Elliott Company estimated that costs of production for the coming year would be Raw materials .................................. $
Question:
Raw materials .................................. $ 75,000
Direct labor ..................................... 90,000
Production overhead ........................... 135,000
Required:
a. Calculate the overhead rate for the next year, assuming that it is based on direct labor dollars.
b. Journalize the entry necessary to show the total cost of production for the month of May if the raw materials put into production totaled $6,000 and direct labor was $6,600.
c. If actual production overhead costs incurred in May were $9,550, calculate the overabsorbed overhead for the month.
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Related Book For
Accounting Texts and Cases
ISBN: 978-1259097126
13th edition
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
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