a. Compute the predetermined factory overhead rate. Round your answer to the nearest cent. per direct labor hour . Determine the amount of factory overhead applied to Job 456 if the amount of direct labor hours is 1,000 and to Job 888 if the amount of direct labor hours is 2,800. Job 456 Job 888 c. Journalize the entry to record the factory overhead applied if Jobs 456 and 888 are the only jobs for the period. If an amount box does not require an entry, leave it blan

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Cavy Company estimates that total factory overhead costs will be $1,039,500 for the year. Direct labor hours are estimated to be 110,000.

 
Cavy Company estimates that total factory overhead costs will be $1,039,500 for the year. Direct labor hours are estimated to be 110,000.
a. Compute the predetermined factory overhead rate. Round your answer to the nearest cent.
$
per direct labor hour
b. Determine the amount of factory overhead applied to Job 456 if the amount of direct labor hours is 1,000 and to Job 888 if the amount of direct labor hours is 2,800.
Job 456
Job 888
c. Journalize the entry to record the factory overhead applied if Jobs 456 and 888 are the only jobs for the period. If an amount box does not require an entry, leave it blank.
Transcribed Image Text:Cavy Company estimates that total factory overhead costs will be $1,039,500 for the year. Direct labor hours are estimated to be 110,000. a. Compute the predetermined factory overhead rate. Round your answer to the nearest cent. $ per direct labor hour b. Determine the amount of factory overhead applied to Job 456 if the amount of direct labor hours is 1,000 and to Job 888 if the amount of direct labor hours is 2,800. Job 456 Job 888 c. Journalize the entry to record the factory overhead applied if Jobs 456 and 888 are the only jobs for the period. If an amount box does not require an entry, leave it blank.
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