Haughton Company uses a job costing system for its production costs and a predetermined factory overhead...

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Haughton Company uses a job costing system for its production costs and a predetermined factory overhead rate based on direct labor costs to apply factory overhead to all jobs. During the month of July, the firm processed three jobs: X13, X14, and X15, of which X13 was started in June. Inventories Direct Materials Work-in-Process Finished Goods Cost of Goods Sold Direct materials purchased in July Materials issued to production: X13 X14: X15 Factory labor hours used ($30/hour) X13 X24 X15 Indirect labor Other factory overhead costs incurred: Rent $36.700 41,400 D $7 57,000 16,620 25,820 14,100 3,600 2,900 1,700 7,000 $ 132,500 256,800 July 31 Utilities Repairs and maintenance Depreciation Other As of July 31, Job X13 was sold and Jobs X14 and X15 were still in process. Total factory overhead applied in July was $984,000. 189,500 132,100 57,000 7 Compute the predetermined factory overhead rate. Compute the amount of the Direct Materials account at the end of July. Compute the actual factory overhead cost incurred during the month of July. Compute the ending balance of the Work-in-Process Inventory account for July. - Prepare the Statement of Cost of Goods Manufactured for July. Compute the amount of overapplied or underapplied overhead. What is the cost per unit of Job X13 if it has a total of 100 units? Prepare the Statement of Cost of Goods Sold for July. Haughton Company uses a job costing system for its production costs and a predetermined factory overhead rate based on direct labor costs to apply factory overhead to all jobs. During the month of July, the firm processed three jobs: X13, X14, and X15, of which X13 was started in June. Inventories Direct Materials Work-in-Process Finished Goods Cost of Goods Sold Direct materials purchased in July Materials issued to production: X13 X14: X15 Factory labor hours used ($30/hour) X13 X24 X15 Indirect labor Other factory overhead costs incurred: Rent $36.700 41,400 D $7 57,000 16,620 25,820 14,100 3,600 2,900 1,700 7,000 $ 132,500 256,800 July 31 Utilities Repairs and maintenance Depreciation Other As of July 31, Job X13 was sold and Jobs X14 and X15 were still in process. Total factory overhead applied in July was $984,000. 189,500 132,100 57,000 7 Compute the predetermined factory overhead rate. Compute the amount of the Direct Materials account at the end of July. Compute the actual factory overhead cost incurred during the month of July. Compute the ending balance of the Work-in-Process Inventory account for July. - Prepare the Statement of Cost of Goods Manufactured for July. Compute the amount of overapplied or underapplied overhead. What is the cost per unit of Job X13 if it has a total of 100 units? Prepare the Statement of Cost of Goods Sold for July.

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The predetermined factory overhead rate is calculated by dividing the total plannedbudgeted factory overhead costs by the plannedbudgeted direct labor ... View the full answer