Marian Manufacturing (2M) applies manufacturing overhead to jobs based on direct labor costs. For Year...
80.2K
Verified Solution
Link Copied!
Question
Accounting
image
Marian Manufacturing (2M) applies manufacturing overhead to jobs based on direct labor costs. For Year 2,2M estimates its manufacturing overhead to be $425,360 and its direct labor costs to be $818,000. 2M worked on three jobs for the year. Job 2M1, which was soid during Year 2 , had actual direct labor costs of $728,750. Job 2M2, which was completed but not sold at the end of the year, had actual direct labor costs of $490,250. Job 2M3, which is still in work-in-process inventory, had actual direct labor costs of $106,000. Actual manufacturing overhead for Year 2 was $724,400. Required: a. How much overhead was applied to each job in Year 2? b. What was the over- or underapplied manufacturing overhead for Year 2? Complete this question by entering your answers in the tabs below. How much overhead was applied to each job in Year 2? What was the over- or underapplied manufacturing overhead for Year 2
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
