Budgeted overhead for July 2022 Budgeted machine hours for July 2022 Budgeted direct material cost for...

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Budgeted overhead for July 2022 Budgeted machine hours for July 2022 Budgeted direct material cost for July 2022 Budgeted direct labor cost for July 2022 (@ $36/hour) Actual machine hours for Job #10 and #11 $486,000 6,000 $540,000 $324,000 3,000 3,200 Actual direct material cost for Job #10 and #11 $260,000 $250,000 Actual direct labor cost for Job #10 (4,600 hours) and #11 (4,200 hours) $170,000 $160,000 Actual overhead for July 2022 $490,000 The above is information of Zelda Co. for July 2022. In the period, Zelda finished two jobs: #10 and #11. Calculate the amount of overhead applied to the two jobs: 1. Assume machine hour is the cost driver 2. Assume direct material cost is the cost driver 3. Assume direct labor cost is the cost driver 4. Assume direct labor hour is the cost driver Is total overhead over- or underapplied? Assume the difference is insignificant, should you increase or decrease COGS at the end of the period? Budgeted overhead for July 2022 Budgeted machine hours for July 2022 Budgeted direct material cost for July 2022 Budgeted direct labor cost for July 2022 (@ $36/hour) Actual machine hours for Job #10 and #11 $486,000 6,000 $540,000 $324,000 3,000 3,200 Actual direct material cost for Job #10 and #11 $260,000 $250,000 Actual direct labor cost for Job #10 (4,600 hours) and #11 (4,200 hours) $170,000 $160,000 Actual overhead for July 2022 $490,000 The above is information of Zelda Co. for July 2022. In the period, Zelda finished two jobs: #10 and #11. Calculate the amount of overhead applied to the two jobs: 1. Assume machine hour is the cost driver 2. Assume direct material cost is the cost driver 3. Assume direct labor cost is the cost driver 4. Assume direct labor hour is the cost driver Is total overhead over- or underapplied? Assume the difference is insignificant, should you increase or decrease COGS at the end of the period?

Answer rating: 100% (QA)

1 Machine hours as the cost driver Total budgeted overhead 486000 Total budgeted machine hours 6000 ... View the full answer