Question: please answer fully II. Job order costing (19 points) overhead rate based would work 37,000 machine-hours and incur $222,000 in manufacturing overhead cost. The company

 please answer fully II. Job order costing (19 points) overhead rate please answer fully

II. Job order costing (19 points) overhead rate based would work 37,000 machine-hours and incur $222,000 in manufacturing overhead cost. The company uses job-order costing. It applies overhead to jobs using a predetermined on machine-hours. At the beginning of the year, Delphi estimated that it following transactions were recorded for the year: a. Raw materials were issued for use in production, $367,000 ($345,000 direct and b. Employee costs were incurred indirect). direct labor, $309,000; indirect labor, $44,000; and c. d. e. administrative salaries, $155,000. Factory depreciation, $175,000. Selling costs, $140,000. Manufacture overhead was applied to jobs. The actual machine hours for the year were 35,000 hours. a. Compute the total manufacturing overhead cost applied to jobs during the year. Ans: $ b. Assume that the beginning balance for work in process is $15,000 and the ending balance is S12,000, compute the amount of costs of goods manufactured for the year. Ans: $ overhead at the end of the year (Hint: show your work for actual manufacturing costs to receive partial credits). c. Prepare the journal entry needed to close out the over-applied or under-applied manufacturing

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!