Rosemary is a brand manager for The North Face and manages t…

Rosemary is a brand manager for The North Face and manages their school backpack business. Her boss just asked her to bring their unit market share of the school backpack category in Upper Arlington to the board of directors call in five minutes. Rosemary pulled the data and here’s what she found. North Face: 20 backpacks ($20/unit), JanSport: 30 backpacks ($10/unit), Champion: 50 backpacks ($6/unit). What is The North Face’s UNIT market share:

Chapulin Co. uses a normal costing system and applies MOH to…

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?    

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.