Ch 15 Homework i Saved Help Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion 6 Diaz and Associates incurred the following direct labor costs in completing tax services job for a client. Diaz applies overhead at 50% of direct labor cost. 10 Hours Hourly Direct Labor on Tax Job Used Rate points Partner 5 500 Senior manager 12 200 Staff accountants 100 50 1. Determine the total cost of this tax services job. x Answer is not complete. Estimated Cost Direct labor type Hourly Hours used rate Labor Cost Total Cost Partner 5 $ 500.00 $ 2,500 Senior manager 12 $ 200.00 2,400 Staff accountants 00 $ 50.00 5,000 Total direct labor cost $ 9,900 Overhead OH Base OH rate Estimated Applied Overhead Total cost 2. If Diaz charged $20,000 for this tax services job, what is the gross profit for the job? Gross profitCh 15 Homework i Saved Help 8 Star Valle Promotions Builders Indirect materials $ 12, 000 $ 6,200 Indirect labor 55 , 50 46 , 800 10 Other overhead 17, 70 49, 800 points Overhead applied 92 ,200 96 , 800 Skipped Star Promotions 1-a. Determine whether overhead is overapplied or underapplied. 1-b. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Book Valle Builders 2-a. Determine whether overhead is overapplied or underapplied. Hint 2-b. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Print Req 1A Req 1B Req 2A Req 2B References Determine whether overhead is overapplied or underapplied. Factory Overhead-Star Req 1A Req 1B >