Atlantic Manufacturing Corp operates a job-order costing system and applies overhead cost to jobs on the basis of direct labor cost. The company has provided the following data:
(Amounts in dollars $)
Estimated direct labor cost	85,000
Actual direct labor cost	87,000
Estimated manufacturing overhead costs	148,750
Actual manufacturing overhead costs	147,300
Purchases of raw materials (all direct)	141,000
	Beginning	Ending
Raw materials	23,000	16,000
Work in Process	44,000	36,000
Finished Goods	90,000	63,000
Information about Job 137 (use to answer related question below):
Direct materials	3,200
Direct labor	4,200

Use the above to answer A-G

a)

Determine the predetermined overhead rate (POHR). Express your answer in decimal form (e.g., 1.23, not 123%). Do not include dollar signs or commas. Round your answer to the nearest two decimal places.

Answer:

B)Compute the amount of over(under)-applied overhead.

For overapplied amounts, enter as positive values. For underappliedamounts, enter as negative values using a leading minus sign (e.g., if overhead is underapplied by $500, enter -500)

Do not include dollar signs, commas or decimals in your responses. Round calculations to nearest whole dollar.

Answer:

C) Compute the amount of direct materials used in production during the period.

Do not include dollar signs, commas or decimals in your response.

Answer:

D) Compute cost of goods manufactured for the period.

Do not include dollar signs, commas or decimals in your response.

Answer:

E) Compute the amount of adjusted cost of goods sold for the period. Assume that all over/under-applied overhead is closed to COGS.

Do not include dollar signs, commas or decimals in your response.

Answer:

F) Refer to the schedule of beginning and ending balances. Assume direct labor makes up $9,000 of the ending Work in Process inventory balance. Compute the amount of direct materials included in ending Work in Process.

Do not include dollar signs, commas or decimals in your response.

Answer:

G) Job 137 was started and completed during the year (see above for data pertaining to this job). If the company's selling prices are based on a 40% markup over total job cost, what was the selling price for job 137?

Do not include dollar signs, commas or decimals in your response. Round to nearest whole dollar.

Answer: