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Exam 2: Job-Order Costing: Calculating Unit Product Costs

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Question 41

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Fusaro Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year.The company has provided the following data for the most recent year. The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:

A) $644,670
B) $684,000
C) $68,000
D) $580,580

E) B) and C)
F) B) and D)

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Question 42

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The total job cost for Job K818 is closest to:

A) $1,675
B) $2,595
C) $1,195
D) $2,320

E) B) and D)
F) C) and D)

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Question 43

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Beat 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: Recently, Job M759 was completed.It required 60 machine-hours.The amount of overhead applied to Job M759 is closest to:

The total job cost for Job A578 is closest to:

Moscone Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year.At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 78,000 labor-hours.The estimated variable manufacturing overhead was $9.99 per labor-hour and the estimated total fixed manufacturing overhead was $985,920. Required: Compute the company's predetermined overhead rate.

Malakan Corporation has two production departments, Machining and Finishing.The company uses a job-order costing system and computes a predetermined overhead rate in each production department.The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours.At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job K368.The following data were recorded for this job: The amount of overhead applied in the Machining Department to Job K368 is closest to:

Thrall 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: Recently Job K125 was completed and required 160 machine-hours. Required: Calculate the amount of overhead applied to Job K125.

Dancel Corporation has two production departments, Milling and Finishing.The company uses a job-order costing system and computes a predetermined overhead rate in each production department.The Milling Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours.At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job M565.The following data were recorded for this job: Required: a.Calculate the total amount of overhead applied to Job M565 in both departments. b.Calculate the total job cost for Job M565. c.Calculate the selling price for Job M565 if the company marks up its unit product costs by 20% to determine selling prices.

The amount of overhead applied to Job K818 is closest to:

A job cost sheet is used to record how much a customer pays for the job once the job is completed.

The predetermined overhead rate for the Casting Department is closest to:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job A is closest to:

The amount of overhead applied to Job T687 is closest to:

The predetermined overhead rate for the Finishing Department is closest to:

Koelsch Corporation has two manufacturing departments--Molding and Customizing.The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job F and Job K.There were no beginning inventories.Data concerning those two jobs follow: Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job K is closest to:

Baj Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year.The company has provided the following data for the most recent year. The predetermined overhead rate per machine-hour would be closest to:

Helland Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours.The company based its predetermined overhead rate for the current year on the following data: The predetermined overhead rate is closest to:

Kreuzer Corporation is using a predetermined overhead rate of $22.30 per machine-hour that was based on estimated total fixed manufacturing overhead of $446,000 and 20,000 machine-hours for the period.The company incurred actual total fixed manufacturing overhead of $409,000 and 18,200 total machine-hours during the period.The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:

The predetermined overhead rate for the Assembly Department is closest to:

Marius Corporation has two production departments, Casting and Finishing.The company uses a job-order costing system and computes a predetermined overhead rate in each production department.The Casting Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours.At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job K895.The following data were recorded for this job: Required: a.Calculate the estimated total manufacturing overhead for the Finishing Department. b.Calculate the predetermined overhead rate for the Finishing Department. c.Calculate the amount of overhead applied in the Finishing Department to Job K895.