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NEED HELP!!!!! READ THIS INFORMATION VERY CAREFULLY PLEASE THANK YOU. Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following
NEED HELP!!!!! READ THIS INFORMATION VERY CAREFULLY PLEASE THANK YOU. Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2015: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000 Determine the company's predetermined overhead rate for year 2015. Answer is complete but not entirely correct. Choose Numerator: Total overhead costs 1,800,000 Overhead Rate Choose Denominator: Total direct labor costs 3,000 I - - - Overhead Rate Overhead rate 60.000% 2. Assuming that the company's $71,000 ending Work in Process Inventory account for year 2015 had $20,000 of direct labor costs, determine the inventory's direct materials costs. Answer is complete and correct. Total cost of work in process Inventory Less: Direct labor Less: Factory overhead Direct materials $ 71,000 20,000 12.000 $ 39,000 3. Assuming that the company's $490,000 ending Finished Goods Inventory account for year 2015 had $250,000 of direct materials costs, determine the inventory's direct labor costs and its overhead costs. Answer is complete but not entirely correct. $ Direct labor Factory overhead costs 490 000 X 250.000
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