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ch. 15 Homework i 7 Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied $ 31,000 Saved $ 37,000 20,000 11,000 22,000 12,000 140,000 87,000 225,000 155,000 $ 105,000 110,000 Finished (sold) Finished (unsold) In process art 1 of 5 э ints eBook Print eferences Status on April 30 Additional Information a. Raw Materials Inventory has a March 31 balance of $82,000. b. Raw materials purchases in April are $505,000, and total factory payroll cost in April is $368,000. c. Actual overhead costs incurred in April are indirect materials, $51,250; indirect labor, $24,250; factory rent, $33,250; factory utilities, $20,250; and factory equipment depreciation, $52,250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April. w Required: 1. Determine the amount of overhead applied to each job in April. 306 307 Direct labor $ 87,000 $ 155,000 $ Predetermined overhead rate Overhead applied 308 110,000 $ April Total 352,000 S < Prev 7 8 9 11 of 11 Next > Help

ch. 15 Homework i 7 Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied $ 31,000 Saved $ 37,000 20,000 11,000 22,000 12,000 140,000 87,000 225,000 155,000 $ 105,000 110,000 Finished (sold) Finished (unsold) In process art 1 of 5 э ints eBook Print eferences Status on April 30 Additional Information a. Raw Materials Inventory has a March 31 balance of $82,000. b. Raw materials purchases in April are $505,000, and total factory payroll cost in April is $368,000. c. Actual overhead costs incurred in April are indirect materials, $51,250; indirect labor, $24,250; factory rent, $33,250; factory utilities, $20,250; and factory equipment depreciation, $52,250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April. w Required: 1. Determine the amount of overhead applied to each job in April. 306 307 Direct labor $ 87,000 $ 155,000 $ Predetermined overhead rate Overhead applied 308 110,000 $ April Total 352,000 S < Prev 7 8 9 11 of 11 Next > Help

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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ch. 15 Homework i 7 Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied $ 31,000 Saved $ 37,000 20,000 11,000 22,000 12,000 140,000 87,000 225,000 155,000 $ 105,000 110,000 Finished (sold) Finished (unsold) In process art 1 of 5 э ints eBook Print eferences Status on April 30 Additional Information a. Raw Materials Inventory has a March 31 balance of $82,000. b. Raw materials purchases in April are $505,000, and total factory payroll cost in April is $368,000. c. Actual overhead costs incurred in April are indirect materials, $51,250; indirect labor, $24,250; factory rent, $33,250; factory utilities, $20,250; and factory equipment depreciation, $52,250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April. w Required: 1. Determine the amount of overhead applied to each job in April. 306 307 Direct labor $ 87,000 $ 155,000 $ Predetermined overhead rate Overhead applied 308 110,000 $ April Total 352,000 S < Prev 7 8 9 11 of 11 Next > Help
Transcribed Image Text:ch. 15 Homework i 7 Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied $ 31,000 Saved $ 37,000 20,000 11,000 22,000 12,000 140,000 87,000 225,000 155,000 $ 105,000 110,000 Finished (sold) Finished (unsold) In process art 1 of 5 э ints eBook Print eferences Status on April 30 Additional Information a. Raw Materials Inventory has a March 31 balance of $82,000. b. Raw materials purchases in April are $505,000, and total factory payroll cost in April is $368,000. c. Actual overhead costs incurred in April are indirect materials, $51,250; indirect labor, $24,250; factory rent, $33,250; factory utilities, $20,250; and factory equipment depreciation, $52,250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April. w Required: 1. Determine the amount of overhead applied to each job in April. 306 307 Direct labor $ 87,000 $ 155,000 $ Predetermined overhead rate Overhead applied 308 110,000 $ April Total 352,000 S < Prev 7 8 9 11 of 11 Next > Help
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