Question
This is all of the information that was given for this question. Following is partial information for Delamunte Industries for the month of August: Work
This is all of the information that was given for this question.
Following is partial information for Delamunte Industries for the month of August:
Work In Process | |||
Balance, August 1 | $ | 135,000 | |
Direct materials used | 104,800 | ||
Direct labor | 169,000 | ||
Manufacturing overhead applied | 135,000 | ||
Jobs finished during August are summarized here:
Job # | Cost of Jobs Completed | ||
234 | $ | 61,950 | |
237 | 25,800 | ||
231 | 62,000 | ||
246 | 15,000 | ||
Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,800.
1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. (Round your answer to 2 decimal places.)
2. Determine the balance in Work in Process at the end of August.
3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31. (Round your "Predetermined Overhead Rate" to 2 decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started