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

Vasilopoulos 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 A182.The following data were recorded for this job: Required: a.Calculate the estimated total manufacturing overhead for the Casting Department. b.Calculate the estimated total manufacturing overhead for the Assembly Department. c.Calculate the predetermined overhead rate for the Casting Department. d.Calculate the predetermined overhead rate for the Assembly Department. e.Calculate the total amount of overhead applied to Job A182 in both departments. f.Calculate the total job cost for Job A182. g.Calculate the selling price for Job A182 if the company marks up its unit product costs by 20% to determine selling prices.

Job 243 was recently completed.The following data have been recorded on its job cost sheet: The company applies manufacturing overhead on the basis of machine-hours.The predetermined overhead rate is $11 per machine-hour. Required: Compute the unit product cost that would appear on the job cost sheet for this job.

Kostelnik 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 $237,000, variable manufacturing overhead of $3.90 per machine-hour, and 30,000 machine-hours. The company has provided the following data concerning Job A496 which was recently completed: -The unit product cost for Job A496 is closest to:

Heroux Corporation has two manufacturing departments--Forming and Customizing. 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 H. 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 A is closest to:

Boward Corporation has two production departments,Milling and Assembly.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 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 T818.The following data were recorded for this job: The total amount of overhead applied in both departments to Job T818 is closest to:

In absorption costing,nonmanufacturing costs are assigned to units of product.

Huang Aerospace Corporation manufactures aviation control panels in two departments,Fabrication and Assembly.In the Fabrication department,Huang uses a predetermined overhead rate of $30 per machine-hour.In the Assembly department,Huang uses a predetermined overhead rate of $12 per direct labor-hour.During the current year,Job #X2984 incurred the following number of hours in each department: What is the total amount of manufacturing overhead that Huang should have applied to Job #X2984 during the current year?

Opunui Corporation has two manufacturing departments--Molding 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 M. 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 M is closest to:

Fatzinger Corporation has two production departments,Milling and Assembly.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 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: The predetermined overhead rate for the Assembly 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: -The total amount of overhead applied in both departments to Job K928 is closest to:

Parido 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: During the most recent month,the company started and completed two jobs--Job A and Job H.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 H is closest to:

Tarrant 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: 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 Casting Department is closest to:

Janicki Corporation has two manufacturing departments--Machining and Customizing. 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 J. 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 and uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job J is closest to:

Heroux Corporation has two manufacturing departments--Forming and Customizing. 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 H. 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 H is closest to:

Sutter 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 T369 was completed with the following characteristics: If the company marks up its unit product costs by 20% then the selling price for a unit in Job T369 is closest to:

Doakes 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 M843 was completed with the following characteristics: The unit product cost for Job M843 is closest to:

Cannizzaro 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 40,000 machine-hours,total fixed manufacturing overhead cost of $248,000,and a variable manufacturing overhead rate of $3.80 per machine-hour. Required: Calculate the predetermined overhead rate for the year.

Bulla 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 K369.The following data were recorded for this job: Required: Calculate the total amount of overhead applied to Job K369 in both departments.

Quiet 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 40,000 machine-hours,total fixed manufacturing overhead cost of $152,000,and a variable manufacturing overhead rate of $3.10 per machine-hour. Required: Calculate the estimated total manufacturing overhead for the year.

Gerstein 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 $90,000, variable manufacturing overhead of $3.70 per direct labor-hour, and 50,000 direct labor-hours. The company recently completed Job M800 which required 150 direct labor-hours. -The predetermined overhead rate is closest to: