Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Aemale, SRL had only one job in process on February 1. The job had been charged with $1,000 of direct materials, $3,302 of direct labor
Aemale, SRL had only one job in process on February 1. The job had been charged with $1,000 of direct materials, $3,302 of direct labor and $5,382 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $21.10 per labor-hour. During February, the following information on Aemale's activities was recorded: Raw Materials: Beginning Balance $6,800 Purchased $44,700 Used in Production $45,300 Labor: Direct labor-hours worked during February 1,410 Direct labor cost incurred $19,000 Other information: Actual Manufacturing overhead incurred: $28,966 Work-in-Process Inventory, February 28: $12,800 Work-in-Process inventory on February 28 contains $2,921 of direct labor cost. The entry to dispose of the underapplied or overapplied manufacturing overhead for February would include a to the account Manufacturing Overhead
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