Question: 2nd and 3rd pictures are options for the pull down boxes. Mystic Inc. uses a job order costing system and applies overhead to jobs at



2nd and 3rd pictures are options for the pull down boxes.
Mystic Inc. uses a job order costing system and applies overhead to jobs at a predetermined rate of $4.25 per direct labor dollar. During April, the company spent $71,040 on direct material and $9,360 on direct labor for Job #344. Budgeted factory overhead for the company for the year was $3,060,000. a. How did Mystic Inc. compute the predetermined overhead rate for the year? - Overhead rate = 07 0 = $4.25 per DL$ b. Journalize the application of overhead to all jobs, assuming that April's total direct labor cost was $54,480. Account Debit Credit A 0 0 0 0 To record the application of overhead c. How much overhead was assigned to Job #344 during April? $ 0 d. Job #344 had a balance of $44,040 on April 1. What was the April 30 balance? $ 0 a. How did Mystic Inc. compute the predetermined overhead rate for the year? ] Overhead rate = Actual DL$ 1 / $ 0 = $4.25 per DL$ - Actual OH b. Journalize the Budgeted DL$ Budgeted OH d to all jobs, assuming that April's total direct labo Debit Credit b. Journalize the application of overhead to all jobs, assun Account Debit Credit 0 C C v 0 1 C. igned to Job #344 durin; d Accounts Payable Accumulated Depreciation Cash Depreciation Expense Finished Goods Inventory Manufacturing Overhead Raw Material Inventory Wages Payable Work in Process Inventory 4,040 on April 1. What v
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
