The following is production information for Camino Tractors Co. February 28 inventory of raw materials is $88,000. Raw materials purchases in March are $510,000 Factory payroll cost in March is $378,000 Overhead costs incurred in March are: Indirect materials, $
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The following is production information for Camino Tractors Co.
February 28 inventory of raw materials is $88,000.
Raw materials purchases in March are $510,000
Indirect materials, $55,000
Indirect labor, $22,000
Factory rent, $36,000
Factory utilities, $19,000
Factory equipment
The predetermined overhead rate is 60% of direct labor cost.
Job 200-006 is sold for $700,000 cash in March
Below is a schedule of costs for the three jobs worked on in March. Job 202-002 was started in March.
| Job 200-006 | Job 201-005 | Job 202-002 | Totals | |
| Balances on February 28: | ||||
| Direct materials | $ 30,000 | $ 40,000 | - | $ 70,000 |
| Direct labor | 22,000 | 14,000 | - | 36,000 |
| Applied overhead | 13,200 | 8,400 | - | 21,600 |
| Costs during March: | ||||
| Direct materials | 138,000 | 205,000 | $115,000 | |
| Direct labor | 101,000 | 152,000 | 103,000 | |
| Applied overhead | ||||
| Subtotals for March | ||||
| Totals (February and March) | ||||
| Status on March 31 | Finished and sold | Finished but unsold | Unfinished |
Required:
Calculate overhead to be applied in March and complete the above schedule. Enter amounts in whole numbers with NO DOLLAR SIGNS, NO DECIMALS and NO COMMAS.
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