Answer:
Fixed overhead rate = Total fixed manufacturing overhead cost / Total machine hours
= 352000 / 32000
= $ 11 per hour
Variable overhead rate = $ 3 per hour (given in question)
Total machine hours in JOB T687 = 40 hours
Calculation of total overhead applied in JOB T687:
Variable manufacturing overhead | 40 machine hours * 11 per hour | $ 440 |
Fixed manufacturing overhead | 40 machine hours * 3 per hour | $ 120 |
Total overhead applied in JOB T687 | $ 560 |
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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 32,000 Total fixed manufacturing overhead cost $ 352,000 Variable manufacturing overhead per machine-hour $ 3.00 Recently, Job T687 was completed with the following characteristics: Number of units in the job 10 Total machine-hours 40 Direct materials $ 675 Direct labor cost $ 1,350 The total job...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 32,000 $352,000 $ 3.ee Recently, Job T687 was completed with the following characteristics: Number of units in the job Total nachine-hours Direct materials Direct labor cost 10 40 $ 675 $1,350 The unit product cost for...
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