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Thanks for the help! Amicable Company has just completed its first year of operations. During the year. Amicable Company purchased $483,000 of materials. The year-end
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Amicable Company has just completed its first year of operations. During the year. Amicable Company purchased $483,000 of materials. The year-end balance reported in the raw materials account was $41,000. $22,000 of the raw materials consumed was considered as indirect materials and entered into manufacturing overhead. Amicable Company Incurred $420,000 in total direct labor wages during the year. Factory workers are paid $24 per hour. Total manufacturing overhead during the year amounted to $329,000. which was $36,000 less than estimated. Total factory worker hours were 15% less than estimated. Amicable Company's manufacturing overhead was allocated using direct labor hours as the allocation base. Amicable Company charges any over or under-allocated manufacturing overhead to cost of goods sold. During the year. Amicable Company started and completed Job 003. This job consumed 30% of the total direct materials used this year and 40% of the direct labor hours. Determine the total cost for Job 003. Do not enter dollar signs or commas in the input boxes. Round the predetermined overhead to 2 decimal places. Round all other answers to the nearest whole number Total Direct Material Costs: $ Total Direct Labor Hours: 17500 Total Estimated Direct Labor Hours Total Estimated Manufacturing Overhead: $ Predetermined Overhead Rate: $ Direct Material Costs Job 003: $ Labor Costs Job 003: $ Manufacturing Overhead Job 003: $ Total Costs Job 003: $Step by Step Solution
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