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Work-in-Process Inventory Costs Incurred as of Jobs in Progress at January 1 January 1 $25,000 Job A $15,000 Job B Job C $5,000 $45,000 TOTAL Work in Process Costs incurred in January Direct Labor hours Direct Materials Jobs Worked in January incurred Used $0 Job A 35 $4,500 Job B 90 $13,000 Job C 75 $8,500 Job D 120 $10,500 Job E 70 $18,000 Job F 45 $16,000 Job G 50 $11,500 Job H 60 $82,000 OTALS 545 Labor rate Average Labor Rate in January 25.00 per hour Manufacturing Overhead Application Rate Information $ 77,500 Estimated Total Overhead Costs Estimated Total Direct Labor Hours 500 January Overhead Application Rate Actual Overhead Costs Incurred in January Actual Overhead Costs Office Supplies $7,000 $9,500 Indirect Materia ls Indirect Labor $20,000 $3,000 Factory Cleaning $16,000 Depreciation $7,500 Utilities $12,000 Rent $75,000 TOTAL Inventory Inform ation Raw Materials Inventory, January 1 $10,000 $100,000 Raw Materials Inventory Purchases Work-in-Process Inventory, January 1 $45,000 Finished Goods Inventory, January 1 $0 Job C Job F Job G Job A Job B Job D Job H Job E TALS $0 Beginning Balance $0 Direct Materials Direct Labor $0 Overhead Applied $0 $0 $0 $0 $0 $0 $0 $0 $0 TAL Current Manufacturing Costs for January Cost of Goods Manufactured for January Cost of Goods Sold for January Raw Materials Inventory at January 31 Work-in-Process Inventory at January 31 Finished Goods Inventory at January 31 Link to Choices Choices Over/Under Applied Overhead at January 31 Overapplied Underapplied Work-in-Process Inventory Costs Incurred as of Jobs in Progress at January 1 January 1 $25,000 Job A $15,000 Job B Job C $5,000 $45,000 TOTAL Work in Process Costs incurred in January Direct Labor hours Direct Materials Jobs Worked in January incurred Used $0 Job A 35 $4,500 Job B 90 $13,000 Job C 75 $8,500 Job D 120 $10,500 Job E 70 $18,000 Job F 45 $16,000 Job G 50 $11,500 Job H 60 $82,000 OTALS 545 Labor rate Average Labor Rate in January 25.00 per hour Manufacturing Overhead Application Rate Information $ 77,500 Estimated Total Overhead Costs Estimated Total Direct Labor Hours 500 January Overhead Application Rate Actual Overhead Costs Incurred in January Actual Overhead Costs Office Supplies $7,000 $9,500 Indirect Materia ls Indirect Labor $20,000 $3,000 Factory Cleaning $16,000 Depreciation $7,500 Utilities $12,000 Rent $75,000 TOTAL Inventory Inform ation Raw Materials Inventory, January 1 $10,000 $100,000 Raw Materials Inventory Purchases Work-in-Process Inventory, January 1 $45,000 Finished Goods Inventory, January 1 $0 Job C Job F Job G Job A Job B Job D Job H Job E TALS $0 Beginning Balance $0 Direct Materials Direct Labor $0 Overhead Applied $0 $0 $0 $0 $0 $0 $0 $0 $0 TAL Current Manufacturing Costs for January Cost of Goods Manufactured for January Cost of Goods Sold for January Raw Materials Inventory at January 31 Work-in-Process Inventory at January 31 Finished Goods Inventory at January 31 Link to Choices Choices Over/Under Applied Overhead at January 31 Overapplied Underapplied