Question
Jenkins Company had the following information for the year: Direct materials used $ 302,600 Direct labor incurred (9,500 hours) $ 250,400 Actual manufacturing overhead incurred
Jenkins Company had the following information for the year:
Direct materials used $ 302,600
Direct labor incurred (9,500 hours) $ 250,400
Actual manufacturing overhead incurred $ 425,000
Jenkins Company used a predetermined overhead rate using estimated overhead of $382,500 and 8,500 estimated direct labor hours. Assume the only inventory balance is an ending Finished Goods Inventory balance of $19,700. What was adjusted cost of goods sold?
Manufacturing overhead was estimated to be $258,500 for the year along with 23,500 direct labor hours. Actual manufacturing overhead was $370,125, actual labor hours were 25,300. The predetermined overhead rate per direct labor hour would be:
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