All the following companies is most likely to use a job order costing system, EXCEPT: O a. none of the given answers is correct. O b. Marketing consultancy company Oc. Sugar refinery factory O d. Legal services company O e. Muscat Private Hospital

All the following companies is most likely to use a job order costing system, EXCEPT: O a. none of the given answers is correct. O b. Marketing consultancy company Oc. Sugar refinery factory O d. Legal services company O e. Muscat Private Hospital

Name: Time letAll the following companies is most likely to use a job order
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Description: Time letAll the following companies is most likely to use a job order costing system, EXCEPT:O a. none of the given answers is correct.O b. Marketing consultancy companyO c. Sugar refinery factoryO d. Legal services companyO e. Muscat Private Hospit

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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What is the difference in the cost of Widget A, per product, using a traditional labor allocation vs. activity based costing method, assuming the three main cost activities are: Widget A Widget B Total Direct labor hours 300 600 900 Machine hours 100 150 250 Purchase orders = 50 50 100 Here are the summary of fixed costs to consider allocating: Payroll taxes $1,700 Machine maintenance $750 Purchasing Dept. labor $3.500 Fringe benefits $1.500 Purchasing Dept. Supplies $300 Equipment depreciation $1,000 Electricity $1,500 Unemployment insurance $1,300 Traditional method OVER estimates the cost of Product A by $850 Traditional method UNDER estimates the cost of Product A by $850 Traditional method OVER estimates the cost of Product A by $1600 O Traditional method UNDER estimates the cost of Product A by $1600
Please help me with this problem? Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding Fabrication Total Machine-hours 25,000 35,000 60,000 Fixed manufacturing overhead costs $ 750,000 $ 290,000 $ 1,040,000 Variable manufacturing overhead cost per machine-hour $ 5.30 $ 5.30 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs—Job D-70 and Job C-200. It provided the following information related to those two jobs: Job D-70: Molding Fabrication Total Direct materials cost $ 376,000 $ 326,000 $ 702,000 Direct labor cost $ 210,000 $ 180,000 $ 390,000 Machine-hours 17,000 8,000 25,000 Job C-200: Molding Fabrication Total Direct materials cost $ 300,000 $ 260,000 $ 560,000 Direct labor cost $ 150,000 $ 270,000 $…
s === Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) Note: Do not round your intermediate calculations. Round your final answers to the nearest whole dollar. Enter all amounts as positive values. Direct materials used Direct labor Manufacturing overhead applied Total current manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured Beginning finished goods inventory Ending finished goods inventory Cost of goods sold 89 SEP 17 84 < Prev Case 1 16,000 12,000 8,100 5,900 3,800 7,900 6 of 8 tv Case 2 ‒‒‒ ‒‒‒ ▬▬▬…
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Sporty Manufacturing Co. assembled the following cost data for job #26: (Click the icon to view the cost data.) What are the total manufacturing costs for job #26 if the company uses normal job costing? A. $209,100 B. $207,400 C. $209,700 D. $205,900 Cost Data Direct manufacturing labor Indirect manufacturing labor Equipment depreciation Other indirect manufacturing costs Direct materials Indirect materials Manufacturing overhead overapplied $ 100,000 17,000 600 1,000 85,000 3,800 2,300 X
Finney Inc. has conducted an analysis of overhead costs related to one of its product lines using a traditional costing system (volume-based) and an activity-based costing system. Here are its results. Traditional Costing ABC Sales revenue $600,000 $600,000 Overhead Costs: Product RX3 $34,000 $50,000 ProductY12 36,000 20,000 $70,000 $70,000Explain how a difference in the overhead costs between the two systems may have occurred.
A Company uses job order costing and has chosen machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 800,000 hours. The estimated variable overhead is $5 per machine hour and the estimated fixed overhead costs are $400,000. The predetermined overhead rate is: a. $0.5 O b. None of the answers given O c. $5.5 O d. $2.5 O e. $11
Miljohn Freelancing provides different services to its clients. The company uses an activity-based costing system for its overhead costs. The company has provided the following data from its activity-based costing system. Activity Cost Pool Total Cost Total Activity Consulting 368,364 36,250 hours Bookkeeping 142,500 8,100 jobs Client support 37,620 680 clients Other 220,000 Not Applicable The “Other” activity cost pool consists of the costs of idle capacity and organization-sustaining costs. One particular client, Adams Corporation requested 24 jobs during the year that required a total of 31 hours of service. For this service, the client was charged P1,750. Compute the increase/(decrease) in margin assuming Miljohn Freelancing decides to use traditional costing system in which all costs are allocated to…
A Company uses job order costing and has chosen machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 400,000 hours. The estimated variable overhead is $20 per machine hour and the estimated fixed overhead costs are $800,000. The predetermined overhead rate is: a. $2 b. $11 С. None of the answers given d. $40 е. $22