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Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used. Overhead applied Status on April 30 Additional Information Problem 15-2A (Algo) Part 1 Direct labor Predetermined overhead rate Overhead applied Required: 1. Determine the amount of overhead applied to each job in April. $ 306 $ 33,800 24,800 14,800 a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. 89,800 147,000 89,800 ? Finished (sold) $ $ 39,800 22,800 13,800 232,000 162,000 307 162,000 $ ? Finished (unsold) Answer is not complete. $ 112,000 117,000 ? In process 308 117,000 April Total $ 368,800

Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used. Overhead applied Status on April 30 Additional Information Problem 15-2A (Algo) Part 1 Direct labor Predetermined overhead rate Overhead applied Required: 1. Determine the amount of overhead applied to each job in April. $ 306 $ 33,800 24,800 14,800 a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. 89,800 147,000 89,800 ? Finished (sold) $ $ 39,800 22,800 13,800 232,000 162,000 307 162,000 $ ? Finished (unsold) Answer is not complete. $ 112,000 117,000 ? In process 308 117,000 April Total $ 368,800

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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Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Problem 15-2A (Algo) Part 1 $ 33,800 24,800 14,800 Direct labor Predetermined overhead rate Overhead applied 147,000 89,800 ? Finished (sold) Required: 1. Determine the amount of overhead applied to each job in April. 306 89,800 $ $ 39,800 22,800 13,800 232,000 162,000 a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. ? Finished (unsold) X Answer is not complete. 307 162,000 $ 112,000 117,000 308 117,000 In process April Total 368,800
Transcribed Image Text:Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Problem 15-2A (Algo) Part 1 $ 33,800 24,800 14,800 Direct labor Predetermined overhead rate Overhead applied 147,000 89,800 ? Finished (sold) Required: 1. Determine the amount of overhead applied to each job in April. 306 89,800 $ $ 39,800 22,800 13,800 232,000 162,000 a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. ? Finished (unsold) X Answer is not complete. 307 162,000 $ 112,000 117,000 308 117,000 In process April Total 368,800
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