Johnson Incorporated is a job-order manufacturing company that uses a predetermined overhead rate based on direct labohours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 88,000 and estimatedfactory overhead is $660,000. The following information is for September of the current year. Job A was completed duringSeptember, and Job B was started but not finished.September 1, inventoriesMaterials inventoryWork-in-process inventory (All Job A)Finished goods inventoryMaterial purchasesDirect materials requisitionedJob AJob BDirect labor hoursJob AJob BLabor costs incurredDirect labor ($9.50/hour)Indirect laborSupervisory salariesRental costsFactoryAdministrative officesTotal equipment depreciation costsFactoryAdministrative officesIndirect materials used$ 7,90032,00069,000110,00069,00035,5004,6003,90080,75013,9006,4007,4002,2008,1002,20012,400Required:1. What is the total cost of Job A?2. What is the total factory overhead applied during September?3. What is the overapplied or underapplied overhead for September?Complete this question by entering your answers in the tabs below.Required 1Required 2Required 3What is the total cost of Job A? (Do not round intermediate calculations.)Total cost< Required 1Required 2 >

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Description: Johnson Incorporated is a job-order manufacturing company that uses a predetermined overhead rate based on direct labohours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 88,000 and estimatedfactory over

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Johnson Incorporated is a job-order manufacturing company that uses a predetermined overhead rate based on direct labo hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 88,000 and estimated factory overhead is $660,000. The following information is for September of the current year. Job A was completed during September, and Job B was started but not finished. September 1, inventories Materials inventory Work-in-process inventory (All Job A) Finished goods inventory Material purchases Direct materials requisitioned Job A Job B $ 7,900 32,000 69,000 110,000 69,000 35,500 Direct labor hours Job A Job B Labor costs incurred 4,600 3,900 Direct labor ($9.50/hour) Indirect labor Supervisory salaries Rental costs Factory Administrative offices Total equipment depreciation costs Factory Administrative offices Indirect materials used 80,750 13,900 6,400 7,400 2,200 8,100 2,200 12,400 Required: 1. What is the total cost of Job A? 2. What is the total factory overhead applied during September? 3. What is the overapplied or underapplied overhead for September? Complete this question by entering your answers in the tabs below.

Johnson Incorporated is a job-order manufacturing company that uses a predetermined overhead rate based on direct labo hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 88,000 and estimated factory overhead is $660,000. The following information is for September of the current year. Job A was completed during September, and Job B was started but not finished. September 1, inventories Materials inventory Work-in-process inventory (All Job A) Finished goods inventory Material purchases Direct materials requisitioned Job A Job B $ 7,900 32,000 69,000 110,000 69,000 35,500 Direct labor hours Job A Job B Labor costs incurred 4,600 3,900 Direct labor ($9.50/hour) Indirect labor Supervisory salaries Rental costs Factory Administrative offices Total equipment depreciation costs Factory Administrative offices Indirect materials used 80,750 13,900 6,400 7,400 2,200 8,100 2,200 12,400 Required: 1. What is the total cost of Job A? 2. What is the total factory overhead applied during September? 3. What is the overapplied or underapplied overhead for September? Complete this question by entering your answers in the tabs below.

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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Johnson Incorporated is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 89,000 and estimated factory overhead is $445,000. The following information is for September of the current year. Job A was completed during September, and Job B was started but not finished. September 1, inventories Materials inventory Work-in-process inventory (All Job A) Finished goods inventory Material purchases Direct materials requisitioned Job A Job B Direct labor hours Job A Job B Labor costs incurred Direct labor ($7.00/hour) Indirect labor Supervisory salaries Rental costs Factory Administrative offices Total equipment depreciation costs Factory Administrative offices Indirect materials used $ 8,000 32,200 69,500 111,500 70,000 36,000 4,700 4,000 60,900 14,000 6,500 7,500 2,300 8,250 2,350 12,500 Required: 1. What is the total cost of Job A? 2. What is the…
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