Landow industries uses a job-order cost system the company

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Reference no: EM13583609

Landow Industries uses a job-order cost system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor hours. The estimated MOH was $136,000 for the year and the estimated direct labor hours were 16,000 hours.

In June, Job # 325 was completed. Direct materials totaled $5,500. Total labor costs were $3,000 at $15 per hour. At the end of the year, it was determined that the company worked 15,000 direct labor hours for the year, and incurred $130,000 in actual manufacturing overhead costs.
Required:
a- Calculate the predetermined overhead rate for year.
b- Determine the amount of overhead charged to jobs during the year.
c- Determine the amount of under- or over-applied overhead for the year.
d- Prepare a job cost sheet for Job # 325 using information given. Assuming that 60 units were completed, determine the unit product cost.

Reference no: EM13583609

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