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Prepare Job-Order Cost Sheets, Predetermined Overhead Rate,-(Answered)

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Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS

At the beginning of June, Rhone Company had two jobs in process, Job 44 and Job 45, with the following accumulated cost information:

? Job 44 Job 45
Direct materials $4,600 ? $1,800
Direct labor 1,200 ? 3,000
Applied overhead 780 ? 1,950
Balance, June 1 $6,580 ? $6,750

During June, two more jobs (46 and 47) were started. The following direct materials and direct labor costs were added to the four jobs during the month of June:

At the end of June, Jobs 44, 45, and 47 were completed. Only Job 45 was sold. On June 1, the balance in Finished Goods was zero.

Required:


1. ?Calculate the overhead rate based on direct labor cost. Enter teh percentage answer as a whole number.
?
Answer 1.

 

Since the predetermined overhead rate is not given, it must be calculated from

 

BWIP amounts using

 

either Job 44 or Job 45. Using

 

Job 44,

 

Predetermined overhead rate = 780 /

 

1200 X 100 =...

 

Paper#9209185 | Written in 27-Jul-2016

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