How would you do 1-c and 2
Connect D Free Homework O Accounting Hw: e Chegg Study G Connect G what Chegg Study G x G Assuming that e -1 haha mai Secure https:/ewconnect.m w/connect.html CH 15 Exercises and Problems Help Save & Exit Submit Check my work 5 In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 20 points Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense Factory equipnent Factory supplies used 336.29e 276,000 157,890 185,888 85,8e 625,89 77,800 85,8ee 53,800 eBook scellaneous production costs Total estinated overhead costs Print $1,800,eee At the end of 2017, records show the company incurred $1,979,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $621,000; Job 202, $580,000: Job 203. $315,000; Job 204, $733.000: and Job 205, $331,000. In addition, Job 206 is in process at the end of 2017 and had been charged $34,000 for direct labor. No jobs were in process at the end of 2016. The company's predetermined overhead rate is based on direct labor cost Required 1-a. Determine the predetermined overhead rate for 2017. 1-b. Determine the total overhead cost applied to each of the six jobs during 2017. 1-c. Determine the over- or underapplied overhead at year-end 2017. 2. Assuming that any over-or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of 2017 Complete this question by entering your answers in the tabs below Req 1A Req 1B Req 1c Req 2 Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of 2017 View transaction list
