Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Johnson Incorporated is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs.
Johnson Incorporated is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 95,000 and estimated factory overhead is $617,500. The following information is for September of the current year. Job A was completed during September, and Job B was started but not finished. September 1, inventories Materials inventory $ 7,500 Work-in-process inventory (All Job A) 31,200 67,000 104,000 Finished goods inventory Material purchases Direct materials requisitioned Job A Job B Direct labor hours Job A Job B Labor costs incurred Direct labor ($8.50/hour) Indirect labor Supervisory salaries Rental costs 65,000 33,500 4,200 3,500 65,450 13,500 6,000 Factory 7,000 Administrative offices 1,800 Total equipment depreciation costs Factory 7.500 1,600 12,000 Administrative offices Indirect materials used Required: 1. What is the total cost of Job A? 2. What is the total factory overhead applied during September? 3. What is the overapplied or underapplied overhead for September? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the total cost of Job A? (Do not round intermediate calculations.) Total cost Required 2 > Rental costs Factory 17.000 Administrative offices 1,800 Total equipment depreciation costs Factory 7,500 Administrative offices 1,600 Indirect materials used 12,000 Required: 1. What is the total cost of Job A? 2. What is the total factory overhead applied during September? 3. What is the overapplied or underapplied overhead for September? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the total factory overhead applied during September? (Do not round intermediate calculations.) Total overhead cost < Required 1 Required 3 > Administrative offices Indirect materials used Required: 1. What is the total cost of Job A? 7,500 1,600 12,000 2. What is the total factory overhead applied during September? 3. What is the overapplied or underapplied overhead for September? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the overapplied or underapplied overhead for September? overhead < Required 2
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