RAUCH -CHP 19 Continuing Problem REVISED.xlsx - HORNGREN'S ACCOUNTING Eleventh Edition Chapter 19 Continuing Problem P19-40(5 Points You must complete

RAUCH -CHP 19 Continuing Problem REVISED.xlsx - HORNGREN'S...

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HORNGREN'S ACCOUNTING - Eleventh Edition Chapter 19: Job Order Costing Page 1 of 2 Chapter 19 Continuing Problem - P19-40 (5 Points) You must complete all fields highlighted in this green Answers in red have been provided for you by the instructor Name: Rose Rauch Requirements 1. Compute Daniel’s predetermined overhead allocation rate for 2018. 2. Compute the total cost of each job. 3. 4. Why does Daniel assign costs to jobs? Solution: Requirement 1 Calculate total estmated overhead cost Total estimated overhead costs: Staff Salaries 90,000 Computer Leases 57,000 Office Supplies 40,000 Office Rent 55,000 Total Estimated Overhead Cost 242,000 Calculate predetermined overhead allocation rate below Total estimated overhead cost 242,000 Total estimated quanity of overhead allocation base 1,100,000 Predetermined overhead allocation rate .22 or 22% Requirement 2 (delete the line with question marks and input figures) DANIEL CONSULTING, INC. Estimated Cost of Tommy’s Trains and Marcia’s Cookies Jobs Tommy’s Trains Marcia’s Cookies Direct Costs: Direct Labor 720 hours x $176 per hour 126,720 200 hours x $176 per hour
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