Part 1: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead...
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Accounting
Part 1: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:
Total machine-hours
32,000
Total fixed manufacturing overhead cost
$ 352,000
Variable manufacturing overhead per machine-hour
$ 3
Recently, Job T687 was completed with the following characteristics:
Number of units in the job
10
Total machine-hours
40
Direct materials
$ 675
Direct labor cost
$ 1,350
The amount of overhead applied to Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.)
Multiple Choice
$560.00
$352.00
$663.40
$112.00
Part 2: Job 910 was recently completed. The following data have been recorded on its job cost sheet:
Direct materials
$ 2,454
Direct labor-hours
71
labor-hours
Direct labor wage rate
$ 15
per labor-hour
Machine-hours
137
machine-hours
The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $16 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be:
Multiple Choice
$5,711
$3,035
$6,551
$3,519
Part 3: Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $243,300 and 8,300 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $244,400 and actual direct labor-hours were 5,800.
The applied manufacturing overhead for the year was closest to: (Round your intermediate calculations to 2 decimal places.)
Multiple Choice
$290,174
$169,998
$244,412
$170,810
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