Please do not give solution in image format thanku At the beginning of the year, Yancey made the following estimates:Direct labor-dollars to support all productionsFixed overhead costVariable overhead cost per direct labor-dollarRequired:1. Compute the predetermined overhead rate.2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs:Direct materialsDirect labor cost$ 1,380,000$ 2,550,000Compute the total job cost for this particular film.Complete this question by entering your answers in the tabs given below.kRequired 1 Required 2Compute the total job cost for this particular film.Note: Round your intermediate calculations to 2 decimal places.Direct materialsDirect laborOverhead appliedTotal job cost$$ 8,500,000$5,100,000$ 0.090 Yancey Productions is a film studio that uses job-order costing. The company's direct materials include costumes and props. Its directlabor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation ofequipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based ondirect labor-dollars.At the beginning of the year, Yancey made the following estimates:Direct labor-dollars to support all productionsFixed overhead costVariable overhead cost per direct labor-dollarRequired:1. Compute the predetermined overhead rate.2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs:Direct materials.Direct labor cost$ 1,380,000.$ 2,550,000Compute the total job cost for this particular film.Complete this question by entering your answers in the tabs given below.Required 11 Required 2Compute the predetermined overhead rate.Note: Round your answer to 2 decimal places.Predetermined overhead rate$ 8,500,000$ 5,100,000$ 0.09per DLS

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Description: Please do not give solution in image format thanku At the beginning of the year, Yancey made the following estimates:Direct labor-dollars to support all productionsFixed overhead costVariable overhead cost per direct labor-dollarRequired:1. Compute t

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At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials. Direct labor cost. Compute the total job cost for this particular film. $ 1,380,000 $ 2,550,000 Complete this question by entering your answers in the tabs given below. Required 1 Required 2 Compute the total job cost for this particular film. Note: Round your intermediate calculations to 2 decimal places. Direct materials Direct labor Overhead applied Total job cost $ 8,500,000 $ 5,100,000 $0.09 0

At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials. Direct labor cost. Compute the total job cost for this particular film. $ 1,380,000 $ 2,550,000 Complete this question by entering your answers in the tabs given below. Required 1 Required 2 Compute the total job cost for this particular film. Note: Round your intermediate calculations to 2 decimal places. Direct materials Direct labor Overhead applied Total job cost $ 8,500,000 $ 5,100,000 $0.09 0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props, Its direct labor includes each film's actors, directors, and extras. The company's overnead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applles its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all produetions Pixed overhead cost Variable overhead cost per direct labor-dollar 5 8,390,000 $ 5,034.000 1 0.19 Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials pirect labor cost $1,446,000 2,517,000 Compute the total job cost for this particular film. Compute the predetermined overhead rate. (Round your answer to 2 decimal…
Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost Compute the total job cost for this particular film. $ 1,316,000 $ 2,523,000 Required 1 Required 2 Complete the question by entering your answers in the tabs given below.…
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Yancey Productions is a film studio that uses a job-order costing system. The company’s direct materials consist of items such as costumes and props. Its direct labor includes each film’s actors, directors, and extras. The company’s overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars.At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions . . . . . . $8,000,000Fixed overhead cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,800,000Variable overhead cost per direct labor-dollar . . . . . . $0.05 Required:1. Compute the predetermined overhead rate.2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,259,000Direct labor cost .…
Yancey Productions is a film studio that uses a job-order costing system. The company’s direct materials consist of items such as costumes and props. Its direct labor includes each film’s actors, directors, and extras. The company’s overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions $ 8,370,000 Fixed overhead cost $ 5,022,000 Variable overhead cost per direct labor-dollar $ 0.07 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials $ 1,420,000 Direct labor cost $ 2,511,000 Compute the total job cost for this particular film.
Yancey Productions is a film studio that uses a job-order costing system. The company's direct materials consist of items such as costumes and props. Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utilities, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to films based on direct labor-dollars. At the beginning of the year, Yancey made the following estimates: Direct labor-dollars to support all productions Fixed overhead cost Variable overhead cost per direct labor-dollar Required: 1. Compute the predetermined overhead rate. 2. During the year, Yancey produced a film titled You Can Say That Again that incurred the following costs: Direct materials Direct labor cost. Compute the total job cost for this particular film. $ 1,422,000 $ 2,469,000 Required 1 Required 2 Complete the question by entering your answers in the tabs given below. $…
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Speedy Auto Repairs uses job-order costing. Its direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output Fixed overhead cost Variable overhead cost per direct labor-hour Required: 1. Compute the predetermined overhead rate. 2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information pertains to his job: Direct materials Direct labor cost Direct labor-hours used 36,000 $ 540,000 $ 1.00 $ 685 $ 153 7 Compute Mr. Wilkes' total job cost. 3. If Speedy…
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Fogelin Promotional Services uses a job order system for costing and billing promotional services for dance and ballet performances. Fogelin has four public relations specialists and office staff. At the beginning of the year, Fogelin estimated the total cost of salaries and benefits for the public relations specialists at $403,300 and a total of 7,200 billable hours for the year. The office and administrative costs were estimated at $676,000. What direct labor rate would Fogelin use for the cost of its specialists? (Round your answer to the nearest cent.)
Shoostar Ltd is a video tech company that produces videos for companies’ marketing campaigns and video training content. All jobs are tailor-made to the clients’ requirements. The company uses a job costing system, and had 2 jobs in process at the start of the year: Job S1 ($66 000) and Job S3 ($55 000). The following information is available: (i) The company applies manufacturing overhead on the basis of video production hours. Budgeted overhead and video production activity for the year were anticipated to be $800 000 and 40 000 hours, respectively. (ii) The company worked on four jobs during the first quarter (i.e. from 1 July to 30 September). Direct materials used, direct labour incurred and video production hours were as shown in the following table: Job numbers Direct material Direct labour Video production hours S1 $ - $40 000 500 S2 50 500 23 000 1000 S3 - 65 000 1 500 S4 30 000 $40 000 2 000 (iii) Manufacturing…