4 points 3 points 3 points Bryant Company a paarent company of Laudermilk design

Question

4 points

3 points

3 points

Bryant Company a paarent company of Laudermilk designs and builds fancy dining room tables for individual customers. On July 1, there were two jobs in process: Job 391 with a beginning balance of $21,700 and Job 392 with a beginning balance of $8,790. Overhead costs are applied by using a rate of 70% of direct labor costs. Both jobs are unfinished on July 31. Data on July costs for both jobs are as follows:
Job 391 Job 392 Direct Materials $5,100 $ 9,200 Direct Labor Cost 2,700 11,000



What is the total of the Work-in-Process Account at July 31? Answer
$28,000
$58,490
$68,080
$37,590
none of these

Explanation / Answer

Question 8
1.

Bryant Company a paarent company of Laudermilk designs and builds fancy dining room tables for individual customers. On July 1, there were two jobs in process: Job 391 with a beginning balance of $21,700 and Job 392 with a beginning balance of $8,790. Overhead costs are applied by using a rate of 70% of direct labor costs. Both jobs are unfinished on July 31. Data on July costs for both jobs are as follows:
Job 391 Job 392
Direct Materials $5,100 $ 9,200
Direct Labor Cost 2,700 11,000

What is the total of the Work-in-Process Account at July 31?
Answer

$37,590

4 points

Question 9
Question 9
1.

Wright’s Construction a parent company of Bryant builds custom houses for individual buyers. On June 1, it had one job started with a beginning Work-in-Process of $56,000. During June the job was finished and sold. Direct labor for the job in June was $75,000 and direct materials used were $57,000. Overhead is computed at a rate of 65% of direct labor. There is a markup of 35% on all sales. What was the selling price of the house?
Answer

$319,612.50



3 points

Question 10
Question 10
1.

Figure 5-6.
Laudermilk produces dairy equipment. Most of its jobs have a number of units per job. The company has two different departments through which all jobs pass. Overhead is applied using a plantwide rate of $13 per direct labor hour. Direct Labor wages average $8 an hour. Data for Job #3 for the year is:
Direct Materials $40,000
Direct Labor Costs
Dept. A 60,000
Dept. B 12,000
Machine hours used
Dept. A 200
Dept. B 2,400
Units Produced 20,000








Refer to Figure 5-6. Compute the total cost of Job #3.
Answer


$145,800



3 points

Question 11
Question 11
1.

Figure 5-6.
Laudermilk produces dairy equipment. Most of its jobs have a number of units per job. The company has two different departments through which all jobs pass. Overhead is applied using a plantwide rate of $13 per direct labor hour. Direct Labor wages average $8 an hour. Data for Job #3 for the year is:
Direct Materials $40,000
Direct Labor Costs
Dept. A 60,000
Dept. B 12,000
Machine hours used
Dept. A 200
Dept. B 2,400
Units Produced 20,000








Refer to Figure 5-6, compute the cost per unit.
Answer



none of these

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