QUESTION 29

Ross Company uses a job order costing system with manufacturing overhead applied to products on the basis of direct labor hours. For the upcoming year, Ross Company estimated total manufacturing overhead cost at $66,000 and total direct labor hours of 4,000. During the year actual manufacturing overhead incurred was $65,250 and 3,950 direct labor hours were used.

Calculate the predetermined overhead rate.

QUESTION 29

Ross Company uses a job order costing system with manufacturing overhead applied to products on the basis of direct labor hours. For the upcoming year, Ross Company estimated total manufacturing overhead cost at $66,000 and total direct labor hours of 4,000. During the year actual manufacturing overhead incurred was $65,250 and 3,950 direct labor hours were used.

Calculate the predetermined overhead rate.

QUESTION 30

Refer to Ross Company. Calculate how much manufacturing overhead will be applied to production.

QUESTION 31

Refer to Ross Company. Is overhead over- or underapplied?

The overhead is underapplied.

The overhead is overapplied.

QUESTION 32

Refer to Ross Company. What account should be adjusted for over- or underapplied overhead? Should the balance be increased or decreased?

• Cost of goods sold, increased with a debit
• Work in process, decreased with a debit
• Work in process, increased with a credit
• Cost of goods sold, decreased with a credit

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