Company applies manufacturing overhead to products

Reference no: EM131125072

Fairfield company applies manufacturing overhead to products at a predetermined rate of $50 per direct labor hour. Its manufacturing costs for the most recent period are summarized here:

Item	Description			Total Cost
Direct materials	Used on Jobs 101 and 102			$	60,000
Indirect materials	Used on multiple jobs				30,000
Hourly labor wages	750 hours @ $30 per hour
	200 hours for Job 101 =	$	6,000
	300 hours for Job 102 =		9,000
	250 hours for Job 103 =		7,500		22,500

Factory supervision					4,000
Production engineer					8,000
Factory janitorial work					2,500
Selling, general, and administrative salaries					9,000
Other manufacturing overhead costs (factory rent, insurance, depreciation, etc.)					7,500
Other selling, general, and administrative costs (office rent, insurance, depreciation, etc.)					6,000

1.	Post the preceding information to Fairfield Company's Manufacturing Overhead T-account.

2. Compute over- or underapplied manufacturing overhead.

Reference no: EM131125072

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