Attorney Legal Forms by dxt20800

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									                                             Student Name:
                                                     Class:
                                                              Problem 3-25

Wood Grain Technology                       HOBART, EVANS, AND NIX
                                                Computations

         1) 1. Research & Documents predetermined overhead rate:
             Estimated overhead cost
             Estimated amount of allocation base
             Per hour

             Litigation predetermined overhead rate:
             Estimated overhead cost
             Estimated amount of allocation base
             Direct attorney cost (as percentage)


         2) 2. Overhead cost applied to case 418-3:
             Research & Documents overhead applied
             Litigation overhead applied
              Total overhead cost


         3) 3. Total cost of case 418-3:                                     Departments
                                                               Research &
                                                               Documents      Litigation   Total
             Legal forms and supplies
             Direct Attorney Cost
             Overhead cost applied
             Total cost


                                                               Research &
         4) 4. Under- or overapplied overhead:                 Documents      Litigation
             Departmentas overhead cost incurred
             Departmentas overhead cost applied:
              Underapplied (or overapplied) overhead
Given Data P03-25:

                     HOBART, EVANS, AND NIX

                                              Department
                                        Research &   Litigation
                                        Documents

Estimates, beginning of year:
 Research-hours                              24,000             -
 Direct attorney-hours                        9,000        18,000
 Legal forms & supplies                 $    16,000   $     5,000
 Direct attorney cost                   $   450,000   $   900,000
 Department overhead cost               $   840,000   $   360,000

Case 4108-3:
 Research-hours                                 26              -
 Direct attorney-hours                           7            114
 Legal forms & supplies                 $       80    $        40
 Direct attorney cost                   $      350    $     5,700

Actual data for all jobs during year:
 Research-hours                              26,000             -
 Direct attorney-hours                        8,000        15,000
 Legal forms & supplies                 $    19,000   $     6,000
 Direct attorney cost                   $   400,000   $   750,000
 Department overhead cost               $   870,000   $   315,000
                                                    Student Name:
                                                            Class:
                                                                     Problem 03-27

                               GITANO PRODUCTS

                                   Computations
1a.
Manufacturing overhead cost
Direct materials cost
Predetermined overhead rate

1b.
Raw materials inventory, beginning
Add, Purchases of raw materials
Raw materials available
Deduct: Raw materials inventory, ending
Raw materials used in production

Actual manufacturing overhead costs:
Indirect labor
Property taxes
Depreciation of equipment
Maintenance
Insurance
Rent, building
Total actual costs
Applied manufacturing overhead costs
Underapplied overhead


2.
                              PACIFIC MANUFACTURING COMPANY
                              Schedule of Cost of Goods Manufactured

Direct materials:
 Raw materials inventory, beginning
 Add purchases of raw materials
 Total raw materials available
 Deduct raw materials inventory, ending
Raw materials used in production
Direct labor
Manufacturing overhead applied to work in process
Total manufacturing costs
Add: Work in process, beginning

Deduct: Work in process, ending
Cost of goods manufactured
                                                     Student Name:
                                                             Class:
                                                                      Problem 03-27


3.
Cost of goods sold:
 Finished goods inventory, beginning
 Add: Cost of goods manufactured
 Goods available for sale
 Deduct: Finished goods inventory, ending
 Cost of goods sold


4.
Direct materials
Direct labor
Overhead applied
Total manufacturing cost
Price to customer


5.
The amount of overhead cost in Work in Process would be:
Direct materials cost
Overhead rate
Work in process overhead cost

The amount of direct labor cost in Work in Process would be:
Total ending work in process
Deduct:
 Direct materials
 Manufacturing overhead
Direct labor cost

The completed schedule of costs in Work in Process would be:
Direct materials
Direct labor
Manufacturing overhead
Work in process inventory
Given Data P03-27:

                         GITANO PRODUCTS

Manufacturing overhead cost              $      800,000
Direct materials to be used              $      500,000

Inventory:                                   Beginning        Ending
Raw materials                            $       20,000   $     80,000
Work in process                          $      150,000   $     70,000
Finished goods                           $      260,000   $    400,000

Actual costs incurred:
Purchase of raw materials (all direct)   $      133,000
Direct labor cost                        $       80,000
Manufacturing overhead costs:
Indirect labor                           $      170,000
Property taxes                           $       48,000
Depreciation of equipment                $      260,000
Maintenance                              $       95,000
Insurance                                $        7,000
Rent, building                           $      180,000

Job 215:
 Direct materials                        $        8,500
 Direct labor cost                       $        2,700
 % above job cost according to the
    accounting system                              25%

Direct materials                         $      24,000
Direct labor hours                              ?
Manufacturing overhead                          ?
Work in process inventory                $      70,000
                              Student Name:
                                      Class:
                                               Problem 3-31

3.
                          FROYA FABRIKKER A/S
                    Schedule of Cost of Goods Manufactured

Direct materials:




 Materials used in production
Direct labor
Mfg. overhead applied to work in process
Total manufacturing costs
Add: Work in process, beginning

Deduct: Work in process, ending
Cost of goods manufactured


4.
                FROYA FABRIKKER A/S
              Schedule of Cost of Goods Sold




Adjusted cost of goods sold
                           Student Name:
                                   Class:
                                            Problem 3-31


5.
                       FROYA FABRIKKER A/S
                         Income Statement




Net operating income


6.
                 FROYA FABRIKKER A/S
                     Price per Unit

Direct materials
Direct labor
Manufacturing overhead cost applied
 Total manufacturing cost
Add markup
Total billed price of job 412


Price per unit
Given Data P03-31:

                FROYA FABRIKKER A/S

Beginning estimates:
Manufacturing overhead cost              kr    360,000
Direct labor hours                                 900

Transactions:
Raw materials purchased                  kr    200,000
Raw materials requisitioned              kr    185,000
Utility bills                            kr     70,000
Costs for salaries and wages:
 Direct labor (975 hours)                kr    230,000
 Indirect labor                          kr     90,000
 Selling and admin salaries              kr    110,000

Maintenance costs                        kr      54,000
Advertising costs                        kr     136,000
Depreciation                             kr      50,000
 For factory assets                                 80%
 For sales and administrative assets                20%
Rental costs                             kr     120,000
 Space for factory                                  85%
 Space for sales & administration                   25%
Manufacturing overhead applied to jobs           ?
Cost of goods manufactured               kr     770,000
Sales on account                         kr   1,200,000
Cost of goods sold                       kr     800,000

Inventory balances:
 Raw materials                           kr     30,000
 Work in process                         kr     21,000
 Finished goods                          kr     60,000

Job 412:
 Direct Materials                        kr      8,000
 Direct labor hours                                 39
 Total direct labor cost                 kr      9,200
 Units                                               4
 % billed above cost                               60%

								
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