Question: Ricky Customized Corp uses a predetermined rate for applying overhead to production using normal costing. The predetermined rates for Year 1 follow: Variable overhead =

Ricky Customized Corp uses a predetermined rate for applying overhead to production using normal costing.
The predetermined rates for Year 1 follow:
Variable overhead =200 percent of direct labor dollars
Fixed overhead =300 percent of direct labor dollars
Actual overhead costs incurred follow:
Variable overhead = $25,000
Fixed overhead = $28,000.
Actual direct materials costs were $6,000, and actual direct labor costs were $10,000. Ricky produced one job in Year 1.
Calculate actual costs of the job.

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!