Question: i got it figured out. its too bad i have to waste a question per month when someone cant help me figure it out. dont

 i got it figured out. its too bad i have to
waste a question per month when someone cant help me figure it
out. dont be a chegg expert if you cant answer the question.
Whitlock Manufacturing uses a job costing accounting system for its production costs.
The company uses a predetermined overhead rate based on direct materials costs
to apply overhead to individual jobs. The company prepared an estimate of
overhead costs at different volumes for the current year as follows: Whitlock
expects to spend $400,000 in direct materials costs over the entire year.
The following information is for May, when Jobs WM.52 and WM.53 were
i got it figured out. its too bad i have to waste a question per month when someone cant help me figure it out. dont be a chegg expert if you cant answer the question.

Whitlock Manufacturing uses a job costing accounting system for its production costs. The company uses a predetermined overhead rate based on direct materials costs to apply overhead to individual jobs. The company prepared an estimate of overhead costs at different volumes for the current year as follows: Whitlock expects to spend $400,000 in direct materials costs over the entire year. The following information is for May, when Jobs WM.52 and WM.53 were completed: Factorydirectlabor-hours(DLH)JobWM-52JobWM-53JobWM-54990DLH750DLH509DLH Labor costs Direct labor wages (all hours @\$22.00) Indirect labor wages (500 hours) Supervisory salaries Building occupancy costs (heat, light, depreciation, etc.) Factory facilities Sales and administrative offices Factory equipment costs Power Repairs and maintenance other a. Compute the predetermined overhead rate (combined fixed and variable) to be used to apply overhead to individual jobs during the year. (Note: Regardless of your answer to requirement (a) assume that the predetermined overhead rate is 225% of direct materials cost. Use this rate in answering requirements [b] through [f, as needed.) b. Compute the total cost of Job WM-52 when it is finished. c. How much of factory overhead cost was applled to Job WM-54 during May? d. What total amount of overhedd was applied to jobs during May? e. Compute actual factory overhead incurred during May. f. At the end of the year. Whitlock Manufacturing had the following account balances: Assuming that the underapplied overhead is not matenal, show the new account balances in the following table. ssuming that the underapplied overhead is not material, show the new account balances in the following table. Complete this question by entering your answers in the tabs below. Compute the predetermined overhead rate (combined fixed and variable) to be used to apply overhead to individual jobs during the year. Assuming that the underapplied overhead is not material, show the new account balances in the following table. Complete this question by entering your answers in the tabs below. Compute the total cost of Job WM-52 when it is finished. Assuming that the underapplied overhead is not material, show the new account balances in the following table. Complete this question by entering your answers in the tabs below. How much of factory overhead cost was applied to Job WM-54 during May? Complete this question by entering your answers in the tabs below. What total amount of overhead was applled to Jobs during May? Complete this question by entering your answers in the tabs below. Compute actual factory overhead incurred during May. Complete this question by entering your answers in the tabs below. Assuming that the underapplied overhead is not material, show the new account balances in the following table

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!