Carston Inc.

Work in process inventory for Carston Inc. at the beginning of the year was a single Job

T114:

Job #

Materials Labor

Overhead Total

T114

31500

16250

28750

76500 The company's

budgeted costs

for the year are

as follows:

Budgeted Overhead

Variable

Indirect

$ 68,000

Materials

Indirect Labor $ 56,000

Employee

$ 28,000

benefits

Fixed

Supervision

Depreciation $ 15,000

Total $ 13,000

$ 180,000 Budgeted

Direct Labor $ 90,000

Dollars

Rate Per Direct

200%

Labor Dollar The company's

actual costs

incurred

during the year

are as follows:

incurred by Jobs

Job #

T114

T119

T133

T136 Materials Labor

$ 2,000 $ 10,000

$ 24,000 $ 18,000

$ 8,000 $ 34,000

$ 1,000 $ 16,000

$ 35,000 $ 78,000 Other

$$$$$- Total

$ 12,000

$ 42,000

$ 42,000

$ 17,000

$ 113,000 Overhead

Indirect Materials and supplies

Indirect labor

Employee benefits

Depreciation

Supervision

Total Materials Labor

$ 60,000 $ $$ 50,000

$$$$$$ 12,000

$ 60,000 $ 62,000 Other

$$$ 33,000

$ 15,000

$$ 48,000 Total

$ 60,000

$ 50,000

$ 33,000

$ 15,000

$ 12,000

$ 170,000 What was the actual factory

overhead for Carston Inc. for

they year?

What was overapplied or

underapplied overhead for

the year? JobT114 was the only job completed and s

the

cost of goods sold for this job?

What was the amount of work-in-process