Chapter 3 - Exercise 3-1 Process Costing and Job-Order...

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Exercise 3-1 Process Costing and Job-Order Costing [LO1] Which would be more appropriate in each of the following situations—job-order costing or process costing?
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a. A custom yacht builder. Job-order costing b. A golf course designer. Job-order costing c. A potato chip manufacturer. Process costing d. A business consultant. Job-order costing e. A plywood manufacturer. Process costing f. A soft-drink bottler. Process costing g. A film studio. Job-order costing h. A firm that supervises bridge construction projects. Job-order costing i. A manufacturer of fine custom jewelry. Job-order costing j. A made-to-order clothing factory. Job-order costing k. A factory making one personal computer model. Process costing l. A fertilizer factory. Process costing Exercise 3-3 Compute the Predetermined Overhead Rate [LO3] Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year it estimated that its total manufacturing overhead would be $586,000 and the total direct labor would be 40,000 hours. Its actual total manufacturing overhead for the year was $713,400 and its actual total direct labor was 41,000 hours. Required: Compute the company's predetermined overhead rate for the year. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Predetermined overhead rate $ 14.65 per DLH Exercise 3-5 Apply Overhead [LO5] Westan Corporation uses a predetermined overhead rate of $23.10 per direct labor-hour. This predetermined rate was based on 12,000 estimated direct labor-hours and $277,200 of estimated total manufacturing overhead.
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The company incurred actual total manufacturing overhead costs of $266,000 and 12,600 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to units of product during the period. (Omit the "$" sign in your response.) Manufacturing overhead applied $ 291060 Exercise 3-6 Applying Overhead; Cost of Goods Manufactured [LO5, LO6, LO8]
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Chapter 3 - Exercise 3-1 Process Costing and Job-Order...

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