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167 a manufacturing company uses an overhead rate based on direct labor cost the com 4296083

 

167.A manufacturing company uses an overhead rate based on direct labor cost. The company's Work in Process Inventory account has a $15,000 debit balance after all posting is completed, and the cost sheet of the one job still in process shows direct material costs of $6,600 and direct labor costs of $3,000. What is the company's overhead application rate?  
 
 

168.Nutley Company uses a job order cost system and last period incurred $70,000 of overhead and $100,000 of direct labor. Nutley estimates that its overhead next period will be $65,000. The company also expects to incur $100,000 of direct labor. If Nutley bases its overhead applied on direct labor cost, what should be the overhead rate for the next period?  
 
 

169.A company's job order costing system applies overhead based on direct labor cost. The company's estimated production costs for were: direct labor, $57,600; direct materials, $76,800; and factory overhead, $9,600. Calculate the company's overhead rate.  
 
 

170.The job cost sheet for Job number 83-421 includes the following information:

DIRECT MATERIALS:

7/12 Requisition R88-566: 20 units @ $3.50 per unit
7/13 Requisition R88-576: 18 units @ $5.00 per unit
7/13 Requisition R88-578: 4 units @ $25.00 per unit
7/14 Requisition R88-591: 40 units @ $1.25 per unit

DIRECT LABOR:

7/12 Employee 19: 8 hours @ $9.00 per hour
7/13 Employee 19: 6 hours @ $9.00 per hour
7/13 Employee 37: 6 hours @ $7.00 per hour
7/14 Employee 19: 5 hours @ $9.00 per hour
7/14 Employee 92: 5 hours @ $11.00 per hour

FACTORY OVERHEAD: Assigned at 150% of direct labor cost.

What is the total cost of Job number 83-421?  
 
 

 

 

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