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a) The overhead application rates for the month. b) The overhead cost of each job. c) The total cost for each job.

a) The overhead application rates for the month. b) The overhead cost of each job. c) The total cost for each job.

FINANCIAL ACCOUNTING
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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6) The Tableau Manufacturing Company has been in business for one month. At the end of the month the company had the following account balances on its books: Direct material used Direct labor Indirect labor Indirect materials Supervisor's salary Depreciation of machinery Direct materials cost Direct labor cost Direct labor hours Machine hours EGP 5,000 10,000 Miscellaneous factory overhead Heat and light Insurance on plant The company processed two jobs during the month with costs as follows: Job 101 EGP 3,000 6,000 4,000 2,000 3,000 2,000 1,000 3,000 1,000 500 1,500 Job 102 EGP 2,000 4,000 3,000 1,000 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. In terms of both direct labor hours and machine hours, compute: a) The overhead application rates for the month. b) The overhead cost of each job. c) The total cost for each job.
Transcribed Image Text:6) The Tableau Manufacturing Company has been in business for one month. At the end of the month the company had the following account balances on its books: Direct material used Direct labor Indirect labor Indirect materials Supervisor's salary Depreciation of machinery Direct materials cost Direct labor cost Direct labor hours Machine hours EGP 5,000 10,000 Miscellaneous factory overhead Heat and light Insurance on plant The company processed two jobs during the month with costs as follows: Job 101 EGP 3,000 6,000 4,000 2,000 3,000 2,000 1,000 3,000 1,000 500 1,500 Job 102 EGP 2,000 4,000 3,000 1,000 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. In terms of both direct labor hours and machine hours, compute: a) The overhead application rates for the month. b) The overhead cost of each job. c) The total cost for each job.
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