ABC Company manufactures chairs to the exacting specifications of various customers. During January 2020, Job 123 for the production of 1,100 chairs was completed at the following costs per unit: Direct materials P10 Direct labor 8 Applied factory overhead Total P30 Final inspection of Job 123 disclosed 50 defective units and 100 spoiled units. The defective chairs were reworked at a total cost of P500, and the spoiled chairs were sold to a jobber for P1,500. What would be the unit cost of the good units produced on Job 123?
Q: Martin Company received an order for 25 automatic mixing machines. Because of the order's exacting…
A: Total original cost = (materials cost + labor cost + manufacturing overhead) x no. of units =…
Q: Mcfarlain Corporation is presently making part U98 that is used in one of its products. A total of…
A: Relevant Cost - It is cost for relevant to decision. A matter of cost is relevant if there is a…
Q: Tools Company manufactures electric drills to the exacting specifications of various customers.…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: The Talbott Company has received an order (#324) for 100 widgets. On January 20 the shop supervisor…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Philantro Metal Shop, manufactures metal products that require casting, such as engine blocks,…
A: The question is related to determination of Selling price of good units if the spoilage is…
Q: Martin Company received an order for 25 automatic mixing machines. Because of the order's exacting…
A: sales order 25 material 80 per unit labour 194 per unit overhead 100% of labour
Q: War Room Company manufactures fire extinguisher per the design and specification of its customers,…
A: Rework is process of correcting defective and non confirming item after inspection.
Q: The Beacon Hills High School entered into a contract with Beacon Printing Services which stipulates…
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…
Q: Gueess Aparel completed 3,600 expensive bags during the 1st quarter of the current year. The…
A: Gross profit refers to the profits of any business which is result of deduction of all costs which…
Q: Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin,…
A:
Q: Recher Corporation uses part Q89 In one of Its products. The company's Accountlng Department reports…
A: working note : (7,100 units @ $7.50 per unit) = $53250 (7,100units @ $4.10 per unit) = $29100…
Q: War Room Company manufactures fire extinguisher per the design and specification of its customers,…
A: Gross profit rate = Gross profit / Sales Selling price per unit = Cost per unit + Gross profit per…
Q: NUBD Co. manufactures lifting equipment. One order from HFL Co. for 200 lifting equipment showed the…
A: The total cost includes direct materials, direct labor and Factory overhead cost.
Q: Big Company manufactures electric drills to the exact specifications of various customers. During…
A: JOB COSTING: It is an accounting method designed to help you track the cost of individual projects…
Q: The Talbott Company has received an order for 100 widgets. On January 20 the shop supervisor…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Viber Company manufactures electric drills to the exacting specifications of various customers.…
A: Cost per unit means the cost incurred to produce one unit. Any expenses incurred to rectified the…
Q: KW Inc. manufactured coil over springs for cars. During this year, KW Inc. manufactured 200 units…
A: Cost of reworked = (Direct material + labor + overhead) x no. of units = (100+160+160*150%)*15 =…
Q: Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin,…
A: Scrap: Scrap is basically the residual material that left after the manufacturing of a product.…
Q: Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin,…
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: Martin Company received an order for 25 automatic mixing machines. Because of the order's exacting…
A: Original costs = (Material cost + labor cost + manufacturing overhead) x no. of units =…
Q: What is the unit cost of the goods transferred to storeroom if the rework costs are charged to the…
A:
Q: Case Inc. is a construction company specializing in custom patios. The patios are constructed of…
A: Work in Process Inventory account is prepared from which completion inventory will be transferred to…
Q: Martin Company received an order for 25 automatic mixing machines. Because of the order's exacting…
A: Total original cost = (materials cost + labor cost + manufacturing overhead) x no. of units =…
Q: In preparation for the 2022 English Week Celebration, Beacon Hills High School Student’s council…
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…
Q: La Trinidad Metal Shop, manufactures metal products that require casting, such as engine blocks,…
A: Given information, Materials= P276,000 Labor (6,000hrs @ P14 per hour)= P84,000 factory overhead…
Q: Recher Corporation uses part Q89 In one of Its products. The company's Accounting Department reports…
A: Formula: Total cost = Direct materials + direct labor + variable overhead + supervisor salary Sum…
Q: Miracles Manufacturing Co. manufactures a lifting equipment. One order from Heaven Company for…
A: Solution Unit cost is a total expenditure incurred by a company to produce , store and sell one unit…
Q: SONA Co. received an order for 1,000 units of item AY-14. Because of the order’s exacting…
A: Cost per unit of finished product = Total cost / good Qty produced Total cost (in the given case) =…
Q: For numbers 6 to 8 Best Curtains, Inc. spent P350,400 including applied overhead on a job order of…
A: The sale proceeds of defective goods reduces the total cost of manufacture.
