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Overhead is applied at a rate of: $10.00 per machine hour By July 31, Jobs 86 and 88 were completed, but Job 87 was still
Overhead is applied at a rate of: $10.00 per machine hour By July 31, Jobs 86 and 88 were completed, but Job 87 was still in production. On July 1 , the balance in Finished Goods inventory was $49,000, which was made up of two jobs, Job 82 , total cost $25,600 and Job 84 , total cost $23,400. During July, Job 82 and Job 86 were sold to customers. The company charges cost plus a 20% mark-up on cost as the sales price. During July, variable marketing expenses were 4% of sales and fixed marketing expenses
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