Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please explain both question. Thanks a lot. FULL SCREEN PRINTER VERSION BACK estbank, Question 103 tar Company's accountants estimate total overhead for each month will
Please explain both question. Thanks a lot. FULL SCREEN PRINTER VERSION BACK estbank, Question 103 tar Company's accountants estimate total overhead for each month will be $64,000. They will allocate overhead on the basis of direct labour cost. During the current month, three jobs were work Direct material Direct labour Job 745 $36,000 $56,000 ob 746 $56,000 $72,000 lob 742 $24,000 $40,000 Job 745 was completed and sold, Job 746 was completed and Job 747 is still in process, Budgeted direct labour cost for the month was $160,000 and actual overhead was $65,800. Assuring overhead was $2,000 underapplied and that this amount is considered material, the balance of work in process after allocation of the underapplied overhead based on overhead charged to accounts during the periodis: $115,073 R6,456 $113,727 $79,50 By accewing this Question Assistance, you will learn while you earn potets based on the Paint Potential Policy set by your instructor ment NEZ Testbank, Question 105 Your answer is correct. Star Company's accountants estimate total overhead for each month will be $54 000. They will allocate overhead on the basis of direct labour cost. During the current month, three were worked Direct material Direct labour Job 765 $36,000 $56,000 Job 746 $56,000 $72,000 Job 747 $24,000 $40,000 Job 745 was completed and sold, ob 746 was completed and lob 747 is still in process udgeted direct labour cost for the month was $100.000 and actual overhead was $65.800 Assuming overhead was $100 underapplied and that this amount is considered immaterial, the final adjusted balance of cost of goods sold is: $92,100 $211,900 $114,500 $79,900
Please explain both question. Thanks a lot.
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