Chapter 3 Cost Accounting Systems: Job Order Costing PROBLEMS-SET A Note: In both problem sets,...
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Chapter 3 Cost Accounting Systems: Job Order Costing PROBLEMS-SET A Note: In both problem sets, assume perpetual inventory procedures, a single Manufacturing Overhead first in, first-out (FIFO) costing of inventories, and that the Materials Inventory account is the controla for both direct material and indirect material. P3-IA. Determine and Use Overhead Rate Cortez Consulting, Inc., expects the following costs and penses during the coming year: LO3,5 SERVICE AND Direct labor ($9/hr.) .... Sales commissions Overhead S162.000 37,000 144,000 Required Compute a predetermined overhead rate applied on the basis of direct labor hours. Prepare a general journal entry to apply overhead during an interim period when 1.500 direct labor hours were worked c. What amount of overhead would be assigned to Job 466, to which $180 in direct labor had been charged? DA
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