Question: 125 % Sh Comment Media Shape Chart Text Insert Table Zoom 10.Points 1. Anderson Company uses a job-order costing system and applies manufacturing overhead to
125 % Sh Comment Media Shape Chart Text Insert Table Zoom 10.Points 1. Anderson Company uses a job-order costing system and applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor hours. Manufacturing overhead and direct labor hours were estimated at $70,400 and 22,000 hours, respectively. In June, Job # 461 was completed. Materials costs on the job totaled $4,815.75 and labor costs totaled $2,325 at $7.50 per hour (310 hours worked on this job). At the end of the year, it was determined that the company worked 23,916 direct labor-hours for the year and incurred $69,187.52 in actual manufacturing overhead costs. Required (3 Points): Compute the predetermined overhead rate and compute the amount of overhead applied to Job # 461. a. Y A+Bx overhead applied= 10.7 x 310 over head applied-3,317 Y-70,400 + (7.50 x 22,000) Y- 235,400 predetermined overhead rate 235,400 22,000 10.7 predetermined overhead rate b. Job #461 contained 110 units. Determine the total product cost that would be charged to this job and the cost per unit of the product produced. cost per unit of the product: total fixed cost+ total variable cost total product cost: 4,815.75+2,325+69,187.52 - 76,328.27 c. Compute the amount of overhead under or gyerapplied for Anderson Company. Assuming the 20 MacBook Air
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
