You have recently accepted a position with Dynamadics Inc. as a business analyst. As a recent...

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You have recently accepted a position with Dynamadics Inc. as a business analyst. As a recent graduate from Saskatchewan Polytechnic and based on your understanding of management accounting and management practices you are a perfect match for this position. Company background information Dynamadics Inc. is large, locally owned company operating in several regions within western Canada. Each region manufacture and sell apparel and accessories for both business and casual wear. The products lines include shoes, boots, sandals, purses, backpacks and computer bags. The company has an extensive distribution channel allowing for sales throughout the world. Operational information - Part 1 Dynamadics uses a job-order costing system in all of its operations. Manufacturing overhead costs (MOH) are applied to the manufacturing costs for all product lines using predetermined overhead rates. The following estimates were established at the beginning of the year for one specific product line - Specialized purses. At the end of the year, Dynamadics recorded the following actual costs and operating data for all jobs that were completed in each of these two divisions during the year. Division Moulding Detailing 10,300 62,300 65,300 9,300 433,000 683,000 111,000 439,000 592,470 722,625 Direct labour hours Machine hours Direct materials cost Direct labour cost Manufacturing overhead cost Requirement #1 (14 marks) You have been asked to provide the following: 1. Total cost for Job 220. (6 marks) 2. Cost per unit. (1 mark) 3. The journal entry to close out the overhead account in each division at the end of the year. (7 marks) Cost Driver (for PDOHR) Direct labour hours Machine hours Direct materials cost Direct labour cost Manufacturing overhead cost Division Moulding Machine hours Detailing Direct labour cost 12,750 61,500 73,000 8,300 $513,000 $653,000 $127,500 $430,500 $649,700 $731,850 A recent order was started on August 1 and completed on August 10th. This order was assigned job order number 220 and included 50 specialized purses made from high quality leather requiring hand-crafted detailing which is unique to each purse. The company's cost records are presented below for this job order. Direct labour hours Machine hours Materials placed into production Direct labour cost Division Moulding 20 120 $500 $320 Detailing 110 15 $362 $710 You have recently accepted a position with Dynamadics Inc. as a business analyst. As a recent graduate from Saskatchewan Polytechnic and based on your understanding of management accounting and management practices you are a perfect match for this position. Company background information Dynamadics Inc. is large, locally owned company operating in several regions within western Canada. Each region manufacture and sell apparel and accessories for both business and casual wear. The products lines include shoes, boots, sandals, purses, backpacks and computer bags. The company has an extensive distribution channel allowing for sales throughout the world. Operational information - Part 1 Dynamadics uses a job-order costing system in all of its operations. Manufacturing overhead costs (MOH) are applied to the manufacturing costs for all product lines using predetermined overhead rates. The following estimates were established at the beginning of the year for one specific product line - Specialized purses. At the end of the year, Dynamadics recorded the following actual costs and operating data for all jobs that were completed in each of these two divisions during the year. Division Moulding Detailing 10,300 62,300 65,300 9,300 433,000 683,000 111,000 439,000 592,470 722,625 Direct labour hours Machine hours Direct materials cost Direct labour cost Manufacturing overhead cost Requirement #1 (14 marks) You have been asked to provide the following: 1. Total cost for Job 220. (6 marks) 2. Cost per unit. (1 mark) 3. The journal entry to close out the overhead account in each division at the end of the year. (7 marks) Cost Driver (for PDOHR) Direct labour hours Machine hours Direct materials cost Direct labour cost Manufacturing overhead cost Division Moulding Machine hours Detailing Direct labour cost 12,750 61,500 73,000 8,300 $513,000 $653,000 $127,500 $430,500 $649,700 $731,850 A recent order was started on August 1 and completed on August 10th. This order was assigned job order number 220 and included 50 specialized purses made from high quality leather requiring hand-crafted detailing which is unique to each purse. The company's cost records are presented below for this job order. Direct labour hours Machine hours Materials placed into production Direct labour cost Division Moulding 20 120 $500 $320 Detailing 110 15 $362 $710

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1 Total cost for Job 220 To calculate the total cost for Job 220 we need to sum up the costs for dir... View the full answer