ial AccoXM Question 3 - Comprehensive P+mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252Fmheproducive Problem 5 iSavedJasper Company, a machine tooling firm, has several plants. One plant, located in Saint Cloud, Minnesota, uses a job ordercosting system for its batch production processes. The Saint Cloud plant has two departments through which most jobspass: Plantwide overhead, which includes the plant manager's salary, accounting personnel, cafeteria, and humanresources, is budgeted at $250,000. During the past year, actual plantwide overhead was $242,000. Each department'soverhead consists primarily of depreciation and other machine-related expenses. Selected budgeted and actual data fromthe Saint Cloud plant for the past year are as follows:Budgeted department overhead(excludes plantwide overhead)Actual department overheadExpected total activity:Direct labor hoursMachine-hoursActual activity:Direct labor hoursMachine-hoursDepartment A Department B$ 97,500 $ 540,600120,000558, 60056,00015,00013,00053,00058,50013,70014,00055,000For the coming year, the accountants at the Saint Cloud plant are in the process of helping the salesforce create bids forseveral jobs. Projected data pertaining only to job number 110 are as follows:Direct materialsDirect labor cost:Department A (2,400 hours)Department B (800 hours)Machine-hours projected:Department ADepartment BUnits produced$ 21,50036,00011,6001001,20012,000c-1. The sales policy at the Saint Cloud plant dictates that job bids be calculated by adding 23 percent to total manufacturing costs.What would be the bid for job number 110 using an overhead rate of $12.51 per direct labor hour?c-2. The sales policy at the Saint Cloud plant dictates that job bids be calculated by adding 23 percent to total manufacturing costs.What would be the bid for job number 110 using the following three separate overhead rates based on machine hours?Plantwide rate of $3.79 per machine hourDepartment A overhead rate of $7.50 per machine hourDepartment B overhead rate of $10.20 per machine hourc-3. Which of the overhead allocation methods would you recommend?< Prev34 5 6of 6Next >L

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Bid Price-Tendering is one of the methods that are used to procure materials. The government…

Business

Accounting

c-1. The sales policy at the Saint Cloud plant dictates that job bids be calculated by adding 23 percent to total manufacturing costs. What would be the bid for job number 110 using an overhead rate of $12.51 per direct labor hour? c-2. The sales policy at the Saint Cloud plant dictates that job bids be calculated by adding 23 percent to total manufacturing costs. What would be the bid for job number 110 using the following three separate overhead rates based on machine hours? Plantwide rate of $3.79 per machine hour Department A overhead rate of $7.50 per machine hour Department B overhead rate of $10.20 per machine hour c-3. Which of the overhead allocation methods would you recommend?

c-1. The sales policy at the Saint Cloud plant dictates that job bids be calculated by adding 23 percent to total manufacturing costs. What would be the bid for job number 110 using an overhead rate of $12.51 per direct labor hour? c-2. The sales policy at the Saint Cloud plant dictates that job bids be calculated by adding 23 percent to total manufacturing costs. What would be the bid for job number 110 using the following three separate overhead rates based on machine hours? Plantwide rate of $3.79 per machine hour Department A overhead rate of $7.50 per machine hour Department B overhead rate of $10.20 per machine hour c-3. Which of the overhead allocation methods would you recommend?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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