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Determine the total cost of each job

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Bread, Inc. uses a normal costing system with a predetermined overhead rate based on machine hours. At the beginning of the year, the company estimated manufacturing overhead for the year would be $240,000 and machine hours used would be 16,000.

The following information pertains to December of the current year:

                                                    Job #1                 Job #2                     Job #3

Work in process, 12/1              $16,000             $26,000              $38,000

December production activity:

Direct materials used                  $4,000               $4,800               $7,200

Direct labor cost                        $2,500                $3,700              $4,100

Machine hours                              800                   1,400                 1,800

Actual manufacturing overhead costs incurred in December were $29,000. Each job was completed at the end of December.

Question 1: Determine the amount of overapplied or underapplied overhead and state whether it is overapplied or underapplied

Question 2: Determine the total cost of each job

Reference no: EM132632172

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