Following is partial information for Delamunte Industries for the month of August: Balance, August 1 Direct...
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Following is partial information for Delamunte Industries for the month of August: Balance, August 1 Direct materials used Direct labor Manufacturing overhead applied (based on direct labor cost) Jobs finished during August are summarized here: Cost of Jobs Completed Job # 234 237 231 246 Work In Process $ 130,000 122,800 167,000 148,000 $ 62,950 23,800 55,000 27,000 Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,800. 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. 2. Determine the balance in Work in Process at the end of August. 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31. Following is partial information for Delamunte Industries for the month of August: Balance, August 1 Direct materials used Direct labor Manufacturing overhead applied (based on direct labor cost) Jobs finished during August are summarized here: Cost of Jobs Completed Job # 234 237 231 246 Work In Process $ 130,000 122,800 167,000 148,000 $ 62,950 23,800 55,000 27,000 Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,800. 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. 2. Determine the balance in Work in Process at the end of August. 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31.
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Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
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