Aspen Company estimates its manufacturing overhead to be $635,000 and its direct labor costs to be $508,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $326,600. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $195,960. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,640. Actual manufacturing overhead for year 2 was $803,100. Manufacturing overhead is applied on the basis of direct labor costs.
Required: Prepare an entry to allocate over- or underapplied overhead to Work in Process, Finished Goods and Cost of Goods Sold.
Aspen Company estimates its manufacturing overhead to be $635,000 and its direct labor costs to be...
Aspen Company estimates its manufacturing overhead to be $506,000 and its direct labor costs to be $506,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $244,650. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $407,750. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $163,100. Actual...
Aspen Company estimates its manufacturing overhead to be $ 553,300 and its direct labor costs to be $ 503,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $ 370,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $ 222,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor...
Aspen Company estimates its manufacturing overhead to be $646,250 and its direct labor costs to be $517,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $151064. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $380,944. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $124,792. Actual...
Aspen Company estimates its manufacturing overhead to be $625,000 and its direct labor costs to be $500,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $195,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $325,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,000. Actual...
Aspen Company estimates its manufacturing overhead to be $608,400 and its direct labor costs to be $507,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $272,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $340,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $68,000. Actual...
Aspen Company estimates its manufacturing overhead to be $848,000 and its direct labor costs to be $530,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $166,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $291,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $116,000. Actual...
Aspen Company estimates its manufacturing overhead to be $765,000 and its direct labor costs to be $510,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $162,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $287,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $112,000. Actual...
Aspen Company estimates its manufacturing overhead to be $1,170,000 and its direct labor costs to be $600,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $180,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $305,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,000. Actual...
Aspen Company estimated its manufacturing overhead to be $1,073,000 and its direct labor costs to be $580,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $176,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $301,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $126,000. Actual...
Aspen Company estimates its manufacturing overhead to be $1,220,000 and its direct labor costs to be $610,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $182,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $307,000. Job 2-3, which is still in work- in-process inventory, had actual direct labor costs of $132,000....