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Amicable Company has just completed its first year of operations. During the year, Amicable Company purchased $524,000 of materials. The year-end balance reported in the
Amicable Company has just completed its first year of operations. During the year, Amicable Company purchased $524,000 of materials. The year-end balance reported in the raw materials account was $53,000. $35,000 of the raw materials consumed was considered as indirect materials and entered into manufacturing overhead. Amicable Company incurred $1,127,000 in total direct labor wages during the year. Factory workers are paid $23 per hour. Total manufacturing overhead during the year amounted to $396,000, which was $33,000 less than estimated. Total factory worker hours were 10% less than estimated. Amicable Companys manufacturing overhead was allocated using direct labor hours as the allocation base. Amicable Company charges any over or under-allocated manufacturing overhead to cost of goods sold. During the year, Amicable Company started and completed Job 003. This job consumed 15% of the total direct direct materials used this year and 25% of the direct labor hours. Determine the total cost for Job 003. Do not enter dollar signs or commas in the input boxes. Round the predetermined overhead to 2 decimal places. Round all other answers to the nearest whole number. Total Direct Material Costs: $Answer 436000 Total Direct Labor Hours: Answer 49000 Total Estimated Direct Labor Hours: Answer 54444 Total Estimated Manufacturing Overhead: $Answer 429000 Predetermined Overhead Rate: $Answer 7.89 Direct Material Costs Job 003: $Answer 8 Labor Costs Job 003: $Answer 12250 Manufacturing Overhead Job 003: $Answer 96548 Total Costs Job 003: $
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