Answered step by step
Verified Expert Solution
Question
1 Approved Answer
a. Calculate NUVs predetermined overhead allocation rate. b. Calculate the total cost of Job 101. c. Calculate the amount Ending Work-in-Process at the end of
a. Calculate NUVs predetermined overhead allocation rate.
b. Calculate the total cost of Job 101.
c. Calculate the amount Ending Work-in-Process at the end of May.
***** Can you please show work so I can understand the answers please, thank you***
20. (9 points) NUV Company manufactures products to customer specifications and uses a job costing system accumulate production costs. Factory overhead cost is allocated based on direct labor hours. Current year budgeted direct labor hours were 40,560 and budgeted manufacturing overhead was $608,400. Job 101 job was started in April and completed in May of the current year. Job 202 was started in May but was not complete at the end of the period. Only Jobs 101 and 202 were worked on during the period. Additional information for the month of May follows. $ 70,000 41,000 $ 420,000 Inventories May 1: Materials Work-in-process Direct Material Purchases Direct Materials Used: Job 101 Job 202 Machine hours: Job 101 Job 202 Direct labor hours: Job 101 Job 202 Direct Labor costs $225,000 160,000 11,000 7,000 9,180 6,120 $22.00 per direct labor hourStep 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