Ch $3$ Problem

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Stellar Sound, Incorporated, which uses a job$-$order costing system, had two jobs in process at the start of $20\backslash$times $1$: job

$6\mathrm{.}25$

number $64($$$84,100)$ and job number $65($$$53,400).$ The following information is available:

points

a$.$ The company applies manufacturing overhead on the basis of machine hours $($based on practical capacity$).$ Budgeted overhead and machine activity for the year were anticipated to be $$808,000$ and $16,000$ hours, respectively.

b$.$ The company worked on four jobs during the first quarter. Direct materials used, direct labor incurred, and machine hours consumed were as follows:

$\backslash$table$[[$Job Number,$\backslash$table$[[$Direct$],[$Material$]],\backslash$table$[[$Direct$],[$Labor$]],\backslash$table$[[$Machine$],[$Hours$]]],[64,$$$21,000,$$$35,000,1,200],[65,0,,22,000,700],[66,44,000,65,000,2,000],[67,15,000,8,800,500]]$

c$.$ Manufacturing overhead during the first quarter included charges for depreciation $($$$32,100),$ indirect labor $($$$60,100),$ indirect materials used $($$$5,100),$ and other factory costs $($$$139,500).$

d$.$ Stellar Sound completed job number $64$ and job number $65.$ Job number $65$ was sold on account, producing a profit of $$34,800$ for the firm.

$5.$ Was manufacturing overhead under$-$ or overapplied for the first quarter of the year? By how much?

Note: Do not round intermediate calculations.

$\backslash$table$[[$The overhead was underapplied$],[$underapplied fo$..................................$ for the first quarter of the year by$],[$overapplied$]]$

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