Chapulin Co. uses a normal costing system and applies MOH to jobs using a budgeted MOH rate based on machine hours. The budgeted manufacturing overhead for the year was estimated to be $172,000 and the estimated capacity for the plant was estimated at 25,000 machine hours. On January 1, Chapulin did not have jobs in process. During January, four jobs were placed in production Jobs #101, #102, #103 and #104, as follows : Job # 101 Job # 102 Job # 103 Job # 104 Machine Hours Used by the Job 800 950 555 300 Direct Materials $2,000 $3,000 1,500 800 Direct Labor 1,500 2,600 1,000 500 Manufacturing OVH ? ? ? ? Total ? ? ? ? Actual MOH cost for the month of January was $14,000. During the month, Chapulin completed Jobs #101 and #103. Required: [1 point] Calculate Chapulin’s budgeted overhead rate. [4 points] What was Chapulin’s Ending Balance for the WIP account for the month of January ? [2 points] What does any amount of over- or under-applied overhead mean for any balances in WIP Inventory and Finished Goods Inventory on the balance sheet?
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As mentioned in the lecture, pharmaceutical companies often…
As mentioned in the lecture, pharmaceutical companies often use a(n) _________________ pricing strategy because they charge more for the drug when their patent is active, and then they lower the price once the patent ends and generics enter the market.
Which is an example of an ether?
Which is an example of an ether?
Reddington Computers uses a job-order costing system. The fo…
Reddington Computers uses a job-order costing system. The following transactions occurred during May. While interning at Reddington Computers, Dembe was asked to prepare journal entries, in good form, for the following transactions: Raw materials purchased on account, $145,000. Raw materials used in production, $165,000 ($160,000 direct materials and $5,000 indirect materials). Direct labor cost of $66,000 and indirect labor cost of $15,000. Depreciation and other manufacturing overhead costs incurred/accrued during May, $100,000. The company applies manufacturing overhead cost to production using a predetermined rate of $24 per direct labor hour. A total of 4,000 direct labor hours were used in May. Jobs costing $250,000 according to their job cost sheets were completed during May and transferred to Finished Goods. Jobs that had cost $230,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 150% of manufacturing cost. Required (you may use scratch paper for calculation, however, J/Es must be written in the space below): a. [6 points] Prepare journal entries to record the transactions: 3, 5, 6b. [2 points] Determine the amount of overapplied MOH or underapplied MOH.c. [2 points] Prepare the journal entry to eliminate any overapplied MOH or underapplied MOH, using the direct write-off method.
Anna is a marketing analyst who works for Chipotle, and her…
Anna is a marketing analyst who works for Chipotle, and her research shows that Chipotle delivers greater value than their main competitors. So, Chipotle can charge a higher price and ___________, or they can charge the same price and _____________.
Amines accept protons from water in a reversible reaction, m…
Amines accept protons from water in a reversible reaction, making them.
When the arterial pressure falls, the baroreceptors cause:
When the arterial pressure falls, the baroreceptors cause:
A patient set up on pressure support ventilation (PSV) has a…
A patient set up on pressure support ventilation (PSV) has an average minute volume of 5.9 L. What should the low exhaled minute volume alarm be set at?
Which is a secondary alcohol?
Which is a secondary alcohol?
During the course of several patient-ventilator system check…
During the course of several patient-ventilator system checks a respiratory therapist notices that the patient’s peak inspiratory pressure (PIP) is rising, while the plateau pressure (Pplateau) has remained the same. This most likely indicates which of the following?