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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 DOOR 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 S321,200 156.000 142.000 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, $565.000: Job 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. Check my work 1 1 HULLE OU LUS 20 point 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, 5606,000: Job 202. $565.000, Job 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 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 ollocate any over. or underapplied overhead to Cost of Goods Sold at the end of the year. Print Complete this question by entering your answers in the tabs below. Reg 1A Reg 10 Req 1C Reg 2 Determine the predetermined overhead rate for the year. Predetermined overhead rate Choose Numerator Choose Denominator Accounts receivable Cost of goods sold Predetermined overhead rate Predetermined overhead role 0 Reg18 > 1 Check my work ra. U preur UVU TURU 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 underappiled 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. Book Print References Reg 1A Reg 13 Reg 10 Reg 2 Determine the total overhead cost applied to each of the six jobs during the year. Job No. Direct Labor Overhead coat applied 201 606,000 202 565.000 203 300,000 204 718,000 205 316.000 206 19,000 Total 5 2.524,000 $ Problem 15-4A Sed Help Save & Est Submit 1 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. ebook Reg 1A Reg 1B planc Reg 2 Neferences Determine the over- or underapplied overhead at the year-end. Factory Overhead Reg 10 Reg 2 > 1 Keg LA Ke 10 KG 10 Keg 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 Journal entry worksheet Print Hoferecer Record the entry to allocate any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. Note Enter des before credits Debit General Journal Credit Date Dec 31 View general journal Record entry Clear entry
