Company reported the following information related to Job 101 Job 101 Units 500 Direct materials $10,000 Direct labor $2,000 Direct labor hours 100 Overhead is applied at rate of $10 per direct labor hour Quality inspection showed 10 of the 500 units were defective The units had to be reworked requ...

Step 11 Answer Determination of total cost of Job 101 Direct material Direct labor Ove ...

Company reported the following information related to Job 101. Job 101 Units 500 Direct materials $10,000 Direct

Fantastic news! We've Found the answer you've been seeking!

Question:

Company reported the following information related to Job 101.

	Job 101
Units	500
Direct materials	$10,000
Direct labor	$2,000
Direct labor hours	100

Overhead is applied at rate of $10 per direct labor hour.

Quality inspection showed 10 of the 500 units were defective. The units had to be reworked requiring additional direct materials of $140 and direct labor of $60 (3 hours). The rework is considered normal spoilage.

Determine the total cost of Job 101.

Related Book For answer-question

Cost Accounting Foundations and Evolutions

ISBN: 978-1111626822

8th Edition

Authors: Michael R. Kinney, Cecily A. Raiborn

Posted Date: Mar 29, 2023 10:46 PM

See More Questions

5. Tri-State Food Service operates six fast food restaurants in the Raleigh area. The company pays rent of $10,000 per year for each shop. The managers of each shop are paid a salary of $3,200 per...
The Hampshire Company manufactures umbrellas that sell for $12.50 each. In 2014, the company made and sold 60,000 umbrellas. The company had fixed manufacturing costs of $216,000. It also had fixed...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Jin, the recruitment manager at Randents Inc., reviews the performance of his team members on a monthly basis. Based on the results of his monthly reviews, he decides to conduct daily reviews to...
What are some advantages of issuing bonds versus borrowing from a bank?
Using the following income statement and additional year-end information, prepare the operating activities section of the statement of cash flows using the indirect method. SONAD COMPANY Income...
A uniform bar of length $l$ and mass $m$ is hinged at one end $(x=0)$, supported by a spring at $x=\frac{2 l}{3}$, and acted upon by a force at $x=l$, as shown in Fig. 13.32. Derive the...
Yukon Bike Corp. manufactures mountain bikes and distributes them through retail outlets in Canada, Montana, Idaho, Oregon, and Washington. Yukon Bike Corp. has declared the following annual...
Using the information below, prepare a bank reconciliation and cash at bank ledger reconciliation for Vera Limited as at 31 January 2022. 1. The balance on the bank statement at 31 January 2022 is...
Crane Construction's manufacturing costs for August when production was 1,240 units are as follows: Direct material Direct labor Variable overhead Factory depreciation Factory supervisory salaries...
Colton Enterprises experienced the following events for Year 1, the first year of operation: Acquired $53,000 cash from the issue of common stock. Paid $13,800 cash in advance for rent. The payment...
How does a hydraulic turbine differ from the hydraulic pump?
Derive the rise and fall of capillary action in a tube.
Explain the classification of springs?
Derive the expression for work done and mechanical efficiency of Pelton turbines.
Differentiate between the volute and vortex casing of a centrifugal pump.
The geopolitics of the world have-in general-been good for international businesses since the late 1980s. The world, however, is dynamic. Despite the general trends, terrorism and other changes make...
In each of the following independent cases, document the system using whatever technique(s) your instructor specifies. a. Dreambox Creations (www.dreamboxcreations.com/) in Diamond Bar, California,...
Designer Rags makes evening dresses. The following information was gathered from the company records for 2010, the first year of company operations. Work in Process Inventory at the end of 2010 was...
Red River Farm Machine makes a wide variety of products, all of which must be processed in the Cutting and Assembly departments. For the year 2010, Red River budgeted total overhead of $993,000, of...
What is dual pricing? What is the intended effect of dual pricing on the performance of each division affected by the dual price?
A hydraulic lift in a service station has a $32.50-\mathrm{cm}$-diameter ram that slides in a $32.52-\mathrm{cm}$-diameter cylinder. The annular space is filled with SAE 10 oil at \(20^{\circ}...
A 10-kg block slides down a smooth inclined surface as shown in Fig. P1.80. Determine the terminal velocity of the block if the $0.1-\mathrm{mm}$ gap between the block and the surface contains SAE...
A layer of water flows down an inclined fixed surface with the velocity profile shown in Fig. P1.81. Determine the magnitude and direction of the shearing stress that the water exerts on the fixed...

Company reported the following information related to Job 101. Job 101 Units 500 Direct materials $10,000 Direct

Question:

Expert Answer:

Step 11 Answer Determination of total cost of Job 101 Direct material Direct labor Ove... View the full answer

Cost Accounting Foundations and Evolutions

Students also viewed these accounting questions