Chapter 17, Problem 17.1P

I need help solving this general accounting question with the proper methodology.

Pinecrest Construction worked on five projects during its second quarter: Projects 501, 502, 503, 504, and 505. Projects 501 and 502 were completed and delivered to customers with a 35% profit margin. A review of Project 503's cost record is as follows: Cost Component Direct Material Charges Amount ($) 45,000 Total Manufacturing Costs 60,000 Pinecrest allocates overhead at 175% of direct labor cost. What was the overhead allocated to Project 503?

General accounting

Please provide the correct answer to this financial accounting problem using accurate calculations.

What is the ending inventory?

Vortex Manufacturing is a start-up company that produces specialized computer chips. Vortex Manufacturing has budgeted four hours of direct labor per chip, at a standard cost of $22 per hour. During September, technicians actually worked 320 hours completing 85 chips. All 85 chips actually produced were sold. Vortex paid the technicians $21.50 per hour. What is Vortex's direct labor cost variance for September?

HELP

Please explain the solution to this financial accounting problem with accurate principles.

Please provide the answer to this general accounting question with proper steps.