Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Verizox company Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of

Verizox company Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $300,000. Estimated direct labor cost was $400,000 for 20,00 hours. Actual costs for the most recent month are summarized here: Item description

Direct labor ( 1500 hours) indirect cost 33,000
Indirect labor 4500
Indirect material 2500
factory rent 4200
factory supervision 4700
factory depreciation 5600
Factory janotorial work 1200
Factory insurance 2600
General adminstrative salaries 3100
Selling expenses 2300

1 Calculate the predetermined overhead rate?

2 Calculate the amount of applied manufacturing overhead?

3. Calculate actual manufacturing overhead cost?

4 compute over-or underapplied overhead?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions