Question
The following is production information for Camino Tractors Co. February 28 inventory of raw materials is $88,000. Raw materials purchases in March are $590,000
The following is production information for Camino Tractors Co. February 28 inventory of raw materials is $88,000. Raw materials purchases in March are $590,000 Factory payroll cost in March is $388,000 . Overhead costs incurred in March are: Indirect materials, $54,000 Indirect labor, $29,000 Factory rent, $34,000 Factory utilities, $24,000 Factory equipment depreciation, $53,000 . The predetermined overhead rate is 50% of direct labor cost. Job 200-006 is sold for $645,000 cash in March Below is a schedule of costs for the three jobs worked on in March. Job 202-002 was started in March. Job 200-006 Job 201-005 Balances on February 28: m Direct materials $30,000 $ 42,000 Direct labor 24,000 18,000 Applied 12,000 9,000 overhead Job 202-002 Costs during March: Direct materials 131,000 215,000 $105,000 Direct labor 102,000 153,000 104,000 Applied overhead Subtotals for March Totals (February and March) Status on March 31 Finished and sold Finished but unsold Unfinished Totals $72,000 42,000 21,000 Required: Calculate overhead to be applied in March and complete the above schedule. Enter amounts in whole numbers with NO DOLLAR SIGNS, NO DECIMALS and NO COMMAS.
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