Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period. 21,00 EXERCISE 3-3 Computing Job Costs 03-3) Mickley Company s predetermined overhead rate is $14.00 per direct labor-hour and its direct labor wage rate is $12.00 per hour. The following information pertains to Job A-500: Direct materiels $230 $108 Direct labor Required: What is the total manufacturing cost assigned to Job A-500? If Job A-500 consists of 40 units, what is the average cost assigned to each unit included in the job? 1. 2. EXERCISE 3-4 Prepare Journal Entries [LO3-4] Larned Corporation recorded the following transactions for the just completed month. $80,000 in raw materials were purchased on account. $71,000 in raw materials were requisitioned for use in production. Of this amount, $62,000 was for direct materials and the remainder was for indirect materials. a. b.

Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period. 21,00 EXERCISE 3-3 Computing Job Costs 03-3) Mickley Company s predetermined overhead rate is $14.00 per direct labor-hour and its direct labor wage rate is $12.00 per hour. The following information pertains to Job A-500: Direct materiels $230 $108 Direct labor Required: What is the total manufacturing cost assigned to Job A-500? If Job A-500 consists of 40 units, what is the average cost assigned to each unit included in the job? 1. 2. EXERCISE 3-4 Prepare Journal Entries [LO3-4] Larned Corporation recorded the following transactions for the just completed month. $80,000 in raw materials were purchased on account. $71,000 in raw materials were requisitioned for use in production. Of this amount, $62,000 was for direct materials and the remainder was for indirect materials. a. b.

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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