Please do not give solution in image format thanku Cullumber Manufacturing uses a job-order cost system and applies overhead to production on the basis of direct labour costs. OnJanuary 1, 2022, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: directmaterials $30,600, direct labour $15,300, and manufacturing overhead $20,000. As at January 1, Job No. 49 had been completed at acost of $121,000 and was part of finished goods inventoly. There was a $25,800 balance in the Raw Materials Inventory account onJanuary 1.During the month of January, Cullumber Manufacturing began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49and 50 were sold on account during the month for $152,600 and $198,200, respectively. The following additional events occurredduring the month:1. Cullumber purchased additional raw materials of $106,000 on account.2. It incurred factory labour costs of $76,000.3. It incurred manufacturing overhead costs as follows: depreciation on equipment $14,100, and various other manufacturingoverhead costs on account $22,800.4. It assigned direct materials and direct labour to jobs as follows: Job No.50(a)5152DirectMaterials$12,70042,70035,500DirectLabour$7,100Overhead rate28,2005. It assigned indirect materials of $17.200 and indirect labour of $18,500.22,200Calculate the predetermined overhead rate for 2022, assuming Cullumber Manufacturing estimates total manufacturingoverhead costs of $1,580,000, direct labour costs of $753,400, and direct labour hours of 20,100 for the year. (Round answer to 2decimal places, e.g. 21.11.)%

The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…

(a) Calculate the predetermined overhead rate for 2022, assuming Cullumber Manufacturing estimates total manufacturing overhead costs of $1,580,000, direct labour costs of $753,400, and direct labour hours of 20,100 for the year. (Round answer to 2 decimal places, eg. 21.11.)

(a) Calculate the predetermined overhead rate for 2022, assuming Cullumber Manufacturing estimates total manufacturing overhead costs of $1,580,000, direct labour costs of $753,400, and direct labour hours of 20,100 for the year. (Round answer to 2 decimal places, eg. 21.11.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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