Q: Cycle Gear Corporation has Incurred the following costs on job W456, an order for 20 special…
A: Cost accounting process is the method that is used to know the different types of the cost related…
Q: FIND: Assume that the rework is due to customer’s specifications: How much should be charged to…
A: 1) The Amount that should be charged to work in process to record production before rework: Material…
Q: Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin,…
A:
Q: Razaque steels produces different steel products (product A, product B and product C). The primary…
A: In Standard costing system, a standard or estimated cost is calculated for each item like direct…
Q: Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin,…
A: Spoilage refers to the wastage or the loss of material occurred during the manufacturing of the…
Q: NIKE Inc. has completed the Job 101, containing 1,100 shoes, during 2016 at the following unit cost:…
A: Job costing, instead of operation costing, would be a way to record the costs of a production job. A…
Q: Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin,…
A:
Q: Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin,…
A: Spoilage refers to the wastage or the loss of material occurred during the manufacturing of the…
Q: KW Inc. manufactured coil over springs for cars. During this year, KW Inc. manufactured 200 units…
A: Cost of reworked = (Direct material + labor + overhead) x no. of units = (100+160+160*150%)*15 =…
Q: Kyralei Co. manufacture golf carts and other recreational equipment. One order for RAGC Corporation…
A: The cost of manufacturing a product is determined by adding material, labor and overhead costs. The…
Q: Ram furnitures produces chairs and tables in accordance with job orders from customers. Given below…
A: Normal Spoilage is the loss in value of goods during manufacturing process due to certainties.…
Q: Martin Company received an order for 25 automatic mixing machines. Because of the order's exacting…
A: Original costs = (Material cost + labor cost + manufacturing overhead) x no. of units =…
Q: Hamilton, Inc., manufactures boom boxes (music systems with radio, cassette, and compact disc…
A: 1. a. Indirect labor manufacturing cost that supports the manufacturing labor is an output level…
Q: Martin Company received an order for 25 automatic mixing machines. Because ofthe order's exacting…
A: Completed units are ones that have been finished in terms of raw materials, labor, and production…
Q: Big Company manufactures electric drills to the exact specifications of various customers. During…
A: Job costing is a method of costing in which all costs are assigned and calculated on the basis of…
Q: yan Roque Steel Company manufactures steel products. During the current period, an order or 30,000…
A: The question is related to Process Costing. The cost of good units to be calculated with the help of…
Q: Direct materials Direct labor Applied factory overhead P10 8 12 P30 Total Final inspection of Job…
A: Total Original costs = Total cost per unit x no. of units = P30 x 1100 units = P33,000
Q: Hamilton, Inc., manufactures boom boxes (music systems with radio, cassette, and compact disc…
A: Introduction Cost is the amount incurred on producing a product. It includes direct costs as well as…
Q: Zain Company produces pipes for concert-quality organs. Each job is unique. In April 2020, it…
A: (1) Computation of total cost for Job M1 Particular Amount Direct Material cost 78000 (+)…
Q: Cycle Gear Corporation has incurred the following costs on job W456, an order for 20 special…
A: In job costing, whenever material is required to complete specific job, it is withdrawn form the…
Step by step
Solved in 2 steps with 2 images
- ABC Company manufactures chairs to the exacting specifications of various customers. During January 2020, Job 123 for the production of 1,100 chairs was completed at the following costs per unit: Direct materials P10 Direct labor 8 Applied factory overhead Total 12 P30 Final inspection of Job 123 disclosed 50 defective units and 100 spoiled units. The defective chairs were reworked at a total cost of P500, and the spoiled chairs were sold to a jobber for P1,500. What would be the unit cost of the good units produced on Job 123? a. 32 b. 29.09SitChairwn Company manufactures chairs to the exacting specifications of various customers. During January 2020, Job 023 for the production of 1,100 was completed at the following costs per unit: Direct Materials 10 Direct Labor 8 Applied Factory Overhead 12 Final Inspection of the order dislosed 50 defective units and 100 spoiled units. The defective chairs were reworked at a total cost of $50 and the spoiled chairs were sold toa jobber for $150. What would be the unit cost of the good units produced?Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: DIRECT MATERIALS P10 DIRECT LABOR 8 APPLIED FACTORY OVERHEAD 12 TOTAL P30 Final inspection of Job 403 disclosed 50 defective units and 100 spoiled units. The defective units were reworked at a total cost of P500, and the spoiled units were sold to an employee for P1,500. What would be the unit cost of the good units produced on Job 403? SOLUTION MUST BE IN GOOD ACCOUNTING FORM. EXCEL FORM WILL ALSO BE GOOD!
- Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials P10 Direct labor 8 Applied factory overhead 12 P30 Total Final inspection of Job 403 disclosed 59 defective units and 100 spoiled units. The defective units were reworded at a total cost of P500, and the spoiled units were sold to an employee for P1,500. What would be the unit cost of the good units produced on Job 403?Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials 10 Direct labor 8 Applied factory overhead 12 Total 32 Final inspection of Job 403 disclosed 59 defective units and 100 spoiled units. The defective units were reworded at a total cost of P500, and the spoiled units were sold to an employee for P1,500. If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo) Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials 10 Direct labor 8 Applied…Big Company manufactures electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials 10 Direct labor 8 Applied factory overhead 12 Total 32 Final inspection of Job 403 disclosed 59 defective units and 100 spoiled units. The defective units were reworded at a total cost of P500, and the spoiled units were sold to an employee for P1,500. If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo)
- NCT COMPANY electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: DIRECT MATERIALS P10 DIRECT LABOR 8 APPLIED FACTORY OVERHEAD 12 TOTAL P30 Final inspection of Job 403 disclosed 50 defective units and 100 spoiled units. The defective units were reworked at a total cost of P500, and the spoiled units were sold to an employee for P1,500. If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo) SOLUTION MUST BE IN GOOD ACCOUNTING FORM. EXCEL FORM WILL ALSO BE GOOD!SMALL COMPANY electric drills to the exact specifications of various customers. During April 2020, Job 403 for the production of 1,100 units was completed at the following costs per unit: Direct materials P10Direct labor 8Applied factory overhead 12Total P30 The final inspection of Job 403 disclosed 59 defective units and 100 spoiled units. The defective units were reworded at a total cost of P500, and the spoiled units were sold to an employee for P1,500. If the spoilage is attributable to Job 202 only, what is the unit selling price of the good units? (round off to the nearest centavo)Harper Company’s Job 301 for the manufacture of 2,200 t-shirts was completed during August 2020 at the following unit costs: Direct materials P 20.00 Direct labor 18.00 Factory overhead (includes an allowance of P1 for spoiled work) 18.00 P 56.00 Final inspection of Job 301 discloses 200 spoiled t-shirts which were sold to a jobber for P6,000. Assume that spoilage loss is charged to all production during August. What would be the unit cost of the goods produced on Job 301? Assume that spoilage loss is attributable to exacting specification of Job 301 and is charged to this specific job. What would be the unit cost of the goods produced on Job 301?
- ABC Company’s Job 123 for the manufacture of 2,000 bags was completed during June 2022 at the following unit costs:· Direct Materials, P20· Direct Labor, P18· Overhead (including allowance of P1 for spoiled work), P18 Final inspection of Job 123 disclosed 100 spoiled bags which were sold to an online store for P1,985. Determine the total cost of completed units.Tools Company manufactures electric drills to the exacting specifications of various customers. During February 2014, Job 403 for the production of 1,100 drills was completed at the following cost per unit: P100 Direct materials Direct labor 80 Factory overhead Total 120 300 Final inspection of Job 403 disclosed 50 defective units and 100 units of normal spoilage. The defective drills were reworked at a total cost of P5,000 and the spoiled drills were sold to a jobber for P15,000. 17. The unit cost of the good units produced on Job 403 was: а. Р330 b. Р320 с. Р300 d. P290Assume that the defective goods were charged to all jobs, what is the cost transferred to finish goods at the end of the year? KW Inc. manufactured coil over springs for cars. During this year, KW Inc. manufactured 200 units coil over springs. After final inspection, it was determined that 15 units were defective. The cost per unit to rework the defective units were the following: P100 for direct materials, P160 for direct labor and the appropriate factory overhead rate. The following were the unit cost for the 200 coil over springs: Direct materials P800 Direct labor P350 Applied overhead 160% of direct labor cost (150% in case defective units were charged to specific order) 342,000 O 335,000 349,740 342,500