httpe//edugen willeyplus com/edagen/vtudentmainfrani ley PLUS Kimmel, Accounting, 6e PRIN OF ACCT I&II Read, study a Practice Assignment Gradebook ent open Assignmen MENT Problem 15-1A Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs 1, No. so was the only job in process. The costs incurred prior to January 1 on this job $13,560, and manufaduring $18,080. As of 1, Job been completed at a cost of $101.700 and was part of finished goods inventory. There was a$16.950 balance in the Raw Materials Inventory account. month the January, Lott Company began production on Jobs s1 and sz, and com pleted Jobs 50 and si. Jobs 49 and 50 were also sold on account during the for $137,860 respectively. The following additional events occurred during the month. 1. Purchased additional raw materials of $101,700 on account. 2. Incurred factory labor costs of $79.100, of this amount $18,080 related to employer payroll taxes. 3. Incurred manufacturing overhead costs as follows: indirect materials s19.210; indirect labor s22,600 depreciation expense on equipment $13,560; and various other manufacturing overhe d costs on account $18,080. 4. Assigned direct materials and direct labor to jobs as follows. $11,300 51 44,070 28,250 Calculate the predetermined overhead rate for 2017, assuming Lott Company estimates total manufacturing overhead costs of s949,200, direct labor costs of $791,000, and direct labor hours of 22,600 for the year. (Round answer to the nearest whole percent e.g. 25%) Predetermined overhead rate SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TExT LINK TO TEXT ement l Brinascealio l zauzehn Meca sens un All Rights Reserved. A Division of abnwarcasansaunc Version 4.22.2.9