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Category > Accounting Posted 21 Dec 2017 My Price 10.00

predetermined overhead rate based on machine hours.

Bread, Inc. uses a normal costing system with a predetermined overhead rate based on machine hours. At the beginning of the year, the company estimated manufacturing overhead for the year would be $240,000 and machine hours used would be 16,000.

 

The following information pertains to December of the current year:

 

                                                              Job #1                 Job #2                 Job #3

Work in process, 12/1                         $16,000              $26,000              $38,000

 

December production activity:

Direct materials used                             $4,000                $4,800                $7,200

Direct labor cost                                   $2,500                $3,700                $4,100

Machine hours                                           800                  1,400                  1,800

 

Actual manufacturing overhead costs incurred in December were $29,000. Each job was completed at the end of December.

 

(1) [4 pts.] Determine the amount of overapplied or underapplied overhead and state whether it is overapplied or underapplied: $___________________________________

 

 

 

 

 

 

 

(2) [6 pts.] Determine the total cost of each job:

 

Job #1: ____________

 

 

Job #2: ____________

 

 

Job #3: ____________

Answers

CourseLover
(12)
Status NEW Posted 21 Dec 2017 02:12 PM My Price 10.00

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