Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company
Question:
Answers
$316.80
Explanation:
First the total cost for the product = Direct material + Direct labor + Total overhead
Total Overhead;
Estimated Variable Overhead = 4 * 30,300 = $121,200
Total Overhead = Estimated Variable Overhead + Total fixed manufacturing overhead cost
= 121,200 + 575,700
= $696,900
Predetermined Overhead rate = Total Overhead/ Machine hours = 696,900/30,300
= $23 per hour
Overhead for Job T687 = 23 * 30 = $690
Total cost = 730 + 1,460 + 690
= $2,880
Sales price with 40% markup = 2,880 * (1 + 40%)
= $3,168
Selling price per unit in Job T687;
= 3,168/10
= $316.80$2,880
Explanation:
Given that,
Total machine-hours = 30,300
Total fixed manufacturing overhead cost = $ 575,700
Variable manufacturing overhead per machine-hour = $ 4.00
For Job T687:
Number of units in the job = 10
Total machine-hours = 30
Direct materials = $730
Direct labor cost = $1,460
Total variable overhead estimated:
= Variable manufacturing overhead per machine-hour × Total machine-hours
= $4 × 30,300
= $121,200
Total overhead estimated:
= Total variable overhead estimated + Total fixed overhead estimated
= $121,200 + $575,700
= $696,900
Predetermined overhead rate:
= Total overhead estimated ÷ Total machine-hours
= $696,900 ÷ 30,300
= $23 per machine hour
Total overhead applied:
= predetermined overhead rate × Total machine hours for Job T687
= $23 × 30
= $690
Total job cost:
= Direct material + Direct labor + Total overhead
= $730 + $1,460 + $690
= $2,880
$2575
Explanation:
Total variable overhead estimated=(6*31,500)= $189,000
Hence total overhead estimated=Total variable overhead estimated+Total fixed overhead estimated = $189,000 + $220,500 = $409,500
Hence, predetermined overhead rate = $409,500 / 31,500 = $13 per machine hour
Hence, total overhead applied=(13*400) = $520
Hence, total job cost=Direct material+Direct labor+Total overhead = $685 + $1,370 + $520 = $2575
a. $259.70
Explanation:
Note: The full question is attached as picture below
Predetermined overhead rate = 2 + (294300/32700)
Predetermined overhead rate = $11
Job T687 Total cost = Direct materials cost + Direct labor cost + Overhead applied
Job T687 Total cost = 545 + 1090 + (20*11)
Job T687 Total cost = 545 + 1090 + 220
Job T687 Total cost = 1855
Cost per unit = $1,855 / $10
Cost per unit = $185.5
Selling price per unit = Cost per unit + Mark-up price
Selling price per unit = $185.5 + $185.5*40%
Selling price per unit = $185.5 + $74.20
Selling price per unit = $259.70
[tex]Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate[/tex]
[tex]Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate[/tex]
job T687 total cost 2,151 dollars
Explanation:
[tex]\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate[/tex]
425,600 / 30,400 = 14 fixed overhead rate
14 fixed + 5 variable = 19
Job T687
applied overhead:
ovehread 20 machine hours x 19 = 381
now we add the three cost components for the total cost:
direct materials 590
direct Labor 1,180
overhead 381
total 2,151
Manufacturing overhead applied 315
Total cost of Job T687 $2,040
Explanation:
Lupo Corporation
Estimated total manufacturing overhead cost = Estimated total fixed manufacturing overhead cost + Estimated variable overhead cost per unit of the allocation base × Estimated total amount of the allocation base
Hence:
$252,000 + ($2.10 per machine-hour × 30,000 machine-hours) = $252,000 + $63,000 = $315,000
Predetermined overhead rate = Estimated total manufacturing overhead cost ÷ Estimated total amount of the allocation base
= $315,000 ÷ 30,000 machine-hours = $10.50 per machine-hour
Overhead applied to a particular job = Predetermined overhead rate × Amount of the allocation base incurred by the job
= $10.50 per machine-hour × 30 machine-hours = $315
Direct materials$ 675
Direct labor 1,050
Manufacturing overhead applied 315
Total cost of Job T687 $2,040
Therefore the estimated total manufacturing overhead is closest to $315 and the Total cost of Job T687 is $2,040
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Explanation:
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Selling price= $273
Explanation:
Giving the following information:
The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 32,600 Total fixed manufacturing overhead cost $ 195,600 Variable manufacturing overhead per machine-hour $ 4.00.
Job T687 was completed with the following characteristics: Number of units in the job 10 Total machine-hours 30 Direct materials $ 550 Direct labor cost $ 1,100
First, we need to calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= (195,600/32,600) + 4= $10 per machine hour
Now, we need to calculate the total cost per unit:
Unitary cost= direct material + direct labor + allocated overhead
Unitary cost= (550/10) + (1,100/10) + (10*30)/10= $195
Selling price= 195*1.4= $273
Selling price= 240*1.4= $336
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (252,000/30,000) + 2.1
Predetermined manufacturing overhead rate= $10.5 per machine hour
Job T687:
Number of units in the job 10
Total machine-hours 30
Direct materials $ 675
Direct labor cost $1,050
Now, we need to allocate overhead and determine the total cost:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 10.5*30= $315
Total cost= 675 + 1,050 + 315= $2,040
Finally, the unitary cost and selling price:
Unitary cost= 2,040/10= $240
Selling price= 240*1.4= $336
The amount of overhead applied to Job T687 is closest to: $280.
Explanation:
Predetermined rate = Budgeted Overheads / Budget Activity
= $ 425,600 / 30,400
= $14.00 per machine-hour
Applied overheads to job T687 = Predetermined rate × Actual machine hours used
= $14.00 × 20
= $280
Conclusion :
The amount of overhead applied to Job T687 is closest to: $280.
b is the correct answer
answer; realistic job preview;