Homework Answers
Solution:
Calculation of predetermined manufacturing overhead rate :
As per the information given in the question a predetermined manufacturing overhead rate based on direct labor hours, is used to apply manufacturing overhead to jobs.
Thus the predetermined manufacturing overhead rate = Estimated manufacturing overhead cost / Estimated Direct labor Hours
We know that
Estimated manufacturing overhead cost = $ 414,000 ; Estimated Direct Labor Hours = 20,700
Applying the above information in the formula we have predetermined manufacturing overhead rate as
= $ 414,000 / 20,700
= $ 20
Thus the predetermined manufacturing overhead rate based on direct labor hours is = $ 20
Calculation of amount to be credited to Manufacturing overhead account :
The amount to be credited to Manufacturing Overhead account is calculated as follows :
= Actual Direct labor Hours * Predetermined overhead rate
We know that
Actual Direct labor Hours = $ 21,300 ; Predetermined overhead rate = $ 20
Applying the above information in the formula we have
= 21,300 * $ 20
= $ 426,000
Thus the amount to be credited to Manufacturing overhead account = $ 426,000
The solution is Option 4 = $ 426,000
Add Answer to:
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