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Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $59,600 and its total manufacturing overhead cost to be $95,360.
Several incomplete general ledger accounts showing the transactions that occurred during the most recent accounting period follow:
Calculate the predetermined overhead rate.
predetermined overhead rate= _____________ %of direct labor cost
2- Fill the missing values in the T-accounts (only boxes with question marks)
1-raw materials inventory
Beginning balance
14,200
?
purchases
93,500
Ending Balance
29,200
2-Finished good inventory
40,900
cost of goods completed
sales revenue
317,000
3-Selling,general and administrative expenses
Adm Salaries
25,800
office depreciation
19,400
advertising
13,800
ending balance
60,000
4-Work in process inventory
Beg balance
direct materials
70,000
direct labor
14,900
applied overhead
18,300
5-cost of goods sold
unadjusted cost of goods sold
adjusted cost of goods sold
6-
indirect materials
8,500
indirect labor
factory depreciation
12,500
factory rent
6,400
factory utilities
1,500
other factory costs
9,300
actual overhead
52,000
when relatively large material and labour variances have been determined
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