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

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:

The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs.The predetermined overhead rate is based on labor cost in Dept.A and on machine-hours in Dept.B.At the beginning of the year, the Corporation made the following estimates: What predetermined overhead rates would be used in Dept.A and Dept.B, respectively?

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.That predetermined manufacturing overhead rate is closest to:

Braegelmann 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 K246.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 amount of overhead applied in the Casting Department to Job K246. f.Calculate the amount of overhead applied in the Assembly Department to Job K246. g.Calculate the total job cost for Job K246. h.Calculate the selling price for Job K246 if the company marks up its unit product costs by 40% to determine selling prices.

Obermeyer 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 10,000 direct labor-hours, total fixed manufacturing overhead cost of $96,000, and a variable manufacturing overhead rate of $3.60 per direct labor-hour.Job A735, which was for 40 units of a custom product, was recently completed.The job cost sheet for the job contained the following data: Required: a.Calculate the amount of overhead applied to Job A735. b.Calculate the total job cost for Job A735. c.Calculate the unit product cost for Job A735.

The amount of overhead applied to Job P978 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:

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:

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.

Kavin Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year.The company has provided the following data for the most recent year. The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:

The total job cost for Job K928 is closest to:

Sonneborn Corporation has two manufacturing departments--Molding 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 D and Job G.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 amount of manufacturing overhead applied to Job D. b.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job G. 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 D? 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?

In a job-order costing system that is based on machine-hours, which of the following formulas is correct?

The predetermined overhead rate is closest to:

Swango 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:

The amount of overhead applied to Job A578 is closest to:

The unit product cost for Job T498 is closest to:

The total job cost for Job M825 is closest to:

In a job-order costing system, costs are traced to individual units of product.The sum total of such traced costs is called the unit product cost.

The amount of overhead applied in the Assembly Department to Job A460 is closest to: