CH 3 HW - Question 1 Score 2/2 Question 2 Score 2/2 Your...

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Unformatted text preview: Question 1: Score 2/2 Question 2: Score 2/2 Your response Correct response 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? a. A custom yacht builder. Job-order costing (8%) b. A golf course designer. Job-order costing (8%) c. A potato chip manufacturer. Process costing (8%) d. A business consultant. Job-order costing (8%) e. A plywood manufacturer. Process costing (8%) f. A soft-drink bottler. Process costing (8%) g. A film studio. Job-order costing (8%) h. A firm that supervises bridge construction projects. Job-order costing (8%) i. A manufacturer of fine custom jewelry. Job-order costing (8%) j. A made-to-order clothing factory. Job-order costing (8%) k. A factory making one personal computer model. Process costing (8%) l. A fertilizer factory. Process costing (8%) 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? 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 Feedback: Some of the listed companies might use either a process costing or a job-order costing system, depending on the nature of their operations and how homogeneous the final product is. For example, a plywood manufacturer might use job-order costing if it has a number of different plywood products that are constructed of different woods or come in markedly different sizes. Your response Correct response Exercise 3-8 Underapplied and Overapplied Overhead [LO8] Cretin Enterprises uses a predetermined overhead rate of $22.00 per direct labor-hour. This predetermined rate was based on 8,120 estimated direct labor-hours and $178,640 of estimated total manufacturing overhead. The company incurred actual total manufacturing overhead costs of $177,000 and 8,240 total direct labor- hours during the period. Requirement 1: Determine the amount of underapplied or overapplied manufacturing overhead for the period. (Input all amounts as positive values. Omit the "$" sign in your response.) Manufacturing overhead overapplied (50%) $ 4280 (50%) Exercise 3-8 Underapplied and Overapplied Overhead [LO8] Cretin Enterprises uses a predetermined overhead rate of $22.00 per direct labor-hour. This predetermined rate was based on 8,120 estimated direct labor-hours and $178,640 of estimated total manufacturing overhead....
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CH 3 HW - Question 1 Score 2/2 Question 2 Score 2/2 Your...

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