Matrix Ltd is considering two projects, Project X and Project Y. The company uses a job...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Matrix Ltd is considering two projects, Project X and Project Y. The company uses a job costing system and applies overheads using machine hours. Total overhead for the year is expected to be $225 000, and it is expected that 25 000 machine hours will be worked. Addition information relating to the prospective projects is as follows: Direct materials Direct labour 500 # of orders Project X # of set-ups 12 # of stores requisition 300 # of machine hours 80 $25 800 $30 500 140 14 120 300 Project Y $30 800 $29 360 a. Using the traditional job costing system, calculate the total cost of each job. Matrix Ltd is considering two projects, Project X and Project Y. The company uses a job costing system and applies overheads using machine hours. Total overhead for the year is expected to be $225 000, and it is expected that 25 000 machine hours will be worked. Addition information relating to the prospective projects is as follows: Direct materials Direct labour 500 # of orders Project X # of set-ups 12 # of stores requisition 300 # of machine hours 80 $25 800 $30 500 140 14 120 300 Project Y $30 800 $29 360 a. Using the traditional job costing system, calculate the total cost of each job.
Expert Answer:
Answer rating: 100% (QA)
Total overhead total machine hours equals the overhead rate per machine hour 225000 divided ... View the full answer
Related Book For
Accounting and Finance An Introduction
ISBN: 978-1292088297
8th edition
Authors: Peter Atrill, Eddie McLaney
Posted Date:
Students also viewed these accounting questions
-
Identify the cost issues facing the firm in this case. Chrystal Moulding and Repairs Works (CMRW) is a successful SME based in Ashhurst, a small rural town close to Palmerston North. CMRW...
-
ABC Pte Ltd designs and makes tailor made engagement rings, wedding bands and sentimental jewellery. The company uses a job costing system and manufacturing overhead is applied on the basis of direct...
-
Stingray Ltd manufactures outboard motors and an assortment of other marine equipment. The company uses a job costing system and manufacturing overhead is applied on the basis of machine hours....
-
Energy of the emitted photon when an L-electron drops into the k-state in copper (z = 29) is -1 use R=109737 cm, cm =1.23910eV] 7994.6 eV 1094.6 eV 1293.6 eV 1097.3 eV
-
A spring-loaded piston/cylinder arrangement contains R-134a at 20C, 24% quality with a volume 50 L. The setup is heated and thus expands, moving the piston. It is noted that when the last...
-
In a 100-m linear accelerator, an electron is accelerated to 1.00% of the speed of light in 40.0m before it coasts for 60.0m to a target. (a) What is the electrons acceleration during the first 40.0...
-
Teddy Sargent opened an accounting firm on May 1, 2010. During the month of May, the business completed the following transactions: Requirements 1. Open, or set up, the following T-accounts: Cash,...
-
The following is a list of waste activities found in an office. Classify each one as a type of waste as represented by the acronym DOWNTIME (Defects, Overproduction, Waiting, Not utilizing people to...
-
Assume that it costs a rental company like Avis $20 per day for every car it rents out, regardless of the model. Assuming that the rental company is renting at its contribution maximizing rates, what...
-
Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth...
-
A crane is lifting a 40' shipping container with a mass of 4,000 kg until the bottom of the container is 100' in the air. The remaining dimensions of the container are 8' wide and 10' tall. The load...
-
The hour and minute hands of Big Ben in London are 2.79 m and 4.5 m long and have masses of 64.2 kg and 104 kg respectively. Calculate the total angular momentum of the minute hand about the center...
-
A conical container has a radius of 8 meters and a height of 12 meters. Calculate the volume of the container. Also, find its total surface area, including the base and lateral surface. Express your...
-
You are running an international organization with employees from different cultures working together. As a manager what steps could you employ to take advantage of cultural diversity and increase...
-
Based on the following " Concept " below, identify a problem you have seen or heard about in an organization and describe it. Make sure to talk about and use the name of a " Specific-Company " here....
-
If you had to pick just one (use of excessive force, excessive use of force, brutality, or unnecessary force), which do you believe is more problematic in terms of improper force? Why
-
Write down a mixed integer programming model so that its feasible region repre- sented by r and y is the shape shown in Figure 1. (0,1) (0,0) (1,2.5) X (1,1) (2,2.5) (2,0) Figure 1: Allowable set
-
Rosalie owns 50% of the outstanding stock of Salmon Corporation. In a qualifying stock redemption, Salmon distributes $80,000 to Rosalie in exchange for one-half of her shares, which have a basis of...
-
Segmental information relating to Turner plc for the year to 30 April 2015 is: Required: Analyse the performance of each of the three main business segments for the year and comment on your results....
-
The following financial statements for Blackstone plc are a slightly simplified set of published accounts. Blackstone plc is an engineering business that developed a new range of products in 2011....
-
What is meant by a variance? What is the point in analysing variances?
-
You have been approached by promoters to give an opinion on the financial statements to be included in the prospectus of a proposed corporation to be named U-Park Corporation. U-Park will own and...
-
The following questions relate to the auditor's responsibility for reporting on inconsistency of application of accounting principles. Select the best response. a. Raider uses the last-in, first-out...
-
J.O. Cole, a sole proprietor, operates a trucking business. Cole also has assets and liabilities in connection with other activities. You are retained to audit the accounts of the J.O.C. Truck Lines...
Study smarter with the SolutionInn App