ACCT 222 Problems Excel Template 4, Fall 2014

Name: Section: When totals are correct the cell will change to green. Exercise 4-8 1. Building Factory Maintenance Office Assembly Machining Total Direct charges Allocate building maintenance based on floor space: Assembly Machining Allocate factory office based on direct labor hours: Assembly Machining 2. Building Factory Maintenance Office Assembly Machining Total Direct charges Allocate building maintenance based on floor space: Factory office Assembly Machining Allocate factory office based on direct labor hours: Assembly Machining Name: Section: When totals are correct the cell will change to green. Problem 4-5 Units Expenses 1,000 2,000 4,000 Variable: Indirect materials Indirect labor Power Total variable Fixed: Straight-line depreciation Factory property tax Factory insurance Total fixed Total expenses Name: Section: When totals are correct the cell will change to green. Problem 4-6 Schedule for Distribution of Service Department Costs—Direct Method Bldg. Factory Description Maint. Office Mixing Blending Finishing Total Total from factory overhead analysis sheets Allocate building maintenance based on floor space: Mixing Blending Finishing Allocate factory office based on number of employees: Mixing Blending Finishing Total - direct and apportioned expenses Name: Section: When totals are correct the cell will change to green. Problem 4-9 1. 2. and 3. Direct Direct Applied Total Materials Labor Factory Production Job Cost Cost Overhead Cost 18AX 19BT 20CD 21FB Total Name: Section: When totals/final amounts are correct the cell will change to green. Problem 4-14 1. Predetermined rates: a. ÷ = ÷ = b. ÷ = ÷ = c. ÷ = ÷ = 2. Total cost of jobs: Job 101 Job 102 Job 103 Job 104 Job 105 Job 106 Total Materials Direct labor Total prime cost Direct labor cost Direct labor hour Machine hour Total cost using direct labor cost Total cost using direct labor hour Total cost using machine hour Estimated overhead Estimated labor cost Direct labor cost rate Estimated overhead Estimated labor hours Direct labor hour rate Estimated overhead Estimated machine hours Machine hour rate Applied overhead: Name: Section: When totals/final amounts are correct the cell will change to green. Problem 4-14 Name: Section: When totals/final amounts are correct the cell will change to green. Problem 4-14 3. Under- and overapplied overhead: Actual factory overhead Applied overhead: Direct labor cost Direct labor hour Machine hour Underapplied (overapplied) overhead 4. Direct Labor Cost Direct Labor Hour Machine Hour Name: Section: When application rates and totals are correct the cell will change to green. Problem 4-15 1. Application Rates Basis Bronzing Casting Finishing a. Direct labor cost b. Direct labor hours c. Machine hours 2. Cost of Production Job M45 - Direct Labor Cost Method Bronzing Casting Finishing Total Materials Direct labor cost Factory overhead Total production cost Job M45 - Direct Labor Hour Method Bronzing Casting Finishing Total Materials Direct labor cost Factory overhead Total production cost Job M45 - Machine Hour Method Bronzing Casting Finishing Total Materials Direct labor cost Factory overhead Total production cost Name: Section: When application rates and totals are correct the cell will change to green. Problem 4-15 3. Journal Entries GENERAL JOURNAL Account Titles Debit Credit a. Factory Overhead Accounts Payable b. Factory Overhead - Bronzing Factory Overhead - Casting Factory Overhead - Finishing Factory Overhead c. Work in Process Applied Factory Overhead - Bronzing Applied Factory Overhead - Casting Applied Factory Overhead - Finishing d. Applied Factory Overhead - Bronzing Applied Factory Overhead - Casting Applied Factory Overhead - Finishing Factory Overhead - Bronzing Factory Overhead - Casting Factory Overhead - Finishing e. Under- and Overapplied Overhead Factory Overhead - Bronzing Factory Overhead - Casting Factory Overhead - Finishing Name: Section: When subtotals and totals are correct the cell will change to green. Problem 4-16 Machining Assembly Total Actual costs incurred Allocation of building maintenance: General factory overhead Machining Assembly Allocation of general factory overhead: Machining Assembly Applied factory overhead: Machining Assembly Total applied factory overhead Machining - Assembly - Net Building Mainte-nance General Factory Overhead