Calculating Cost of Finished and Unfinished Jobs
Following is partial information for Delamunte Industries for the month of August:
| Work In Process |
Balance, August 1 | $132,000 |
Direct materials | 114,800 |
Direct labor | 167,000 |
Applied overhead | 143,000 |
Jobs finished during August are summarized here:
Job # | Cost of Jobs Completed |
234 | $65,950 |
237 | 32,800 |
231 | 54,000 |
246 | 17,500 |
Required:
1.Determine the predetermined overhead rate if Delamunte applies overhead on the basis of direct labor dollars.
2. Determine the cost of unfinished jobs at August 31.
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