Question list

x$/$s Question $1$

x$/$s Question $2$

total labour$-$hours of $12,000.$ Actual labour$-$hours worked for the period January $1$ to November $30$ were $14,750.$

On December $1,$ the company had three jobs in process:

$($Click the icon to view the work$-$in$-$process data.$)$

During the month of December, the following costs were incurred by job:

$($Click the icon to view the costs organized by job.$)$

In addition, the company incurred the following costs during the month of December $($these costs have not yet been recorded in the books$)$:

$($Click the icon to view other costs incurred.$)$

$($i$)($Click the icon to view additional information.$)$

Required

Requirement $1.$ Calculate the budgeted overhead rate used by Petunia.

The budgeted overhead rate was $$12$ per direct labour hour.

Requirement $2.$ Calculate the unit cost of ending work$-$in$-$process inventory assuming that the number of units in the job$($s$)$ total $250$ units. $($Roun

The unit cost of ending work$-$in$-$process inventory assuming there are $250$ units is $$33\mathrm{.}36.$

Requirement $3.$ Calculate the cost of goods manufactured and the unadjusted gross margin for the month of December.

The cost of goods manufactured is $$30,717.$

The unadjusted gross margin is $$20,550.$

Requirement $4.$ Calculate the amount of over$-$ or underallocated overhe

The amount of overhead has been underallocated by $$17,732.$

Additional information

The balance in the Overhead Control account on December $1$ was $$195,630.$

There were no jobs in Finished Goods as of December $1.$

Jobs $815,822,823,$ and $824$ were completed during December.

Job $824$ is the only job in Finished Goods as of December $31.$

The company's pricing policy is $200\%$ of total manufacturing cost.

Other costs incurred

Work$-$in$-$Process data

Costs organized by job