Question : 156.Crystal Catering had three jobs in process as of January : 1302699

156.Crystal Catering had three jobs in process as of January 1, 2013:

Job 47              $2,500

Job 49              1,600

Job 50              3,600

In addition, Job 48was completed and awaiting shipmentonJanuary 1, 2013. Its cost was $5,600. During 2013, the company incurred the following costs:

Direct material              $ 135,000

Direct labor              120,000

Manufacturing overhead              110,000

At the end of 2013, two jobs were in process with costs incurred as of December 31, 2013:

Job 56              $5,200

Job 58              1,500

In addition, two jobs were completed and awaiting shipment at the end of 2013 with costs incurred as of December 31, 2013:

Job 55              $1,300

Job 59              3,300

Calculate the following amounts:

1.Beginning Work in Process

2.Ending Work in Process

3.Beginning Finished Goods

4.Ending Finished Goods

5.Cost of Goods Sold

157.Special Installations allocates overhead based on a predetermined overhead rate of $5.00 per direct labor hour.Job 25required 5tons of direct material at a cost of $400.00 per ton and took employees who earn $12.00 per hour a total of 65hours to complete. What is the total cost of Job 25?

158.FrinutCompany estimates the following overhead costs for the coming year:

Equipment depreciation$250,000

Equipment maintenance50,000

Supervisory salaries20,000

Factory rent100,000

Total$420,000

Frinutbudgeted$600,000 in direct labor costs and 14,000 machine hours for the coming year.

a. Calculate the predetermined overhead rate using direct labor costs as the allocation base.

b. Calculate the predetermined overhead rate using machine hours as the allocation base.

c.Which of the allocation bases is preferred and Why?

159.Barnett Brass allocates overhead based on machine hours.Estimated overhead costs for the year total $420,000 and the company estimates that it will use 42,000 machine hours during the year.Barnett Brass used 41,600machine hours during the year and incurred$424,320of overhead.

a.What is the overhead application rate for the year?

b.What is the amount of applied overhead for the year?

c.What is the amount of under or overapplied overhead for the year? Label as over or               underapplied.

d.              Why do you think you got the result you got in part c above when the actual overhead cost was morethan expected?

160.Ponder Plumbing uses job-order costing for each of its installations and repairs. Overhead is allocated based on the cost of plumberwages. At the start of the year, annual plumberwages were estimated to be $275,000 based on 17,600 labor hours, and company overhead was estimated to be $440,000.

a.Briefly state why the use of a predetermined overhead rate would be preferred to assigning actual overhead to repair jobs.

b.Suppose a job required parts costing $180 and plumbertime costing $1,800. How much will be the total cost of the job?