Determine and Use Overhead Rate Cortez Consulting, Inc., expects the following costs and expenses during the coming
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Question:
Determine and Use Overhead Rate
Cortez Consulting, Inc., expects the following costs and expenses during the coming year:
Direct labor (@ $22.50/hr.) | $81,000 |
Sales commissions | 18,500 |
Overhead | 72,000 |
a. Compute a predetermined overhead rate applied on the basis of direct labor hours.
Round to two decimal places, if applicable.
$Answer:
b. Prepare a general journal entry to apply overhead during an interim period when 750 direct labor hours were worked.
General Journal | ||
---|---|---|
Description | Debit | Credit |
Answer Choices:Consulting overhead/Cost of goods sold/Finished goods inventory/Work in process inventory | Answer | Answer |
Answer Choices:Consulting overhead/Cost of goods sold/Finished goods inventory/Work in process inventory | Answer | Answer |
c. What amount of overhead would be assigned to Job 466, to which $90 in direct labor had been charged?
Round to two decimal places, if applicable.
$Answer:
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