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Arelax
#1 Jan 31 2010 06:22pm
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if you can do this problem than we will talk about the rest





Quote (Arelax @ Jan 31 2010 06:57pm)
Exercise 3-2 Job-Order Costing Documents [LO2]

Mountain Gearing Company has incurred the following costs on Job ES34, an order for 40 gearing wheels to be delivered at the end of next month.

Direct materials:




On March 5, requisition number 870 was issued for 40 titanium blanks to be used in the special order. The blanks cost $8.00 each.




On March 8, requisition number 873 was issued for 960 hardened nibs also to be used in the special order. The nibs cost $0.60 each.

Direct labor:




On March 9, Harry Kerst worked from 9:00 A.M. until 12:15 P.M. on Job ES34. He is paid $12.00 per hour.




On March 21, Mary Rosas worked from 2:15 P.M. until 4:30 P.M. on Job ES34. She is paid $14.00 per hour.

Requirement 1:

On which of the following documents would these costs be recorded? (Select all that apply.)


  The materials requisition form for Harry Kerst. _______
  The materials requisition form for Job ES34.________
  The job cost sheet for Job ES34.__________________
  The materials requisition form for Mary Rosas.__________
  The time ticket for Mary Rosas._________
  The time ticket for Harry Kerst.________________

Partial Grading Explained




Requirement 2:

How much cost should have been recorded on each of the documents for Job ES34? (Round your answers to 2 decimal places. Omit the "$" sign in your response.)

Job cost sheet for Job ES34

Direct materials


$


Direct labor:_________







Harry Kerst__________





Mary Rosas_________





Total materials & labor__________


$


Arelax
#2 Jan 31 2010 06:44pm
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Exercise 3-3 Compute the Predetermined Overhead Rate [LO3]

Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year it estimated that its total manufacturing overhead would be $586,000 and the total direct labor would be 40,000 hours. Its actual total manufacturing overhead for the year was $713,400 and its actual total direct labor was 41,000 hours.

Required:

Compute the company's predetermined overhead rate for the year. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Predetermined overhead rate $_______________________________per DLH
buckytrading
#3 Jan 31 2010 07:02pm
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the costs would be recorded on, material requisition for for job ES34, job cost sheet for job ES34, and the time ticket for both the workers

direct labor cost= 70.5
harry kerst= 39
mary rosas= 31.5
total material & labor= 966.5

next one =
14.65
Arelax
#4 Jan 31 2010 07:44pm
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thanks

next problem

Problem 3-23 Predetermined Overhead Rate; Underapplied or Overapplied Overhead [LO3, LO5]

Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of computer-hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year:



Computer-hours 85,000

Manufacturing overhead cost $1,530,000

During the year, a severe economic recession resulted in cutting back production and a buildup of inventory in the company's warehouse. The company's cost records revealed the following actual cost and operating data for the year:




Computer-hours 60,000

Manufacturing overhead cost $1,350,000

Cost of goods sold (not adjusted for underapplied or overapplied overhead) $2,800,000




Requirement 1:

Compute the company's predetermined overhead rate for the year. (Omit the "$" sign in your response.)

Predetermined overhead rate$________?_________per computer hour



Requirement 2:

Compute the underapplied or overapplied overhead for the year. (Input the amount as positive value. Omit the "$" sign in your response.)



is it underapplied or overapplied?


overhead cost$__________?_______





Requirement 3:

Determine the cost of goods sold for the year after any adjustment for underapplied or overapplied overhead. (Omit the "$" sign in your response.)

Cost of goods sold$____________?__________

Arelax
#5 Jan 31 2010 08:18pm
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still need
Arelax
#6 Jan 31 2010 08:28pm
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Quote (Arelax @ Jan 31 2010 09:18pm)
still need


ya
p1mp3rn3l
#7 Jan 31 2010 09:10pm
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I have the solutions manual for this book :O

Problem 3-23
Overhead rate is Est overhead cost / Est Allocation base

1530000 / 85000 = $18


Actual OH - 1,350,000
Applied ($18 x 60k) - 1,080,000
Under Applied 270,000

Unadjusted CGS 2,800,000
ADD: Underapplied 270,000
CGS 3,070,000

If you need more lmk :O
If you also need it to be explained i can assist with that. I had to teach myself the material last semester. (Thus getting the manual)


Edit: Just checked the other guys answers and they are indeed correct aswell.

This post was edited by p1mp3rn3l on Jan 31 2010 09:13pm
Suppozo
#8 Jan 31 2010 09:41pm
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Warn: 20%
Quote (p1mp3rn3l @ Feb 1 2010 04:10am)
I have the solutions manual for this book :O

Problem 3-23
Overhead rate is Est overhead cost / Est Allocation base

1530000 / 85000 = $18


Actual OH - 1,350,000
Applied ($18 x 60k) - 1,080,000
Under Applied 270,000

Unadjusted CGS 2,800,000
ADD: Underapplied 270,000
CGS 3,070,000

If you need more lmk :O
If you also need it to be explained i can assist with that. I had to teach myself the material last semester. (Thus getting the manual)


Edit: Just checked the other guys answers and they are indeed correct aswell.


pwnt.

lol!

/e edit was emphasis on solutions manual :/

This post was edited by Suppozo on Jan 31 2010 09:42pm
Arelax
#9 Jan 31 2010 10:40pm
Group: Members
Posts: 70,169
Joined: Aug 15 2007
Gold: 8,813.00
Quote (p1mp3rn3l @ Jan 31 2010 10:10pm)
I have the solutions manual for this book :O

Problem 3-23
Overhead rate is Est overhead cost /  Est Allocation base

1530000 / 85000  =  $18 


Actual OH -  1,350,000
Applied  ($18 x 60k)    -  1,080,000
Under Applied  270,000

Unadjusted CGS  2,800,000
ADD: Underapplied    270,000
CGS  3,070,000

If you need more lmk :O
If you also need it to be explained i can assist with that.  I had to teach myself the material last semester. (Thus getting the manual)


Edit:  Just checked the other guys answers and they are indeed correct aswell.


u sure this is correct?

i got diff answers
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