Question
Please i need some help i cannot figure this out at all!! information is below. Thank you! Highland industries makes custom yachts using a job
Please i need some help i cannot figure this out at all!! information is below. Thank you!
Highland industries makes custom yachts using a job cost accounting system. in anticipation of a busy year for 2019, highland's accountant estimated the following overhead costs for 2019:
Machinery maintenance 181,350
supervision 191,000
materials handling cost 67,000
building occupancy costs 98,270
indirect materials 31,650
in the past, highland has used direct labor hours to allocate overhead to the various yacht building jobs and they anticipate using the same for 2019. highland anticipates using a total of 72,000 direct labor hours in 2019. at the beginning of 2019, highland had no yachts in process or finished but did have 202,000 in raw materials left over from 2018. during 2019, highland began work on 3 yachts(A,B,C). they also purchased and paid for 2,355,000 in raw materials.
A. the predetermined overhead rate using direct labor hours for 2019 would be:
B. if the estimated direct materials for yacht A is 923,000 and the estimated direct labor hours for yacht A is 20,000(at 25$ per hour), what is the total estimated cost of yacht a?
C. if the job cost report showed that yacht b used 17,900 direct labor hours, what would be teh allocated cost of overhead to yacht b for 2019?
D. if for 2019, the actual direct labor hours spent on all yachts was 80,000 and all of teh actual overhead costs for 2019 came in exactly as planned, then overhead would be?
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