During January, Crane Company's manufacturing accounts contained the following manufacturing costs: raw materials $670, factory labor $6,100, manufacturing overhead $2,710, and Work in Process, $2,820. During January, time tickets show that the factory labor of $6,100 was used as follows: Job 1 $2,300, Job 2 $1,700, Job 3 $1,500, and general factory use $600. Record factory labor used. (Post material transactions to beginning balances. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead Work in Process Inve $ Balance $ Direct labor Indirect labor Balance $ Sunland Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. Raw Materials of $41,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,700 was classified as indirect materials. 3. Factory labor costs incurred were $60,500. 4. Time tickets indicated that $54,800 was direct labor and $5,700 was indirect labor. 5. 6. 7. Manufacturing overhead costs incurred on account were $84,800. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $94,200 were completed and transferred to finished goods. 8. Finished goods costing $78,200 to manufacture were sold. 1. Purchased raw materials 2. Direct materials 2. Indirect materials 3. Incurred factory labor 4. Direct labor 4. Indirect labor 5. Overhead costs incurred 6. Assigned overhead 7. Completed goods 8. Goods sold Manufacturing Costs Manufacturing Overhead Raw Materials Inventory Factory Labor $ During the first quarter, Bonita Company incurs the following direct labor costs: January $47,400, February $59,700, and March $69,900. For each month, indicate the amount of overhead assigned to production using a predetermined rate of 70% of direct labor cost. January February Amount of overhead assigned March Sunland Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $315,000 for the year, and machine usage is estimated at 125,000 hours. For the year, $391,572 of overhead costs are incurred and 131,100 hours are used. (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, eg. 1.25.) Manufacturing overhead rate $ per machine hour The law firm of Coronado Associates uses a job order cost system. Cost data for the month of March follow. 1. Purchased supplies on account $3,900. 2. Issued supplies $3,100 (60% direct and 40% indirect). 3. Assigned labor costs based on time tickets for the month which indicated labor costs of $80,200 (80% direct and 20% indirect). 4. Operating overhead costs incurred for cash totaled $50,600. 5. Operating overhead is applied at a rate of 90% of direct labor cost. 6. Work completed totaled $81,200. 1. Purchased supplies 2. Direct supplies 2. Indirect supplies Supplies 3. Direct labor 3. Indirect labor 4. Incurred overhead costs 5. Assigned overhead 6. Completed work Balance Service Contract Costs Service Salaries and Wages 1A S Operating Overhead