Ask Experts Questions for FREE Help !
Ask
    sNoop26's Avatar
    sNoop26 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 1, 2013, 09:14 AM
    How to caculate total overhead applied
    During May, direct materials requisitioned from the storeroom amounted to $96,500, and direct labor incurred totaled $114,500. These figures are subdivided as follows:

    Direct Materials Direct Labor
    Job No. Amount Job No. Amount
    101 $5,000 101 $7,800
    115 19,500 103 20,800
    116 36,200 115 42,000
    Other 35,800 116 18,000
    $96,500 Other 25,900
    $114,500









    Job no. 115 was the only job in process at the end of the month. Job no. 101 and three "other" jobs were sold during May at a profit of 20% of cost. The "other" jobs contained material and labor charges of $21,000 and $17,400, respectively.

    General applies overhead daily at the rate of 150% of direct labor cost as labor summaries are posted to job orders. The firm's fiscal year ends on May 31.

    Instructions:
    a. Compute the total overhead applied to production during May.

    b. Compute the cost of the ending work in process inventory.

    c. Compute the cost of jobs completed during May.

    d. Compute the cost of goods sold for the year ended May 31.

    How do I do this?

Check out some similar questions!

The over or under applied overhead [ 1 Answers ]

Solid Office company manufactures tow types of CHAIRS Staff and Executive Chairs, Manufacturing overhead applied into production at a rate of 80% Per Machine Hour. Cost information are as follows: Staff Chair Executive chair Direct material cost $50 $75 Direct labor cost 35 35 Budgeted...

Manufacturing overhead is applied on the basis of direct labor cost, what overhead ra [ 0 Answers ]

A job order cost sheet for Aikman Company is shown below. Job No. 92 For 2,000 units Date Direct materials Direct labor Manufacturing Overhead Beg. Bal. Jan. 1 5,000 6,000 4,500 8 6,000 12 8,000 6,400 ...

Under or Over applied overhead [ 3 Answers ]

Dear sir please solve my this Multiple choice Question If a company has been using an overhead rate of Rs. 5.60 per machine hour. During the year, overheads of Rs. 275,000 were incurred and 48,000 machine Hours worked. Therefore, overheads were: A. Under-applied by Rs.7,600 B. ...

Predetermined Overhead Rate & Overhead Applied [ 1 Answers ]

B3 Company is a manufacturing firm that uses job-order costing. The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 24,000 machine-hours and incur $216,000 in manufacturing overhead...

View more questions Search
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.