Homework Answers
| 1-a) | predetermined overhead rate = estimated overhead/estimated direct labor cost | |||||||
| 1,500,000/(50*2000*25) | ||||||||
| 0.6 | ||||||||
| 60% | ||||||||
| 1-b) | total overhead cost applied to each jobs | |||||||
| job no | Direct | overhead | ||||||
| labor | applied | |||||||
| 201 | 604,000 | 362400 | ||||||
| 202 | 563,000 | 337800 | ||||||
| 203 | 298,000 | 178800 | ||||||
| 204 | 716,000 | 429600 | ||||||
| 205 | 314,000 | 188400 | ||||||
| 206 | 17,000 | 10200 | ||||||
| total | 2,512,000 | 1507200 | ||||||
| 1-c) | Factory overhead | |||||||
| Actual overhead cost | 1,520,000 | 1507200 | Applied overhead cost | |||||
| underapplied overhead | 12,800 | |||||||
| 2) | Date | General Journal | Debit | Credit | ||||
| 31-Dec | Cost of goods sold | 12,800 | ||||||
| Factory overhead | 12,800 | |||||||
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