Biggs Company uses job order cost accumulation. Manufacturing costs for December were:

Jobs 50 and 51 were completed during December. The predetermined factory overhead rate is $4.50 per direct labor hour.
Required:
(1) Compute the total cost of Job 50.
(2) Determine the factory overhead costs applied to Job 52 during December.
(3) Compute the total factory overhead costs applied during December.
(4) Determine the actual December factory overhead incurred.
(5) How should the company dispose of any over- or under applied factory overhead, assuming that the amount is not significant in relation to total factory overhead?
(6) Calculate the amount of over- or under applied factory overhead for December.

Transcribed Image Text:

Work in Process, December 1 (Job 50). Materials and supplies requisitioned for: 54,000 45,000 37,500 25,500 3,500 Job 50.. Job 51 Supplies Job 50 Job 51 Factory direct labor hours: 3,500 3,000 2,000 Job 52 Labor costs: $102,000 15,000 6,000 3,500 6,000 5,000 Direct labor wages . Building occupancy costs. Factory equipment costs... Other factory costs....