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usinessCourse E Menu İ QUESTION! Not complete Marked out of 9.00 F Flag question Determine and Use Overhead Rate The following selectedledger accounts of Cameron Company are for February (the second month of ts accounting year) Fir Materials Inventory Feb. 1 balance 31,500 February credits 113,000 February debits 104,000 Manufacturing Overhead February debits 137,200 Feb. 1 balance 11,600 February credits 136,350 Work in Process Inventory Feb. 1 balance February debits: Direct material Direct Labor Man. overhead 22,400 February credits 345,000 95,000 151,500 136,350 Wages Payable February debits 193,500 Feb. 1 balance 45,000 February credits177,000 Finished Goods Inventory Feb. 1 balance 76,500 February credits 383,700 February debits345,000 a Determine the am O Type here to search 2"

Answer 1

a

Amount of Indirect materials = Materials credit-Direct materials used = 113000-95000= 18000

b

Indirect labor cost = 177000-151500= $25500

c

Manufacturing overhead rate = 136350/151500= 90%

d

Manufacturing overhead under-applied for February = 137200-136350= $850

e

Manufacturing overhead over-applied for first two months =11600+136350-137200= $10750

f

Cost of Production completed in February = $345000

g

Cost of goods sold in February = $383700