Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Show Attempt History Current Attempt in Progress Vaughn Company produces high - quality microscopes for education and health care uses. The company uses a job

Show Attempt History
Current Attempt in Progress
Vaughn Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2021, the company estimated its manufacturing overhead would be $1,940,000 and that employees would work a total of 97,000 direct labor hours. During March, the company worked on the following five jobs.
\table[[Job,\table[[Beginning],[Balance]],\table[[Direct Materials],[added during],[March]],\table[[Direct Labor],[added during],[March]],\table[[Direct Labor Hours],[added during],[March]]],[134,$118,400,$4,000,$8,300,140],[158,121,400,2,300,12,120,200],[212,21,800,86,200,36,400,3,410],[287,34,200,71,900,31,840,2,760],[301,,18,820,21,805,1,320],[Total,$295,800,$183,220,$110,465,7,830]]
Jobs 134 and 158 were started in January, Jobs 212 and 287 were started in February, and Job 301 was started in March. During March, workers completed Jobs 134,158, and 212. Jobs 134 and 212 were delivered to customers during March.Assume that Vaughn Company prorates under- or overapplied overhead to the appropriate accounts. Calculate the allocated
amounts and adjust the account balances as needed. (Round percentage of total and final answers to 2 decimal places, e.g.5,235.75.)
eTextbook and Media
eTextbook
image text in transcribed

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

Study Guide To Accompany Intermediate Accounting Volume 1

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

10th Canadian Edition

1118300866, 978-1118300862

More Books

Students also viewed these Accounting questions