Reference no: EM132964668
Question - Brock Incorporated uses a job-order costing system and 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 would be 8,000.
The following information pertains to December of the current year:
Job 10 Job 11 Job 12 Total
Work-in-process, Dec. 1 $16,000 $26,000 $38,000 $80,000
December production activity: Materials requisitioned $4,000 $4,800 $7,200 $16,000
Direct labor cost $2,400 $3,600 $4,000 $10,000
Machine hours 400 700 900 2,000
Labor hours 120 180 200 500
Manufacturing overhead during December was $55,000.
Brock completed Job No. 10 and Job No. 11 during December. Job No. 11 was sold in December.
Required -
A. Calculate the cost of Job No. 10 and Job No. 11 for December 31.
B. What is Cost of Goods Sold for December?
C. For December, was Manufacturing Overhead over- or underapplied, and by how much?
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