P2-11 Copenhagen Company uses a job order cost system. Factory overhead is applied to jobs using a predetermined rate based on direct labor hours. At the beginning of the year, the estimated factory overhead and direct labor hours were P480,000 and 12,000 hours, respectively. During the year, Copenhagen incurred total actual factory overhead of P475,000 and 11,500 direct labor hours. Among the job orders received during the year, Job #902 comprising of 100 units of finished products was completed with total materials cost of P5,000 and direct labor cost of P12,300 at P41 per hour. Required: a. Calculate the predetermined overhead rate. b. Calculate the total amount of overhead charged to all jobs during the year. Calculate the amount of under- or overapplied overhead of the year.. d. Calculate the unit cost of Job #902. C.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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P2-11 Copenhagen Company uses a job order cost system. Factory overhead is applied to
jobs using a predetermined rate based on direct labor hours. At the beginning of the
year, the estimated factory overhead and direct labor hours were P480,000 and 12,000
hours, respectively. During the year, Copenhagen incurred total actual factory overhead
of P475,000 and 11,500 direct labor hours. Among the job orders received during the
year, Job #902 comprising of 100 units of finished products was completed with total
materials cost of P5,000 and direct labor cost of P12,300 at P41 per hour.
Required:
a. Calculate the predetermined overhead rate.
b. Calculate the total amount of overhead charged to all jobs during the year.
Calculate the amount of under- or overapplied overhead of the year..
d. Calculate the unit cost of Job #902.
C.
Transcribed Image Text:P2-11 Copenhagen Company uses a job order cost system. Factory overhead is applied to jobs using a predetermined rate based on direct labor hours. At the beginning of the year, the estimated factory overhead and direct labor hours were P480,000 and 12,000 hours, respectively. During the year, Copenhagen incurred total actual factory overhead of P475,000 and 11,500 direct labor hours. Among the job orders received during the year, Job #902 comprising of 100 units of finished products was completed with total materials cost of P5,000 and direct labor cost of P12,300 at P41 per hour. Required: a. Calculate the predetermined overhead rate. b. Calculate the total amount of overhead charged to all jobs during the year. Calculate the amount of under- or overapplied overhead of the year.. d. Calculate the unit cost of Job #902. C.
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