Job 007 requires $10,000 of direct materials, $4,000 of direct labor, 400 tons of material, 200...

 

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Job 007 requires $10,000 of direct materials, $4,000 of direct labor, 400 tons of material, 200 machine hours, two setups, ten inspection hours, and one design change. The manufacturing overhead cost pools and overhead rates in each pool follow: Cost Pool Overhead Rate Material handling $20/ton of material Machine usage $40/machine hour Machine setups $1,000/set-up Design changes $2,000/design change Inspection $50/inspection hour Determine the cost of Job 007. Problem 2: Roberts Manufacturing had a remaining debit balance of $20,000 of in its under and over-appliced factory overhead account at year-end. It also had year end balances in the following accounts: $20,000 Work in Process.. 30,000 Finished Goods.. Cost of Goods Sold... Total.. . 50,000 $100.000 .....*. 1. Prepare the closing entry for the $20,000 of under-applied overhead, assuming that the balance is not considered to be material. 2. Prepare the closing entry for the $20,000 of under-applied overhead, assuming that the balance is considered to be material. Job 007 requires $10,000 of direct materials, $4,000 of direct labor, 400 tons of material, 200 machine hours, two setups, ten inspection hours, and one design change. The manufacturing overhead cost pools and overhead rates in each pool follow: Cost Pool Overhead Rate Material handling $20/ton of material Machine usage $40/machine hour Machine setups $1,000/set-up Design changes $2,000/design change Inspection $50/inspection hour Determine the cost of Job 007. Problem 2: Roberts Manufacturing had a remaining debit balance of $20,000 of in its under and over-appliced factory overhead account at year-end. It also had year end balances in the following accounts: $20,000 Work in Process.. 30,000 Finished Goods.. Cost of Goods Sold... Total.. . 50,000 $100.000 .....*. 1. Prepare the closing entry for the $20,000 of under-applied overhead, assuming that the balance is not considered to be material. 2. Prepare the closing entry for the $20,000 of under-applied overhead, assuming that the balance is considered to be material.

Answer rating: 100% (QA)

Calculation Cost of Job No007 Direct Material 10000 Direct labor 4000 Prime cost 14000 Overhead Mate... View the full answer