Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Octillery Manufacturing Inc uses a job-order costing system. During the month materials purchased on credit amounted to 198,000; the raw materials issued to the production

Octillery Manufacturing Inc uses a job-order costing system. During the month materials purchased on credit amounted to 198,000; the raw materials issued to the production amounted to 195,000 of which 50,000 were indirect. Factory payroll incurred amounted to 370,000, paid in cash, of which 50,000 was indirect labor. The firm uses a predetermined overhead application rate of 120% of direct labor cost. Total overhead costs incurred during the month amounted to 372,800. The amount of OVER (UNDER) APPLIED OVERHEAD amount to _____________.

** INDICATE in the solution sheet whether MOH is OVERAPPLIED or UNDERAPPLIED.

CAUTION: If the answer is UNDERAPPLIED encode the minus sign before the numerical answer. Do not place any spaces.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Essentials Of Finance And Accounting For Nonfinancial Managers

Authors: Edward Fields

3rd Edition

0814436943, 9780814436943

More Books

Students also viewed these Accounting questions