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13 14 15 16 17 . Required: 1. Determine the amount of overhead...
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Sofia Gomez runs a mobile pet grooming service. She charges $26 direct labor per grooming hour. She applies overhead tojobs on
the basis of grooming hours. She predicts 860 grooming hours for the year. Her estimated overhead costs for the year follow. Van depreciation $ 8,440 Van insurance expense $ 1,060 Tool depreciation $ 410
Van maintenance 1,320 Indirect materials 660 other overhead 1,010 1. Compute the predetermined overhead rate using estimated grooming hours. 2. Sofia has been asked to groom 3 large dogs. She expects thisjob to require a total of15 direct labor grooming hours. Compute her
total cost (direct labor plus applied overhead) for thisjob. 3. If Sofia targets a markup of 20% on the total cost for each job, what price should she quote for the job in part2? 1. Predetermined overhead rate 2. Total job cost 3. Price quote
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Marco Company shows the following costs for threejobs worked on in April. Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $ 27,000 $ 41,000
Direct labor used (in March) 23,000 14,000
Overhead applied (March) 11,500 7,000
Costs during April
Direct materials used 139,000 210,000 $ 115,000
Direct labor used 104,000 151,000 101,000
Overhead applied ? ? ?
Finished Finished Status on April 30 In process (sold) (unsold) Additional Information a. Raw Materials Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $382,000. c. Actual overhead costs incurred in April are indirect materials, $59,000; indirect labor, $26,000; factory rent, $36,000;
factory utilities, $20,000; and factory equipment depreciation, $56,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $675,000 cash in April.
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Required:
1. Determine the amount of overhead applied to each job in April. Predetermined overhead rate
Overhead applied
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Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $ 27,000 $ 41,000
Direct labor used (in March) 23,000 14,000
Overhead applied (March) 11,500 7,000
Costs during April
Direct materials used 139,000 210,000 $ 115,000
Direct labor used 104,000 151,000 101,000
Overhead applied ? ? ?
Status on April 30 Figziflid f::::?:? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $382,000. c. Actual overhead costs incurred in April are indirect materials, $59,000; indirect labor, $26,000; factory rent, $36,000;
factory utilities, $20,000; and factory equipment depreciation, $56,000. (I. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $675,000 cash in April,
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2. Determine the total cost assigned to eachjob as of April 30 (including the balances from March 31). Direct materials $ 27,000
Direct labor 23,000 Overhead applied Work in process, beginning April
Direct materials 139,000 21 0,000 11 5,000 464,000
Direct labor 104,000 151 ,000 101 ,000 356,000 Overhead applied Costs added in April
Total costs Status on April 30 Finished (sold) Finished (unsold) In process April 30 cost included in: —
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Marco Company SHOWS the following COStS TOT three jODS worked on in April. Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $ 27,000 $ 41,000
Direct labor used (in March) 23,000 14,000
Overhead applied (March) 11,500 7,000
Costs during April
Direct materials used 139,000 210,000 $ 115,000
Direct labor used 104,000 151,000 101,000
Overhead applied ? ? ?
Status on April 30 Figzigid iifiizij? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $382,000. c. Actual overhead costs incurred in April are indirect materials, $59,000; indirect labor, $26,000; factory rent, $36,000;
factory utilities, $20,000; and factory equipment depreciation, $56,000. (I. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $675,000 cash in April.
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4. Prepare a schedule of cost of goods manufactured for the month end April 30. Total manufacturing costs _
Total cost of work in process _
Cost of goods manufactured —
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Listed below are costs of services provided by an airline company. Consider the cost object to be a flight. Flight attendants and pilots
are paid based on hours of flight time.
Classify each cost as direct, indirect, selling, or general and administrative.
Cost
Classification
1. Salesperson commissions
2. Office headquarters rent
3. Office equipment insurance
4. Travel agent salaries
5. Co-pilot wages
6. Advertising
7. Beverages served on plane
8. Accounting manager salary
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Selected costs related to Apple's iPhone are listed below.
Classify each cost as either direct materials, direct labor, factory overhead, selling expenses, or general and administrative expenses.
1. Salary of chief executive officer
2. Depreciation on office equipment
3. Advertising campaigns
4. Display screen
5. Battery component
6. Wages for retail store salesperson
7. Office building insurance used up
8. Uniforms provided for each factory worker
Answer & Explanation
Solved by verified expertAnswered by Diko1830 on coursehero.com
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