Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume a company had no jobs in progress at the beginning of July and no beginning inventories. It started and completed only 2 jobs during

Assume a company had no jobs in progress at the beginning of July and no beginning inventories. It started and completed only 2 jobs during July. Job Y and Job Z. The company uses a plantwide predetermined overhead rate based on direct labor - hours. The following additional information from the month of July is available for the company as a whole and for jobs y and job z.

Estimated total fixed manufacturing overhead = $15,000

estimated variable manufacturing overhead per direct labor hour = $2.00

estimated direct labor hours to be worked = $2,000

Total actual manufacturing overhead costs incurred = $12,800.

Direct Materials for job y = 13,000

Direct Materials for job z = 8,000

direct labor costs for job y = 21,000

direct labor costs for job z = 7,500

actual direct labor hours worked fr job y= 1,400

actual direct labor hours worked for job z = 500

what is the plantwide predetermined overhead rate?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Accounting And Principles Of Financial Accounting

Authors: Belverd E Needles, Marian Powers, Susan V Crosson

12th Edition

1133962459, 9781133962458

More Books

Students also viewed these Accounting questions

Question

Always show respect for the other person or persons.

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago