Following is partial information for Delamunte Industries for the month of August:

Work In Process
Balance, August 1 $ 41,000
Direct materials used 75,000
Direct labor 120,000
Manufacturing overhead applied (based on direct labor cost) 90,000
Jobs finished during August are summarized here:

Job # Cost of Jobs Completed
234 $ 58,000
237 65,000
231 74,500
246 67,500
Required:
At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $24,000.

Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August.
Determine the balance in Work in Process at the end of August.
Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31.

Question

11-09-2022
Mathematics

Answered

Following is partial information for Delamunte Industries for the month of August:

Work In Process
Balance, August 1 $ 41,000
Direct materials used 75,000
Direct labor 120,000
Manufacturing overhead applied (based on direct labor cost) 90,000
Jobs finished during August are summarized here:

Job # Cost of Jobs Completed
234 $ 58,000
237 65,000
231 74,500
246 67,500
Required:
At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $24,000.

Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August.
Determine the balance in Work in Process at the end of August.
Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31.

Answer :

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ogorwyne ogorwyne · Answer 1 · 2022-09-14T05:27:58-04:00

The predetermined overhead rate is $0.75, the balance in work for august is $61000. the direct material cost is $19000 and the applied overload is $18000

How to solve for the solutions

A. The predetermined overhead calculation

The formula = manufacturing overhead / direct labor

= 90000 / 120000

= 0.75

b. The balance in work sheet

Direct materials used 75,000 + Direct labor 120,000 + Balance, August 1 $ 41,000 + Manufacturing overhead applied (based on direct labor cost) 90,000

= $326,000

58,000 + 65,000 + 74,500 + 67,500 = 265000

The balance at the end of August = 326000 - 265000

= 61000 dollars

c. Applied overload = 0.75 x 24000

= 180000

direct material cost = 61000 - 24000 - 18000

= $19000

The summary of the solution is that the predetermined overhead rate is $0.75, the balance in work for august is $61000. the direct material cost is $19000 and the applied overload is $18000