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ivolga24 [154]
3 years ago
8

Alles Company uses a job costing system that applies factory overhead on the basis of direct labor dollars. No job was in proces

s on February 1. During the month of February, the company worked on these three jobs: Job Number B10 C44 G15 Direct labor ($7/hour) $ 54,000 ? $ 20,000 Direct materials 62,000 81,000 ? Overhead applied ? 45,750 16,000 During the month, the company completed and transferred Job B10 to the Finished Goods Inventory. Jobs C44 and G15 were not completed and remain in Work-in-Process at the cost of $348,650 at the end of the month. Actual factory overhead costs during the month totaled $68,500. Required: 1. What is the predetermined factory overhead rate? 2. Compute the amount of underapplied or overapplied overhead for February.
Business
1 answer:
Kazeer [188]3 years ago
4 0

Answer:

(a)

For Job G15:

Direct labor = $20,000

Overhead applied = 16,000

Overhead rate = \frac{16,000}{20,000}\times 100

                         = 0.8 × 100

                         = 80%

Overhead applied = Direct labor × 80%

                         = $20,000 × 80%

                         = $16,000

Overhead is applied on direct labor. Hence, rate is 80%.

Overhead for Job B10 = Direct labor × 80%

                                     = $54,000  × 80%

                                     = $43,200

Therefore,

Total overhead applied = $43,200 + 45,750 + 16,000

                                        = $104,950

(b) Hence,

Overapplied overhead for February:

= Total overhead applied - Actual Overhead

= $104,950 - $68,500

= $36,450

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