Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please explain how and not only provide the answer. Please type out the answer and not use hand writing. Thank you. Verizox Company uses a

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Please explain how and not only provide the answer. Please type out the answer and not use hand writing. Thank you.

Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $185.000. Estimated direct labor cost was $429,200 for 18.500 hours. Actual costs for the most recent month are summarized here: Total Cost $ 42,921 Item Description Direct labor (1,850 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory insurance General and administrative salaries Selling expenses 2.430 3,410 3,370 4,860 5,620 1,220 1,720 4,240 5,460 Required: 1. Calculate the predetermined overhead rate. 2. Calculate the amount of applied manufacturing overhead. 3. Calculate actual manufacturing overhead costs. 4. Compute over- or underapplied overhead. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined Overhead Rate Per DL Hour Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 11 Required 2 Required 3 Required 4 Calculate the amount of applied manufacturing overhead. Applied Manufacturing Overhead Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate actual manufacturing overhead costs. Actual Manufacturing Overhead Costs Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute over- or underapplied overhead. (Input the amount as positive value. Overhead

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_2

Step: 3

blur-text-image_3

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

Unclaimed Property A Reporting Process And Audit Survival Guide

Authors: Tracey L. Reid

1st Edition

0470278242, 978-0470278246

More Books

Students also viewed these Accounting questions