Question
a. A company purchased $2,450 worth of merchandise during the month, and its monthly income statement shows cost of goods sold of $2,150. What was
a. A company purchased $2,450 worth of merchandise during the month, and its monthly income statement shows cost of goods sold of $2,150. What was the beginning inventory if the ending inventory was $1,000?
b. A company estimates its manufacturing overhead will be $472,500 for the next year. What is the predetermined overhead rate given the following independent allocation bases? When required, round your answers to nearest cent.
Budgeted direct labor hours: 42,000
$ per direct labor hour
Budgeted direct labor expense: $1,050,000
$ per direct labor dollar
Estimated machine hours: 70,000
$ per machine hour
c. A company has estimated their overhead will be $44,000, consisting of 4,000 hours of direct labor. The cost to make Job 0325 is $70 in aluminum and two hours of labor at $10 per hour. During the month, York incurs $50 in indirect material cost, $160 in administrative labor, $290 in utilities, and $240 in depreciation expense.
What is the predetermined overhead rate if direct labor hours are considered the cost driver?
$ per direct labor hour
What is the cost of Job 0325?
$
What is the overhead incurred during the month?
$
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started