Question
1. Guapo Industries uses machine hours as its activity base for its manufacturing overhead. The estimate of annual overhead costs for its jobs was $1,606,987.
1. Guapo Industries uses machine hours as its activity base for its manufacturing overhead. The estimate of annual overhead costs for its jobs was $1,606,987. The company used 2,000 machine hours of processing on Job A during the period and incurred overhead costs totaling $2,100,000. The budgeted machine hours for the year totaled 30,812. How much overhead should be applied to Job A? Do not round intermediate calculations. Round the final answer to the nearest whole dollar.
2.During the year, Kwik Corporation expected Job Q to cost $404,763 of overhead, $610,000 of materials, and $240,000 in labor. Kwik applied overhead based on direct labor cost. Actual production required an overhead cost of $550,100, $599,923 in materials used, and $214,985 in labor. All of the goods were completed. What amount was transferred to Finished Goods? Do not round intermediate calculations. Round the final answer to a whole dollar.
Please help with these 2!! Will thumbs up!!!
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