costs by 40% then the selling price for Job T268 would be closest to:

Garza Corporation has two production departments, Casting and Customizing. 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 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: -The estimated total manufacturing overhead for the Customizing Department is closest to:

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 production departments.The manufacturing overhead applied to Job B is closest to:

Carcana Corporation has two manufacturing departments--Machining and Finishing.The company used the following data at the beginning of the period to calculate predetermined overhead rates: During the period,the company started and completed two jobs--Job E and Job G.Data concerning those two jobs follow: Required: a.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments.What is the departmental predetermined overhead rate in the Machining department? b.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.What is the departmental predetermined overhead rate in the Finishing department? c.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job E? d.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job G? e.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices.Calculate the selling price for Job E. f.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices.Calculate the selling price for Job G. g.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.If both jobs were sold during the month,what was the company's cost of goods sold for the month?

Verry 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 X711 was completed and required 90 direct labor-hours. Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job X711.

Helland 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: The predetermined overhead rate is closest to:

Actual overhead costs are not assigned to jobs in a job costing system.

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 estimated total manufacturing overhead is closest to:

Macnamara 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 F and Job M. 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 production departments.Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job M is closest to:

Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining 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 T272. The following data were recorded for this job: -The estimated total manufacturing overhead for the Customizing Department is closest to:

Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining 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 K928. The following data were recorded for this job: -If the company marks up its manufacturing costs by 20% then the selling price for Job K928 would be closest to:

Leadley 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 X701 was completed with the following characteristics: Required: a.Calculate the estimated total manufacturing overhead for the year. b.Calculate the predetermined overhead rate for the year. c.Calculate the amount of overhead applied to Job X701. d.Calculate the total job cost for Job X701.

Morataya Corporation has two manufacturing departments--Machining 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 G. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job B is closest to:

Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining 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 T272. The following data were recorded for this job: -The estimated total manufacturing overhead for the Machining Department is closest to: