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Ludmilka [50]
3 years ago
10

Meenach Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-ho

urs. The company based its predetermined overhead rate for the current year on 66,000 direct labor-hours, total fixed manufacturing overhead cost of $99,000, and a variable manufacturing overhead rate of $4.50 per direct labor-hour. Recently Job X387 was completed and required 220 direct labor-hours.
Required:
Calculate the amount of overhead applied to Job X387. (Do not round intermediate calculations.)
Business
1 answer:
NNADVOKAT [17]3 years ago
4 0

Answer:

Allocated MOH= $1,320

Explanation:

Giving the following information:

Estimated fixed overhead= $99,000

Estimated variable overhead= $4.5 per unit

Estimated direct labor hour= 66,000

Recently Job X387 was completed and required 220 direct labor-hours.

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (99,000/66,000) + 4.5

Predetermined manufacturing overhead rate= $6 per direct labor hour

<u>Now, we can allocate overhead:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 6*220

Allocated MOH= $1,320

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The statement "in the cost approach to valuation, land value can be estimated by comparing sales of vacant land that are similar to the subject land" is true.

<h3>What is valuation?</h3>

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