Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ideal Computing uses a job order costing systen and computes its predetermined overhead rate annually on the basis of direct labor- hours. At the beginning
Ideal Computing uses a job order costing systen and computes its predetermined overhead rate annually on the basis of direct labor- hours. At the beginning of the year, it estimated that 85,000 direct labor hours would be required for the period's estimated level of client service. The company also estimated $935,000 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm's actual overhead cost for the year was $952,900 and its actual total direct labor was 89,050 hours. Required: 1. Compute the predetermined overhead rate. 2. During the year. Ideal Computing started and completed the Delph Company engagement. The following information was available with respect to this job: Direct materials Direct labor cost Direct labor hours worked $ 44,100 $ 30,000 340 Compute the total job cost for the Delph Company engagement Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH SUNOG Required 2 > Ideal Computing uses a job order costing systen and computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year, it estimated that 85,000 direct labor-hours would be required for the period's estimated level of client service. The company also estimated $935,000 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm's actual overhead cost for the year was 5952,900 and its actual total direct labor was 89,050 hours. Required: 1. Compute the predetermined overhead rate 2. During the year, Ideal Computing started and completed the Delph Company engagement. The following information was available with respect to this job Direct materials Direct labor cost Direct labor hours worked $ 44,100 $ 39,800 340 Compute the total job cost for the Delph Company engagement Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total job cost for the Delph Company engagement. (Round your intermediate calculations to 2 decimal places) Direct materials Direct labor overhead appled Total manufacturing cost
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started