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Sino-Beauty Swims in the Dot-Com Sea: Job Order Costing

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Case 1 - Sino Beauty - job order costing

CASE 1
SINO-BEAUTY SWIMS IN THE DOT-COM SEA: JOB ORDER COSTING

1. Define and explain the meaning of a predetermined manufacturing overhead rate that is applied in a job-order costing system.
Predetermined overhead rate allows manufacturing overhead to be broken down and associated with the percentage of work that was done with each job order. Since manufacturing overhead is an indirect cost, and not directly, or easily related to each job, a predetermined rate allows the cost to be associated with a job. Based on historical data, a rate is estimated.

2. What are the advantages and disadvantages to using the cost of each print as a manufacturing overhead cost driver?

Advantages- By using the cost of each print as the manufacturing overhead driver it makes the information simple to collect. It is a relatively simple to measure and calculate, even in real time.

Also, costs can be more accurate.

Disadvantages-Framed and Unframed have very different requirements for manufacturing. The framed prints require a lot more direct labor and manufacturing, almost double the amount required by the unframed prints. In the end, the contribution margin on the unframed prints, ends up covering for part of the margin on the framed prints.

Could be time consuming to cost each print.

3. Using the information below, compute and interpret the predetermined manufacturing overhead rate for WallDecor.
The over all rate predetermined rate of manufacturing is 0.25Yuan per the price of the print.
Unframed prints- 3 Yuan
Steel Framed, no matting- 4 Yuan
Wood Framed, with matting- 5Yuan

4. Compute the product cost for the following three items.
a) Yao Min unframed print (base cost of print 12 Yuan).
Direct Material Print- 12 Yuan
Direct Labor – 2 Yuan
Variable Cost- 14 Yuan
Predetermined Overhead Rate- 3 Yuan
Product

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