How much overhead was assigned to each of given three jobs

Assignment Help Accounting Basics

Reference no: EM131977292

Problem

Southern Rim Parts estimates its manufacturing overhead to be $332, 500 and its direct labor costs to be $950,000 for year 1. The first three jobs that southern Rim worked on had actual direct labor cost of $54,000 for Job 301, $79,000 for Job 302, and $120,000 for Job 303. For the year, actual manufacturing overhead was $454,000 and total direct labor cost was $845,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates.

Required:

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

Reference no: EM131977292

Questions Cloud

What is the spring constant of the spring : When a mass of 20 g is attached to a certain spring, it makes 25 complete vibrations in 4.7 s. What is the spring constant of the spring? Answer in units of N/m

What reports are required by fasb as far as reporting : What reports are required by FASB as far as reporting? What issues do not-for-profits face for reporting and what changes are being made in the new year?

How much external financing will frisch fish need : Frisch Fish Corp expects net income next year to be $605,000. Inventory and accounts receivable will have to be increased by $299,000 to accommodate.

What is the magnitude and direction of the magnetic field : What is the magnitude and direction of the magnetic field?

How much overhead was assigned to each of given three jobs : The first three jobs that southern Rim worked on had actual direct labor cost. How much overhead was assigned to each of the three jobs, 301, 302, and 30?

What then will be the charge on each capacitor : The capacitors are later disconnected from the battery and connected directly to each other, positive plate to positive plate, and negative plate to negative.

What legal entity do you think would fit your company : Think about the status of your partnership and the potential of becoming one of the other forms of legal entity. What legal entity do you think would fit your.

How much overhead was assigned to each of the three jobs : How much overhead was assigned to each of the three jobs, 301, 302, and 30? What was the over- or underapplied manufacturing overhead for year 1?

Describe the main elements of an acceptable use policy : Determine the factors that organizations need to consider when developing their acceptable use policy.

User Account

All Pages