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SweetTooth Corporation manufactures and sells Sweet candies which began operations on May 1,2022 , reported the following information. SweetTooth uses a normal cost system and
SweetTooth Corporation manufactures and sells Sweet candies which began operations on May 1,2022 , reported the following information. SweetTooth uses a normal cost system and applies manufacturing overhead to jobs on the basis of direct labor hours. Hourly pay is $20 per hour. On April 30.2023, job #859 was the only job that remained in production. That job had direct material and direct labor charges of $30,100 and $44,000, respectively. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Determine the company's predetermined overhead rate. Predetermined Overhead Rate =:$ per direct labor hour b) Determine the amount of under- or overallocated overhead. Actual Manufacturing Overhead: $ Allocated Overhead: $ c) Calculate the balance the company would report as ending WIP inventory. Direct Materials Used: 9 Directlabor: 4
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