Antoine Machining estimated its manufacturing overhead to be $288,920 and its direct materials costs to be $466,000 in Year 1. Three- of the jobs that Antoine Machining worked on in Year 1 had actual direct materials costs of $31,000 for Job AM002, $71,000 for Job AM005, and $86,000 for Job AM008. For Year 1, actual manufacturing overhead was $321,000 and total direct materials cost was $556,000. Manufacturing overhead is applied to jobs on the basis of direct materials costs using predetermined rates. Required: a. How much overhead was assigned to each of the three jobs, AM002, AM005, and AM008? b. What was the over- or underapplied manufacturing overhead for Year 1? Complete this question by entering your answers in the tabs below. Required A Required B M002 AM005 and AM008?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Antoine Machining estimated its manufacturing overhead to be $288,920 and its direct materials costs to be $466,000 in Year 1. Three
of the jobs that Antoine Machining worked on in Year 1 had actual direct materials costs of $31,000 for Job AM002, $71,000 for Job
AM005, and $86,000 for Job AM008. For Year 1, actual manufacturing overhead was $321,000 and total direct materials cost was
$556,000. Manufacturing overhead is applied to jobs on the basis of direct materials costs using predetermined rates.
Required:
a. How much overhead was assigned to each of the three jobs, AM002, AM005, and AM008?
b. What was the over- or underapplied manufacturing overhead for Year 1?
Complete this question by entering your answers in the tabs below.
Required A
Required B
How much overhead was assigned to each of the three jobs, AM002, AM005, and AM008?
Job AM002
Job AM005
Job AM008
< Required A
Required B >
Transcribed Image Text:Antoine Machining estimated its manufacturing overhead to be $288,920 and its direct materials costs to be $466,000 in Year 1. Three of the jobs that Antoine Machining worked on in Year 1 had actual direct materials costs of $31,000 for Job AM002, $71,000 for Job AM005, and $86,000 for Job AM008. For Year 1, actual manufacturing overhead was $321,000 and total direct materials cost was $556,000. Manufacturing overhead is applied to jobs on the basis of direct materials costs using predetermined rates. Required: a. How much overhead was assigned to each of the three jobs, AM002, AM005, and AM008? b. What was the over- or underapplied manufacturing overhead for Year 1? Complete this question by entering your answers in the tabs below. Required A Required B How much overhead was assigned to each of the three jobs, AM002, AM005, and AM008? Job AM002 Job AM005 Job AM008 < Required A Required B >
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