Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mansfield Heating & Cooling installs and services commercial heating and cooling systems. Mansfield uses job costing to calculate the cost of its jobs. Overhead is
Mansfield Heating & Cooling installs and services commercial heating and cooling systems. Mansfield uses job costing to calculate the cost of its jobs. Overhead is atocated to each job based on the number of direct labor hours spent on that job. Al the beginning of the current year, Mansfield estimated that its overhead for the coming year would be $63,750. It also anticipated using 4,250 direct labor hours for the year. In November, Mansfield started and completed the following two jobs: (Click the icon to view the jobs.) Mansfield paid a $32-per-hour wage rate to the employees who worked on these two jobs Requirement 1. What is Mansfield's predetermined overhead rate based on direct labor hours? Determine the formula to calculate Mansfield's predetermined overhead rate based on direct labor hours, then calculate the rate Predetermined overhead rate Direct materials used.... Direct labor hours used.... per hour Requirement 2. Calculate the overhead to be allocated to each of the two jobe based on direct labor hours. Data table Job 101 Job 102 Overhead costs Requirement 3. What is the total cost of Job 1017 What is the total cost of Job. 102? T Calculator Job 101 Job 102 8 2 So " $ 54 #3 W E R S S D % 85 MacBook Pro 66 7 100 " & 39 7 8 3: Job 101 $ 16.500 $ 195 Job 102 12.500 82 Print Done T Y U 1 8 D A F10 02 ( 6 ) 0 0 - F Of Next 80 +11 ( P } [ ] F G H J K L i del
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