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Check my work 1 At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 40 persons working an average of 3.000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for the year 20 points Dook Print Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 321,200 156,000 142.000 90,000 70,000 490,00 62,000 70,800 38,000 $1,440,000 References At year-end, records show the company incurred $1,542,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $606,000, Job 202, $565.000Job 203, $300,000; Job 204, $718,000: and Job 205, $316,000. In addition, Job 206 is in process at the end of the year and had been charged $19,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the total dverhead cost applied to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of the year. Complete this question by entering your answers in the tabs below. Problem 15-4A Seved Help Save & Exit Submit Check my work 1 ucedeu uveo CUS 20 points At year-end, records show the company incurred $1,542,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $606,000, Job 202, 5565,000, Job 203, $300,000; Job 204. $718,000; and Job 205, S316,000 In addition, Job 206 is in process at the end of the year and had been charged $19,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the total overhead cost applied to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end 2. Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of the year B Print forces Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 1C Reg 2 Determine the predetermined overhead rate for the year. Predetermined overhead rate Choose Numerator: 1 Choose Denominator Accounts receivable Cost of goods sold 1 Predetermined overhead rate Predetermined overhead rate Reg 10 > Problem 15-4A Seved Help Save & Exit Submit 1 Check my work Pepe PU UVROU TO POR U yos 1-b. Determine the total overhead cost applied to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Assuming that any over- or underapplied overhead is not material prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of the year. 20 points Complete this question by entering your answers in the tabs below. 00 Pint References Req 1A Reg 1B Reg 10 Reg 2 Determine the total overhead cost applied to each of the sto jobs during the year. Job No. Direct Labor Overhead cost applied 201 $ 606,000 202 565.000 203 300,000 204 718,000 205 316,000 206 19.000 Total $ 2.524,000 $ Problem 15-4A Help Save & Exit Submit 1 Check my work 1-a. Determine the predetermined overhead rate for the year 1-b. Determine the total overhead cost applied to each of the six jobs during the year 1-c. Determine the over- or underapplied overhead at the year-end. 2. Assuming that any over or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold at the end of the year 20 Do Complete this question by entering your answers in the tabs below. dok saic Pro Reg 1A Reg 16 Reg 2 Terences Determine the over- or underapplied overhead at the year-end. Factory Overhead 0 Problem 15-4A Sed Help Save & Exit Submit Check my work 1 HEQ weg 1 HOQ IL weg 2 1 Assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over or underapplied overhead to Cost of Goods Sold at the end of the year. 20 points View transaction list Book Journal entry worksheet 1 Referencer Record the entry to allocate any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. Note: Enter debts before credits Debit General Journal Date Credit Dec 31 Record entry Clear entry View general Journal
