Maurice Tutor

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Category > Accounting Posted 18 Aug 2017 My Price 9.00

Rio Valde Co

23.     LO.4 (Cost accumulation in two departments) Rio Valde Co. uses a normal cost, job order costing system. In the Mixing Department, overhead is applied using machine hours; in Paving, overhead is applied using direct labor hours. In December 2009, the company estimated the following data for its two departments for 2010:

 

 

 

Mixing Department

Paving Department

Direct labor hours

12,000

28,000

Machine hours

60,000

12,000

Budgeted overhead cost

$480,000

$700,000

 

a.     Compute the predetermined OH rate for each department of Rio Valde.

b.    Job #220 was started and completed during March 2010. The job cost sheet shows the following information:

 

 

Mixing Department

Paving Department

Direct material

$22,600

$3,400

Direct labor cost

$1,250

$4,050

Direct labor hours

24

340

Machine hours

290

44

 

Compute the overhead applied to Job #220 for each department and in total.

 

The president of Rio Valde suggested that, for simplicity, a single predetermined overhead rate be computed using machine hours. How much overhead would have been applied to Job #220 if that single rate had been used? Would such a rate have indicated the actual overhead cost of each job? Explain.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 11:08 PM My Price 9.00

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