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Trevigne Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year.The company has provided the following data for the most recent year. Trevigne Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year.The company has provided the following data for the most recent year. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period.

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Koelsch Corporation has two manufacturing departments--Molding and Customizing.The company used the following data at the beginning of the year to calculate predetermined overhead rates: Koelsch Corporation has two manufacturing departments--Molding and Customizing.The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month,the company started and completed two jobs--Job F and Job K.There were no beginning inventories.Data concerning those two jobs follow: Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job K is closest to: A) $72,561 B) $79,817 C) $24,187 D) $48,374 During the most recent month,the company started and completed two jobs--Job F and Job K.There were no beginning inventories.Data concerning those two jobs follow: Koelsch Corporation has two manufacturing departments--Molding and Customizing.The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month,the company started and completed two jobs--Job F and Job K.There were no beginning inventories.Data concerning those two jobs follow: Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job K is closest to: A) $72,561 B) $79,817 C) $24,187 D) $48,374 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job K is closest to:


A) $72,561
B) $79,817
C) $24,187
D) $48,374

E) A) and B)
F) A) and C)

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Olmscheid Corporation has two manufacturing departments--Molding and Customizing.The company used the following data at the beginning of the period to calculate predetermined overhead rates: Olmscheid Corporation has two manufacturing departments--Molding and Customizing.The company used the following data at the beginning of the period to calculate predetermined overhead rates: During the period,the company started and completed two jobs--Job F and Job K.There were no beginning inventories.Data concerning those two jobs follow: Required: a.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate that overhead rate. b.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job F. c.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job K. d.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job F. e.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job K. f.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices.Calculate the selling price for Job F. g.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices.Calculate the selling price for Job K. h.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.If both jobs were sold during the month,what was the company's cost of goods sold for the month? During the period,the company started and completed two jobs--Job F and Job K.There were no beginning inventories.Data concerning those two jobs follow: Olmscheid Corporation has two manufacturing departments--Molding and Customizing.The company used the following data at the beginning of the period to calculate predetermined overhead rates: During the period,the company started and completed two jobs--Job F and Job K.There were no beginning inventories.Data concerning those two jobs follow: Required: a.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate that overhead rate. b.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job F. c.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job K. d.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job F. e.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job K. f.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices.Calculate the selling price for Job F. g.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices.Calculate the selling price for Job K. h.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.If both jobs were sold during the month,what was the company's cost of goods sold for the month? Required: a.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate that overhead rate. b.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job F. c.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job K. d.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job F. e.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job K. f.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices.Calculate the selling price for Job F. g.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices.Calculate the selling price for Job K. h.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.If both jobs were sold during the month,what was the company's cost of goods sold for the month?

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a.The first step is to calculate the est...

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Sivret Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Sivret Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job M598 was completed with the following characteristics: -The amount of overhead applied to Job M598 is closest to: A) $930 B) $4,200 C) $2,340 D) $3,270 Recently, Job M598 was completed with the following characteristics: Sivret Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job M598 was completed with the following characteristics: -The amount of overhead applied to Job M598 is closest to: A) $930 B) $4,200 C) $2,340 D) $3,270 -The amount of overhead applied to Job M598 is closest to:


A) $930
B) $4,200
C) $2,340
D) $3,270

E) A) and B)
F) A) and D)

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Comans Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Comans Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job A319. The following data were recorded for this job: -The amount of overhead applied in the Milling Department to Job A319 is closest to: A) $142,200.00 B) $552.00 C) $96.00 D) $474.00 During the current month the company started and finished Job A319. The following data were recorded for this job: Comans Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job A319. The following data were recorded for this job: -The amount of overhead applied in the Milling Department to Job A319 is closest to: A) $142,200.00 B) $552.00 C) $96.00 D) $474.00 -The amount of overhead applied in the Milling Department to Job A319 is closest to:


A) $142,200.00
B) $552.00
C) $96.00
D) $474.00

E) B) and C)
F) A) and D)

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Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job A and Job M. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices.The calculated selling price for Job A is closest to: A) $51,970 B) $72,758 C) $80,034 D) $20,788 During the most recent month, the company started and completed two jobs--Job A and Job M. There were no beginning inventories. Data concerning those two jobs follow: Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job A and Job M. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices.The calculated selling price for Job A is closest to: A) $51,970 B) $72,758 C) $80,034 D) $20,788 -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices.The calculated selling price for Job A is closest to:


A) $51,970
B) $72,758
C) $80,034
D) $20,788

E) All of the above
F) A) and C)

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Dejarnette Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Dejarnette Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: -The predetermined overhead rate is closest to: A) $8.30 per machine-hour B) $11.40 per machine-hour C) $5.20 per machine-hour D) $3.10 per machine-hour -The predetermined overhead rate is closest to:


A) $8.30 per machine-hour
B) $11.40 per machine-hour
C) $5.20 per machine-hour
D) $3.10 per machine-hour

E) A) and D)
F) A) and C)

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Collini Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Collini Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job T268. The following data were recorded for this job: -The total amount of overhead applied in both departments to Job T268 is closest to: A) $616 B) $715 C) $2,046 D) $1,331 During the current month the company started and finished Job T268. The following data were recorded for this job: Collini Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job T268. The following data were recorded for this job: -The total amount of overhead applied in both departments to Job T268 is closest to: A) $616 B) $715 C) $2,046 D) $1,331 -The total amount of overhead applied in both departments to Job T268 is closest to:


A) $616
B) $715
C) $2,046
D) $1,331

E) All of the above
F) A) and D)

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In a job-order costing system,costs are traced to individual units of product.The sum total of such traced costs is called the unit product cost.

