(X) Company provides the following information for 2020: Budgeted manufacturing overhead costs$840000 Budgeted direct manufacturing labor costs$33600...
Question:
(X) Company provides the following information for 2020:
Budgeted manufacturing overhead costs$840000
Budgeted direct manufacturing labor costs$33600
Budgeted direct manufacturing labor rate$15/hour
Actual manufacturing overhead costs$869400
Actual direct materials costs of (Job # 123)$4700
Actual direct manufacturing labor-hours of (Job # 123)145 hours
Actual direct manufacturing labor rate$14/hour
Actual direct manufacturing labor-hours during 20202300 hours
Using the information above, answer the following three questions:
Q1: What is the budgeted manufacturing overhead rate of (X) Company? (Cost allocation base is direct labor cost)
Q2: What are the total manufacturing costs of (Job # 123) assuming that (X) Company uses a normal costing system? (Cost allocation base is direct labor cost)
Q3: What are the total manufacturing costs of (Job # 123) assuming that (X) Company uses the actual costing system? (Cost allocation base is direct labor cost)
Expert Answer:
Q1 Budgeted manufacturing overhead rate of X Company The budgeted manufacturing overhead rate is cal... View the full answer
