ACC 349 Week 2 Team Assignment Problems Ch 2 3

Apr 19th, 2015
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ACC 349 Week 2 Team Assignment Problems Ch 2 3

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Team C ACC/349P2-4A Aquatic Manufacturing uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department A, direct labor hours in Department B, and machine hours in Department C. In establishing the predetermined overhead rates for 2005 the following estimates were made for the year.DepartmentA B CManufacturing overhead $930,000 $800,000 $750,000Direct labor cost $600,000 $100,000 $600,000Direct labor hours 50,000 40,000 40,000Machine hours 100,000 120,000 150,000During January, the job cost sheets showed the following costs and production data.DepartmentA B CDirect materials used $92,000 $86,000 $64,000Direct labor cost $48,000 $35,000 $50,400Manufacturing overhead incurred $76,000 $74,000 $61,500Direct labor hours 4,000 3,500 4,200Machine hours 8,000 10,500 12,600Instructions(a) Compute the predetermined overhead rate for each department:Answers:Department A: Manufacturing Overhead/Direct Labor Cost = 930,000/600,000 = 1.5 = 155%Department B: Manufacturing Overhead/Direct Labor Hours = 800,000/40,000 = $20 per direct labor hourDepartment C: Manufacturing Overhead/Machine Hours = 750,000/150,000 = $5 per machine hour(b) Compute the total manufacturing costs assigned to jobs in January in each department.Answers:Department A 92,000+48,000+76,000-1,60

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