Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

53A%252F%252Fblackboard.stetson.edu%252Fwebapps%252Fbla ter 15 Homework Saved Help 3 Exercise 15-11 Overhead rate; costs assigned to jobs LO P3 In December 2016, Shire Computer's management establishes the

image text in transcribed
image text in transcribed
53A%252F%252Fblackboard.stetson.edu%252Fwebapps%252Fbla ter 15 Homework Saved Help 3 Exercise 15-11 Overhead rate; costs assigned to jobs LO P3 In December 2016, Shire Computer's management establishes the 2017 predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimates that the company will incur $798,000 of overhead costs and $570,000 direct labor cost in year 2017. During March 2017, Shire began and completed Job 13-56. 1. What is the predetermined overhead rate for 2017? 2. Using the information on the following job cost sheet, determine the total cost of the job. ook Complete this question by entering your answers in the tabs below. int Required 1 Required 2 -int What is the predetermined overhead rate for 2017? ences Overhead Rate Choose Denominator: Choose Numerator: 1 Overhead Rate Overhead rate 1 Required Required 2 > ter 15 Homework Saved Help Save & Exit Check my 3 Exercise 15-11 Overhead rate; costs assigned to jobs LO P3 In December 2016, Shire Computer's management establishes the 2017 predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimates that the company will incur $798,000 of overhead costs and $570,000 of direct labor cost in year 2017. During March 2017, Shire began and completed Job 13-56. 1. What is the predetermined overhead rate for 2017? 2. Using the information on the following job cost sheet, determine the total cost of the job. Dok Complete this question by entering your answers in the tabs below. int int Required 1 Required 2 Using the information on the following job cost sheet, determine the total cost of the job. (Round your answers to the nearest dollar amount.) ences Total Cost JOB COST SHEET: Job No. 13-56 Direct Materials Direct Labor Requisition No. Amount Time-Ticket No. Amount Overhead Costs Applied Date $ $ 670 4-129 Mar. 8 Mar. 11 Mar. 18 4-142 7.000 T-306 6.750 T-432 3,450 T-456 1,310 1,330 4-167

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

7th Edition

978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018

Students also viewed these Accounting questions

Question

Example. Evaluate 5n+7 lim 7-00 3n-5

Answered: 1 week ago