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CarsonWentz Company uses a job-order costing system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor-hours. Last year,
CarsonWentz Company uses a job-order costing system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor-hours. Last year, manufacturing overhead and direct labor-hours were estimated at $74,980 and 16,300 hours respectively, for the year. In June, job #315 was completed. Materials costs on the job totaled $1,530 and labor costs totaled $2,072 at $5.60 per hour. At the end of the year, it was determined that the company worked 15,000 direct labor-hours for the year, and incurred $72,400 in actual manufacturing overhead costs. Required: a. Determine the predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined Overhead Rate per DLH b. Determine the amount of overhead applied to all jobs during the year. (Round your intermediate calculations to 2 decimal places and final answer to the nearest dollar amount.) Applied Manufacturing Overhead c. Specify whether the overhead is underapplied or overapplied for the year, and by how much. (Input the amount as positive value.) overhead by d. Assuming that 100 units were completed, determine the unit cost that would appear on the job cost sheet for Job #315 only. (Round your intermediate calculations and final answer to 2 decimal places. ) Job #315 Unit Product Cost
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