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Foster Enterprises makes custom-order draperies. In late 2013, when managers prepared the budget for 2014, they estimated that manufacturing overhead would total $100,000. Because the
Foster Enterprises makes custom-order draperies. In late 2013, when managers prepared the budget for 2014, they estimated that manufacturing overhead would total $100,000. Because the production process is labor intensive, overhead is allocated to jobs based on direct labor hours. Managers expected total direct labor hours to amount to 400,000 hours. During March and April of 2014, employees worked on only three jobs. Relevant information for each job follows: Monthly Data Recorded March Job 76 Job 77 Job 78 Direct materials cost Direct labor cost Direct labor hours $12,986 $35,880 3,680 April Direct materials cost Direct labor cost Direct labor hours 0 $10,855 $ 6,250 $9,750 $22,8002,730 280 1,000 2,400 Job 76 was started in March, finished in April, and delivered to the customer in the same month. Job 77 was started in April, finished in April, and delivered to the customer in May. Job 78 was started in April and finished in May. What predetermined overhead rate will the company use for all jobs worked on during 2014? (Round Overhead rate to 2 decimal places, e.g. 15.25.) Overhead rate /DLH LINK TO TEXT Compute the cost of each job (don't forget to allocate overhead). (Round answers to the nearest whole dollar, e.g. 5,275.) Job 76 Job 77 Job 78 Compute the cost of each job (don't forget to allocate overhead). (Round answers to the nearest whole dollar, e.g. 5,275.) Job 76 Job 77 Job 78 Total costs LINK TO TEXT What was the Work in Process Inventory balance on March 317 On April 302 (Round answers to the March 31: April 30: LINK TO TEXT What was cost of goods manufactured for April? Cost of goods manufactured April 30: LINK TO TEXT What was cost of goods manufactured for April? Cost of goods manufactured LINK TO TEXT What was cost of goods sold for April? (Round answers to the nearest whole dollar, e.g. 5,275. Cost of goods sold Click if you would like to Show Work for this question: Open Show Work
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