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

Pangle Corporation has two production departments,Forming and Customizing.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 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 M109.The following data were recorded for this job: Required: Calculate the total job cost for Job M109.

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 predetermined overhead rate for the Customizing Department is closest to:

Ahlheim Corporation has two production departments, Forming and Assembly. 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 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 T924. The following data were recorded for this job: -The estimated total manufacturing overhead for the Forming Department is closest to:

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 estimated total manufacturing overhead is closest to:

Dancel 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: During the current month the company started and finished Job M565.The following data were recorded for this job: Required: a.Calculate the total amount of overhead applied to Job M565 in both departments. b.Calculate the total job cost for Job M565. c.Calculate the selling price for Job M565 if the company marks up its unit product costs by 20% to determine selling prices.

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 unit product cost for Job M825 is closest to:

Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year.At the beginning of the most recently completed year,the company estimated the labor-hours for the upcoming year at 66,000 labor-hours.The estimated variable manufacturing overhead was $8.41 per labor-hour and the estimated total fixed manufacturing overhead was $1,533,180.The actual labor-hours for the year turned out to be 68,400 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year.

Branin 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 $160,000, variable manufacturing overhead of $3.40 per direct labor-hour, and 80,000 direct labor-hours. The company has provided the following data concerning Job A578 which was recently completed: -The predetermined overhead rate is closest to:

Jurica Corporation has two production departments, Forming and Customizing. 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 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 predetermined overhead rate for the Customizing Department is closest to:

Lueckenhoff 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 $497,000, variable manufacturing overhead of $2.40 per direct labor-hour, and 70,000 direct labor-hours. The company has provided the following data concerning Job T498 which was recently completed: -The total job cost for Job T498 is closest to:

Coates 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 $249,000,variable manufacturing overhead of $3.80 per machine-hour,and 30,000 machine-hours.The company has provided the following data concerning Job X784 which was recently completed: If the company marks up its unit product costs by 30% then the selling price for a unit in Job X784 is closest to:

Whitlatch 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 M238 was completed with the following characteristics: Required: Calculate the total job cost for Job M238.