Business, 14.04.2020 23:40 LilFreaky666
Southern Rim Parts estimates its manufacturing overhead to be $454,500 and its direct labor costs to be $1,010,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $60,000 for Job 301, $85,000 for Job 302, and $150,000 for Job 303. For the year, actual manufacturing overhead was $424,000 and total direct labor cost was $839,000. 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 303?
b. What was the over- or underapplied manufacturing overhead for year 1?
Answers: 1
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Southern Rim Parts estimates its manufacturing overhead to be $454,500 and its direct labor costs to...
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