Assignment
1. A job cost sheet of Fugate Company is given below.
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Job Cost Sheet
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JOB NO. 172
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Quantity 1,500
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FOR James Company
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Date Completed 5/31
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Date
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Direct Materials
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Direct Labor
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Manufacturing overhead
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5/10
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1,330
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|
|
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12
15
22
24
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1,120
1,000
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550
480
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825
720
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27
.. 31
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1,870
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670
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1,005
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Cost of completed job:
Direct materials
Direct labor
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___________
__________ |
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Manufacturing Overhead ________
Total cost ________
Unit cost ________
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Cost of completed job: Direct materials Direct labor :..
Manufacturing Overhead Totalcost
Unit cost
REQUIREMENTS:
(a) Answer the following questions.
(1) What is the predetermined manufacturing overhead rate?
(2) What are the total cost and the unit cost of the completed job? (b) Prepare the entry to record the completion of the job.
(Problem is worth 50 points)
2. TheNitrogen Fixation Department of Tomco Company began the month of December with beginning work in process of 4,000 units that are 100% complete as to materials and 30% complete as to conversion costs. Units transferred out are 12,000 units. Ending work in process contains 10,000 units that are 100% complete as to materials and 40% complete as to conversion costs.
REQUIREMENTS:
Compute the equivalent units of production for materials and conversion costs for the month of December.
3. Compute activity-based costing rates from the following budgeted datafor Upton Golf Co.:
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Activity Cost Pool
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Budgeted Cost
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Budgeted Cost Driver
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Designing
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$2,550,000
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75,000 designer hours
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Machining
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525,000
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21,000 machine hours
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Packing
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620,000
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31,000 labor hours
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4. Caroline, Inc. planned to produce 20,000 units of product and work 100,000 direct labor hours In 2016. Manufacturing overhead at the 100,000 direct labor hours level of activity was estimated to be:
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Variable manufacturing overhead
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$ 700,000
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Fixed manufacturing overhead
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300.000
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Total manufacturing overhead
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$1,000,000
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At the end of 2016, 19,000 units of product were actually produced and 98,000 actual direct labor hours were worked. Total actual overhead costs for 2016 were $935,000.
REQUIREMENTS:
(a) Compute the total overhead variance.
(b) Compute the overhead controllable variance.
(c) Compute the overhead volume variance.