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How do i get e. and f. ? Kansas Company uses a job costing accounting system for its production costs. The company uses a predetermined

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How do i get e. and f. ?

Kansas Company uses a job costing accounting system for its production costs. The company uses a predetermined overhead rate based on direct labor-hours to apply overhead to individual jobs. The company prepared an estimate of overhead costs at different volumes for the current year as follows: Direct labor-hours Variable overhead costs Fixed overhead costs 150,000 $1,050,000 594,000 180,000 $1,260,000 594,000 $1,854,000 210,000 $1,470,000 594,000 $1,644,000 $2,064,000 Total overhead The expected volume is 180,000 direct labor-hours for the entire year. The following information is for March, when Jobs 6023 and 6024 were completed: Inventories, March 1 Materials and supplies Work-in-process (Job 6023) Finished goods Purchases of materials and supplies Materials 32,000 $167,000 $ 337,000 $401,000 $49,000 Supplies Materials and supplies requisitioned for production Job 6023 Job 6024 Job 6025 $136,000 105,000 75,000 17,000 Supplies $333,000 Factory direct labor-hours (DLH) Job 6023 Job 6024 Job 6025 10,000 DLH 9,500 DLH 6,000 DLH Labor costs $ 204,000 58,500 105,000 Direct labor wages (all hours @ $8) Indirect labor wages (13,000 hours) Supervisory salaries Building occupancy costs (heat, light, depreciation, etc.) Factory facilities Sales and administrative offices Factory equipment costs Power Repairs and maintenance Other $ 19,500 7,500 12,000 5,500 7,500 $ 25,000 (Note: Regardless of your answer to requirement a, assume that the predetermined overhead rate is $9 per direct labor-hour. Use this amount in answering requirements b through e.) Required: a. Compute the predetermined overhead rate (combined fixed and variable) to be used to apply overhead to individual jobs during the year. (Round your answer to 2 decimal places.) Answer is complete and correct. Predetermined overhead per DLH $10.30 rate b. Compute the total cost of Job 6023 when it is finished. Answer is complete and correct The total cost of Job $ 473,000 6023 c. How much of factory overhead cost was applied to Job 6025 during March? Answer is complete and correct Factory overhead cost of Job $ 54,000 6025 d. What total amount of overhead was applied to jobs during March? Answer is complete and correct Total amount of $ 229,500 overhead e. Compute actual factory overhead incurred during March. Actual factory overhead incurred f. At the end of the year, Kansas Company had the following account balances: Overapplied overhead Cost of goods sold Work-in-process inventory Finished goods inventory $ 2,000 2,980,000 115,000 247,000 Assuming that the overapplied overhead is not material, show the new account balances in the following table. Overapplied Overhead Cost of Goods Sold Work-in-Process Inventory Finished Goods Inventory

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