Show the solution in good accounting form Elain Corp. makes www product that it sells to retailers. The company uses a job order costing systemin which predetermined overhead rates are used to apply factory cost to jobs. The predetermined ratein the AW department is based on direct labor cost and in BW department is based on the machinehours. The following estimates are made at the beginning of the year:AW DepartmentBW Department120,000Direct labor hours24,000Machine hours140,00010,0001,020,000260,0001,300,000840,000Direct Material CostDirect Labor CostFOH Cost1,204,0001,470,000Job 401 was started on February 1 and completed on February 25. The company's cost records show thefollowing information concerning the job.AW DepartmentBW DepartmentDirect labor hours60170Machine hours22040Direct Material Used940664Direct Labor Cost5801,360At the end of the year, the records of the company show the actual cost and data for all jobs workedduring the year.AW DepartmentBW DepartmentDirect labor hours20,000130,000860,000216,000124,000Machine hours18,0001,360,000872,000Direct Material CostDirect Labor CostFOH Cost1,140,0001,500,0001. Compute the unit cost of Job 401massuming it contained 200 units.2. Compute for the total over/lunder)- applied factory overhead at the end of the year. Overapplied factory overhead is encoded as a positive number, ex. 12345.67; Underaraliedfactory overhead is encoded in a parenthesis, ex. (12345.67).

Name: Show the solution in good accounting form Elain Corp. makes www produc
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Show the solution in good accounting form Elain Corp. makes www product that it sells to retailers. The company uses a job order costing systemin which predetermined overhead rates are used to apply factory cost to jobs. The predetermined ratein the