Sweet Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances onMarch 31 Direct materials (in March) $ 32,800 $ 40, 700 Direct labor (in March) 23, 800 19, 900 Applied overhead (March) 11,900 9,950 Costs during April Direct materials 138, 800 225,700 $ 101,900 Direct labor 92, 600 159, 500 106,900Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information RawMaterials Inventory has a March 31 balance of $89, 500. Raw materials purchases in April are $503, 800, and totalfactory payroll cost in April is $383,900. Actual overhead costs incurred in April are indirect materials, $51,900; indirectlabor, $24,900; factory rent, $33,900; factory utilities, $20, 900; and factory equipment depreciation, $54,800.Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April.

The objective of the question is to calculate the applied overhead for each job and the total cost…

Answered: Sweet Company shows the following costs…

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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