#6

Tasty Bakery applies overhead based on direct labor costs. The company reports the following costs for the year: direct materials, $820,000; direct labor, $4,700,000; and overhead applied, $2,820,000. 1. Determine the company's predetermined overhead rate for the year. 2. The ending balance of its Work in Process Inventory account was $88,000, which included $37,000 of direct labor costs. Determine the direct materials costs in ending Work in Process Inventory. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 1 Required 2 Determine the company's predetermined overhead rate for the year. Overhead Rate Numerator: Denominator: Overhead Rate Overhead rate / TIL Accounts receivable Average raw materials inventory Cost of goods sold Net sales Cost of goods sold Net sales Rege Raw materials used Total direct labor costs Total overhead applied Required 1 Required 2 The ending balance of its Work in Process Inventory account was $88,000, which included $37,000 of direct labor costs. Determine the direct materials costs in ending Work in Process Inventory. Ending balance of work in process inventory Direct materials cost in work in process inventory of its Work in Process Inventory account was $88,0 Determine the direct materials costs in ending Work in Process Invento Ending balance of work in process inventory IM Im Add: Direct labor in work in process inventory d 1 Add: Factory overhead in WIP inventory Less: Direct labor in work in process inventory Less: Factory overhead in WIP inventory