1 I A punch press operator in a metal fabricating plant is randomly assigned to various...
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1 I A punch press operator in a metal fabricating plant is randomly assigned to various jobs. The straight time wage rate is P300 per hour with time and three fourth over 40 hours per week. How much of these earnings should be charged to factory overhead if 47 hours for the 1st week, 48 for the second week, 45 for the 3rd week and 38 for the 4rth weeks. 2. Brandy Company uses job order costing. Factory overhead is applied to production at a determined rate of 140% of direct labor cost. Any over-or under-applied factory overhead is closed to cost of goods sold account at the end of each month. Additional information is available as follows: • Job 211 was the only in process at January 31, 2021 with accumulated costs as follows: Direct materials. .P 24,000 Direct labor... 20,000 32,000 -arees Applied factory overhead.. • Jobs 212, 213 and 214 were started during February. • Direct materials requisitions for February totaled P127,800. • Direct labor cost of P143,000 was incurred for February. • Actual factory overhead was P189,000. • The only job still in process at February 28, 2021 was Job 214 with costs of P 22,300 for direct materials and P12,900 for direct labor. Compute for the cost of goods manufactured for February 2021. 3. Using the same information in no. 1 Overhead. compute for the over-under applied factory 1 I A punch press operator in a metal fabricating plant is randomly assigned to various jobs. The straight time wage rate is P300 per hour with time and three fourth over 40 hours per week. How much of these earnings should be charged to factory overhead if 47 hours for the 1st week, 48 for the second week, 45 for the 3rd week and 38 for the 4rth weeks. 2. Brandy Company uses job order costing. Factory overhead is applied to production at a determined rate of 140% of direct labor cost. Any over-or under-applied factory overhead is closed to cost of goods sold account at the end of each month. Additional information is available as follows: • Job 211 was the only in process at January 31, 2021 with accumulated costs as follows: Direct materials. .P 24,000 Direct labor... 20,000 32,000 -arees Applied factory overhead.. • Jobs 212, 213 and 214 were started during February. • Direct materials requisitions for February totaled P127,800. • Direct labor cost of P143,000 was incurred for February. • Actual factory overhead was P189,000. • The only job still in process at February 28, 2021 was Job 214 with costs of P 22,300 for direct materials and P12,900 for direct labor. Compute for the cost of goods manufactured for February 2021. 3. Using the same information in no. 1 Overhead. compute for the over-under applied factory
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Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
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