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Problem 4-49 Application of Overhead; Cost Flows [LO 4-3, 4-4, 4-5] Haughton Company uses a job costing system for its production costs and a predetermined
Problem 4-49 Application of Overhead; Cost Flows [LO 4-3, 4-4, 4-5] Haughton Company uses a job costing system for its production costs and a predetermined factory overhead rate based on direct labor costs to apply factory overhead to all jobs. During the month of July, the firm processed three jobs: X13, X14, and X15, of which X13 was started in June. July 1 July 31 Inventories Direct Materials Work-in-Process 38,100 44,200 0 ? ? Finished Goods Cost of Goods Sold Direct materials purchased in July Materials issued to production: $ 71,000 X13 18,300 37,020 14,800 X14 X15 Factory labor hours used ($30/hour): 4,300 3,600 2,400 X13 X14 X15 Indirect labor 7,700 Other factory overhead costs incurred $139,500 891,000 196,500 139,100 64,000 Rent Utilities Repairs and maintenance Depreciation Other As of July 31, Job X13 was sold and Jobs X14 and X15 were still in process. Total factory overhead applied in July was $1,668,600. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Compute the predetermined factory overhead rate. Factory overhead rate % Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Compute the amount of the Direct Materials account at the end of July. Direct materials amount Complete this question by entering your answers in the tabs below. Required 3 Required 6 Required 1 Required 2 Required 4 Required 5 Required 7 Required 8 Compute the actual factory overhead cost incurred during the month of July Actual factory overhead cost Complete this question by entering your answers in the tabs below. Required 8 Required Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Compute the ending balance of the Work-in-Process Inventory account for July Job X14 Job X15 Total Direct materials Direct labor Applied overhead Complete this question by entering your answers in the tabs below. Required 5 Required 1 Required 2 Required 3 Required 4 Required 6 Required 7 Required 8 Prepare the Statement of Cost of Goods Manufactured for July Haughton Company Statement of Cost of Goods Manufactured For the month ended July 31 Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 1 Required 4 Required 5 Required 6 Required 7 Required 8 Compute the amount of overapplied or underapplied overhead Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Required 6 Required 2 Required 5 Required 7 Required 8 What is the cost per unit of Job X13 if it has a total of 100 units? (Round your answer to 2 decimal places.) Cost per unit Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 5 Required 7 Required 2 Required 4 Required 6 Required 8 Prepare the Statement of Cost of Goods Sold for July. Haughton Company Statement of Cost of Goods Sold For the month ended July 31 Cost of goods available for sale
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