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Estimated cost and operating data for three companies for the upcoming year follow: ...

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Accounting

Estimated cost and operating data for three companies for the upcoming year follow:

Company X

Company Y

Company Z

Direct labor-hours

80,000

45,000

60,000

Machine-hours

30,000

70,000

21,000

Direct materials cost

$ 400,000

$ 315,000

$ 300,000

Manufacturing overhead cost

$ 536,500

$ 315,000

$ 480,000

Predetermined overhead rates are computed using the following allocation bases in the three companies:

Allocation Base

Company X

Direct labor-hours

Company Y

Machine-hours

Company Z

Direct materials cost

1. Assume that Company X works on three jobs during the upcoming year. Direct labor-hours recorded by job are: Job 418, 12,000 hours; Job 419, 36,000 hours; and Job 420, 30,000 hours. How much overhead will the company apply to Work in Process for the year?

2. Compute each companys predetermined overhead rate for company X

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