1. Tala Corporation utilizes a job-order costing system and the following information is available from its records. The company has three jobs in process: 001, 002, and 003.

Raw material used - $260,000

Direct labor per hour - $19

Overhead applied based on direct labor cost - 125%

Of the raw materials used, total of 85% were traceable to the specific jobs (Job 001, 25%; Job 002, 30%; Job 003, 30%) and the balance of the requisitions was considered indirect. Direct labor hours per job are 2,800; 3,300; and 4,000; respectively. Indirect labor is $90,000. Other actual overhead costs totaled $100,000. If only Job 002 and 003 were completed and sold, how much is the cost of goods sold at year end?

523,700

468,075

484,700

394,700

  

3. At a sales volume of 30,000 units, Celly Company's total fixed costs are $30,000 and total variable costs are $45,000. The relevant range is 20,000 to 40,000 units. If Celly Company were to sell 40,000 units, how much must be the total expected cost per unit?

78,000

80,000

75,000

77,000

4. Ail Company has a job order for 500 units of tables were processed with costs of $80,000 and $30,000 for direct materials and direct labor, respectively. Factory overhead was applied at 50% of direct labor cost which excludes a 5% provision for spoilage. Prior to the transfer to the storeroom, 25 units were found to be spoiled with an estimated market value of $50 per unit.

a. How much is the unit cost of the goods transferred to storeroom if the loss is charged to total production?

b. How much is the unit cost of the goods transferred to storeroom if the rework costs are charged to the specific job?

5. The incentive scheme of John Rey's factory workers features a combined piece rate $11.25 and a minimum wage guaranteed wage of $875 per week show

Employee J - 67 units produced

Employee O - 78 units produced

Employee H - 80 units produced

Employee N - 82 units produced

Employee R - 72 units produced

Employee E - 75 units produced

What amount of the portion of the weekly payroll must- be charged to factory overhead?

Answer rating: 100% (QA)

Lets tackle each question step by step 1 Cost of Goods Sold COGS at Year End Raw material used 260000 Direct labor per hour 19 Overhead applied based on direct labor cost 125 Direct labor hours per jo... View the full answer