Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

how to do the question?? Delights Auto Company uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of

how to do the question??

Delights Auto Company uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:

Machine hours required to support estimated production 100,000

Fixed manufacturing overhead cost $650,000

Variable manufacturing overhead cost per machine hour $3.00

During the year, Job 2014 was started and completed. The following information was available for this job

Direct materials requisitioned. $680

Direct labour 21 hours at $10 per hour

Machine hour used 40

during the year, the company worked a total of 126,000 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,350,000

(a) Compute the predetermined overhead rate.

(b)Determine the accumulated manufacturing costs assigned to Job 2014

(c)Determine the underapplied or overapplied overhead. how to do journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial Reporting and Analysis

Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon

6th edition

978-0078025679

Students also viewed these Accounting questions