Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. b. matriarch incorporated uses a job-order costing

B. Matriarch Incorporated uses a job-order costing system and a predetermined overhead rate based o...

50.1K

Verified Solution

Question

Accounting

image
B. Matriarch Incorporated uses a job-order costing system and a predetermined overhead rate based o machine hours. At the beginning of the year, the company estimated manufacturing overhead for the year would be $240,000 and machine hours would be 8,000 The following information pertains to November of the current year Total 16,000 $26,000 $38,000 $80,000 Work-in-process, Nov. November production activity Materials requisitioned Direct labor cost Machine hours Labor hours Actual manufacturing overhead cost incurred in November was $61,000 S 4,000 $4,800 $7,200 $16,000 S 2,400 $ 3,600 $4,000 $10,000 9002,000 500 400 700 120 180 200 Required: a. Compute the predetermined overhead application rate. b. Determine the total cost associated with each job. c. If jobs 10 and 12 were completed, prepared the journal entry to move the cost d. If job 10 was delivered to customers that paid S50,000 cash, prepare the journal entries What is the gross profit for job 10? e. Assuming no beginning work in process, what is the cost assigned to ending work in process? finished goods? g. How much was overhead over/underapplied? C. D

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

. A bank has recently begun a new credit program. Customers meeting a certain credit requirement...

Basic Math
Q

An honest coin is tossed n=3600 times. Let the random variable Y denote the number of tails...

Advance Math
Q

Compute the discounted payback statistic for Project D if the appropriate cost of capital is 12...

Finance
Q

6 What is the molecular weight of the large subunit of RuB A 14000 Daltons...

Biology
Q

of this cell is OT Q13 Derive condition for balanced wheatstone bridge condition Paragraph Q14...

Physics
Q

b 1 3 and C 11 2 isc What is inc in component form Enter...

Calculus
Q

26 x x x 5 x A 5 B 10 5 2 C 15 5...

Algebra
Q

On January 1,2021, Norwood borrows $410,000 cash from a bank by signing a five-year installment...

Accounting
Q

Benefits of Xero accounting software and what we learnt in assignments from this software

Accounting
Q

El Sr. Parker solicit recientemente un seguro de vida. Llam a su mdico de atencin...

Accounting
Q

Which of the following agencies does NOT issue agency discount notes? Review Later Sallie Mae...

Finance
Q

Yasmin owns a(n) race track that is worth 417,741 dollars and is expected to make...

Finance