Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Shire Company's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $765,000 of overhead costs and $510,000 of direct

image text in transcribed
image text in transcribed
Shire Company's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $765,000 of overhead costs and $510,000 of direct labor cost for the period. During March, Shire began and completed Job 56. 1. What is the predetermined overhead rate for this period? 2. Use the information on the following job cost sheet to determine the total cost of Job 56. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the predetermined overhead rate for this period? aces Numerator Overhead. Rate Denominator: Overhead Rate Overhead rato 1 RO Required 2 > Required 1 Required 2 Use the information on the following job cost sheet to determine the total cost of Job 56. (Round your answers to the nearest dollar amount.) JOB COST SHEET Customer's Name: Keiser Company Job Number: 56 Job Description: 3 customized systems Direct Materials Direct Labor Overhead Date Requisition Time-Ticket Total Cost Number Cost Cost Number Applied March 08 M.129 S 3,000 T-306 $ 610 S 915 March 11 M-142 6.750 1432 1.250 1.875 March 18 M-167 3.200 T 456 1 290 1,935

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Tony Davies, Ian Crawford

1st Edition

0273723073, 9780273723073

More Books

Students also viewed these Accounting questions