How did they find the over head rate percentages for current year and last year? A job

How did they find the over head rate percentages for current year and last year?

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A job order cost sheet for Cullumber Company is shown below. Job No. 92 For 2,000 Units Date Direct Materials Direct Manufacturing Labor Overhead Beg. bal. Jan. 1 5,300 6,000 4,200 8 6,000 12 7,000 5,600 25 2.500 27 4,000 3,200 13,800 17.000 13,000 Overhead Cost of completed job: Direct materials $13,800 Direct labor 17,000 Manufacturing overhead 13,000 Total cost $43,800 Unit cost ($43,800 + 2,000) $21.90 (a) On the basis of this data, answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if this was the only un Balance in Work in Process Inventory on January 1 15500 (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead ra O decimal places, e.g. 55%.) Last year Overhead rate 70 96 Current year BO % A job order cost sheet for Cullumber Company is shown below. Job No. 92 For 2,000 Units Date Direct Materials Direct Manufacturing Labor Overhead Beg. bal. Jan. 1 5,300 6,000 4,200 8 6,000 12 7,000 5,600 25 2.500 27 4,000 3,200 13,800 17.000 13,000 Overhead Cost of completed job: Direct materials $13,800 Direct labor 17,000 Manufacturing overhead 13,000 Total cost $43,800 Unit cost ($43,800 + 2,000) $21.90 (a) On the basis of this data, answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if this was the only un Balance in Work in Process Inventory on January 1 15500 (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead ra O decimal places, e.g. 55%.) Last year Overhead rate 70 96 Current year BO %

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ANSWER Based on the information provided in the job order cost sheet we can determine the following ... View the full answer