ACCOUNTING PRINCIPLES V.1 W/ WILEY PLU
ACCOUNTING PRINCIPLES V.1 W/ WILEY PLU
12th Edition
ISBN: 9781119157021
Author: Weygandt
Publisher: WILEY C
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Chapter 20, Problem 20.5DIE
To determine

Predetermined Manufacturing Overhead:

Predetermined manufacturing overhead rate is the rate that has been worked out at the time of laying out the budget and the manufacturing overhead is applied using this rate. The predetermined rate and the activity uses is a source document used to assign the manufacturing overhead cost to each job.

The predetermined rate is applied to the activity used. Suppose the manufacturing overhead is applied on machine hours the machine hours used for the particular job is multiplied by predetermined rate and this will be the amount assigned to that particular job.

To determine: The amount of under-or over applied manufacturing overhead.

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Franklin Auto Works uses a job order cost system. Overhead is applied to jobs on the basis of direct labor hours. During the current period, Job No. 412 was charged $520 in direct materials, $560 in direct labor, and $225 in overhead. If direct labor costs an average of $18 per hour, what is the company's overhead application rate?
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