Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. fall 2018 acct 3377 jobs. the following overhead a

Fall 2018 ACCT 3377 jobs. The following overhead activities were budgeted for the year Cost...

70.2K

Verified Solution

Question

Accounting

image
Fall 2018 ACCT 3377 jobs. The following overhead activities were budgeted for the year Cost $120,000 1. Highland Co. is a job-order-costing company that uses activity-based costing to apply overhead to Amount of driver Driver number of setups number of parts direct labor hours 6,000 20,000 75,000 Activity $80,000 purchasing other overhead$150,000 The following information about the jobs was given for January Job 1002 Job 1003 Job 1004 Job 1001 $44,900 54,000 $80,000 Balance I/I direct materials direct labor number of setups umber of parts direct labor hours $60,700 SO $37,000 | s25,000 | $41,000 S38,500 $43,000 S71,000 200 500 1,200 1,800 10 40 300 5,000 2,000 30 400 5,200 2,400 1,500 800 By January 31, Jobs 1001 and 1004 were completed and only Job 1004 was sold. The remaining jobs were still in process. (1) Calculate three activity rates. (2) Calculate the overhead cost per unit for Job 1004. (3) Determine the cost per unit for Jobs 1001 and 1004. (4) Calculate the beginning balance and ending balance of work-in-process for January (5) Determine the cost of goods manufactured. (6) Calculate the cost of goods sold (7) Prepare all necessary journal entries pertaining Job l 001, Job 1002, Job 1003, and Job 1004

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Please finish all the way through and show all workHawkins Engineering’s management wants to...

Accounting
Q

Select at least 3 advantages and disadvantages of an EHR What are the components of the...

Medical Sciences
Q

Achondroplasia is a dominant trait that causes a characteristic form of dwarfism. In a survey of...

Physics
Q

With regards to critical infrastructure and partnerships the term “P3” refers to Public Private Partnership. When...

General Management
Q

11. The metal knob of a gold leaf electroscope is touched with a positively charged...

Physics
Q

x Determine the measure of ZFGC x x x x A 22 B 120 C...

Geometry
Q

An asset was purchased for $58,000 and originally estimated to have a useful life of...

Accounting
Q

I NEED HELP PLEASE ASAP!!!!! Required information Problem 9-5B (Algo) Record...

Accounting
Q

Accumulated depreciation-building $30,000 Equipment 36,000 Accumulated depreciation equipment 18,500 Accounts payable 6,000 Interest payable 960...

Accounting
Q

Melody is a department store manager and wants to examine whether or not female shoppers...

Accounting
Q

Applying the Cost of Goods Sold Model The following amounts were obtained from Stanwick Company's...

Accounting
Q

The two distinguishing characteristics of a derivative are

Accounting