A) True
B) False

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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job T687 was completed with the following characteristics: -The total job cost for Job T687 is closest to: A) $1,365 B) $1,725 C) $990 D) $2,040 Recently, Job T687 was completed with the following characteristics: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job T687 was completed with the following characteristics: -The total job cost for Job T687 is closest to: A) $1,365 B) $1,725 C) $990 D) $2,040 -The total job cost for Job T687 is closest to:


A) $1,365
B) $1,725
C) $990
D) $2,040

E) All of the above
F) B) and C)

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Ronson Corporation has two manufacturing departments--Casting and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Ronson Corporation has two manufacturing departments--Casting and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job C and Job G. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job G is closest to: A) $42,070 B) $27,370 C) $6,800 D) $7,900 During the most recent month, the company started and completed two jobs--Job C and Job G. There were no beginning inventories. Data concerning those two jobs follow: Ronson Corporation has two manufacturing departments--Casting and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job C and Job G. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job G is closest to: A) $42,070 B) $27,370 C) $6,800 D) $7,900 -Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job G is closest to:


A) $42,070
B) $27,370
C) $6,800
D) $7,900

E) B) and D)
F) C) and D)

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Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs follow: -The unit product cost for Job K332 is closest to: A) $94.10 B) $18.10 C) $82.50 D) $47.05 During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs follow: Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs follow: -The unit product cost for Job K332 is closest to: A) $94.10 B) $18.10 C) $82.50 D) $47.05 -The unit product cost for Job K332 is closest to:


A) $94.10
B) $18.10
C) $82.50
D) $47.05

E) B) and D)
F) All of the above

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Weakley Corporation uses a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $358,000 and 20,000 machine-hours for the period.The company incurred actual total fixed manufacturing overhead of $382,000 and 18,300 total machine-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period.

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Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121,000 and 10,000 direct labor-hours for the period.The company incurred actual total fixed manufacturing overhead of $113,000 and 10,900 total direct labor-hours during the period.The predetermined overhead rate is closest to:


A) $10.37
B) $12.10
C) $11.10
D) $11.30

E) C) and D)
F) B) and D)

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Which of the following statements about using a plantwide overhead rate based on direct labor is correct?


A) Using a plantwide overhead rate based on direct labor-hours will ensure that direct labor costs are correctly traced to jobs.
B) Using a plantwide overhead rate based on direct labor costs will ensure that direct labor costs will be correctly traced to jobs.
C) It is often overly simplistic and incorrect to assume that direct labor-hours is a company's only manufacturing overhead cost driver.
D) The labor theory of value ensures that using a plantwide overhead rate based on direct labor will do a reasonably good job of assigning overhead costs to jobs.

E) B) and C)
F) A) and C)

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Heroux Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Heroux Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job A and Job H. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.The manufacturing overhead applied to Job H is closest to: A) $22,680 B) $30,888 C) $29,880 D) $7,200 During the most recent month, the company started and completed two jobs--Job A and Job H. There were no beginning inventories. Data concerning those two jobs follow: Heroux Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job A and Job H. There were no beginning inventories. Data concerning those two jobs follow: -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.The manufacturing overhead applied to Job H is closest to: A) $22,680 B) $30,888 C) $29,880 D) $7,200 -Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.The manufacturing overhead applied to Job H is closest to:


A) $22,680
B) $30,888
C) $29,880
D) $7,200

E) None of the above
F) B) and C)

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Baj Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year.The company has provided the following data for the most recent year. Baj Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year.The company has provided the following data for the most recent year. The predetermined overhead rate per machine-hour would be closest to: A) $17.80 B) $19.49 C) $16.23 D) $17.77 The predetermined overhead rate per machine-hour would be closest to:


A) $17.80
B) $19.49
C) $16.23
D) $17.77

E) A) and D)
F) A) and B)

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Lueckenhoff Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $497,000, variable manufacturing overhead of $2.40 per direct labor-hour, and 70,000 direct labor-hours. The company has provided the following data concerning Job T498 which was recently completed: Lueckenhoff Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $497,000, variable manufacturing overhead of $2.40 per direct labor-hour, and 70,000 direct labor-hours. The company has provided the following data concerning Job T498 which was recently completed: -The amount of overhead applied to Job T498 is closest to: A) $568 B) $192 C) $760 D) $952 -The amount of overhead applied to Job T498 is closest to:


A) $568
B) $192
C) $760
D) $952

E) A) and B)
F) A) and C)

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Job-order costing systems often use allocation bases that do not reflect how jobs actually use overhead resources.

A) True
B) False

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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job T687 was completed with the following characteristics: -The estimated total manufacturing overhead is closest to: A) $315,000 B) $252,000 C) $252,002 D) $63,000 Recently, Job T687 was completed with the following characteristics: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job T687 was completed with the following characteristics: -The estimated total manufacturing overhead is closest to: A) $315,000 B) $252,000 C) $252,002 D) $63,000 -The estimated total manufacturing overhead is closest to:


A) $315,000
B) $252,000
C) $252,002
D) $63,000

E) B) and C)
F) A) and D)

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