Determine and Use Overhead Rate

The following selected ledger accounts of Cameron Company are for February (the second month of its accounting year):

Materials InventoryFeb. 1 balance31,500February credits113,000February debits104,000Manufacturing OverheadFebruary debits137,200Feb. 1 balance11,600February credits136,350Work in Process InventoryFeb. 1 balance22,400February credits345,000February debits:Direct material95,000Direct Labor151,500Man. overhead136,350Wages PayableFebruary debits193,500Feb. 1 balance45,000February credits177,000Finished Goods InventoryFeb. 1 balance76,500February credits383,700February debits345,000

a. Determine the amount of indirect material requisitioned for production during February.

$Answer

b. How much indirect labor cost was apparently incurred during February?

$Answer

c. Calculate the manufacturing overhead rate based on direct labor cost.

Answer

%d. Was manufacturing overhead for February under- or overapplied, and by what amount?

Manufacturing overhead wasAnswer

over-applied

under-applied

by $Answer

for February.e. Was manufacturing overhead for the first two months of the year under- or overapplied, and by what amount?

Manufacturing overhead wasAnswer

over-applied

under-applied

by $Answer

for the first two months.f. What is the cost of production completed in February?

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g. What is the cost of goods sold in February?

$Answer