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please help ! question 2 #2 Exercise 2-1 (Algo) Compute a Predetermined Overhead Rate [LO 2-1) Harris Fabrics computes its plantwide predetermined overhead rate annually
please help ! question 2
Exercise 2-1 (Algo) Compute a Predetermined Overhead Rate [LO 2-1) Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 35,000 direct labor hours would be required for the period's estimated level of production. The company also estimated $585,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour Harris's actual manufacturing overhead cost for the year was $722.932 and its actual total direct labor was 35,500 hours Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predelormined overhead rate per DLH Exercise 2-10 (Algo) Applying Overhead Cost to a Job [LO2-2] Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost Job V, which was started and completed during the current period, shows charges of $5,100 for direct materials, $8,600 for direct labor, and $5,504 for overhead on its job cost sheet. Job W. which is still in process at year-end, shows charges of $3 200 for direct materials and $5,200 for direct labor Required: 1a. Should any overhead cost be applied to Job Wat year-end? Yes No 16. How much overhead cost should be applied to Job W? Overidad cost O Yes O No 1b. How much overhead cost should be applied to Job W? Overhead cost 2. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year? Raw Materials O Work in Process Finished Goods #2
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