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Please show ALL work and provide accurate answers. Thank You. Martinez Products, Inc. is a manufacturing company that uses a predetermined overhead rate to apply
Please show ALL work and provide accurate answers. Thank You.
Martinez Products, Inc. is a manufacturing company that uses a predetermined overhead rate to apply overhead to individual jobs. At 12/31/18, the company had the following account balances: Raw materials $50,000 WIP $ 45,920 (all Job 599) FG $80,950 At the beginning of 2019, the company made the following estimates Total estimated overhead costs$ 848,640 16,640 The company believes that direct labor hours drive MOH Total estimated direct labor hours During January 2019, the following activity occurred ob 599 Job 600 Materials purchased 48,500.00 Materials requisitioned (used 51,500.00 Direct labor costs ($15/hour) 21,120.00 Indirect factory labor ,850.00 Indirect materials (factory)5,800.00 Facilities Cost-Factory 37,650.00 Facilities Cost-S&A 12,855.00 Equipment costs-Factory 18,850.00 Equipment costs-S & A 2,355.00 30,260.00 S 21,240.00 12,675.00 $ 8,445.00 Job 599 (650 units) was completed during January. Job 600 was still in progress. 1. What was the predetermined MOH rate for 2019? 2. In January, what was the total cost incurred for Job 599? 3. What was the total cost of Job 599 . What was the cost per unit for Job 599? 5. What was the total cost of Job 600 through 1/31/19 6. What was the total amount for MOH applied during January? 7. What is the balance in the MOH account at 1/31/19? 8. Was MOH overapplied or underapplied in January? Type in over or under as your answer.)Step by Step Solution
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