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Coronado Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2022, Job

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Coronado Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2022, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 21,400, direct labor $ 12,840, and manufacturing overhead $ 17,120. As of January 1. Job 49 had been completed at a cost of $ 96,300 and was part of finished goods inventory. There was a $ 16,050 balance in the Raw Materials Inventory account During the month of January, Coronado Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold during the month. The following additional events occurred during the month. 1 2 3. Purchased additional raw materials of $ 96,300 on account Incurred factory labor costs of $ 74,900 Incurred manufacturing overhead costs as follows: indirect materials $ 18.190: Indirect labor $21.400 depreciation expense on equipment $ 12,840; and various other manufacturing overhead costs on account $17,120. Assigned direct materials and direct labor to jobs as follows. 4 Job No. Direct Materials Direct Labor 50 $ 10,700 $5.350 51 41730 26.750 52 32.100 21.400 Calculate the predetermined overhead rate for 2022, assuming Coronado Company estimates total manufacturing overhead costs of $ 898,800 direct labor costs of $ 749,000, and direct labor hours of 21400 for the year. (Round answer to the nearest whole percent, s. 25%) Predetermined overhead rate 96 e Textbook and Media Open job cost sheets for Jobs 50,51, and 52. Enter the January 1 balances on the job cost sheet for Job 50. Job No. 50 Date Direct Materials Direct Labor Manufacturing Overhead Beg. Jan. $ $ Cost of completed job Direct materials s Direct labor Manufacturing overhead S Total cost Job No. 51 Date Direct Materials Direct Labor Manufacturing Overhead Jan $ $ $ $ Cost of completed job Direct materials Direct labor Manufacturing overhead Total cost S Job No. 52 Date Direct Materials Direct Labor Manufacturing Overhead Jan S $ $ Question 13 of 13

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