Southern Rim Parts estimates its manufacturing overhead to be $282,000 and its direct labor costs to be $940,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $53,000 for Job 301, $78,000 for Job 302, and$115,000 for Job 303. For the year, actual manufacturing overhead was $459,000 and total direct labor cost was $846,000.Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates.

Required:

a. How much overhead was assigned to each of the three jobs, 301, 302, and 30?

b. What was the over- or underapplied manufacturing overhead for year 1?

Please show work and explain

Answer rating: 100% (QA)

Answer Solution A B 120 Answer Explanation i first we need to c... View the full answer