Homework Answers
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Answer
Actual overheads = 5,866,000 $
Overheads applied = Direct labour hour rate * Labour hours
worked
= 28.5 * 204282
=5,822,037 $
Variance = 5866000-5822037
= 43963 $ (UNDER APPLIED)
JOURNAL ENTRY
| Debit | Credit | |
| Cost of goods sold | 43963 | |
| Factory overhead | 43963 |
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The first three jobs that Southern Rim worked on had actual direct
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$190,000 for Job 303. For the year, actual manufacturing overhead
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Manufacturing overhead is applied to jobs on the basis of direct
labor costs using predetermined rates....
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