Job costing and overhead application

1. Instructions for doing the problem can be found at: http://ashford.mediaspace.kaltura.com/media/ACC206A+Chapter+4+Exercise+4/0_urxlae4s

2. All answers must be in the format of the screen shot excel spreadsheet. I have to be able to input in the preformated Spreadsheet provided:

Uniflex applies overhead on the basis of direct labor cost. In December 20X4, the company's cost accountant made the following predictions for 20X5 operations: direct labor cost, $640,000; factory overhead, $961,000.

Uniflex worked on job Nos. 241 and 242 in January. The costs incurred and production status of these two jobs appear in the table that follows.

		Job No. 241		Job No. 242
Direct materials		$28,000		$47,000
Direct labor		18,000		27,000
Production status		In process		In process

By the end of 20X5, actual direct labor cost amounted to $612,500, and factory overhead incurred totaled $927,500. There was no work in process on January 1, 20X5.

Compute the following:

Uniflex's overhead application rate.

The balance of the Work in Process account on January 31, 20X5.

The amount of over- or underapplied overhead for 20X5. Be sure to indicate whether overhead was overapplied or underapplied.

ACC206 Guidance Report Week Three Read-only Excel File Home Insert page Layout Formulas Data Review view Q lell me what you want to do D146 YOUR ANSWERS BASED UPON Questions COURSE START DATE a. Un ex's overhead application rate. This rate needs to be recalculated because the labor has change January 31, 20X5. Job 241 Material Labo Overhead 20 Totti Job 242 Material 23 Labo Overhead Tota c, The amount of over- or under applied overhead 26 for 20X5. Indicate whether overhead was overapplied or under applied 29 30 32 Student Guidance Report Ready a ype here to search rhonda paul X 2 Share All 53 5/2/2017 R2