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What is the manufacturing overhead applied to production?

The computer workstation furniture manufacturing that Santana Rey started is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. Direct materials Direct labor Overhead applied Job 602 $ 1,700 Job 603 Job 604 900 540 $3,700 1,580 948 $ 3,000 1,500 900 Job 602 was started in May, and the following costs were assigned to it in May: direct materials, $600; direct labor, $150; and overhead, $90. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate as a percent of direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. The company's predetermined overhead rate did not change over these months. Required: 1. What is the cost of direct materials used in June for each of the three jobs and in total? 2. What is the cost of direct labor used in June for each of the three jobs and in total? 3. What predetermined…

On January 1, 2015, a new business was started with an initial investment of $12,000 in cash and $8,500 in equipment. During the year, the owner withdrew $3,500. When preparing the Statement of Owner’s Equity, the final balance was recorded as $22,500. Based on this information, what was the net income or loss for the year? A. $5,500 net loss B. $3,500 net income C. $3,500 net loss D. $5,500 net income

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Direct labour cost variance: The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.60 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?

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