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Rhianna makes edgy women's custom t-shirts, Rhianna started her business this year, and she uses a normal costing system. The company has two direct cost
Rhianna makes edgy women's custom t-shirts, Rhianna started her business this year, and she uses a normal costing system. The company has two direct cost pools materials and labor, and one indirect cost pool, overhead Overhead is charged to jobs on the basis of direct labor cost. The following information is available for the most recent year Budgeted direct labor costs $304,698 Budgeted overhead costs $463,952 Costs of material actually used $385,831 Actual direct labor costs $357,265 Actual overhead costs $518,714 Rhianna had two jobs in process on December 31 of this year Jobs 75 and 76. There is no finished goods inventory because jobs are sent to customers as soon as they are completed. Direct costs associated with each job are below. Job 75 Job 76 Direct materials $9,867 $10,881 Direct labor $10.261 $15,387 Based on this data The predetermined overhead rate is $1.52 of manufacturing overhead for each dollar of direct labor costs -The total manufacturing cost for Job 75 is $35,725 - The total manufacturing cost for Job 76 is $49.656. Required: Using the data above, calculate the following round your answer to the nearest dollar. 1. The total manufacturing cost for both jobs together. Note that this value is the ending WIP 2. Cost of goods sold for the company before any adjustment for over or underapplied overhead
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