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Raw materials Work in process Finished goods $ 72,500 $ 18,200 $ 46,500 The company applies overhead cost to jobs on the basis of direct
Raw materials Work in process Finished goods $ 72,500 $ 18,200 $ 46,500 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $15.50 per direct labor-hour was based on a cost formula that estimated $620,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchased on account, $628,000. b. Raw materials used in production, $598.000. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services: direct labqr $570,000; Indirect labor, $150,000: selling and administrative salaries, $266,000, d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $418,000. e, incurred various manufacturing overhead costs (eg. depreciation, Insurance, and utilities), $470,000. 1. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor hours on all Jobs during the year 9. Jobs costing $1.717.900 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3.225,000. The jobs cost $1.727,900 to manufacture according to their job cost sheets 8. What is the total amount of actual manufacturing overhead cost incurred during the year
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