Question: Overhead applied to production Problem: ABC Corp. uses job order costing. Overhead applied to production is at a predetermined rate of 80% based on direct

Overhead applied to production Problem: ABC Corp. uses job order costing. Overhead applied to production is at a predetermined rate of 80% based on direct labor costs. The following accounts appear in the general ledger of the company for the month of September 2020 Debits Work in process, September 1 $60,000 Direct Materials 120,000 Direct Labor 100,000 Factory overhead 80,000 On September 30, 2020 finished goods completed from work in process cost $320,000. Job No. 1 was the only job not completed in September and has been charged P9,200 for factory overhead. Required: Compute for the cost of Job No.1 at September 30, 2020.

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!

SMG Sound Co. must select a manufacturing process for its new speaker sets, SM-5, from two different process alternatives ( X and Y ). Each speaker set will be sold for $120. The following cost data...

answer the question in english..show calculate and formula completly.. QUESTION 6 Jertam Sdn. Bhd. (JSB) uses job order costing system. JSB applied the overhead costs based on direct labor costs. In...

I can't change the font. I recommend that you use the transcribed image text. I have sent this to you three times and I've tried to get a clearer picture as possible F The matybocks Short was 155,000...

1. Calculate and dispose of overapplied or underapplied manufacturing overhead. 2. Calculate the cost of goods manufactured and cost of goods sold. 3. Prepare an income statement for a manufacturing...

PA19-2 Recording Manufacturing Costs and Analyzing Manufacturing Overhead Christophers Custom Cabinet Company uses a job order costing system with overhead applied as a percentage of direct labor...

Christophers Custom Cabinet Company uses a job order costing system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2009 follow: The following...

A company manufactures only custom furniture and uses a job order costing system to accumulate costs. Actual direct materials and direct labor costs are accumulated for each job, but a predetermined...

Canyon City Co. uses a job order costing system that combines actual direct material and actual direct labor costs with a predetermined overhead charge based on machine hours. Expected overhead and...

Smile Co. uses a job order costing system that combines actual direct material and actual direct labor costs with a predetermined overhead charge based on machine hours. Expected overhead and machine...

Please answer this CoursHeroTranscribedText: Smile Co. uses a job order costing system that combines actual direct material and actual direct labor costs with a predetermined overhead charge based on...

Complete the MPS record below for a single item. (Enter your responses as integers. A response of "0" is equivalent to being not applicable.) Item: A Quantity on Hand: 80 Forecast Customer orders...

Red-Black Trees (Left Leaning) (3 points total) 75 Figure 4: Red-Black Tree Red-Black trees rely primarily on 3 operations: rotateLeft, rotateRight, and flipColors. Which of the 3 primary operations...

If an entity that requires a single audit is determined to be a low - risk auditee, then no audit must be conducted. True False

Mary Ellis owns a small manufacturing company and would like to develop more accurate estimates for overhead expenses when making planning decisions. She is pretty sure that overhead is a mixed cost...