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Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 S 136,000 Direct materials used 104,800 Direct labor 176,000 Manufacturing overhead applied (based on direct labor cost) 152,000 Jobs finished during August are summarized here: Job # Cost of Jobs Completed 234 S 58,950 237 41,800 231 57,000 246 22,000 Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,000. 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. 2. Determine the balance in Work in Process at the end of August. 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31.

Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 S 136,000 Direct materials used 104,800 Direct labor 176,000 Manufacturing overhead applied (based on direct labor cost) 152,000 Jobs finished during August are summarized here: Job # Cost of Jobs Completed 234 S 58,950 237 41,800 231 57,000 246 22,000 Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,000. 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. 2. Determine the balance in Work in Process at the end of August. 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31.

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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Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 S 136,000 Direct materials used 104,800 Direct labor 176,000 Manufacturing overhead applied (based on direct labor cost) 152,000 Jobs finished during August are summarized here: Job # Cost of Jobs Completed 234 S 58,950 237 41,800 231 57,000 246 22,000 Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,000. 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. 2. Determine the balance in Work in Process at the end of August. 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31. Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,000. 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. 2. Determine the balance in Work in Process at the end of August. 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31.
Transcribed Image Text:Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 S 136,000 Direct materials used 104,800 Direct labor 176,000 Manufacturing overhead applied (based on direct labor cost) 152,000 Jobs finished during August are summarized here: Job # Cost of Jobs Completed 234 S 58,950 237 41,800 231 57,000 246 22,000 Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,000. 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. 2. Determine the balance in Work in Process at the end of August. 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31. Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,000. 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. 2. Determine the balance in Work in Process at the end of August. 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31.
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