Required: i) Compute Harriott's predetermined manufacturing overhead rate for 2020. ii) State the journal entries necessary to record the above transactions in the general journal: a) For direct materials used in November. The company uses machine. The table displays a relationship between liters and. Opunui Corporation has two manufacturing departments--Molding and Finishing. This is a function because every input has exactly. Reference no: EM132611276. Other manufacturing overhead costs incurred for November amounted to $340, 490.? Estimated total machine-hours (MHs) 4, 000 1, 000 5, 000. Vi) Determine the balance in work in process inventory on November 30. Opunui corporation has two manufacturing departments--molding and finishing. Estimated variable manufacturing overhead cost per MH $ 2. The number of quarts is the input, and the number. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Molding Finishing Total. 95q represents the table.
Opunui Corporation Has Two Manufacturing Departments--Molding And Finishing Oils
V) Calculate the gross profit earned by Harriott on the jobs completed. Reward Your Curiosity. Direct labor cost $21, 600 $8, 400. E. the interquartile range is preferred when the data are not skewed or no have outliers. H) To sell the two completed jobs on account. Pages 33 to 40 are not shown in this preview.
This table displays a scenario. Total manufacturing labour incurred in November was $368, 000, 75% of this amount. You're Reading a Free Preview. Other transactions incurred:? Problem 1: Assume that the company uses a plant wide predetermined manufacturing overhead rate based on machine-hours. Opunui corporation has two manufacturing departments--molding and finishing oils. Two jobs were completed with total costs of $384, 000 & $270, 000 respectively. Estimated total fixed manufacturing overhead cost $30, 000 $3, 400 $33, 400. E) For other manufacturing overhead incurred.
Opunui Corporation Has Two Manufacturing Departments--Molding And Finishing
Check all that apply. Data concerning those two jobs follow: Job A Job M. Direct materials $14, 700 $8, 400. Sold on account at a margin of 33? B) For indirect material issued to production in November. Opunui corporation has two manufacturing departments--molding and finishing solutions. Step-by-step explanation: an advantage of the standard deviation is that it increases as the dispersion of the data increases. 4375% and Nestle buys a "3 x 3" FRA on LIBOR at 5% from Credit Suisse. Direct Materials Used. Of liters is the output. During the most recent month, the company started and completed two jobs--Job A and Job M. There were no beginning inventories.
Molding machine-hours 2, 700 1, 300. Represented direct labour.? The company feels that interest rates are rising and that rates will be higher at the next roll-over in three months. The following activities took place in the work in process inventory during February: WIP Inventory A/C. After three months, interest rates have fallen to 4. In three months, Nestle rolls over a $25M loan priced at LIBOR3 on a 3 month basis. G) To move the completed jobs into finished goods inventory. F) For manufacturing overhead applied to production for November, given that Harriott. At the beginning of 2020, the company estimated that 31, 400. machine hours would be worked and $5, 024, 000 overhead cost would be incurred during 2020.
Opunui Corporation Has Two Manufacturing Departments--Molding And Finishing Solutions
D) To assign manufacturing labour to the appropriate accounts. The total manufacturing cost assigned to Job M is closest to: (Round your intermediate calculations to 2 decimal places. How much will Nestle receive/pay on its FRA? What can be determined from the table? 95 liters in every quart.
Finishing machine-hours 400 600. The Harriott manufacturing company uses job order costing system.
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