Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 15-11 Overhead rate; costs assigned to jobs LO P3 Shire Computer's predetermined overhead rate is based on direct labor cost. Management estimates the company

image text in transcribed
image text in transcribed
Exercise 15-11 Overhead rate; costs assigned to jobs LO P3 Shire Computer's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $689,000 of overhead costs and $530,000 of direct labor cost for the year. During March, Shire began and completed Job 13-56. 1. What is the predetermined overhead rate for the year? 2. Use the information on the following job cost sheet to determine the total cost of the job. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the information on the following job cost sheet, determine the total cost of the job. (Round your answers to the nearest dollar amount Job No: 13:56 JOB COST SHEET Customer's Name: Keiser Co. Job Description: 5 plasma monitors -61 inch Direct Materials Direct Labor Overhead Total Cost Date Requisition No. Amount Time-Ticket No. Amount Costs Applied Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the information on the following job cost sheet, determine the total cost of the job. (Round your answers to the nearest dollar amount.) Job No: 13.56 JOH COST SHEET Customer's Name Kaiser Co. Job Description: 5 plasma monitors 61 inch Direct Materials Direct Labor Date Requisition No. Amount Time Ticket No. Amount Total Cost Overhead Costs Applied $ 4-129 $ Mar 8 Mar. 11 Mar. 18 7.000 T 306 7,050 T-432 3,850 T-456 620 1,340 1.300 4.142 4-167

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A One-Year Accounting Course Part 2

Authors: Trevor Gambling

1st Edition

0080130267, 9780080130262

More Books

Students also viewed these Accounting questions

Question

Why is it important for an organization to have a website?

Answered: 1 week ago

Question

b. Did you suppress any of your anger? Explain.

Answered: 1 week ago