Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 $ 141,000 Direct materials used 118,800 Direct

Following is partial information for Delamunte Industries for the month of August:

Work In Process
Balance, August 1 $ 141,000
Direct materials used 118,800
Direct labor 161,000
Manufacturing overhead applied 133,000

Jobs finished during August are summarized here:

Job # Cost of Jobs Completed
234 $ 67,950
237 38,800
231 51,000
246 20,000

Required:

At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,600.

.

Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. (Round your answer to 2 decimal places.)

1. Predetermined Overhead Rate? $83 % of Direct Labor Cost.

2. Determine the balance in work in process at the end of August. Work in Process? $_________

.

3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31. (Round your "Predetermined Overhead Rate" to 2 decimal places.)

Direct Material Cost? $________

Applied Overhead? $_________

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

Students also viewed these Accounting questions

Question

Explain the forces that influence how people handle conflict

Answered: 1 week ago