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ACC410 Solution Chapter 5

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Department
Accounting
Course
ACC 410
Professor
A L L A C C410
Semester
Winter

Description
Chapter 5 Job Costing MULTIPLE-CHOICE QUESTIONS 5.12 Ans: C 5.13 Ans: C 5.14 Ans: C 5.15 Ans: B 5.16 Ans: B EXERCISES 5.17 A. Cost of Goods Manufactured = $277,000 B. Prime Costs = 183,400 Conversion Costs = Manufacturing Overhead = 192,200 C. Cost of Goods Sold = $290,300 D. Net Income = $58,500 5.19 A. Budgeted costs$83,000 B. Fee = $91,300 5.20 B. Budgeted overhead = $66 per hour C. Total Costs for Schuller: $4,814 5.21 A. Total Actual Costs Incurre$535,000 B. Overhead was underapplied by $55,000.5-2 Cost Management 5.23 A. Labour = $800 B. Overhead = $900 5.24 A. Ending WIP Balance = $36,000 B. Direct labour = $7,500 C. Direct materials = $19,500 5.25 A. Cost of goods manufactured $64,750 Cost of goods sold $2,000 5.26 Cost of goods manufactured = $ 59,580 5.28 A. Overhead estimated allocation rate = $1.60 per machine hour B. Overhead allocated to Job No. 21 = $25,600 C. Overapplied overhead = $16,000 PROBLEMS 5.34 A. Overhead estimated allocation rates: Machining: = $20 per machine hour Finishing: = 125% of direct labour cost B. Overhead cost
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