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oksano4ka [1.4K]
3 years ago
14

Exercise 2-10 Applying Overhead Cost to a Job [LO2-2] Sigma Corporation applies overhead cost to jobs on the basis of direct lab

or cost. Job V, which was started and completed during the current period, shows charges of $6,700 for direct materials, $9,200 for direct labor, and $6,348 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,700 for direct materials and $4,700 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end
Business
1 answer:
Shkiper50 [21]3 years ago
6 0

Answer: Yes. The amount of $‭3,243‬ should be applied to Job W as overhead at year-end.

Explanation:

There should be overhead costs applied in Job W at year-end and this cost will be based on a predetermined overhead rate.

The Predetermined overhead rate can be calculated by dividing total estimated overhead cost by total estimated direct labor cost and is used to allocate manufacturing overhead for a period to products and other cost objects.

Predetermined rate using Job V = 6,348/9,200

= 69%

Overhead cost for Job W = Predetermined rate * Labor cost

= 69% * 4,700

= $‭3,243‬

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Answer:

1.  Financial Analysis

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Explanation:

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SBEs are organized and regulated by students as practical learning laboratories that incorporate National Curriculum Standards in various departments such as marketing, finance, hospitality or management.

Hence, the full 10 School Based Enterprise instructional Units are the following:

1. Financial Analysis

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7 0
3 years ago
Read 2 more answers
The following information relates to Jay Co.’s accounts receivable for the year just ended: Accounts receivable, 1/1 $ 650,000 C
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Answer:

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Allowance<u>   (110,000)  </u>

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Before allowance for uncollectible accounts:

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650,000 + (2,700,000 - 75,000) - 2,150,000 - 40,000 =  1,085,000

Gross A/R 1,085,000

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3 years ago
Everfi module 8 which type of password would be considered secure
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3 years ago
You are planning your retirement in 15 years. You plan to retire with $3,000,000 and your retirement account earns 4.8% compound
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Answer:

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we convert the residual to months:

0.5833 x 12 = 6.996 = 7 months

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